Smart Parking Market Future Competitive Analysis By 2025 | Cisco Systems Amano McGann, Smart Parking Ltd., Urbiotica, Skidata AG, Swarco AG, Parkmobile, LLC, Nedap N.V
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Some of The Leading Players of Smart Parking Market :
Smart Parking Ltd.
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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. Amano Mcgann, Smart Parking Ltd., Xerox, Cisco and Urbiotica are among the major players operating in this market. 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 in the smart parking systems market.
Smart Parking Systems Market Boosted Owing to Continued Demand Growth in Asia Pacific
Currently, smart parking systems have seen a significant adoption in the North American and European countries. Furthermore, with advancements in technology and infrastructure, in various developing economies of APAC and MEA that include the grand project in city of Wellington, pilot projects in Canberra, Singapore, Thailand, Dubai and Saudi Arabia are expected to witness significant adoption of smart parking solutions. Although, North America and Europe dominate the global smart parking systems market, they are anticipated to lose their revenue share to Asia Pacific during the forecast period. Whereas, APAC is expected to register a growth rate of 18.9% during 2016 to 2025 in the global smart parking systems market.
Global Smart Parking Systems Market is propelled by the Off-street Parking Segment
Technological advancements such as use of mobile applications for parking guidance systems, enhanced ticketing and payment solutions and significant growth in adoption of smart parking systems by commercial and corporate institutions are the factors expected to boost the demand for off-street parking management system market. This type of parking is beneficial to both short as well as long term parking users. However, high initial deployment cost of off-street parking systems is expected to restrict the growth of the market. The off-street parking segment leads the global smart parking systems market currently and is expected to continue its dominance during the forecast period.
Table of Contents
Smart Parking Market LANDSCAPE
Smart Parking Market – KEY MARKET DYNAMICS
SMART PARKING MARKET – GLOBAL MARKET ANALYSIS
Smart Parking Market – REVENUE AND FORECASTS TO 2027 – TECHNOLOGY TYPE
Smart Parking Market – REVENUE AND FORECASTS TO 2027 – SERVICES
Smart Parking Market – REVENUE AND FORECASTS TO 2027 – APPLICATION
Smart Parking Market – REVENUE AND FORECASTS TO 2027 – END-USER
Smart Parking Market REVENUE AND FORECASTS TO 2027 – GEOGRAPHICAL ANALYSIS
Smart Parking Market, KEY COMPANY PROFILES
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