Smart Parking Market 2020 By Growth Opportunities, Key Players, Revenue, Emerging Trends And Business Strategy Till 2025
Global Smart Parking Market is valued at USD 5.62 Billion in 2018 and expected to reach USD 12.83 Billion by 2025 with the CAGR of 12.5% over the forecast period.
Increasing adoption of integrated automated solutions coupled with the
advancements in wireless technologies and proliferation of digital payment
technologies are some of the major factors expected to drive the growth of the
Global Smart Parking Market.
Get Sample of This Report@ https://brandessenceresearch.com/requestSample/PostId/1127 Smart Parking is a parking solution that includes in-ground smart parking sensors, cameras or counting sensors. Also it's a parking strategy that combines technology and human innovation in an attempt to use as few resources as possible as fuel, time and space to achieve faster, easier and denser parking of vehicles. The car parking system consists of wireless sensors, parking management system, parking guidance device, and smartphone app. The sensors connected in parking spaces are used to collect the real-time data of the parking situation. The collected data are transmitted to the parking management system and evaluated. Some companies also offer other in-app information, such as parking prices and locations. This gives the possibility to explore every parking option available. For example; smart parking using mobile IoT is one of the best tools a city has to solve parking and congestion issues. This guide explains how a city or parking operator can best approach a sensible parking project and what steps they need to require making sure success.
Smart Parking Companies:
Global Smart Parking market Report covers prominent players are
like 3M Co, Conduent Inc, Flowbird SAS, International Business Machines Corp,
IPS Group Inc, Kapsch Aktiengesellschaft, Libelium Communications Distribuidas
SL, Nedap NV, Siemens AG, SKIDATA AG and others.
Global Smart Parking Market report is segmented on the basis of
type, technology, application, end-user and regional & country level. Based
upon type, smart parking market is classified as on-street, off-street. Based
upon technology, smart parking market is classified into IOT, ultrasonic and
RFID. Based upon application, the market is classified as security &
surveillance, smart payment system, e-parking and license plate recognition.
Based upon end-user, smart parking market is classified as commercial and
government.
The regions covered in this Global Smart Parking market report are
North America, Europe, Asia-Pacific and Rest of the World. On the basis of
country level, market of Smart Parking is sub divided into U.S., Mexico,
Canada, UK, France, Germany, Italy, China, Japan, India, South East Asia, GCC,
Africa, etc.
Increasing Adoption of Integrated Automated Solutions Coupled with
the Advancements in Wireless Technologies and Proliferation of Digital Payment
Technologies are some of the Major Factors Driving the Market Growth.
Increasing adoption of integrated automated solutions coupled with
the advancements in wireless technologies are expected to drive the growth of
smart parking market. Major technologies used for the deployment of efficient
systems include sensing devices, machine-to-machine (M2M) communication, smart
parking meters, data analytics, mobile applications for e-reservation of slots,
and online payments. Currently there are 9 billion interconnected devices and
it is expected to reach 24 billion devices by 2020. The Global system for
mobile communications predicted that the USD 1.3 trillion revenue opportunities
for mobile network operators. It covers vertical segments such as health,
automotive, utilities and consumer electronics. In 2025, the IoT data analyzed
and used to change business processes will be as much as all of the data
created in 2020.
Global Smart Parking market Segmentation:–
By Type: On-street, Off-street
By Application: Security & Surveillance, Smart Payment System,
E-parking, License Plate Recognition
North America is Expected to Dominate the Global Smart Parking
Market
North America is expected to dominate the global smart parking
market due to increasing innovation and automation in vehicles, and rising
consumer’s preference for driver assistance features in passenger cars in this
region. The U.S. auto industry has been automated for decades. According to the
state's Department of Motor Vehicles, 2.88 million Autonomous vehicle companies
with a permit to test their technologies with a safety driver in California
reported that their vehicles crowd nearly 2.9 million miles during the most
recent reporting period.
Full Research Report @ https://brandessenceresearch.com/automotive-and-transport/smart-parking-market-size
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