Smart Parking Market : Industry Analysis, Size, Share, Growth, Trends and Forecast

Kenneth Research has published a detailed report on Smart Parking Market which has been categorized by market size, growth indicators and encompasses detailed market analysis on macro trends and region-wise growth in North America, Latin America, Europe, Asia-Pacific and Middle East & Africa region. The report also includes the challenges that are affecting the growth of the industry and offers strategic evaluation that is required to boost the growth of the market over the period of 2019-2026.

The report covers the forecast and analysis of the Smart Parking Market on a global and regional level. The study provides historical data from 2015 to 2019 along with a forecast from 2019-2026 based on revenue (USD Million). In 2018, the worldwide GDP stood at USD 84,740.3 Billion as compared to the GDP of USD 80,144.5 Billion in 2017, marked a growth of 5.73% in 2018 over previous year according to the data quoted by International Monetary Fund. This is likely to impel the growth of Smart Parking Market over the period 2019-2026.

“The Final Report will cover the impact analysis of COVID-19 on this industry.”

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Smart parking is an intelligent parking system that assists driver for safe parking. Available space in parking slot is indicted by sign or symbol with the help of embedded software and sensors. The vacant space is notified to the driver correctly due to the proper management of vehicle.

Staying on top of trends is essential for decision makers to leverage this emerging opportunity. The report addresses this very need and provides the latest scoop on all major market segments. Guided Park Assist, one of the segments analyzed and sized in this study, displays the potential to grow at over 17%. The shifting dynamics supporting this growth makes it critical for businesses in this space to keep abreast of the changing pulse of the market.

Increasing adoption of integrated automated solutions coupled with the advancements in wireless technologies, and proliferation of digital payment technologies in the market are anticipated to contribute growth over the forecast period. Technologies utilized for the deployment of efficient systems include sensing devices, Machine-to-Machine (M2M) communication, smart parking meters, data analytics, mobile applications for e-reservation of slots, and online payments This technology uses different types of sensors as a hardware component in the parking slot to detect presence or absence of the vehicles. Smart parking system provides real time data information regarding the availability of nearby parking space and allows driver to accommodate that slot without any interference of other vehicles.

Some of the key topics covered in the report include:
*Hardware Outlook
*Pucks (wireless sensors)
*Cameras & LPRs
*Smart Meters
*Signage
*Parking Gates

Software Outlook
*Parking Guidance System
*Analytics Solutions
*Service Outlook
*Consulting Services
*Engineering Services
*Mobile App Parking Services

Type Outlook
*On-Street
*Off-Street
  o Garage Parking
  o Lot Parking

By Regional Ananlysis
North America
*U.S.
*Canada

Europe
*Germany
*UK
*France
*Italy
*Spain
*Belgium
*Russia
*Netherlands
*Rest of Europe

Asia-Pacific
*China
*India
*Japan
*Korea
*Singapore
*Malaysia
*Indonesia
*Thailand
*Philippines
*Rest of Asia-Pacific

Latin America
*Brazil
*Mexico
*Argentina
*Rest of LATAM

Middle East & Africa
*UAE
*Saudi Arabia
*South Africa
*Rest of MEA



Competitors identified in this market include
*Amano Corporation
*Aisin Seiki
*Continental Ag
*Cubic Corporation
*Delphi Automotive Plc
*Kapsch Trafficcom Ag
*Nedap Identification Systems
*Robert Bosch Gmbh
*Siemens Ag
*Tkh Group-Park Assist
*Valeo Sa
*Xerox Corporation

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Competitive Analysis:
The Smart Parking Market report examines competitive scenario by analyzing key players in the market. The company profiling of leading market players is included in this report with Porter’s five forces analysis and Value Chain analysis. Further, the strategies exercised by the companies for expansion of business through mergers, acquisitions, and other business development measures are discussed in the report. The financial parameters which are assessed include the sales, profits and the overall revenue generated by the key players of Market.

About Kenneth Research:

Kenneth Research is a reselling agency which focuses on multi-client market research database. The primary goal of the agency is to help industry professionals including various individuals and organizations gain an extra edge of competitiveness and help them identify the market trends and scope. The quality reports provided by the agency aims to make decision making easier for industry professionals and take firm decisions which helps them to form strategies after complete assessment of the market. Some of the industries under focus include healthcare & pharmaceuticals, ICT & Telecom, automotive and transportation, energy and power, chemicals, FMCG, food and beverages, aerospace and defense and others. Kenneth Research also focuses on strategic business consultancy services and offers a single platform for the best industry market research reports.

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Eli is a freelance writer and possess double graduation degree in physics and chemistry. She is an intense writer covering everything for Science and Tech to Business, Entertainment, Sports and Lifestyle.

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