Smart Parking Market In-Depth Analysis, Growth Strategies & Comprehensive Forecast 2022-2029

 The global smart parking market is projected to exhibit a CAGR of 18% during the forecast period of 2022 to 2029. The rising trend of autonomous vehicles and the emergence of fully-automated parking systems (APS) are factors creating potential growth opportunities for the smart parking market.

According to the report, factors such as lack of parking space, rise in the number of on-road vehicles, low infrastructure set-up cost, and ease of connectivity are projected to drive the growth of the global smart parking market.

Get a Sample Copy of this Report @
https://www.futuremarketinsights.com/reports/sample/rep-gb-4511

Key Takeaways of Smart Parking Market Study

  • Proliferation of smartphones to enable drivers to track vacant parking slots and increasingly used outsourced parking services by hospitals, universities, and municipalities are expected to boost the smart parking market.
  • North America dominated the smart parking market in 2018 in terms of revenue, owing to increasing smart parking initiatives in the U.S. and Canada.
  • The parking management platforms segment is expected to gain significant traction during the forecast period, owing to increasing adoption of smart parking applications in emerging countries such as Brazil, China, Chile, India, and Indonesia.
  • Demand for smart parking solutions in the corporate sector is expected to increase at a striking CAGR during the forecast period, owing to high demand for efficient vehicle parking management solutions and parking spaces within corporate premises.
  • Limited parking spaces in highly populated cities and increasing security & privacy issues in the automotive industry are some of the factors hindering the growth of the smart parking market.

“Increasing vehicle ownership, growing smart city initiatives, and the emergence of fully-automated parking systems for efficient smart parking management will create numerous growth opportunities for the smart parking market in the coming years.”

Increasing Focus of Key Players on Product Innovation

Companies in the smart parking market have started investing more in speeding up the process of product development and innovation. Leading players are adopting business expansion, acquisition, and collaboration strategies in a bid to capture a significant share of the global market.

  • For instance, in July 2019, Cleverciti Systems, a prominent vendor of high-tech solutions for smart parking, announced the addition of the ClevercitiCard into its outdoor and indoor parking guidance system, including single-space occupancy detection, into a credit card-sized smart card.

Some of the key players in the smart parking market are:

  • Siemens
  • Huawei Technologies Co.
  • Delphi Technologies
  • Intercomp S.p.A.
  • Comarch SA
  • Matrix Comsec
  • Urbiotica

More Valuable Insights on Smart Parking Market

Future Market Insights puts forward an unbiased analysis of the global market for global smart parking market, providing historical data for 2014-2021 and forecast statistics from 2022-2029. To understand opportunities in the smart parking market, it has been segmented on the basis of component, system type, sensor technology, and application area, across seven major regions.

Get More Information on this Report @
https://www.futuremarketinsights.com/reports/smart-parking-market

Smart Parking Market Outlook by Category

By Component :

  • Hardware
    • Sensors
    • Cameras
    • Parking Meters
    • Digital Guidance Signage
    • Others
  • Software
    • Parking Management Platforms
    • SDK/API
  • Services
    • Consulting
    • Integration & Support Services
    • Device Management Services

By System Type:

  • Guided Park Assist Systems
  • Smart Park Assist Systems

By Sensor Technology:

  • Ultrasonic Sensors
  • RFID
  • Image Sensors
  • Others

By Application Area:

  • Commercial
  • Government
  • Corporate

By Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • Asia Pacific excluding Japan
  • Japan
  • Middle East & Africa

Comments

Post a Comment

Popular posts from this blog

Automated Sortation System Market Analysis, Segments, Leading Player, Application & Forecast 2022 to 2030

 Future Market Insights, an ESOMAR certified market research firm in its latest report pegs the global market for automated sortation system  to surpass a valuation of US$ 14.34 Billion by the end of 2030. With accuracy and efficiency of automated sortation systems set to boost KPIs, manufacturers are steadily scaling up logistics and warehousing businesses to improve sorting and picking. Automated sortation are giving and uptick to profit margins by a respectable 1% gain and helping to reduce the total cycle time for orders. With newer sortation systems having sortation rates close to 100%, operators within the automated sortation system market are increasing their own reliability index through timely deliveries thus gaining an edge in the overall market. Better throughputs help stakeholders prepare well for capacity forecasts. Request a Sample Copy of this Report @ https://www.futuremarketinsights.com/reports/sample/rep-gb-11931 Key Takeaways of Automated Sort...
Read more

Industrial Motors Market Analysis, Key Players, Segments & Forecast 2022 to 2032

 The worldwide  industrial motors market  is estimated to develop at a 3.5% CAGR from 2022 to 2032, reaching a value of more than US$ 917.3 million in 2032. Several government entities, like the European Water Association (Europe), the Environmental Protection Agency (US), and the India Water Works Association (India), are actively drafting legislation and regulations governing water disposal and reuse programmes. The Environmental Protection Agency (EPA) in the United States, for example, has made it essential for companies to purify water before disposing of it. In this regard, specifications for maximum allowed contamination levels have been devised. Furthermore, severe government laws have been put in place for the construction of water projects to produce power, handle water waste, and stop deposit exploitation, among other things. These industrial water and wastewater projects are expected to have a direct impact on the growth of the industrial motors market from 20...
Read more

Deployable Military Shelter Market Outlook, Current and Future Landscape Analysis 2022 to 2029

 According to Future Market Insights (FMI), the Global Deployable Military Shelter Market will grow at a 4.7% year-on-year rate in 2022, reaching a value of approximately US$ 1,068.2 million by the end of 2022. The evolving battleground requirements have necessitated increased military unit deployment in distant warzones and diverse terrains for strategic operational and training purposes. Ascending military spending of governments and notable rise in border conflicts continues to push sales of deployable military shelters on a global level. The global deployable military shelter market will most likely surpass the value of US$ 1,464.0 Million by 2029, as projected by a new Future Market Insights (FMI) report. Witnessing healthy growth in revenues over 2022 – 2029, demand for deployable military shelters will be prominent in temporary military bases in conflict affected areas as well as overseas. Key Takeaways – Deployable Military Shelter Market Study North America’s deploya...
Read more