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Smart Parking Market Global Trends, Market Share, Industry Size, Growth, Opportunities, and Market Forecast 2019 to 2026

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Modern smart parking systems allow users to reserve a parking slot in advance, locate available parking space with the help of real-time data and smartphone-enabled applications. The rise in a number of vehicle users, rise in the development of smar
Smart Parking Market Global Trends, Market Share, Industry Size, Growth,
Opportunities, and Market Forecast 2019 to 2026
Modern smart parking systems allow users to reserve a parking slot in advance,
locate available parking space with the help of real-time data and smartphoneenabled applications. The rise in a number of vehicle users, rise in the development
of smart cities and increasing expansion of corporate hubs, malls, hospitals and
academic institutions are fuelling the demand for parking space. Reduction in carbon
foot, cost-effectiveness and ease of accessibility are certain benefits that encourage
the use of smart parking system and in turn facilitating extensive growth in the global
smart parking market. Reduced the costs of hardware-based solutions and sensors to
gather detailed information on transportation patterns data is also catalysing the
market. Additionally, government initiatives to manage traffic congestions, develop
improved parking spaces and increased adoption of smart parking systems is causing
radical expansion of the smart parking market.
The global smart parking market is expected to value over US $ 9 Billion by the end
of 2026 and forecasted to propagate at a CAGR of 10.87% from 2019 to 2026.
Growth Restraints Hampering Global Smart Parking Market
• Lack in the standardization of smart parking systems
• The high set up cost involved in infrastructure investments for smart parking
systems
• Fragmented coordination between software developers and hardware providers
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Global Smart Parking Market, by Technology
+ Ultrasonic
+ IoT
+ RFID
Global Smart Parking Market, by Application
+ Smart Payment System
+ Security & Surveillance
+ E-parking
+ License Plate Recognition
Global Smart Parking Market, by Type
+ On-street Parking
+ Off-street
Off-street parking in the form of garage and parking lots are gaining traction due to
greater safety than the on-street parking spaces. Off-street parking is soon estimated
to gain the largest market share over the next 6-7 years and grow at a lucrative
CAGR.
Global Smart Parking Market, by End User
+ Government
+ Commercial
Global Smart Parking Market, by Region
+ North America
+ Latin America
+ Europe
+ Asia Pacific
+ Rest of the World
Booming automobile industry, smart cities initiatives by government bodies and
huge population in countries like Japan, India and China in the APAC region makes it
the largest shareholder in terms of investment returns and market penetration. Due
to growth in metropolitan cities and adoption of advanced technologies is fuelling a
remarkable CAGR in the European region making it second largest market holder.
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Competitive Landscape:
+ Tier 1 players- established companies in the market with a major market share
+ Tier 2 players
+ Emerging players which are growing rapidly
+ New Entrants
FutureWise Key Takeaways
+ Growth prospects
+ SWOT analysis
+ Key trends
+ Key data-points affecting market growth
Objectives of the Study:
+ To provide an exhaustive analysis on Global Smart Parking Market by Technology,
Application, by Type, End User and by Region
+ To cater comprehensive information on factors impacting market growth (drivers,
restraints, opportunities, and industry-specific restraints)
+ To evaluate and forecast micro-markets and the overall market
+ To predict the market size, in key regions (along with countries)—North America,
Europe, Asia Pacific, Latin America, and the Middle East
+ To record evaluate and competitive landscape mapping- product launches,
technological advancements, mergers and expansions
+ Profiling of companies to evaluate their market shares, strategies, financials and
core competencies
Table of Contents
Introduction
Report description
Key benefits for stakeholders
Key market segments
Research methodology
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Primary research
Secondary research
Executive summary
Market overview
Market definition and scope
Key findings
Market share analysis, 2018 (%)
Market dynamics
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Drivers
Restraint
Opportunities
Smart Parking Market, By Type
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Overview
On street
Off street
Smart Parking Market, By Technology
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Overview
Internet of things (iot)
Ultrasonic
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Rfid
Smart Parking Market, By Application
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Overview
Security & surveillance
Smart Payment Systems
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Key market trends, growth factors and opportunities
Market size and forecast, by region
Market analysis by country
E-Parking
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Key market trends, growth factors and opportunities
Market size and forecast, by region
Market analysis by country
License Plate Recognition
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Key market trends, growth factors and opportunities
Market size and forecast, by region
Market analysis by country
Smart Parking Market, By End User
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Overview
Commercial
Government
Smart Parking Market, By Region
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Overview
North america
U.S.
Canada
Mexico
Europe
UK
Germany
France
Italy
Rest of Europe
Asia-Pacific
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China
India
Japan
Australia
Rest of Asia-Pacific
LAMEA
Company Profiles
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Amano mcgann, inc.
Urbiotica
Smart parking ltd.
Iem sa
Ips group inc.
Klaus multiparking systems
Swarco ag
Robert bosch gmbh
Continental ag
Dongyang menics co.ltd
Inquire further details about this report at: [email protected]
About FutureWise Research:
We specialise in high-growth niche markets, assuring flexibility, agility and
customised solutions for our clients. Through in-depth market insights and
consultancy, we present our clients with the tools they need to be at the forefront of
their industry – a position secured for far more than the near future.
Contact Us:
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Contact Person: Vinay Thaploo
Email: [email protected]
Phone: +44 141 628 9353 / +1 970 279 4295
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