Smart Parking Market Global Sales, Revenue, Price and Gross Margin
Posted by Rishikesh Kurane on August 30th, 2019
Smart Parking Market Share, Size, Trends, And Business Opportunity Analysis Report 2019 include historic data, with forecast data to 2023. Smart Parking Industry 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.
Market Scenario
Smart Parking is the system that helps the driver to find the vacant spot for parking the vehicle. The parking system detects the parking space with the help of sensors and directs the drivers about the vacant space. The various technologies that are used in smart parking are smartapp, ultrasonic, RFID, and others. The smart parking market is expected to grow at CAGR of around 10.97% during the period 2017 to 2023.
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Key Players:
BMW Group (Germany), Robert Bosch GmbH (Germany), Valeo SA( France), Cubic Corporation (U.S.), Amco S.A.(Greece), Siemens AG, Xerox Corp.(U.S), Altiux Innovations(Bangalore), Continental AG (Germany ), CivicSmart, Inc.(U.S) and others are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Smart Parking Market.
Industry/ Innovation/ Related News:
Key strategies followed by most companies within the global Smart Parking market were merger & expansion.
On September 2017, Amano McGann had partnered with ITR to expand its base in South Carolina to provide sales, services, and support in this region. The company has partnered with various companies to expand its base in different regions. On 22 May, 2017, Amano McGann, Inc. had partnered with PSX to provide sales, service, and support in Colorado. The partnership with Parking Panda will provide an unprecedented digital access to thousand of parking garages. The partnership with Aprica on 29th June, 2015, will provide EMV to parking payment system globally.
On March 1, 2017, Smart Parking Limited has launched a new smartspot gateway solution to meet the needs of amrt city operators. It will provide a comprehensive information about the connection of smart vehicle parking sensors. On December 8th, 2016, Smart Parking Limited has expanded its services at Fistral Beach. Smart Parking Limited has been working with Fistral Beach operators in order to manage the site car parking. Smart Parking Limted has also expanded its base in Canberra in order to deliver SmartPark solution which will enable the drivers to identify the parking space on-site.
On April 2016, IEM SA has launched Presto Park as its new brand for the user of on-street parking. It is installed with a set of unique portal with online services that will ease the life of drivers. The design of the product are made autonomous so as to reduce the energy consumption by the equipment.
In January 2017, MIndteck became partner with CMMI Institute to provide organization with effective processing and improve their performance. In 2016, the company had expanded in Midwest so as to implement growth strategy in U.S. The company has also provided innovative smart parking solution to New Delhi Municipal Corporation (NDMC). This will expand its base in different region to cater different customers and clients.
Global Smart Parking Market – Segmentation
The Global Smart Parking Market is segmented in to 3 key dynamics for the convenience of the report and enhanced understanding;
Segmentation by Parking Site : Comprises On-street and Off-street
Segmentation by Solutions : Comprises Security & Surveillance, Valet & Parking Reservation, and others
Segmentation by Application : Comprises transport transit, government, and commercial
Segmentation by Regions : Comprises Geographical regions - North America, Europe, APAC and Rest of the World.
Global Smart Parking Market: Regional Analysis
North America is expected to dominate the market because the solution providers in U.S. are mainly focusing on providing the spot parking navigation. The spot parking navigation helps the driver to find the parking space in heavy traffic areas. North America has almost 800 million space for parking that includes garages and surface parking lot. The increased in the parking space will result in the growth of smart parking industry in future. Asia Pacific is expected to grow at highest growth rate due to the increase in the production of vehicles in emerging countries such as India and China.
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