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Apr 27, 2023

Smart Parking Systems Global Market Report 2023: Increasing Demand for IoT

Global Smart Parking Systems Market Dublin, May 16, 2023 (GLOBE NEWSWIRE) -- The

Global Smart Parking Systems Market

Dublin, May 16, 2023 (GLOBE NEWSWIRE) -- The "Smart Parking Systems Market, By Parking Site, By Components, By Application, By Region - Size, Share, Outlook, and Opportunity Analysis, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.

This report provides an in-depth analysis of the global smart parking systems market, and provides market size (US$ Million) and compound annual growth rate (CAGR%) for the forecast period (2023-2030), considering 2022 as the base year

The primary growth drivers for the market are the rising number of vehicles on the road and the resulting rise in traffic jams. Due to the various degrees of lockdowns enacted globally, the COVID-19 pandemic outbreak has had a negative effect on the market. The demand for smart parking systems market is anticipated to increase as the lockdowns are gradually removed, and sales of personal vehicles may also increase as a result of growing worries about safety in public transportation. Market Dynamics:Increasing demand for the internet of things (IoT) based technology is expected to drive market growth during the forecast period. IoT is a system of interrelated computer devices that are connected to the internet in order to perform various tasks without any human interference.

Globally, the time spent on searching for parking is a major issue which is solved by the University of Kansas by developing a project on smart parking solutions using IoT technology.

Moreover, an IoT-based smart parking system helps to manage parking spaces. For instance, in parking garages, the driver can identify the number of parking slots in the garage without entering the garage. This is done by receiving constant data information updates from sensors and providing this information to the driver.Growing focus on improving customer service can present lucrative growth opportunities. Key companies in the market are focused on improving customer service. Better customer service leads to a longer operational cycle of smart parking systems market at lower costs.

Moreover, during recent years, the number of electric vehicles has been increasing which is also aiding the demand for electric vehicle charging stations. Further, some companies are focusing on installing solar electric vehicle charging stations at parking spaces.Key features of the study:

It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market

This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players

It profiles key players in the global smart parking system based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies

Key companies covered as a part of this study include Streetline, Inc., Worldsensing, Smart Parking Limited, Swarco AG, Amano McGann, Skidata AG, Nedap N.V., ParkMe, Inc., Cisco System, Inc., Parkmobile LLC, and Urbiotica.

Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics

The global smart parking systems market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts

Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global smart parking system market.

Detailed Segmentation: Global Smart Parking Systems Market, By Parking Site

On-street

Off-street

Global Smart Parking Systems Market, By Component

Hardware

Software

Services

System Integration and Installation

Parking Management

Maintenance

Global Smart Parking Systems Market, By Application

Airports

Government & municipalities

Corporate & commercial Institutions

Global smart parking systems market, By Region

North America

Europe

Asia Pacific

Latin America

Middle East and Africa

Company Profiles

Streetline, Inc.

Worldsensing

Smart Parking Limited

Swarco AG

Amano McGann

Skidata AG

Nedap N.V.

ParkMe, Inc.

Cisco System, Inc.

Parkmobile LLC

Urbiotic

Key Attributes:

Report Attribute

Details

No. of Pages

130

Forecast Period

2022 - 2030

Estimated Market Value (USD) in 2022

$6524.3 Million

Forecasted Market Value (USD) by 2030

$29122.4 Million

Compound Annual Growth Rate

20.5%

Regions Covered

Global

Key Topics Covered: 1. Research Objectives and Assumptions

2. Market Purview

3. Market Dynamics, Regulations, and Trends Analysis

4. Global Smart Parking Systems Market - Impact of Coronavirus (COVID-19) Pandemic

5. Global Smart Parking Systems Market, By Parking Site, 2017-2030, (US$ Mn)

6. Global Smart Parking Systems Market, By Component, 2017-2030, (US$ Mn)

7. Global Smart Parking Systems Market, By Application, 2017-2030, (US$ Mn)

8. Global Smart Parking Systems Market, By Region, 2017-2030, (US$ Mn)

9. Competitive Landscape

10. Section

A selection of companies mentioned in this report includes

Streetline, Inc.

Worldsensing

Smart Parking Limited

Swarco AG

Amano McGann

Skidata AG

Nedap N.V.

ParkMe, Inc.

Cisco System, Inc.

Parkmobile LLC

Urbiotica

For more information about this report visit https://www.researchandmarkets.com/r/16xbrq

About ResearchAndMarkets.comResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

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Global Smart Parking Systems Market