The global smart parking solutions market size and revenue are expected to increase from over US$ 4.4 Bn in 2022 to US$ 30.84 Bn by 2032, ascending at a stellar 21% CAGR during the forecast period.
Rising Demand For Smart Parking Solutions
The demand for smart parking solutions is on the rise as cities become more congested and parking becomes increasingly difficult. Smart parking solutions are designed to make it easier for drivers to find available parking spots, reduce traffic congestion, and improve air quality. Smart parking solutions use sensors, cameras, and other technologies to detect available spots in real–time and provide drivers with information about where they can park. They also provide data that can be used to optimize traffic flow and reduce emissions from idling vehicles. Smart parking solutions are becoming increasingly popular in cities around the world as they offer a cost–effective way to improve urban mobility.
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The manual management of parking spaces is challenging in infrastructures like industrial parks, shopping malls, and industrial parks because of the massive inflow and outflow of consumer vehicles. The manual management of parking spaces frequently results in the inefficient use of resources, which raises the cost of operations related to vehicle parking. The use of the proper software eliminates these difficulties and gives owners a productive system for managing vehicle parking in a methodical and economical manner.
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Key Companies Profiled
- Aisin Seiki Co.Ltd
- Amano McGann
- Amco S.A.
- Cisco Solutions
- Delphi Automotive PLC
- Kapsch
- Nedap N.V
- Parkmobile
- LLC
- Skidata AG
Key Segments Covered in the Smart Parking Solutions Report
- By System Components & Services
- Smart Parking Software
- Smart Parking System Devices
- Entry/Exit Terminals
- Card Readers
- Validation Solution
- Pay-on-Foot Solution
- LPR System
- Others
- Smart Parking Professional Services
- Consulting
- Deployment and Customization
- Maintenance and Support
- By Solutions
- Smart Parking Access Control Solutions
- Smart Parking Fee & Revenue Collection Solutions
- Smart Parking Reservation Management Solutions
- Smart Valet Parking Management Solutions
- Smart Parking Guidance and Slot Management Solutions
- Other Smart Parking Solutions (Parking Enforcement Management)
- By End Use
- Smart Parking Solutions for Government and Municipalities
- Smart Parking Solutions for Airports
- Smart Parking Solutions for Corporate & Commercial Parks
- Smart Parking Solutions for Commercial Institutions
- Smart Parking Solutions for Healthcare
- Smart Parking Solutions for Other End Uses (Tourist Destinations and Hospitality Sector)
Crucial insights in the Smart Parking Solutions Market research:
- Underlying macro- and microeconomic factors impacting the growth of the Smart Parking Solutions Market Basic overview of the Smart Parking Solutions Market including market definition, classification, and applications.
- Scrutinization of each Smart Parking Solutions Market player based on mergers & acquisitions, R&D projects, and product launches.
- Adoption trend of Smart Parking Solutions Market across various industries.
- Important regions and countries offering lucrative opportunities to Smart Parking Solutions Market stakeholders.
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