Press release
Smart Parking Market Smart Parking Market (CAGR 10.97%) 2018-2023 |EM SA , IPS Group Inc. , Klaus Multiparking Systems
Market analysis
The smart parking is a system which guides the driver in finding a vacant spot for vehicle parking. This type of parking system helps in detecting the parking space through the sensors along with directing the driver about the empty space. RFID, smartapp, ultrasonic are some of the technologies that are used in the smart parking system. The factors which are influencing the smart parking market include the higher demand for the smart cities solution. Also, growing urbanization is another reason for the growth of the smart parking market. The smart parking system is currently being highly adopted by the shopping centers, universities, airports and city garages.
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The ability for analyzing, connecting and automating data collected from the devices and powered by the Internet of Things (IoT) technology, is what makes the smart parking possible. The smart parking market is expected to grow at CAGR of 10.97% during the forecast period 2017 to 2023.
Market segmentation
The global smart parking market is classified on the basis of its technology, parking site and regional demand. Based on its technology, the market is classified into ultrasonic, RFID, smartapp, in-ground vehicle detection sensor and others. On the basis of its parking site, the smart parking market is categorized as off-street and on-street.
Regional analysis
Geographically, the global smart parking market is divided into global regions like Europe, North America, Asia- Pacific, Middle East, LATAM, and Africa.
Major players
The key players in the global smart parking market are IEM SA (Switzerland), IPS Group Inc. (U.S.), Klaus Multiparking Systems (Germany), Amano McGann, Inc. (U.S.), Smart Parking Limited (Australia), PArklayer (India), Robert Bosch GmbH (Germany), Dongyang Menics Co., Ltd (South Korea), Omnitec group (UAE), Mindteck (India), among others.
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Kenneth Research is a reselling agency providing market research solutions in different verticals such as Automotive and Transportation, Chemicals and Materials, Healthcare, Food & Beverage and Consumer Packaged Goods, Semiconductors, Electronics & ICT, Packaging, and Others. Our portfolio includes set of market research insights such as market sizing and market forecasting, market share analysis and key positioning of the players (manufacturers, deals and distributors, etc), understanding the competitive landscape and their business at a ground level and many more. Our research experts deliver the offerings efficiently and effectively within a stipulated time. The market study provided by Kenneth Research helps the Industry veterans/investors to think and to act wisely in their overall strategy formulation
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