The global Smart Parking System market will witness a +15% CAGR during the forecast period and is expected to reach $ +4 billion by 2026.
Smart parking systems usually get information about parking spaces available in a specific geographic area, and processes it to find place the vehicle in an available location in real-time. This includes low-cost sensors, real-time data collection, and mobile phone ready use. An automatic payment system that allows you to reserve parking in advance and predict where you are likely to find a spot very accurately. Smart parking systems helps one of the biggest problems of urban driving; finding empty parking spaces and controlling illegal parking.
Top Key Players:
3M, Amano Corporation, BMW Group, Bosch, Cubic Corporation, Kapsch TrafficCom AG, Nortek Control Systems Ltd., Siemens, Swarco AG, Xerox Corporation
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A new elaborated report titled as Global Smart Parking System market is now released into its database by Report Consultant based on an extensive study of the market. Knowledge concerning the future market trends yet because the current situation of the market may be an important instrument for survival and growth within the perpetually evolving business. This assists the key players in developing a firm strategy that is flexible enough to keep up with future events in the market space.
Segmentation of Smart Parking Systems Market:
Based on Component:
Based on Parking Site:
Based on End-users:
- Transport & Aviation
Furthermore, the report also explains the causes and factors responsible for the industry trends enabling the reader to understand the various approaches adopted by the key players to gain a firm position in the industry. This data is predicated upon fact-finding exploration that aids the reader in distinctive options like the reliability, rate of growth, drivers, restrains and opportunities creating it simple for the new yet because the existing key players to require conscious company selections as per the wants.
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An increase in the disposable income and noticeable features such as the adoption of IoT and machine-to-machine (M2M) devices are giving the market a financial boost. An incredible amount of resources is being invested in its development which is resulting in the market progression. This Global Smart Parking Systems market is further segmented into regions such as North America, Europe, China, Japan, Southeast Asia, and India.
Market strategies, challenges, prospects for advancements along with a detailed study of the prominent aspects affecting the market are included in this substantial report. It also sheds light upon the ongoing developments in the field as well as prevailing strategies to thrive in this constantly evolving market. To conclude, this report covers all the necessary financial, economic and social factors relevant to the industry enhancing the reader with the information required to make an informed decision.
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