Press release
Smart Parking Market Analysis Report 2023: Size, Share, Growth, Trends, Top Companies, Revenue, Forecast 2028
Smart Parking Market
The global smart parking market size reached US$ 4.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 9.6 Billion by 2028, exhibiting a growth rate (CAGR) of 12.9% during 2023-2028.
Smart parking is a computer-operated parking establishment that enables humans to achieve a faster and easier way to park their vehicles. It consists of sensors, real-time data interference, and smart mobile applications that allow users to keep track of available and unavailable parking spots. It assists in the smooth flow of traffic in congested areas, provides a systematic parking operation, and guides users regarding the available parking slots by navigating them via a smartphone application. Besides, it helps parking site operators provide various parking conveniences to their customers, such as time-saving, cashless payment options, pre-booking of parking spots, and enhanced vehicle security. Additionally, it aims to offer a seamless driving experience, safety, less traffic and pollution, and proper space utilization to the masses.
Request Free Sample Report: https://www.imarcgroup.com/smart-parking-market/requestsample
Global Smart Parking Market Trends:
The increasing traffic congestion is primarily driving the global smart parking market. Moreover, a significant rise in automated parking solutions integrations, coupled with the rapid advancement in wireless and digital payment technologies is catalyzing the market. Besides this, continuous innovation in wireless sensor-based technology, dynamic messaging, parking sensors, and administrative facilities for viewing data on parking, provision of real-time parking data to citizens, and instant regulation of parking areas, are impacting the market favorably. Furthermore, increasing investments in developing driverless vehicles and numerous government initiatives to build smart cities across the globe are augmenting the market.
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
• Valeo S.A.
• Continental AG
• Robert Bosch GmbH
• Kapsch TrafficCom AG
• Cubic Corporation
• TKH Group-Park Assist.
• Streetline Inc.
• Cisco Systems Inc.
• ParkMe Inc.
• Urbiotica
• Skidata AG
• Amano McGann Inc.
• Swarco AG
• Smart Parking Ltd
• Nedap N.V.
• Delphi Automotive PLC
• Aisin Seiki Co. Ltd
• Siemens AG
• Xerox Corporation
Moreover, the escalating support by the governments for the adoption of smart parking systems, as they help in reducing air pollution, traffic congestion, and carbon emissions, is strengthening the demand. Additionally, the rising implementations to improve traffic flow and reduce traffic congestion across urban cities are acting as another growth-inducing factor. Furthermore, smart parking systems help reduce the cost associated with parking management, such as enforcement, maintenance, and operation expenses, making it an attractive option for cities and parking lot owners, thereby catalyzing the demand globally. Apart from this, the continuous development of IoT, AI, based technologies has led to the development of more sophisticated smart parking systems that can provide real-time information and automated parking management, this is creating a positive market outlook.
Explore Full Report with TOC & List of Figures: https://www.imarcgroup.com/smart-parking-market
Key Market Segmentation:
Breakup by System:
• Guided Park Assist System
• Smart Park Assist System
Breakup by Technology:
• Ultrasonic Sensors
• Radar Sensors
• Image Sensors
• IoT
• Others
Breakup by Component:
• Hardware
• Software
• Services
Breakup by Vertical Type:
• Government and Municipalities
• Commercial Institutions
• Corporate Institutions
• Transport Facilities
• Others
Breakup by Solution:
• Security and Surveillance
• Valet and Parking Reservation
• License Plate Recognition
Breakup by Parking Site:
• Off-Street Parking
• On-Street Parking
Breakup by Region:
• North America (United States, Canada)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the Report:
• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• COVID-19 Impact on the Market
• Porter's Five Forces Analysis
• Historical, Current and Future Market Trends
• Market Drivers and Success Factors
• SWOT Analysis
• Structure of the Market
• Value Chain Analysis
• Comprehensive Mapping of the Competitive Landscape
TOC for the Report:
• Preface
• Scope and Methodology
• Executive Summary
• Introduction
• Global Market
• SWOT Analysis
• Value Chain Analysis
• Price Analysis
• Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
Explore the Latest Research Reports by IMARC Group:
• https://www.imarcgroup.com/india-heat-exchanger-market
• https://www.imarcgroup.com/india-welding-consumables-market
• https://www.imarcgroup.com/india-crane-market
• https://www.imarcgroup.com/indian-milkshake-market
• https://www.imarcgroup.com/india-higher-education-market
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: Sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
Americas:- +1 631 791 1145 | Africa and Europe :- +44-702-409-7331 | Asia: +91-120-433-0800
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Smart Parking Market Analysis Report 2023: Size, Share, Growth, Trends, Top Companies, Revenue, Forecast 2028 here
News-ID: 2940743 • Views: …
More Releases from IMARC Group
Automotive Control Cables Manufacturing Plant Setup Report 2025: Machinery, Raw …
Automotive control cables are essential components used to transmit mechanical force in vehicles, enabling the smooth operation of various systems such as brakes, clutches, accelerators, gear shifts, and seating mechanisms. These cables are designed for durability, flexibility, and high performance under diverse driving conditions. Their demand is directly linked to the growth of the automotive industry, aftermarket sales, and increasing consumer preference for enhanced driving comfort and safety.
