Smart Parking Market Analysis, Growth, Industry Growing Demand and Forecast – 2027

Smart parking market size was valued at $5,001.1 million in 2017, and is projected to reach $11,553.6 million by 2027, registering a CAGR of 11% from 2021 to 2027.

Smart parking is an intelligent parking system that helps drivers to park safely. The available space in the parking space is represented by a sign or symbol using embedded software and sensors. Proper management of the vehicle informs the driver of empty space accurately

This technology is a hardware component of a parking space that uses different types of sensors to detect the presence of a vehicle. The smart parking system provides real-time data information on the availability of nearby parking spaces and allows the driver to accommodate those slots without interference from other vehicles.

The key players profiled in the report include Amano Mcgann, Inc., Urbiotica, Smart Parking Ltd., IEM SA, IPS Group Inc., Klaus Multiparking Systems, Swarco AG, PArklayer, Omnitec group, Dongyang Menics Co. Ltd, Skidata AG, and Mindteck.

Smart Parking Key Market Segments:

By Type

On-street
Off-street

By Technology

IoT
Ultrasonic
RFID

Scope of the Report

The research study analyzes the global Smart Parking industry from 360-degree analysis of the market thoroughly delivering insights into the market for better business decisions, considering multiple aspects some of which are listed below as:

Recent Developments

o Market Overview and growth analysis
o Import and Export Overview
o Volume Analysis
o Current Market Trends and Future Outlook
o Market Opportunistic and Attractive Investment Segment

Geographic Coverage

o North America Market Size and/or Volume
o Latin America Market Size and/or Volume
o Europe Market Size and/or Volume
o Asia-Pacific Market Size and/or Volume
o Rest of the world Market Size and/or Volume

Key Questions Answered by Smart Parking Market Report

1. What was the Smart Parking Market size in 2018 and 2019; what are the estimated growth trends and market forecast (2021-2027).

What will be the CAGR of Smart Parking Market during the forecast period (2021-2027)?
3. Which segments (product type/applications/end-user) were most attractive for investments in 2018? How these segments are expected to grow during the forecast period (2021-2027).
4. Which manufacturer/vendor/players in the Smart Parking Market was the market leader in 2018?
5. Overview on the existing product portfolio, products in the pipeline, and strategic initiatives taken by key vendors in the market.