Dublin, June 29, 2021 (GLOBE NEWSWIRE) -- The "Smart Parking Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026" report has been added to ResearchAndMarkets.com's offering.
The global smart parking market to grow at a CAGR of around 14% during the forecast period (2021-2026).
A smart parking system (SPS) optimizes parking spaces through automated access control systems, parking guidance systems (PGS), parking reserving barriers and ticketing systems.
It utilizes mechanical arrangements to transport cars from one parking space to another and eliminate the wasted space in a multistory or single-story garage. It uses vehicle counting equipment, video cameras, automatic number plate recognition readers (ANPR) and pavement sensors to determine the occupancy of a parking lot and transmit the data to the control center in real time. It aims to assist in the smooth flow of traffic in congested areas and provide a systematic parking operation.
It also guides users to available parking slots by navigating them via a smartphone application. When positioned as a system, smart parking saves time, decreases management costs and limits the cases of illegal parking in an area.
Rapidly increasing traffic congestion leading to limited space for smooth flow of traffic is the key factor contributing to the market growth. With growing urbanization and rising disposable incomes, there has been a rise in the preference for comfortable and luxurious cars. This has escalated the problem of on-road car parking, consequently resulting in the demand for smart parking systems.
Additionally, an increase in governmental regulations for the development of green and smart cities, industrial parks and economic zones to reduce carbon dioxide emissions have also contributed to the demand for SPS.
Moreover, the system is extremely convenient for the users as it reduces unnecessary paper consumption by replacing cash payments for parking with digital invoices sent directly on the user's smartphone.
Furthermore, the thriving international tourism industry is expected to drive the market as these systems can aid in smooth parking operations in popular and congested tourist destinations.
Key Questions Answered in This Report:
How has the global smart parking market performed so far and how will it perform in the coming years?
What are the key regional markets in the global smart parking industry?
What has been the impact of COVID-19 on the global smart parking market?
What is the breakup of the market based on the system?
What is the breakup of the market based on the technology?
What is the breakup of the market based on the component?
What is the breakup of the market based on the solution?
What is the breakup of the market based on the vertical type?
What is the breakup of the market based on the parking site?
What are the various stages in the value chain of the global smart parking industry?
What are the key driving factors and challenges in the global smart parking industry?
What is the structure of the global smart parking industry and who are the key players?
What is the degree of competition in the global smart parking industry?
Key Topics Covered:
2 Scope and Methodology
3 Executive Summary
4.2 Key Industry Trends
5 Global Smart Parking Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
6 Market Breakup by System
6.1 Guided Assist System
6.2 Smart Park Assist System
7 Market Breakup by Technology
7.1 Ultrasonic Sensors
7.2 Radar Sensors
7.3 Image Sensors
8 Market Breakup by Component
9 Market Breakup by Solution
9.1 Security and Surveillance
9.2 Valet and Parking Reservation
9.3 License Plate Recognition
10 Market Breakup by Vertical Type
10.1 Government and Municipalities
10.2 Commercial Institutions
10.3 Corporate Institutions
10.4 Transport Facilities
11 Market Breakup by Parking Site
11.1 Off-Street Parking
11.2 On-Street Parking
12 Market Breakup by Region
13 SWOT Analysis
14 Value Chain Analysis
15 Porter's Five Forces Analysis
16 Price Analysis
17 Competitive Landscape
17.1 Market Structure
17.2 Key Players
17.3 Profiles of Key Players
Robert Bosch GmbH
Kapsch TrafficCom AG
TKH Group-Park Assist.
Cisco Systems Inc.
Amano McGann Inc.
Smart Parking Ltd
Delphi Automotive PLC
Aisin Seiki Co. Ltd
For more information about this report visit https://www.researchandmarkets.com/r/q6fc0e
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