Press release
Smart Parking Systems Market Outlook to 2025 by Top Leading Players Xerox Corp, SWARCO, Amano Mcgann, Parkmobile, Kapsch, Nedap, Urbiotica,SKIDATA, Smart Parking and Cisco Systems
Smart Parking Systems Market
Smart parking systems address critical parking issues, by making it easier for drivers to park their vehicles without wasting time and fuel. Smart parking 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. SWARCO AG., Parkmobile, LLC, Xerox Corp., Kapsch, Nedap NV, SKIDATA AG., Urbiotica, Smart Parking Ltd., Cisco Systems, Inc. and Amano Mcgann are among the major players operating in this market.
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The smart parking systems market report focuses on an in-depth segmentation of Smart parking 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.
The implementation cost of the smart parking technology is expensive as compared to other non-technical parking methods, thereby it is currently being primarily adopted by the developed countries. In addition, off-street parking systems require more physical changes as compared to on-street parking system. This factor further hampers the market growth as a number of regions worldwide are lagging in the development of telecom and overall infrastructure.
The report aims to provide an overview of global smart parking systems market with detailed market segmentation. Also, it analyzes the current smart parking systems market scenario and forecasts the market till 2025. The report covers market dynamics effecting the market during the forecast period. Furthermore, the report analyzes the competitive scenario, geographic trends, and opportunities in the markets with respect to all geographic regions. The report also includes the detailed company profiles of the key players in the market along with their market strategies. The smart parking systems market report also provide porter’s five forces analysis and SWOT analysis for all company profiled in the smart parking systems market report.
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Currently, smart parking systems have seen a significant adoption in the North American and European countries. Furthermore, with advancements in technology and infrastructure, various developing economies of APAC and MEA are expected to witness significant adoption of smart parking solutions. Thus, North America and Europe dominate the global smart parking systems market, however, they are expected to lose market share to Asia Pacific during the forecast period. APAC is expected to register a growth rate of 32.9% during 2015 to 2025.
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