Press release
Global Smart Parking Market Outlook to 2025 - Analysis and Forecasts by Leading Players Smart Parking, Kapsch, Parkmobile, Xerox Corp, Cisco and SKIDATA
Smart Parking Market
Smart parking systems market address critical parking issues, by making it easier for drivers to park their vehicles without wasting time and fuel. These systems avail their users with real-time information regarding available parking spaces across the city, thereby reducing the traffic congestion caused due to mismanaged parking spaces. Amano Mcgann, Smart Parking Ltd., Xerox, Cisco and Urbiotica are among the major players operating in smart parking systems market.
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The smart parking systems market report focuses on an in-depth segmentation of this market based by parking site, components and end-user industry. The geographic segmentation of the report covers six major regions including; North Americas, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America (SA). The regional market has been further bifurcated by respective countries. By end-user vertical transport facilities sector accounted for the largest share of the smart parking systems market in 2016; whereas, APAC region is expected to grow at the highest CAGR during the forecast period.
Some of the key players of smart parking systems market include
- Nedap NV
- SKIDATA AG.
- Urbiotica
- Smart Parking Ltd.
- Cisco Systems Inc.
- Amano Mcgann, Inc.
- SWARCO AG.
- Parkmobile, LLC
- Xerox Corp.
- Kapsch
Global smart parking systems market is expected to grow from US$ 398.6 million in 2016 to US$ 1462.3 million by 2025 at a CAGR of 15.7% between 2017 and 2025.
North America, being a technologically advanced region along with high number vehicle population and congestion in cities, has witnessed highest adoptions of smart parking systems by government & municipalities of various cities. Europe is the second largest adopter of smart parking systems, while APAC region with growing urbanization and increasing technological trends is anticipated to be the fastest growing region globally.
Key Vision of Global Smart Parking Market
- Historical and Future Market
- Supply and Demand
- Price and Cost
- Drivers and Challenges
- Key Vendors
- Market Strategies
- Industry Value Chain
- Regions
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In order to support sustainable development and safety of the drivers all major car manufacturing brands such as Audi, Mercedes, BMW, Ford and PSA Peugeot Citro?n are coming up with hi-tech auto-parking technologies. For instance, BMW has pioneered in understanding the importance of connectivity between the cars and its surroundings, and has partnered with INRIX to introduce an application that would help BMW drivers to shorten the time consumed while searching for a vacant parking space. Furthermore, Ford is planning to design a smart car, integrated with sensors to detect empty parking spaces and to provide the correct information to the MIS; it was also capable of informing if the parking space is valid or not. Other automobile firms are also reframing there strategies to include smart parking as an important component in their upcoming car models.
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