Global Smart Parking Management System Market that helps drivers to find a vacant spot using sensors in each parking space by detecting the presence or absence of a vehicle. The automated smart parking system is generally powered by electric motors that move a vehicle to a storage position.

Global Smart Parking Management System Market was valued at +5,011 million in 2018 and is projected to reach +11,554 million by 2025, registering a CAGR of +11% from 2018 to 2025. High defined technological solutions for parking are popping up with the proof of how pervasive and essential IoT technology has become in recent times.

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Key companies operating in the global Smart parking management system software as a service market are Guangdong AKE Technology, Siemens, AMCO, Streetline, Horoad, Jieshun, Dongyang Menics, Adax Security Systems, COMP9

This report segments the Global Smart Parking Management System Market on the basis of Types are: Enterprises and institutions, Schools, Hospitals, Factory, Others

On The basis Of Application, the Global Smart parking management system market is segmented into Close parking system, Middle distance parking system, and Long-distance parking system

Based on segmentation, the Market report is made up of in-depth investigation of the leading regions: Including North America, China, Rest of Asia-Pacific, UK, Europe, Central & South America, and Middle East & Africa.

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In addition, this technology builds for solving the permanent problem associated with parking that leads to creating air pollution. The technology includes components that consist of low-cost sensors, real-time data interference, and smart mobile applications that allow users to monitor available & unavailable parking spots.

Hardware Outlook (Revenue, USD Million; 2018 – 2025):

Pucks (wireless sensors), Cameras & LPRs, Smart Meters, Signage, Parking Gates.Facility to handle the parking of the vehicle suitably with the use of smartphones and the development of infrastructure to support such mobility result in a decrease in the amount of time spent by the user for finding out the vacant parking slot. Furthermore, some solutions facilitate the services, such as online payments, parking time notifications, and even car searching functionalities for very huge parking lots. The Smart parking management system research was provided for, including developments, leading growth status, landscape analysis, and segmentation with product types and application

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By Solution Type: Security and surveillance, Valet and parking reservation, License plate recognition,

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