Press release
Global Smart Parking Systems Market: Industry Outlook, Growth Prospects, Key Opportunities, Size, Share And Latest Trends Forecast To 2032
Smart Parking Systems Global Market
The Business Research Company's Smart Parking Systems Global Market Report 2023 identifies The increasing number of vehicles as the major driver for the Smart Parking Systems market's growth in the forecast period. A vehicle is a mechanical device intended for travel, usually on highways or other flat surfaces. Vehicle owners may greatly benefit from smart parking systems, which save time and effort, decrease stress, save money, increase safety, make parking more accessible, and make reservations and pre-booking easier.
The global smart parking systems market is expected to grow from $5.89 billion in 2022 to $7.11 billion in 2023 at a compound annual growth rate (CAGR) of 22.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The smart parking systems market is expected to reach $15.17 billion in 2027 at a CAGR of 20.9%.
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Major competitors in the Smart Parking Systems market are Bayerische Motoren Werke AG, Siemens A.G., IBM Corporation, Cisco Systems Inc., Swarco AG, Kapsch TrafficCom.
A key trend in the Smart Parking Systems market includes Technological innovations. Major companies operating in the smart parking systems market are adopting new technologies to sustain their position in the market.
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The Smart Parking Systems market is segmented -
1) By Type: Off-Street Parking, On-Street Parking
2) By Hardware: Pucks, Cameras And LPRs, Smart Meters, Signage, Parking Gates
3) By Software: Parking Guidance System, Analytics Solutions
4) By Service: Consulting Service, Engineering Service, Mobile App Parking Service
5) By Application: Commercial, Government, Transport Transit
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Smart Parking Systems market.
The Business Research Company's "Global Smart Parking Systems Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Smart Parking Systems Market Include:
1. Executive Summary
2. Smart Parking Systems Market Characteristics
3. Smart Parking Systems Market Trends And Strategies
4. Smart Parking Systems Market - Macro Economic Scenario
5. Smart Parking Systems Market Size And Growth
……
27. Smart Parking Systems Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Smart Parking Systems Market
29. Smart Parking Systems Market Future Outlook And Potential Analysis
30. Appendix
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