Global $12.7B Smart Parking Market Assessment 2020-2027 - Growing Adoption of Integrated Automated Solutions Boosting Growth

Dublin, Jan. 26, 2021 (GLOBE NEWSWIRE) -- The "Smart Parking Market, Global Forecast by Type, Application, End-User, Regions, Company Analysis" report has been added to ResearchAndMarkets.com's offering.

According to the research analysis, the Global Smart Parking Market is expected to grow with double-digit CAGR and reach USD 12.7 billion by 2027.

Globally, Vehicle parking lies at the intersection of mobility management as well as urban space. Over time, there were many generations which have offered numerous opportunities to the users. In recent years, parking generation provides basic automation that allows users to navigate the complete parking life cycle independently, for instance, knowing fee settlement, ticketing, parking, and parking occupancy status.

The factor that is boosting this market is the growing adoption of integrated automated solutions coupled with wireless technologies' advancements. The surging of digital payment technologies in the market is likely to contribute to the growth over the forecast period. However, high implementation cost and non-availability of supporting infrastructure are expected to hamper this market's growth.

As the global urban population has reached 7.5 billion in 2020, according to Census Bureau's International; smart parking is playing a significant role in bringing about improvements in convenience, congestion, lower costs, urban mobility and the delivery of practical information and intelligence.

Smart Parking technology's adoption equips operators with the ability to deliver a wide range of additional services such as public broadband, safety video surveillance, air quality, and lighting control more efficiently, with new intelligent networks and greater automation via the Smart Spot network gateway products. The app included payment function features that alarm people when they get paid, allowing them to top up instantly.

Key Topics Covered

1. Introduction

2. Research & Methodology

3. Executive Summary

4. Market Dynamics
4.1 Growth Driver
4.2 Challenges

5. Global Smart Parking Market

6. Market Share - Global Smart Parking Analysis
6.1 By Type
6.2 By Application
6.3 By End-user
6.4 By Regions

7. Type - Global Smart Parking Market
7.1 On-street
7.2 Off-street

8. Application - Global Smart Parking Market
8.1 Security & Surveillance
8.2 Smart Payment System
8.3 License Plate Recognition
8.4 Other Application

9. End-user - Global Smart Parking Market
9.1 Transport Facilities
9.2 Governments and Municipalities
9.3 Commercial Institutions
9.4 Corporate Institution

10. Regions - Global Smart Parking Market
10.1 North America
10.2 Europe
10.3 Asia Pacific
10.4 Middle East & Africa
10.5 Latin America

11. Mergers & Acquisitions

12. Company Analysis
12.1 ASSA ABLOY AB
12.1.1 Overview
12.1.2 Recent Developments
12.1.3 Revenue Analysis
12.2 Allegion PLC
12.2.1 Overview
12.2.2 Recent Developments
12.2.3 Revenue Analysis
12.3 Aisin Seiki Co. Ltd.
12.3.1 Overview
12.3.2 Recent Developments
12.3.3 Revenue Analysis
12.4 Siemens AG
12.4.1 Overview
12.4.2 Recent Developments
12.4.3 Revenue Analysis
12.5 Bosch
12.5.1 Overview
12.5.2 Recent Developments
12.5.3 Revenue Analysis

For more information about this report visit https://www.researchandmarkets.com/r/enlzbo

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