Market Overview:
The global smart parking solutions market is expected to grow at a CAGR of 16.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for smart parking solutions from commercial, residential, and government users across the globe. Additionally, factors such as rising urbanization and population density are also contributing to the growth of this market. The global smart parking solutions market is segmented on the basis of type, application, and region. On the basis of type, it is divided into system devices, parking software, and professional services. The system devices segment dominates this market owing to its wide adoption by end-users for managing their parking spaces effectively. By application, it is classified into commercial use, residential use government use,, and others (including educational institutions). Commercial users account for a major share in terms of revenue in this market due to growing demand for efficient management systems from various businesses such as retail stores,, restaurants,, hospitals,, etcetera In terms of region,.
Product Definition:
Smart parking solutions are systems that use technology to help drivers find parking spaces and manage the flow of traffic. They can include features like real-time information on available spots, guidance systems to direct drivers to open spots, and payment options that allow drivers to pay for parking without having to leave their car.
Smart Parking Solutions are important because they make it easier for drivers to find parking, which can reduce congestion and pollution. They can also help cities manage their street space more efficiently.
System Devices:
System devices is a generic term that covers any electronic device or equipment used to implement a system. It includes input/output devices, storage media, communication devices and display terminals. The growth factor in the market can be attributed to factors such as growing demand for smart parking solutions from end-users such as transport agencies and car park operators coupled with increasing penetration of Internet of Things (IoT) technology across the globe.
Parking Software:
The global parking software and it's usage in smart parking solutions market size was valued at USD 1.6 billion in 2015. The increasing need for effective management of on-street as well as off-street parking spaces is expected to drive the demand over the forecast period. In addition, growing adoption of mobile applications that help in providing real-time information related to availability of a particular spot is further anticipated to influence industry growth positively.
Application Insights:
The commercial use segment dominated the global smart parking solutions market in 2017, accounting for over 60.0% share of the overall revenue. The growth can be attributed to increasing investments by public transit agencies and municipal governments in developing commercial complexes and shopping malls with smart parking facilities. For instance, as per a study conducted by SPINS, Inc., around 70% of shopping malls across the globe have implemented some form of automated system for managing their parking facilities while approximately 50% of retail stores have incorporated these systems into their buildings.
Residential use is expected to witness significant growth over the forecast period owing to rising urbanization coupled with an increase in disposable income among consumers globally.
Regional Analysis:
North America dominated the global market in 2017. The region is expected to maintain its position during the forecast period. This can be attributed to increasing government initiatives, technological advancements, and high adoption rate of smart solutions among users in this region. Moreover, presence of major players such as Global Information Systems (GIS), Inc.; ParkWhiz; and SpotHero Inc., has contributed significantly to regional growth.
Asia Pacific is anticipated to witness significant growth over the forecast period owing to increasing number of smart cities projects by various governments across countries such as China and India which would lead towards increased demand for parking management systems across these regions. In addition, growing adoption of advanced technologies coupled with rapid urbanization in developing economies including China and India are some other factors likely contribute towards regional growth over the next eight years (2030).
Growth Factors:
- Increasing demand for smart parking solutions from the commercial sector as it helps in optimizing the space utilization and improving the efficiency of parking operations.
- The increasing adoption of smart city initiatives by various governments that are aimed at enhancing the quality of life by deploying advanced technologies such as smart parking solutions.
- Growing demand for connected cars and autonomous vehicles, which is expected to drive the market for smart parking solutions in near future.
- Proliferation of smartphones and emergence of location-based services (LBS) that are helping drivers to find available parking spaces quickly and easily, thereby boosting the market growth for Smart Parking Solutions .
Scope Of The Report
Report Attributes
Report Details
Report Title
Smart Parking Solutions Market Research Report
By Type
System Devices, Parking Software, Professional Services
By Application
Commercial Use, Residential Use, Government Use, Others
By Companies
Amano Corporation, Cubic Corporation, Kapsch TrafficCom AG, Swarco AG, 3M, Thales, Siemens, Nortech Control Systems, Scheidt & Bachmann, DESIGNA Verkehrsleittechnik GmbH, HUB Parking Technology, WPS Parking System, Fujica, Xerox Corporation
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
180
Number of Tables & Figures
126
Customization Available
Yes, the report can be customized as per your need.
