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Smart Parking Systems Market Expected to Generate a Value of $9.1 Billion by 2024 from $3.4 Billion in 2018 - ResearchAndMarkets.com

February 5, 2020 GMT

DUBLIN--(BUSINESS WIRE)--Feb 5, 2020--

The “Smart Parking Systems Market Research Report: By Parking Site, Technology, End User - Industry Opportunity Analysis and Growth Forecast to 2024” report has been added to ResearchAndMarkets.com’s offering.

The smart parking systems market generated revenue of $3.4 billion in 2018, and it is projected to value $9.1 billion in 2024.

Off-street parking was the larger category in 2018, based on parking site, as it makes the parking and payment process easy, with improved payment and ticketing options. Further, such solutions allow for the parking of vehicles for shorter as well as longer durations. With the development of smart cities, governments are promoting such systems, to make parking in cities more organized.

A major driver for the smart parking systems market is the rapid smart city development. Extensive research and development (R&D) activities are being undertaken to integrate managed operations with connected solutions. Due to this, smart parking systems have witnessed widespread adoption, aimed at making real-time information about the parking slots available to drivers, before they even begin the journey. Additionally, government initiatives aimed at making cities smart are also supporting the usage of smart parking systems.

Lucrative opportunities for smart parking systems market are being offered by the rapid automation in the sector. Robot valets and automated parking technologies are already being tested in several cities across the world, for instance, in Boulder, Colorado, where a completely automated parking garage was recently installed by Park Plus Inc. The systems can park four times the vehicles accommodated by a conventional garage of almost equal space. Additionally, using it, a car can be retrieved within five minutes of placing a request.

In 2018, North America held the largest revenue share in the smart parking systems market. The continent is projected to see an even higher adoption of such systems, during the forecast period, with governments working to reduce traffic congestion, which has become a grave problem as a result of the increasing number of vehicles on the roads. During the forecast period, Asia-Pacific (APAC) would witness industry growth at the highest CAGR, on account of the increasing adoption of such solutions in China.

Key Topics Covered:

Chapter 1. Research Background

1.1 Research Objectives

1.2 Market Definition

1.3 Research Scope

1.3.1 Market Segmentation by Parking Site

1.3.2 Market Segmentation by Technology

1.3.3 Market Segmentation by End User

1.3.4 Market Segmentation by Region

1.3.5 Analysis Period

1.3.6 Market Data Reporting Unit

1.3.6.1 Value

1.4 Key Stakeholders

Chapter 2. Research Methodology

2.1 Secondary Research

2.2 Primary Research

2.3 Market Size Estimation

2.4 Data Triangulation

2.5 Assumptions for the Study

Chapter 3. Executive Summary

Chapter 4. Introduction

4.1 Definition of Market Segments

4.2 Market Dynamics

4.2.1 Trends

4.2.2 Drivers

4.2.3 Restraints

4.2.4 Opportunities

4.3 Porter’s Five Forces Analysis

Chapter 5. Global Market Size and Forecast

5.1 By Parking Site

5.2 By Technology

5.3 By End User

5.4 By Region

Chapter 6. North America Market Size and Forecast

6.1 By Parking Site

6.2 By Technology

6.3 By End User

6.4 By Country

Chapter 7. Europe Market Size and Forecast

7.1 By Parking Site

7.2 By Technology

7.3 By End User

7.4 By Country

Chapter 8. APAC Market Size and Forecast

8.1 By Parking Site

8.2 By Technology

8.3 By End User

8.4 By Country

Chapter 9. RoW Market Size and Forecast

9.1 By Parking Site

9.2 By Technology

9.3 By End User

9.4 By Country

Chapter 10. Competitive Landscape

10.1 Market Players and Their Offerings

10.2 Competitive Benchmarking of Key Players

10.3 Strategic Developments of Key Players

10.3.1 Mergers and Acquisitions

10.3.2 Partnerships

10.3.3 Client Wins

10.3.4 Other Developments

Chapter 11. Company Profiles

11.1 Robert Bosch GmbH

11.2 Amano Corporation

11.3 Smart Parking Ltd.

11.4 Urbiotica S.L.

11.5 Kapsch TrafficCom AG

11.6 ParkMobile LLC

11.7 IPS Group Inc.

11.8 Nedap N.V.

11.9 Cisco Systems Inc.

11.10 WORLDSENSING S.L.

11.11 Siemens AG

11.12 Valeo SA

11.13 Continental AG

11.14 Delphi Technologies PLC

11.15 Xerox Corporation

For more information about this report visit https://www.researchandmarkets.com/r/pz6f6r

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KEYWORD: NORTH AMERICA

INDUSTRY KEYWORD: INTERNET GENERAL AUTOMOTIVE TECHNOLOGY AUTOMOTIVE SOFTWARE

SOURCE: Research and Markets

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PUB: 02/05/2020 09:33 AM/DISC: 02/05/2020 09:33 AM

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