Market Overview:
The global smart parking technologies market is expected to grow at a CAGR of 10.5% during the forecast period from 2018 to 2030. The increasing demand for smart parking technologies from the government and commercial sectors is driving the growth of this market. The ultrasonic sensor segment is expected to be the fastest-growing segment during the forecast period, owing to its low cost and easy installation. North America is expected to be the largest market for smart parking technologies during the forecast period, followed by Europe and Asia Pacific.
Product Definition:
Smart Parking Technologies is a term used to describe a number of different technologies that can be used to help manage parking. These technologies can include parking sensors, smart meters, and apps that allow drivers to find open parking spaces. The goal of these technologies is to make it easier for drivers to find parking and park their cars in an efficient manner.
Ultrasonic Sensor:
Ultrasonic sensors are used in smart parking technologies for detecting vehicles and measuring their distance. These devices use high frequency sound waves to measure the distance between a vehicle and an object. The working principle of these sensors is based on the elasticity of materials, which transmit ultrasonic pulses and measure time it takes for those pulses to travel back.
Radar Sensor:
Radar sensors are used in smart parking technologies for detecting vehicles and determining their location. These sensors help in enhancing the efficiency of the parking systems by providing enhanced accuracy, reliability, and flexibility. The increasing demand for real-time traffic data is expected to have a positive impact on market growth over the forecast period.
Application Insights:
The commercial segment dominated the global smart parking technologies market, accounting for more than 60.0% share of the overall revenue in 2017. The growth can be attributed to a rise in demand for high-end facilities with enhanced security and convenience features at major shopping malls, airports, corporate offices and resorts across the globe.
Ultrasonic sensors are widely used in commercial applications as they provide better accuracy while measuring the dimensions of vehicles compared to other technologies such as radar or image sensors. These devices work well even if there is some distance between the sensor and vehicle because of their high scanning frequency range; this makes them ideal solutions for large open spaces where visibility is poor or limited due to low light conditions.
Regional Analysis:
North America dominated the global market in 2017. The region is expected to retain its dominance over the forecast period as well. This can be attributed to increasing government initiatives and investments in smart parking technologies, growing number of smart cities, and presence of major players such as General Motors Company; Google LLC; Cisco Systems, Inc.; Ford Motor Company; and Qualcomm Technologies Inc. In 2016, North America accounted for approximately 35% share of global revenue.
The Asia Pacific regional market is anticipated to witness significant growth over the forecast period owing to rising population along with rapid urbanization in countries such as China and India. Moreover, governments are encouraging companies based outside their country for investing within their nation by offering various incentives such as tax benefits or relaxed regulations on FDI (Foreign Direct Investment). These factors are expected to boost demand for smart parking solutions across this region during the forecast period from 2018 To 2030 (calendar year).
Growth Factors:
- Increasing demand for smart parking technologies from the commercial sector as it helps in optimizing the parking space and improving the traffic flow.
- The increasing adoption of smart parking technologies by municipal authorities as it helps in reducing traffic congestion and improving urban mobility.
- Growing demand for smart parking systems from end-users due to its advantages such as improved security, convenience, and reduced fuel consumption.
- Proliferation of connected cars and autonomous vehicles which are expected to drive the growth of Smart Parking Technologies market in near future.
Scope Of The Report
Report Attributes
Report Details
Report Title
Smart Parking Technologies Market Research Report
By Type
Ultrasonic Sensor, Radar Sensor, Image Sensor
By Application
Government, Commercial
By Companies
Amco Advanced Technologies, Nedap Identification Systems, Siemens, Worldsensing, Urbiotica, Objective, Bosch, Aisin Seiki
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
209
Number of Tables & Figures
147
Customization Available
Yes, the report can be customized as per your need.
Global Smart Parking Technologies Market Report Segments:
The global Smart Parking Technologies market is segmented on the basis of:
Types
Ultrasonic Sensor, Radar Sensor, Image Sensor
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
Government, Commercial
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:
- Amco Advanced Technologies
- Nedap Identification Systems
- Siemens
- Worldsensing
- Urbiotica
- Objective
- Bosch
- Aisin Seiki
Highlights of The Smart Parking Technologies 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:
- Ultrasonic Sensor
- Radar Sensor
- Image Sensor
- By Application:
- Government
- Commercial
- 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 Technologies 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.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
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 Technologies is a term used to describe a variety of technologies that help manage parking spaces. These technologies can include things like sensors that detect when a car has stopped in a space, cameras that track the movements of cars in parking lots, and software that manages the flow of traffic.
Some of the key players operating in the smart parking technologies market are Amco Advanced Technologies, Nedap Identification Systems, Siemens, Worldsensing, Urbiotica, Objective, Bosch, Aisin Seiki.
The smart parking technologies market is expected to grow at a compound annual growth rate of 10.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Smart Parking Technologies 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 Technologies Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Smart Parking Technologies 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 Technologies 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 Technologies Market Size & Forecast, 2018-2028
4.5.1 Smart Parking Technologies Market Size and Y-o-Y Growth
4.5.2 Smart Parking Technologies Market Absolute $ Opportunity
Chapter 5 Global Smart Parking Technologies 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 Technologies Market Size Forecast by Type
5.2.1 Ultrasonic Sensor
5.2.2 Radar Sensor
5.2.3 Image Sensor
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Smart Parking Technologies 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 Technologies Market Size Forecast by Applications
6.2.1 Government
6.2.2 Commercial
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Smart Parking Technologies 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 Technologies 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 Technologies Analysis and Forecast
9.1 Introduction
9.2 North America Smart Parking Technologies 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 Technologies Market Size Forecast by Type
9.6.1 Ultrasonic Sensor
9.6.2 Radar Sensor
9.6.3 Image Sensor
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 Technologies Market Size Forecast by Applications
9.10.1 Government
9.10.2 Commercial
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 Technologies Analysis and Forecast
10.1 Introduction
10.2 Europe Smart Parking Technologies 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 Technologies Market Size Forecast by Type
10.6.1 Ultrasonic Sensor
10.6.2 Radar Sensor
10.6.3 Image Sensor
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 Technologies Market Size Forecast by Applications
10.10.1 Government
10.10.2 Commercial
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 Technologies Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Smart Parking Technologies 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 Technologies Market Size Forecast by Type
11.6.1 Ultrasonic Sensor
11.6.2 Radar Sensor
11.6.3 Image Sensor
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 Technologies Market Size Forecast by Applications
11.10.1 Government
11.10.2 Commercial
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 Technologies Analysis and Forecast
12.1 Introduction
12.2 Latin America Smart Parking Technologies 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 Technologies Market Size Forecast by Type
12.6.1 Ultrasonic Sensor
12.6.2 Radar Sensor
12.6.3 Image Sensor
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 Technologies Market Size Forecast by Applications
12.10.1 Government
12.10.2 Commercial
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 Technologies Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Smart Parking Technologies 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 Technologies Market Size Forecast by Type
13.6.1 Ultrasonic Sensor
13.6.2 Radar Sensor
13.6.3 Image Sensor
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 Technologies Market Size Forecast by Applications
13.10.1 Government
13.10.2 Commercial
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 Technologies Market: Competitive Dashboard
14.2 Global Smart Parking Technologies Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Amco Advanced Technologies
14.3.2 Nedap Identification Systems
14.3.3 Siemens
14.3.4 Worldsensing
14.3.5 Urbiotica
14.3.6 Objective
14.3.7 Bosch
14.3.8 Aisin Seiki
