Connected Vehicle and Parking Space Industry Landscape Market 2021-2026 skyrocketed revenue with key players BMW AG, Audi AG, Daimler AG, Tesla Inc., Volkswagen AG

Latest research on Connected Vehicle and Parking Space Industry Landscape Market report covers forecast and analysis on a worldwide, regional and country level. The study provides historical information of 2016-2021 together with a forecast from 2021 to 2026 supported by both volume and revenue (USD million). The entire study covers the key drivers and restraints for the Connected Vehicle and Parking Space Industry Landscape market. This report included a special section on the Impact of COVID19. Also, Connected Vehicle and Parking Space Industry Landscape Market (By major Key Players, By Types, By Applications, and Leading Regions) Segment’s outlook, Business assessment, Competition scenario and Trends. The report also gives 360-degree overview of the competitive landscape of the Connected Vehicle and Parking Space Industry Landscape industry.

Connected Vehicle and Parking Space Industry Landscape market is growing at a CAGR of 22.3% during the forecast period (2021-2026).

The Connected Vehicle and Parking Space Industry Landscape market is highly competitive and consists of a number of major players. Top Companies like BMW AG, Audi AG, Daimler AG, Tesla Inc., Volkswagen AG, Parking Space Providers, Conduent, Indigo Park SA, AmanoÊ Inc, SwarcoÊAG, Q-FreeÊASA

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Industry News And Developments:

- May 2020 - Volkswagon AG announced to invest over USD 2.2 billion for its electric vehicle venture with a Chinese partner in a USD 1.1 billion deal, and another USD 1.1 billion for battery manufacturing in China. With this expansion, the company will be the biggest shareholder in battery production globally.

- May 2020 - Parklio barriers had been set up in 42 reserved parking spaces in front of nine hotels in Split to help prevent further misuse of these parking spaces.

Scope of the Report

- Over the years, the development of connected vehicle has been taking place and is expected to be a huge technological advancement which will allow the vehicles to communicate with their surroundings. This will further fuel the trend from car ownership to more mobility-related services. In urban areas, particularly, the decline in the number of vehicles is expected to reduce dramatically. According to the ADAC automobile association in Germany, the adoption of a private car to decline by close to 30% by 2040.

- At the same time, the parking industry is also slowly gaining traction across several countries. This is mainly due to the slow-changing nature of the parking industry, which includes both on-street as well as off-street parking. According to the latest survey by PYMTS.com, there are more than 4,000 garages and surface parking lots in the United States, and commercial real estate developers own most of this property to REITs and even some cities.

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Key Market Trends

Connected Passenger Car Vehicle Market is Expected to Grow Significantly

- The rising automotive sales and increasing production of autonomous vehicles across the world are driving the automotive industry. According to VDA (The German Association of the Automotive Industry), the sales of automotive worldwide, in 2019, reached 65.5 million units. Moreover, according to the UBS, the global market for autonomous vehicles manufacturing and sales is expected to reach USD 243 billion by 2030. Such high growth in automotive sales might lead to potential growth for the market during the forecast period.

- Additionally, to seize growth opportunities in autonomous vehicles, critical automotive manufacturing companies worldwide are extensively investing in production expansion. For instance, in November 2019, Volkswagen announced to start the construction of its new connected vehicle production facility in its Chattanooga site in the United States. With an investment of over USD 800 million, the company plans to start production by 2022. It also plans to create a new battery pack assembly facility on the site.

- Last year, BMW also declared an investment of over EUR 1 billion for building a new car manufacturing facility in Hungary. These expansions are expected to fuel the demand for the global automotive inertial systems market.

Europe is Expected to Hold the Largest Market Share in Parking Industry

- The smart city projects in Europe are looking forward to the enhanced mobility solutions with an aim to reduce pollution, congestion, time for passengers in search of parking spaces, and improve accessibility. The European Union has mentioned that the digitization, and working in tandem with appropriate political strategies are the main pillars for improving parking efficiency and offer new parking services to serve better cities Sustainable Urban Mobility Plans (SUMP).

- Dynamic pricing is one of the ongoing pricing strategies offered by most of the parking space providers in the region. The dynamic pricing has been standard practices in many industries, e.g., in the airline and hotel industry. To make the parking space easily available, these providers are revamping parking policies and updating zoning rules to induce and encourage clean mobility oriented developments.

What are the market factors that are explained in the report?

–Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.

–Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

–Analytical Tools: Connected Vehicle and Parking Space Industry Landscape Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, feasibility study, and investment return analysis have been used to analyzed the growth of the key players operating in the market. 

The research includes historic data from 2015 to 2020 and forecasts until 2026 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.

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