Global Smart Parking Solutions Market Report Segments:
The global Smart Parking Solutions market is segmented on the basis of:
Types
System Devices, Parking Software, Professional Services
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Commercial Use, Residential Use, Government Use, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Amano Corporation
- Cubic Corporation
- Kapsch TrafficCom AG
- Swarco AG
- 3M
- Thales
- Siemens
- Nortech Control Systems
- Scheidt & Bachmann
- DESIGNA Verkehrsleittechnik GmbH
- HUB Parking Technology
- WPS Parking System
- Fujica
- Xerox Corporation
Highlights of The Smart Parking Solutions Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- System Devices
- Parking Software
- Professional Services
- By Application:
- Commercial Use
- Residential Use
- Government Use
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Smart Parking Solutions Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Smart Parking Solutions is a company that provides parking management solutions for businesses and municipalities. The company's products include automated parking systems, real-time traffic information, and mobile apps.
Some of the major players in the smart parking solutions market are Amano Corporation, Cubic Corporation, Kapsch TrafficCom AG, Swarco AG, 3M, Thales, Siemens, Nortech Control Systems, Scheidt & Bachmann, DESIGNA Verkehrsleittechnik GmbH, HUB Parking Technology, WPS Parking System, Fujica, Xerox Corporation.
The smart parking solutions market is expected to register a CAGR of 16.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Smart Parking Solutions Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Smart Parking Solutions Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Smart Parking Solutions Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Smart Parking Solutions Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Smart Parking Solutions Market Size & Forecast, 2018-2028
4.5.1 Smart Parking Solutions Market Size and Y-o-Y Growth
4.5.2 Smart Parking Solutions Market Absolute $ Opportunity
Chapter 5 Global Smart Parking Solutions Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Smart Parking Solutions Market Size Forecast by Type
5.2.1 System Devices
5.2.2 Parking Software
5.2.3 Professional Services
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Smart Parking Solutions Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Smart Parking Solutions Market Size Forecast by Applications
6.2.1 Commercial Use
6.2.2 Residential Use
6.2.3 Government Use
6.2.4 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Smart Parking Solutions Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Smart Parking Solutions Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Smart Parking Solutions Analysis and Forecast
9.1 Introduction
9.2 North America Smart Parking Solutions Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Smart Parking Solutions Market Size Forecast by Type
9.6.1 System Devices
9.6.2 Parking Software
9.6.3 Professional Services
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Smart Parking Solutions Market Size Forecast by Applications
9.10.1 Commercial Use
9.10.2 Residential Use
9.10.3 Government Use
9.10.4 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Smart Parking Solutions Analysis and Forecast
10.1 Introduction
10.2 Europe Smart Parking Solutions Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Smart Parking Solutions Market Size Forecast by Type
10.6.1 System Devices
10.6.2 Parking Software
10.6.3 Professional Services
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Smart Parking Solutions Market Size Forecast by Applications
10.10.1 Commercial Use
10.10.2 Residential Use
10.10.3 Government Use
10.10.4 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Smart Parking Solutions Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Smart Parking Solutions Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Smart Parking Solutions Market Size Forecast by Type
11.6.1 System Devices
11.6.2 Parking Software
11.6.3 Professional Services
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Smart Parking Solutions Market Size Forecast by Applications
11.10.1 Commercial Use
11.10.2 Residential Use
11.10.3 Government Use
11.10.4 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Smart Parking Solutions Analysis and Forecast
12.1 Introduction
12.2 Latin America Smart Parking Solutions Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Smart Parking Solutions Market Size Forecast by Type
12.6.1 System Devices
12.6.2 Parking Software
12.6.3 Professional Services
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Smart Parking Solutions Market Size Forecast by Applications
12.10.1 Commercial Use
12.10.2 Residential Use
12.10.3 Government Use
12.10.4 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Smart Parking Solutions Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Smart Parking Solutions Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Smart Parking Solutions Market Size Forecast by Type
13.6.1 System Devices
13.6.2 Parking Software
13.6.3 Professional Services
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Smart Parking Solutions Market Size Forecast by Applications
13.10.1 Commercial Use
13.10.2 Residential Use
13.10.3 Government Use
13.10.4 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Smart Parking Solutions Market: Competitive Dashboard
14.2 Global Smart Parking Solutions Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Amano Corporation
14.3.2 Cubic Corporation
14.3.3 Kapsch TrafficCom AG
14.3.4 Swarco AG
14.3.5 3M
14.3.6 Thales
14.3.7 Siemens
14.3.8 Nortech Control Systems
14.3.9 Scheidt & Bachmann
14.3.10 DESIGNA Verkehrsleittechnik GmbH
14.3.11 HUB Parking Technology
14.3.12 WPS Parking System
14.3.13 Fujica
14.3.14 Xerox Corporation
