Smart Parking Market 2022: Growth Rate, Share, Size and Forecast 2027

Smart Parking Market 2022: Growth Rate, Share, Size and Forecast 2027

The latest report by IMARC Group, titled “Smart Parking Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” offers a comprehensive analysis of the industry, which comprises insights on the global smart parking market size. The report also includes competitor and regional analysis, and contemporary advancements in the global market.

The global smart parking market reached a value of US$ 3.97 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 8.52 Billion by 2027, exhibiting at a CAGR of 13.4% during 2022-2027. Smart parking refers to an Internet of Things (IoT) solution, which is extensively deployed in automobiles for guiding drivers to inform and accommodate vacant parking spaces in specific areas. It utilizes various embedded systems, such as vehicle detection, automatic number plate recognition readers (ANPR), sensors, cameras, and management operators, for facilitating its functions. Smart parking is further used for navigating, enabling the smooth flow of traffic in congested areas.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

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Important Attribute and highlights of the Report:

  • Detailed analysis of the global market share
  • Market Segmentation
  • Historical, current, and projected size of the market in terms of volume and value
  • Latest industry trends and developments
  • Competitive Landscape
  • Strategies of major players and product offerings

Global Smart Parking Market Trends:

The integration of various technologies, such as the Internet of Things (IoT) and parking guidance systems (PGS), for reserving ticketing systems and barriers is one of the key factors primarily driving the market growth. In addition to this, the increasing prevalence of traffic congestion in metropolitan cities and the rising inclination of consumers toward comfortable and luxurious cars are positively impacting the market growth. Apart from this, the numerous initiatives undertaken by the government of various nations for strengthening green and smart cities infrastructure are providing a positive outlook for the market.

Explore Full Report with TOC & List of Figures: https://www.imarcgroup.com/smart-parking-market

Key Market Segmentation:                      

Competitive Landscape:                                      

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:            

  • Valeo S.A.
  • Continental AG
  • Robert Bosch GmbH
  • Kapsch TrafficCom AG
  • Cubic Corporation
  • TKH Group-Park Assist.
  • Streetline Inc.
  • Cisco Systems Inc.
  • ParkMe Inc.
  • Urbiotica
  • Skidata AG
  • Amano McGann Inc.
  • Swarco AG
  • Smart Parking Ltd
  • Nedap N.V.
  • Delphi Automotive PLC
  • Aisin Seiki Co. Ltd
  • Siemens AG
  • Xerox Corporation

Breakup by System:

  • Guided Park Assist System
  • Smart Park Assist System

Breakup by Technology:

  • Ultrasonic Sensors
  • Radar Sensors
  • Image Sensors
  • IoT
  • Others

Breakup by Component:

  • Hardware
  • Software
  • Services

Breakup by Vertical Type:

  • Government and Municipalities
  • Commercial Institutions
  • Corporate Institutions
  • Transport Facilities
  • Others

Breakup by Solution:

  • Security and Surveillance
  • Valet and Parking Reservation
  • License Plate Recognition

Breakup by Parking Site:

  • Off-Street Parking
  • On-Street Parking

Breakup by Region:

  • North America (United States, Canada)
  • Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key highlights of the Report:

  • Market Performance (2016-2021)
  • Market Outlook (2022-2027)
  • COVID-19 Impact on the Market
  • Porter’s Five Forces Analysis
  • Historical, Current and Future Market Trends
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Structure of the Market
  • Value Chain Analysis
  • Comprehensive Mapping of the Competitive Landscape

TOC for the Report:

  • Preface
  • Scope and Methodology
  • Executive Summary
  • Introduction
  • Global Market
  • SWOT Analysis
  • Value Chain Analysis
  • Price Analysis
  • Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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