Hybrid Smart Parking Platform Market 2018 Global Leaders: Huawei Technologies, Streetline, IPS Group, Kapsch TrafficCom AG, NuPark, Siemens AG, 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.

Hybrid Smart Parking Platform Market- Overview

The expanding number of vehicles on the roads around the world have created an exigent need to innovate and implement efficient parking system solutions. Market reports associated with the semiconductors and electronics sector made accessible by Market Research Future along with published reports on other sectors have been lately put out along with a report on this industry. The hybrid smart parking platform market is likely to earn USD 2,134 Million globally by 2023 approximately while developing at an 18 percent CAGR in the duration of the forecast period.

Hybrid smart parking platforms are projected to reduce the hassles associated with parking in urban areas. The rising sales of automobiles together with the increase in the numbers of cars per household are the main factors that are influencing the demand for the development of the market. The growth in the level of acceptance of the concept of smart cities and the alarming scarcity of parking spaces is expected to further the fuel of the market for the duration of the forecast period.

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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.

Industry Updates:

April 2018 Get My Parking which is a Delhi-based smart parking platform has signed an agreement to acquire Constapark which is a Bangalore based company. After the acquisition, the Constapark team will relocate to the Bangalore office of Get My Parking. This deal is a sign of consolidation in the swiftly developing mobility industry and will aid in strengthening GMP's leadership in the domestic market. Constapark currently handles 30,000 parking spots on its platform and parks 4,000 vehicles on an everyday basis throughout Bangalore. It has deployed on-street parking management for the Electronic City in Bangalore among its other projects.

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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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