Hybrid Smart Parking Platform Market 2018 by Global Leaders: IPS Group, Kapsch TrafficCom AG, Streetline, Libelium, NuPark, Siemens AG, Huawei Technologies, Acer, Robert Bosch GmbH

Market Research Future published a research report on “Hybrid Smart Parking Platform Market Research Report- Global Forecast 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.

Market Scenario:

The explosive growth of vehicles and concurrent scarcity of land especially in cities has created an acute need for efficient parking solutions. The global hybrid smart parking platform market is anticipated to grow at a CAGR of 18 % during the forecast period of 2017 and 2023.

Market Dynamics:

Drivers

Growing population, urbanization, explosive growth of vehicles coupled with rising cost of land have created antecedents for smart parking solutions. These factors have led to growth of accidents not to mention the loss of peace of mind owing to increased stress and cost of noncompliance. The growing cost, the vertical growth pattern of the real estate industry, increasing stringency of building rules & parking regulations by governments and demand for security and automation further favor the market.

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Increasing adoption and development of IP-based communication and automation technology, real time monitoring allows for automated control of threats such as fire, power failure and theft. Development of mass recreation centers such as cinema halls, food parks, and malls has further stimulated the market. Technological advancements such as internet of things (IOT) and sensor technology are providing further impetus to the market.

Hybrid smart parking platform also helps in optimizing parking resources utilizing continuous streaming of data from streets. The advent of analytics and big data coupled with real time analysis of data results in parking occupancy based on multiple data sources.

Key Players:

The prominent players in Hybrid Smart Parking Platform Market are – Streetline (U.S.), Libelium (Spain), Tata Elxsi (India), IPS Group, Inc. (U.S.), Kapsch TrafficCom AG (Germany), NuPark (U.S.), Siemens AG (Germany), Huawei Technologies Co. Ltd. (China), Acer Inc. (Taiwan), Robert Bosch GmbH (Germany) among others.

Segments:

Hybrid smart parking platform market can be segmented on the basis of following:

By Component

• Hardware
• Software
• Service

By Parking Type

• On Street Parking
• Off Street Parking

By Solution

• Security & Surveillance
• Valet Parking Management
• Parking Reservation Management
• License Plate Recognition

By Application

• Government
• Residential
• Commercial

Regional Analysis:

The regional analysis of hybrid smart parking platform market is being studied for regions such as Asia Pacific, North America, Europe and Rest of the World. It has been observed that North America is estimated to account for the largest share of the market, followed by Europe, whereas Asia-Pacific is projected to grow at the fastest rate during the forecast period. The major growth in hybrid smart parking platform market in North America is attributed to technological advancements and increasing number of vehicles leading towards growing traffic concerns in that region.

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Intended Audience

• Technology Investors
• Research/Consultancy Firms
• Infrastructure Providers
• Original equipment manufacturers (OEMs)
• OEM technology solution providers
• Smart City
• Government Organization
• Software vendors

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This release was published on openPR.