Smart Parking Market 2018
Smart Parking Market Share, Size, Trends, And Business Opportunity Analysis Report 2018 include historic data, with forecast data to 2023. Smart Parking Market report is helpful for future strategy development, and to know about Market Drivers, Restraints, Opportunities, And Global market size, share, Growth, Trends, key players forecast to 2023
Smart Parking Market Information Report by Parking Site (On-Street and Off-Street), Technology (SmartApp, In-Ground Vehicle Detection Sensor, RFID, Ultrasonic, and Others), and region.
Smart Parking Market Information Report by Parking Site (On-Street and Off-Street), Technology (SmartApp, In-Ground Vehicle Detection Sensor, RFID, Ultrasonic, and Others), and region.
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The Key Players in Global Smart Parking Market Are:
Amano McGann, Inc. (U.S.), Smart Parking Limited (Australia), IEM SA (Switzerland), IPS Group Inc. (U.S.), Klaus Multiparking Systems (Germany), PArklayer (India), Omnitec group (UAE), Mindteck (India), Robert Bosch GmbH (Germany) and Dongyang Menics Co., Ltd (South Korea)
Smart Parking Market, By Segmentation:
The smart parking market is segmented based on parking site, technology, and region. On the basis of parking site, Off-Street segment accounted for the largest share with 68.45% in the global smart parking market due to growth in automotive industry. The off-street parking is generally used for parking the vehicles anywhere but not on the street. There are various garages and parking lots available for parking the vehicles. This is one of the safe parking method as compared to on-street parking. On the basis of technology, the market has been as SmartApp, ultrasonic, RFID, In-ground vehicle detection sensor, and others. SmartApp segment accounted for the largest share with 34.14% in the global smart parking market. Ultrasonic is the second largest segment on the basis of technology and accounted for 26.25% share in the same year. The SmartApp is an integrated technology that has been developed to help the drivers on the real time availability of the parking space in nearby place. The SmartApp is widely used because any person sitting in the car can find the place for parking the vehicle in convenient manner. Ultrasonic has accounted for the second largest segment in smart parking market with a market share of 35.01% in 2016.
Smart Parking Market, By Region:
On the basis of region, the market is segmented as North America, Asia Pacific, Europe, and Rest of the World. Asia Pacific region has accounted for the largest market share due to the presence of China, Japan and India. The high growth rate in the registration of new cars worldwide, with major boom from regional economies such as Asia Pacific (APAC), will open the window of opportunities for parking management business. Smart city concept is a new approach to redesigning cities and conceiving solutions to recent urban challenges such as traffic congestion, rapid expansion of urban population, increased energy consumption and increased greenhouse gas emission. Smart city aims to solve these challenges based upon foundations of good urban planning, economic competitiveness and sustainable practices that use emerging information and communication technologies. Europe accounted for the second largest market during the forecast period due to growing urbanization. The growing urbanization has led to the increased demand for infrastructure including transportation and building. Smart cities provide higher technology through mobile technology, optimize existing infrastructure, and create land use, in an efficient way. This will lead to growing demand for smart parking in smart cities. In the U.S., the National Institute of Standards Technology (NIST), part of U.S. Department of Commerce, has started working on the deployment of smart city development. The design of the framework was built to address two main concerns that are the interoperability and portability of ICT development across cities, and the need for standard architectural principles. This framework will lead to the demand for smart cities, which will ultimately result in the development of the smart parking market. Canadian market for automotive industry is rising steadily. The vehicle sales have continued to grow in the recent years. As of March, 2017, the sales of electric vehicles in Canada has reached 19,83,745 units, which shows that in the coming years, the sales would increase at a much higher rate. Government initiative and rising preference for vehicles is expected to be the major growth influencer of the Canada market. In Europe, there has been constant development for formulating strategy in order to achieve the growth in the metropolitan areas. This increase in the development will drive the smart parking market in Europe.
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