Hybrid Smart Parking Platform Market 2018 by Global Leaders: Streetline, Libelium, Tata Elxsi, IPS Group, NuPark, Huawei Technologies, Acer, Robert Bosch

Market Research Future published a research report on “Hybrid Smart Parking Platform Market Research Report- Global Forecast 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.

Hybrid Smart Parking Platform Global Market - Overview

Smart parking solutions are a need for today owing to the increasing number of vehicles and the lack of parking spaces. Many companies are investing into the smart parking management market. Streetline has been recognized by Frost & Sullivan with the global product line strategy leadership award for the year 2016. Streetline uses machine learning techniques to deploy hybrid smart parking platform in order to merge data that is collected for real time parking guidance and analytics. Streetline is considered to be a world leader in smart parking solutions and management.

North America region holds the largest market share of global hybrid smart parking platform market followed by Europe and Asia Pacific regions. The growth is North America region is mainly dominated by U.S. and Canada and is attributed to the increasing number of vehicles on street and growing awareness about pollution measures in the region. The region also has a well-established infrastructure which allows implementation of advanced technologies and better connectivity for real time data streaming.

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Hybrid smart parking platform market has been segmented on the basis of component, parking type, solution and application. The parking type segment is further bifurcated into on street parking and off street parking. On street parking refers to parking of vehicles along the streets whereas off street parking refers to parking of vehicles in the garages and parking lots. This is owning to the growing demand for smart city solutions and increasing need for parking space management in order to avoid traffic congestion and maintain better air quality by reducing the traffic problems.

Hybrid smart parking platform helps in optimizing parking resources with continuous streaming of data from streets. It offers real time analysis of data and accurate results on parking occupancy based on multiple data sources.
The global hybrid smart parking platform market is expected to grow at approx. USD 2,134 Million by 2023, at 18% of CAGR between 2017 and 2023.

Key Players:

The prominent players in Hybrid Smart Parking Platform Market are – Streetline (U.S.), Libelium (Spain), Tata Elxsi (India), IPS Group, Inc. (U.S.), Kapsch TrafficCom AG (Germany), NuPark (U.S.), Siemens AG (Germany), Huawei Technologies Co. Ltd. (China), Acer Inc. (Taiwan), Robert Bosch GmbH (Germany) among others.

Hybrid Smart Parking Platform Global Market - Regional Analysis

The geographical analysis of hybrid smart parking platform market is dominated by North America, which is estimated to account for the largest share of the market, followed by Europe, whereas Asia-Pacific is projected to grow at the fastest rate during the forecast period. The major growth factor in hybrid smart parking platform market in North America is attributed to technological advancements and increasing number of vehicles leading towards growing traffic concerns.

Hybrid Smart Parking Platform Global Market - Segmentation

• Segmentation by Component: Hardware, Software, Services.
• Segmentation by Parking Type: On-Street Parking, Off-Street Parking.
• Segmentation by Applications: Government, Residential, Commercial
• Segmentation by Solution: Security and Surveillance, Valet Parking Management, Parking Reservation Management, and License Plate Recognition
• Segmentation by Region: North America, Europe, Asia Pacific, Latin America, Middle East & Africa.

Industry News

January 2018, Autonomous technology, development of smart cities dominate CES. Clarion and Hitachi demonstrated an autonomous valet parking system, which featured a completely driverless vehicle in a closed-off parking area. Another demo featured, park by memory technology, illustrating how vehicles can learn to park itself in familiar settings, such as home garages. Visteon Corp. introduced the DriveCore autonomous controller, a platform that enables automakers to build autonomous driving solutions in an open collaboration model. It showed a range of all-digital display systems, including an instrument cluster with integrated driver monitoring infrared cameras for facial recognition and head and eye-gaze tracking.

January 2018, SpotHero Announces Voice-Activated, In-Car Parking Reservations via the Google Assistant in Android Auto. SpotHero has launched a new integration that enables drivers to book parking with the Google Assistant using voice commands. Drivers with Android Auto will be able use SpotHero and the Google Assistant to find and pay for parking on the go, completely hands-free. The company announced their first ground-breaking integration, by working with the Google Assistant to bring voice-activated parking to drivers seeing a huge opportunity to improve not only the parking experience, but also the overall driving experience.

January 2018, FlashParking's Trivia-based Video Game Parking Rockstar Challenges Members of the Parking Industry. A trivia-based video game, Parking Rockstar will put players' parking knowledge and skills to the test. The Parking Rockstar Challenge is a fun way to engage and reward members of the industry for their parking knowledge prowess.

January 2018, American Tower Corporation And Philips Lighting Honored With 2018 IoT Breakthrough Awards. American Tower and Philips Lighting were recognized for their innovative efforts to co-develop an aesthetically designed smart light pole that blends seamlessly into the urban landscape, delivering both 4G/5G wireless network capacity for multiple mobile network operators and quality energy-efficient LED lighting in a single solution. This solution will enable new applications, including E911, smart parking, traffic management and more.

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Intended Audience

• Technology Investors
• Research/Consultancy Firms
• Infrastructure Providers
• Original equipment manufacturers (OEMs)
• OEM technology solution providers
• Smart City
• Government Organization
• Software vendors

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