Global Smart Parking Market Reach $11.55 Billion by 2025 With Key Players Such as Amano Mcgann, Inc., Urbiotica, Smart Parking Ltd., IEM SA, IPS Group Inc., Klaus Multiparking Systems, Swarco AG, PArklayer & More.

Allied Market Research published a report, titled, “Global Smart Parking Market by Type, Technology, Application, and End User: Global Opportunity Analysis and Industry Forecast, 2018-2025.” According to the research study, the global smart parking market generated $5.001 billion in 2017 and would reach $11.55 billion by 2025, growing a CAGR of 11.2% during the forecast period, 2018–2025. North America contributed to the highest market share in 2017, followed by Europe. The U.S. would dominate the North America market, while France is projected to maintain its leadership status at a significant growth rate in Europe.

The advantages including enhanced usage of parking space, reduction in traffic congestion, rise in user interference owing to real time data accessibility, and enhanced safety to human beings are expected to drive the growth in the market. However, high implementation cost and complexity in configuration would restrict the growth in the market. Contrarily, rise in investments on building driverless vehicles and supportive government initiatives would create new opportunities in the market.

There are problems associated with vehicle parking due to growth in number of vehicles. This technology provides user a real-time information related to the parking space. Rise in population, increase in disposable income, and development of the cities with the slower pace has resulted in parking related problems.

Flat 20% Discount on All License Type. https://www.alliedmarketresearch.com/checkout/25060 * Offer Valid Till 20th April 2019

This technology helps solve problem associated with parking that leads to create air pollution. It includes components that consist of low-cost sensors, real-time data interference, and smart mobile applications that allow users to monitor available & unavailable parking spots. Facility to handle the parking of the vehicle suitably with the use of smart phones. Governments across the globe are taking initiative for the development of infrastructure which is projected to result in automated parking. Furthermore, some solutions facilitate the services such as online payments, parking time notifications, and car searching functionalities for very huge parking lots. In December 2017, the U.S.-based Blockchain technology firm Net-Objex has showcased a smart parking payment solution by using the IOTA decentralized network and cryptocurrency. This new solution is projected to help motorists to pay autonomously for parking through the integration of crypto wallets.
Based on type, the off-street parking segment generated the highest revenue in the smart parking market in 2017, and is expected to remain dominant during the forecast period. In addition, based on technology, the ultrasonic sensor segment generated the highest revenue followed by IoT and RFID.

Key Findings of the Smart Parking Market:

•The off-street parking type segment is estimated to generate the highest revenue in the global smart parking market in 2017.
•In 2017, the commercial segment is projected to be the highest revenue contributor in the end-user segment.
•Asia-Pacific is anticipated to exhibit the highest CAGR during the forecast period.
•In 2017, North America contributes the highest market revenue, followed by, Asia-Pacific, Europe, and LAMEA.

Download report sample at: https://www.alliedmarketresearch.com/request-sample/2878

The key players profiled in the report are Amano Mcgann, Inc., Urbiotica, Smart Parking Ltd., IEM SA, IPS Group Inc., Klaus Multiparking Systems, Swarco AG, PArklayer, Omnitec group, Dongyang Menics Co. Ltd., Skidata AG, and Mindteck.

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

This release was published on openPR.