Smart parking Market Outlook: What changes can Bring Big Development Impact?

According to the new research report published by The Insight Partners, titled "Smart parking market - Global Analysis and Forecast By Parking Sites (Off-Street and On-Street), Components, End-user Industries (Transport Facilities, Government & Municipalities, Commercial Institutions, and Corporate Institutions)", the global smart parking market is expected to reach US$ 398.6 million in 2016 to US$ 1,462.3 million by 2025 at a CAGR of 15.7% between 2017 and 2025.

Get a Sample PDF https://www.theinsightpartners.com/sample/TIPTE100000553/?utm_source=OpenPR&utm_medium=10593

Key Companies: 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

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 Indian smart parking market is expected to grow at a CAGR of 12.6% during the forecast period 2017 to 2025. India a well-known overpopulated country with millions of people suffering through the issues of unorganized and unmanageable gridlocks. The parking system in this country has no common standard and introduction of smart parking systems would generalize the entire parking system in the country. Moreover, the country has been planning to deploy its initial projects in its some of the hi-tech cities. India is expected to foresee high demand for more efficient parking systems in coming future.

In 2016, Europe accounted for the second largest revenue share of little more than two-fifth of the total market share, followed by North America.

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.

Speak to Analyst: https://www.theinsightpartners.com/speak-to-analyst/TIPTE100000553?utm_source=OpenPR&utm_medium=10593

Global Smart Parking Systems Market Segmentation
By Parking Site
Off-Street Parking
On-Street Parking

By Components
Hardware
Software
Service

By End-user Industry
Transport Facilities
Governments & Municipalities
Commercial Institutions
Corporate Institutions

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

Directly Purchase a copy of this research study @ https://www.theinsightpartners.com/buy/TIPTE100000553/?utm_source=OpenPR&utm_medium=10593

Note: If you have any special requirements related to Smart Parking Systems Market Report please let us know and we will offer you the report as you want.

Contact Person: Sameer Joshi
E-mail: sales@theinsightpartners.com
Phone: +1-646-491-9876

About Us:
The Insight Partners is a one-stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Healthcare, Manufacturing and Construction, Media and Technology, Chemicals, and Materials.

This release was published on openPR.