Press release
Light Commercial Vehicle Real-Time Parking System Market Technological Innovation, Trends & Top Players by 2027
Light Commercial Vehicle Real-Time Parking System Market
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Regions covered
North America (the U.S. and Canada), Europe (Germany, the UK, France, and rest of Europe), Asia-Pacific (China, Japan, India, and rest of Asia-Pacific), Latin America (Brazil, Mexico, and rest of LATAM) and The Middle East and Africa
Companies covered
Streetline, Smart Parking Ltd, ParkMe Inc, Parknav, T2 SYSTEMS, Spot Innovation Inc, INRIX Inc, ParkWhiz API, Robotic Parking Systems Inc and Cisco Systems Inc.
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Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
Increase in adoption of efficient real time parking system, upsurge in demand for internet of things (IoT) based technology and increase in parking concerns due to urbanisation are driving the growth of the market. However, issues with quality control norms and high implementation cost coupled with configuration complexity are expected to hamper the growth of the market. Contrarily, optimum utilization of parking spaces for light commercial vehicles is anticipated to create an opportunity for the market investments.
The global light commercial vehicle real-time parking management system market trends are as follows:
Optimum utilization of parking spaces
The parking spaces frequently remain unutilized as developers build additional parking spaces due to the regulations regarding the size of the vehicle and lesser number of parking space to accommodate the rising number of vehicles. Consistent parking management solutions, such as improved signage and real-time parking indicators, reduce the wastage of parking spaces by alerting the drivers by displaying any available parking space. Furthermore, parking management also results in an efficient use of parking resources through better revenue management. An effective and integrated parking management solution can reduce parking requirements by 20 to 40 percent, which helps in maintaining city infrastructure, reducing land consumption, increasing revenue generation for the government and improving user convenience. Therefore, optimum utilization of parking spaces is anticipated to boost the market growth for the global light commercial vehicle real-time parking management system during the forecast period
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Key benefits of the report:
1 This study presents the analytical depiction of the light commercial vehicle real-time parking management system industry along with the current trends and future estimations to determine the imminent investment pockets.
2 The report presents information related to key drivers, restraints, and opportunities along with challenges of the light commercial vehicle real-time parking management system market.
3 The current market is quantitatively analyzed from 2019 to 2027 to highlight the light commercial vehicle real-time parking management system market growth scenario.
4 We can also determine real-time parking system will remain a significant revenue shareholder in the global light commercial vehicle real-time parking management system market through the predictable future.
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About Us
Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts, and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.
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