Setting up an…
Halal Cosmetics Market Size, Trends, Key Players, Opportunity and Forecast 2025- …
IMARC Group, a leading market research company, has recently released a report titled "Halal Cosmetics Market Size, Share, Trends and Forecast by Type, Distribution Channel, and Region, 2025-2033." The study provides a detailed analysis of the industry, including the global halal cosmetics market size, trends, share and growth forecast. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Halal Cosmetics Market Highlights:
• Halal Cosmetics Market…
Comprehensive Castor Oil Processing Plant Project Report 2025: Setup Guide, Econ …
Castor oil is a versatile vegetable oil extracted from the seeds of the Ricinus communis plant. It is widely used in pharmaceuticals, cosmetics, food processing, lubricants, paints, coatings, and biodiesel production owing to its unique chemical properties, including high ricinoleic acid content. Castor oil derivatives also serve as key raw materials in the polymer, chemical, and industrial sectors.
Establishing a castor oil processing plant involves steps such as seed cleaning, dehulling,…
Honey Processing Plant Report 2025: Capital Investment, Operating Expenses and M …
Honey is a natural sweetener produced by honeybees and is valued for its nutritional, medicinal, and industrial applications. It contains antioxidants, enzymes, vitamins, and minerals that make it a popular ingredient in food and beverages, pharmaceuticals, cosmetics, and personal care products. Processed honey is widely consumed as a sweetener, used in bakery and confectionery items, beverages, dietary supplements, and skincare formulations.
Setting up a honey processing plant involves operations such as…
More Releases for Park
Adventure Theme Park Market Is Booming Worldwide : Sochi Adventure Park, Adventu …
Latest Study on Industrial Growth of Adventure Theme Park Market 2023-2028. A detailed study accumulated to offer Latest insights about acute features of the Adventure Theme Park market. The report contains different market predictions related to revenue size, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends…
Adventure Theme Park Market Set for More Growth | Adventure Park, Dorset Adventu …
Advance Market Analytics published a new research publication on "Adventure Theme Park Market Insights, to 2028" with 232 pages and enriched with self-explained Tables and charts in presentable format. In the Study you will find new evolving Trends, Drivers, Restraints, Opportunities generated by targeting market associated stakeholders. The growth of the Adventure Theme Park market was mainly driven by the increasing R&D spending across the world.
Get Free Exclusive PDF Sample…
Adventure Theme Park Market is Going to Boom | WildPlay, Adventure Park Lubbock, …
Global Adventure Theme Park Market is latest research study released by HTF MI evaluating the market risk side analysis, highlighting opportunities and leveraged with strategic and tactical decision-making support. The market Study is segmented by key a region that is accelerating the marketization. The report provides information on market trends and development, growth drivers, technologies, and the changing investment structure of the Global Adventure Theme Park Market. Some of the…
Adventure Theme Park Market SWOT Analysis by Key Players FUNLAND ADVENTURE PARK, …
The latest research on "Adventure Theme Park Report 2021" offered by HTF MI provides a comprehensive investigation into the geographical landscape, industry size along with the revenue estimation of the business. Additionally, the report also highlights the challenges impeding market growth and expansion strategies employed by leading companies in the "Market". Some of the Major Key Players Covered in this report are Adventure Park Usa, Adventure Park Lubbock, Adventure Park…
Theme Park and Amusement Park Market is Booming Worldwide with Hopi Hari Park, H …
The latest research on “Global Theme Park and Amusement Park Report 2021” offered by HTF MI provides a comprehensive investigation into the geographical landscape, industry size along with the revenue estimation of the business. Additionally, the report also highlights the challenges impeding market growth and expansion strategies employed by leading companies in the “Market”.
Get Free Sample PDF including full TOC, Tables and Figures and Available customizations) in Global Theme Park…
Adventure Theme Park Market Research Capital expenditure, SWOT Analysis includin …
AMA published a new study on the Global Adventure Theme Park Market exclusive insights, Opportunities and revenue size estimation and growth factors. The Study is segmented by major and emerging countries having high potential and elaborates qualitative and quantitative information including market size breakdown by revenue and volume (if applicable).The study precisely caters drivers, restrains to capture changing market dynamics affected in current scenario. To reach market size forecast and…
