North America Smart Parking Market 2021-2031, Size, Share, Major Players, Growth Rate, Industry analysis, Future Outlook, and Forecast: Ken Research

Smart parking is an intelligent parking system that helps the drivers for safe parking. Available space in parking slot is indicted by sign or symbol with the assistance of embedded software and sensors. The vacant space is informed to the driver presently due to the appropriate management of vehicle. This technology uses the different types of sensors as a hardware component in the parking slot to detect existence or absence of the vehicles. Smart parking system delivers the real-time data information concerning the availability of nearby parking space and enables the driver to accommodate that slot without any interference of other vehicles.

According to the report analysis, 'North America Smart Parking Market 2020-2030 by Component (Hardware, Software, Service), System (Guided, Smart), Parking Type (Off-street, On-street), Solution, Technology (Ultrasonic, Image, Radar, RFID, IoT), Vehicle Type, End User (Commercial, Government, Residential), and Country: Trend Forecast and Growth Opportunity' states that North America smart parking market is predicted to develop during the forecast period owing to the limited pace for the smooth flow of traffic owing to the proficient growth in the traffic congestion, developing need for the proficient usage of land and proper parking management, and technological innovations in the digital and IoT based technology.

Amano McGann, Inc., BMW AG (ParkNow GmbH, Parkmobile LLC), CivicSmart, Inc., Continental AG, Dongyang Menics Co., Ltd., IEM SA, IPS Group Inc., Klaus Multiparking Systems, ParkMe Inc., Robert Bosch GmbH, Siemens AG, Smart Parking Limited, Swarco AG, TKH Group-Park Assist., Urbiotica, S.L. and many more are the key companies which recently operating in the North America smart parking market more actively for leading the highest market growth, registering the great value of market share, generating the highest percentage of revenue, keep maintaining the governing position and obtaining the competitive edge by increasing the features and benefits of smart parking, establishing the several research and development programs, implementing the policies of profit making and strategies of expansion, delivering the better customer satisfaction, spreading the awareness connected to the applications and advantages of smart parking, improving the qualitative and quantitative measures of such, analysing the strategies and policies of government as well as contenders and decreasing the associated prices of such.

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In addition, this technology is built for solving the permanent problem linked with parking that affects the ecosystem. The technology involves components that comprise of low-cost sensors, real-time data interference, and smart mobile applications that enable the users to monitor prevalent & unavailable parking spots. Facility to handle the parking of the vehicle suitably with the usage of smart phones and development of infrastructure to assistance such mobility result in deduct in the amount of time spent by the user for finding out the available parking slot. Furthermore, some solutions amenities the services, such as online payments, parking time notifications, and even car searching functionalities for very enormous parking lots.

Increase in parking concern around the globe, growth in requirement for Internet of Things (IoT) based technology, and high implementation rate in number of vehicles drive the requirement for global smart parking market. Therefore, it is predicted that during the near period the market of smart parking will augment more proficiently over the review period.

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Related Report:
https://www.kenresearch.com/technology-and-telecom/it-and-ites/smart-parking-market/321310-105.html

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