Press release
Smart Parking Market Trends and Predictions for Growth During Forecast Period
Smart parking is a vehicle parking system, which facilitates driver to search for vacant space to park the vehicle. Sensors and software assist the driver for finding the place available for parking through symbols or sign. This system helps in the proper management of the vehicle, considering the availability of space, which will further assist in optimized usage of land.
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Smart Parking Market: Drivers and Restraints
Increasing problems related to land utilization and proper parking management are the key issue of overcrowded cities, which is anticipated to increase the demand for smart parking gadgets in recent years. Also, increasing the number of vehicles are expected to create huge expansion opportunity for the respective industry.
Increasing demand for smart infrastructure in airports, hospitals, office, railways and mall are spurring the need for smart parking equipment and software. Moreover, the configuration complexity and requirement of trained staff to operate the smart parking solutions are coupled together to hinder the growth of the market over the forecast period
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Global Smart Parking Market: Market Segmentation
Global Smart Parking Market can be divided into six segments, based on System, Technology, Component, Solutions, Verticals and Region.
Segmentation on the basis of Components for Smart Parking Market:
The major segments of Smart Parking Market on the basis of the Components include:
Hardware
Software
Segmentation on the basis of Solution for Smart Parking Market:
The major segments of Smart Parking Market on the basis of the Solution include:
Security & Surveillance
Valet & Parking Reservation
License Plate Recognition
Segmentation on the basis of Vertical for Smart Parking Market:
The major segments of Smart Parking Market on the basis of the Vertical include:
Commercial
Personal
Transport & Aviation
Government
Others
Segmentation on the basis of Region for Smart Parking Market:
The major segments of Smart Parking Market on the basis of Region include:
Asia-Pacific excluding Japan
The Middle East and Africa
Western Europe
North America
Eastern Europe
Latin America
Japan
Global Smart Parking Market: Regional Trend
North America is expected to witness largest market share regarding revenue, owing to increasing need of traffic management is propelling the growth of the Smart Parking Market over the forecast period. Further shooting number of vehicles in Canada and U.S is the other key factor influencing the growth of the market.
Latin America and Asia Pacific is anticipated to witness fastest market growth, owing to increasing inclination towards smart cities is the major factor responsible for the growth of the industry.
The European countries are projected to exhibit significant growth opportunity, due to increasing supportive government regulation in the respective region is expected to spur the demand for Smart Parking devices in the forthcoming years.
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Global Smart Parking Market: Competitive Landscape
Some of the prominent players in the Smart Parking Market includes Valeo, Altiux Innovations, Streetline, Nedap AVI, Amco Corporation, Delphi Automotive PLC, Smart Parking Ltd., 3M Company, Bayerische Motoren Werke AG, TCS International Inc, Robert Bosch GmbH, Cubic Corporation, T2 SYSTEMS, Cisco Systems, Inc., Spot Innovation, Inc., Integrapark, LLC, CivicSmart, Inc., Complus Data Innovations, Inc., ParkHelp, Passport Parking, LLC, ParkMe Inc., TransCore LP, Inc., ParkmobileLLC, ParkWhiz API, World sensing, Netpark, LLC, Siemens AG, HCL Technologies Ltd., Xerox Corporation, Parkopedia Inc, and Data Ticket, Inc.
The report covers exhaustive analysis on:
Market Segments
Market Dynamics
Historical Actual Market Size, 2012 - 2016
Market Size & Forecast 2017 to 2027
Supply & Demand Value Chain
Market Current Trends/Issues/Challenges
Competition & Companies involved
Technology
Value Chain
Aircraft Refurbishing Market Drivers and Restraints
Regional analysis includes
North America
Latin America
Europe
Asia Pacific
Middle East & Africa
MRR.BIZ has been compiled in-depth market research data in the report after exhaustive primary and secondary research. Our team of able, experienced in-house analysts has collated the information through personal interviews and study of industry databases, journals, and reputable paid sources.
The report provides the following information:
Tailwinds and headwinds molding the market’s trajectory
Market segments based on products, technology, and applications
Prospects of each segment
Overall current and possible future size of the market
Growth pace of the market
Competitive landscape and key players’ strategies
The main aim of the report is to:
Enable key stakeholder’s in the market bet right on it
Understand the opportunities and pitfalls awaiting them
Assess the overall growth scope in the near term
Strategize effectively with respect to production and distribution
MRR.BIZ is a leading provider of strategic market research. Our vast repository consists research reports, data books, company profiles, and regional market data sheets. We regularly update the data and analysis of a wide-ranging products and services around the world. As readers, you will have access to the latest information on almost 300 industries and their sub-segments. Both large Fortune 500 companies and SMEs have found those useful. This is because we customize our offerings keeping in mind the specific requirements of our clients.
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