Smart Parking Market to Reach US$ 1,462.3 Million, Globally, by 2025 at 15.7% CAGR: The Insight Partners

The Insight Partners provides you global research analysis on “Smart Parking Market” and forecast to 2025. The research report provides deep insights into the global market revenue, parent market trends, macro-economic indicators, and governing factors, along with market attractiveness per market segment. The report provides an overview of the growth rate of the Smart Parking market during the forecast period, i.e., 2018–2025.

Smart parking systems are gaining focus in terms of investments, adoption, and implementation across the globe. Major developments are seen in developed countries, but even developing countries have started implementing or are planning to implement smart technologies in their traditional parking systems. Germany, U.K., France, U.S., and Japan are few of the major countries which have successfully deployed smart parking systems and are relishing the benefits of easier and efficient parking systems.

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Major key players covered in this report: Cisco Systems, Inc., Amano McGann, Inc., Smart Parking Ltd., Urbiotica, Skidata AG, Swarco AG, Parkmobile, LLC, Nedap N.V, Kapsch, Xerox Corp., Parkmobile, LLC,SWARCO AG.

Key findings of the study:
• From a growth perspective India in Asia-Pacific region is anticipated to witness the most lucrative CAGR growth rate of 12.6% during the forecast period
• Based on parking site, the on-street parking site segment is projected to witness significant lucrative profitable opportunities with projected CAGR growth rate of 14.1%
• By component, the software segment is anticipated to register a attractive CAGR growth rate of 16.3% during the forecast period 2017 to 2025

Off-street parking site is a parking facility which does not interact with the traffic flow on the road. Off-street smart parking solutions are majorly utilized by governments and municipalities, corporate institutions, commercial institutions and transport facilities. Globally off-street parking is considered as a cost-effective and convenient parking solution. Off-street parking accounts for higher demand for smart parking systems due to rising concerns for secure and open walking space for pedestrians leading to increase in construction of parking lots and garages. The off-street segment for parking site segment for smart parking systems is expected to witness a lucrative CAGR growth of 16.3% in the forecast period.

The research on the Smart Parking market focuses on mining out valuable data on investment pockets, growth opportunities, and major market vendors to help clients understand their competitor’s methodologies. The research also segments the Smart Parking market on the basis of end user, product type, application, and demography for the forecast period 2018–2025. Comprehensive analysis of critical aspects such as impacting factors and competitive landscape are showcased with the help of vital resources, such as charts, tables, and infographics.

This report strategically examines the micro-markets and sheds light on the impact of technology upgrades on the performance of the Smart Parking market.

Smart Parking Market Segmented by Region/Country: North America, Europe, Asia Pacific, Middle East & Africa, and Central & South America

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