Infinium Global Research has added
a new report on Smart
Parking System Market. The report presents analysis of global as well
as regional markets of smart parking system market over the period of 2016 to
2024. Car
parking problem is a major contributor and has been, still a major problem
owing confined parking spaces in urban cities and with increasing vehicle
number of vehicles. Therefore, smart parking systems are now been implemented
to find information about available parking spaces in nearest area and process
is real-time to place vehicles at available positions.There is no “best
technology” in the Smart Parking sector the most suitable technology depends on
project-specific conditions and the challenges at hand. In cities, various
technologies can coexist depending on local issues.
Smart Parking involves the use of low cost sensors, real-time
data, and applications that allow users to monitor available and unavailable
parking spots. The goal is to automate and decrease the time spent on manually
searching for the optimal parking floor, spot and even lot. Some solutions will
encompass a complete suite of services such as online payments, parking time
notifications and even car searching functionalities for very large lots.
Automated payment systems allows people to reserve parking in advance. When
deployed as a system, smart parking thus reduces car emissions in urban centers
by reducing the need for people to unnecessarily circle city blocks searching
for parking. It also permits cities to carefully manage their parking supply. These
benefits are driving the growth of the smart parking system market over the
years to come.
Moreover, increasing demand for IoT based technology is the factor
driving the growth of the smart parking system. Problems such as, traffic
congestion, limited car parking facilities and road safety are being addressed
with the help of IoT. In addition, demand for upcoming smart cites with the
growing number of hospitals, shopping complexes and corporate hubs are fuelling
the demand for smart parking system market. However, lack of standardization
and high setup cost that requires huge investments are likely to hamper the
growth of the smart parking system market during the forecast period. On the
other hand, system integration due to wide variety of hardware and software
platforms involved, possess a great concern to the system scalability.
Furthermore, advancements in autonomous cars and smart park
technology are creating several opportunities for the key players in the smart
parking system market over the upcoming years. A wide variety of other
technology innovations are also enabling more adaptable systems including
cameras, wireless communications, data analytics, induction loops, smart
parking meters, and advanced algorithms. This in turn has opened several doors
of opportunities for the smart parking system market over the years to come.
Among the Geographies, North America dominated the smart parking
system market in terms of revenue. The growth in the North American regions is
due to the increasing need for traffic management. In addition, North America
is also considered the most progressive region in terms of smart sensors and
advanced analytics. The presence of dense traffic in various cities of U.S.
such as Los Angeles, New York are also exhibiting a higher level of awareness
towards modern solutions for parking and traffic control, thus becoming an
optimized region for the large-scale adoption of smart parking systems.
Moreover, South America and Asia Pacific are projected to witness
fastest growing market due to increasing inclinations towards the development
of smart cities. Increasing automobile sales in Asia Pacific region is
anticipated to boost the growth of the smart parking system in this region.
Furthermore, Europe is witnesses to have moderate growth owing to the owing
adoption of smart mobile application such as smart payments in parking area. Moreover,
the growth matrix presented by Infinium Global Research identifies the key
investment markets in the near future, this will not only help the companies to
understand the competitive position in the global smart parking system market
but also make strategic decisions to capture the most lucrative markets in the
near future. The market size is presented in terms of value for the historic
year 2016 and estimated for forecast period of 2018-2024.
Get
15% discount for early purchase of global smart parking system market report by
clicking the following link, Use code IGRD15 to request the discount in the
given form
https://www.infiniumglobalresearch.com/reports/request-discount/1541
The recent report identified that
North America dominated the global smart parking system market over the last
couple of years, while emerging markets of Asia-Pacific and Latin America are
anticipated to contribute significantly to the growth in the smart parking
system market worldwide.
The report segments the global
smart parking system market on the basis of Sensor Technology, Solution
and End-user.
Global Smart Parking System Market
by Sensor Technology
·
Ultrasonic Sensor
·
Radar Sensor
·
Image Sensor
Global Smart Parking System Market
by Solution
·
Parking Reservation
Management
·
Security And Surveillance
·
License Plate Recognition
·
Security And Surveillance
Global Smart Parking System Market
by End-user
·
Commercial
·
Personal
·
Transport & Aviation
·
Government
·
Others
Companies Profiled in the Report
·
Aisin Seiki Co., Ltd
·
Delphi Automotive PLC
·
Valeo S.A.
·
Continental AG
·
Robert Bosch GmbH
·
Kapsch Trafficcom AG
·
Amano Corporation
·
Cubic Corporation
·
Xerox Corporation
·
Siemens AG
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