UK Smart Parking Market Size with Current Trends and Technological Advancement 2021-2027 | Top Key Players are INRIX, Mojio, UnaBiz, Libelium, CIMCON

Smart Parking Market is valued at USD 4.80 Billion in 2017 and expected to reach USD 14.97 Billion by 2027 with a CAGR of 12.05% over the forecast period.

Scope of Smart Parking Market Report:
Smart Parking is an effective parking system enables human to achieve faster and easier way to park their vehicles in any denser area. Smart Parking System assists in solving one of the biggest problems associated with rising population and driving in urban cities. It aims to reduce the utilization of resources like fuel, space and time. These systems are the combination of various components like Internet, Parking Sensors, Counting Sensors, Camera and others. The real-time monitoring of Vehicles, Traffic, Parking Locations, Availability and Prices helps to collect the data from these spots, process it and transmit it to the various users over the internet through websites or mobile applications. Smart Parking Systems also holds various advantages like enhancing the driving experience, safety, less traffic & pollution, proper space utilization and controlled population.

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Smart Parking Market: UK Size, Trends, Competitive, Historical & Forecast Analysis, 2021-2027.
• Increasing Vehicle Population is a key driving factor for the growth of Smart Parking
• Increasing adoption of integrated automated solutions coupled with the advancements in wireless technologies and proliferation of digital payment technologies are some of the major factors expected to drive the growth of the UK Smart Parking Market.

UK Smart Parking Market Segmentation:
UK Smart Parking Market report is segmented on the basis of technology, type, application, end user and region & country level. Based upon technology, UK Smart Parking market is classified into IoT, RFID, and Ultrasonic. Based upon the type, it is classified as On-street and Off-street. Based upon the application, UK Smart Parking market is classified into Smart Payment System, Security & Surveillance, License Plate Recognition, and E parking. On the basis of end user, the market is fragmented into government and commercial.

By Technology:
• IoT
• Ultrasound
• RFID

By Type:
• Off-Street
• On-Street

By Application:
• Security & Surveillance
• Smart Payment System
• E parking
• License Plate Recognition

By End User:
• Commercial
• Government

The regions covered in this UK Smart Parking Market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, the market of Smart Parking is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, Middle East Asia, Africa, etc.

Key Players for UK Smart Parking Market Report-
Some major key players for UK Smart Parking Market are INRIX, Mojio, UnaBiz, Libelium, CIMCON, EasyMile, PayRange, Park Jockey, Vivacity Labs, Telensa Ltd, Fensens, Pod Point, Parquery, Cleverciti, JustPark, and others.

News: SmartRent Announces Alloy Parking
January 06, 2021; SmartRent, a smart home automation provider announced its new parking system along with IoT technology to establish parking space management for multi sites and increasing the profit by spending on underutilized spaces. The features in Alloy Parking will enable the property owners and residents to make best use of parking spaces includes: One system for all facilities, managing resident parking, real-time parking availability, optimizing revenue, automated garages.

Victoria Park Council deals with parking issues through virtual solutions
December 17, 2020; vPermit is a virtual parking permit solution launched by Australian town of Victoria Park. It aims to improve parking options and prevent the overflow of cars. It has been developed by Smarter City Solutions to process the residential parking management and simplify the permit application through virtual platform.

Increasing Vehicle population is a key driving factor for the growth of Smart Parking Market
The major factors driving the growth of UK Smart Parking market is increasing vehicle population and traffic congestion. According to the World Bank, there will be increase in overall population by 60% which causes to grow urbanization and brings challenges in transportation and infrastructure building. It is also estimated that 35% of overall time is wasted in finding parking spots also links to financial losses in economy. According to Smart Parking Institute Survey, 42% voted in favor of importance of smart parking systems of total respondents.

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North America is dominating the UK Smart Parking Market
North America is expected to dominate the Smart Parking market within the forecast period attributed to increase in demand of vehicles and parking spaces for effective movement in less time. According to the National Parking Association (NPA)’s economic impact report, the U.S. Economy is driven by parking and represented by 1% of GDP. It is also estimated that parking industry has helped around 581,000 workers and contributed $131 billion. Asia-Pacific region is also expected to grow as rise in population increases the demand for vehicles and traffic congestion creates a great opportunity in smart parking systems with the help of advancement in technology and government’s different policies. All the above mentioned factors are likely to accelerate the market growth over the forecast period.

Europe is expected to be second largest region for smart parking market within the forecast period owing to rising concerns regarding parking, increase in demand for Internet of Things (IoT), and high implementation rate of smart cities in this region. Data analysis predicted that the number of IoT connections in the identified sectors is predicted to grow from around 13m in 2016 to over 150m by 2024 in the UK.

Key Benefits for UK Smart Parking Market Report–
• UK Smart Parking Market report covers in-depth historical and forecast analysis.
• UK Smart Parking Market research report provides detail information about Market Introduction, Market Summary, UK market Revenue (Revenue USD), Market Drivers, Market Restraints, Market Opportunities, Competitive Analysis, Regional and Country Level.
• UK Smart Parking Market report helps to identify opportunities in marketplace.
• UK Smart Parking Market report covers extensive analysis of emerging trends and competitive landscape.

By Regional & Country Analysis: (North America, U.S., Canada, Europe, U.K., France, Germany, Italy,Asia Pacific, China, Japan, India, Southeast Asia, Latin America, Brazil, Mexico, Middle East and Africa, GCC, Africa, Rest of Middle East and Africa)

Table of Content
1. Chapter - Report Methodology
1.1. Research Process
1.2. Primary Research
1.3. Secondary Research
1.4. Market Size Estimates
1.5. Data Triangulation
1.6. Forecast Model
1.7. USP’s of Report
1.8. Report Description
2. Chapter – UK Smart Parking Market Overview: Qualitative Analysis
2.1. Market Introduction
2.2. Executive Summary
2.3. UK Smart Parking Market Classification
2.4. Market Drivers
2.5. Market Restraints
2.6. Market Opportunity
2.7. Smart Parking Market: Trends
2.8. Porter’s Five Forces Analysis
2.9. Market Attractiveness Analysis
3. Chapter - UK Smart Parking Market Overview: Quantitative Analysis
4. Chapter – UK Smart Parking Market Analysis: Segmentation By Type
5. Chapter – UK Smart Parking Market Analysis: Segmentation By Application

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