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Smart Parking Market 2018 Global Expected to Grow at CAGR of 10.97% and Forecast to 2023

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Smart Parking Market 2018

Global Smart Parking Market Information by Parking site (On-street, Off-street), by Solutions (Security & Surveillance, Valet & Parking Reservation and other) By Application (Transport Transit, Government, Commercial) – Forecast to 2022

This report provides in depth study of “Smart Parking Market” using SWOT analysis i.e. Strength, Weakness, Opportunities and Threat to the organization. The Licorice Candy Market report also provides an in-depth survey of key players in the market which is based on the various objectives of an organization such as profiling, the product outline, the quantity of production, required raw material, and the financial health of the organization.

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This report has a complete understanding of market value and quantity, technological progress, macro-economic and governmental policy based on past and present data along with the current and upcoming trends in the market.

This report provides valuable information for companies like manufacturers, suppliers, distributors, traders, customers, investors and individuals who have interests in this industry.

Market Synopsis of Smart parking Market

The growth in the Automobile Industry directly translates into increasing demand in the smart parking market. Smart parking systems enables individuals to save time and reduce traffic problems as well as improves the way people commute. Increasing number of automobile and lack of efficient parking management systems are some of the factors driving the demand for smart parking across the globe. These systems help in making the cities greener, cleaner, and technologically advanced by offering several opportunities for the reuse of commercial and municipal parking areas and garages. Moreover, cellphone-enabled automated solutions and low-cost sensors boosting the market for smart parking.

However, the lack of awareness about the smart parking advantages especially in under-developed regions is projected to limit the growth opportunities. The lack of funding initiatives is further projected to hinder the industry growth for smart parking.

Key Players

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 Global Market – Overview
The world is facing increasing urbanization while technology has been incorporated by cities for many years. However, the pace at which this adoption takes place is increasing rapidly as disruptive digital technologies have the potential to solve major metropolitan challenges such as safe parking. Smart cities hold the promise to potentially make urban areas more efficient and more secure. Smart parking is the most adopted and fastest growing solution across the Airports, universities, shopping centers and city garages. The ability to connect, analyze and automate data gathered from devices, powered by and described as the Internet of Things, is what makes smart parking possible. It has the power to employ big number of small, cheap, and energy efficient sensors which collaboratively collect and process wide range of parameters such as temperature, sound, vibration, pressure, water quality, pollutants and many more in different industries.

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.

The report for Global Smart parking Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.

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Table of Contents  

1    Executive Summary

2    Research Methodology

3    Market Dynamics

4    Market, By Parking Site

5    Market, By Solutions

6    Market, By Application

7     Regional Market Analysis

8    Competition Analysis

Continued…….

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