Worldwide Demand For Smart Parking Solution Is Project To Progress At A Sinewy CAGR of Around 21% By 2032

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Key Takeaways from the Market Study

• Global smart parking solutions market to be valued at US$ 4.4 Bn by 2022-end
• Germany to emerge as the fastest growing market, clocking a CAGR of 16%
• U.S to register a staggering 15% CAGR, amid rising traffic congestion across major cities
• Smart parking solutions uptake in China likely to increase at a CAGR of 12%
• Smart valet parking solutions to experience 9.9% Y-o-Y growth in 2022 over 2021
• Commercial smart parking solutions to account for nearly 40% revenue share

Growing traffic congestion problems is prompting automotive manufacturers and vehicle users alike to opt for internet and smart-enabled parking solutions, enabling an improvement in city decongestion, remarks a Fact.MR analyst.

Competitive landscape

1. APT Skidata, one of the UK’s leading parking solutions companies, announced the launch of a new mobile-based digital solution in December 2020 to deliver greater operational efficiencies and enhanced financial returns to owners and operators of an individual or multiple car park.
2. Amco S.A. was awarded a contract by the Memphis Area Transit Authority (MATA) in the United States in February 2020.
3. In January 2019, China opened its first robotic diagonal smart parking garage in Nanjing, East China. It is a smart parking system that optimizes space utility, fuel efficiency, and cost-effectiveness in order to make cities more livable.

Prominent Key Players Of The Smart Parking Solutions Market Survey Report:

• Aisin Seiki Co.Ltd
• Amano McGann
• Amco S.A.
• Cisco Solutions
• Delphi Automotive PLC
• Kapsch
• Nedap N.V
• Parkmobile
• LLC
• Skidata AG

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Key Segments Covered in the Smart Parking Solutions Report

• By System Components & Services

  • Smart Parking Software
    • On-Premise
    • Cloud Based
  • Smart Parking System Devices
    • Entry/Exit Terminals
    • Card Readers
    • Validation Solution
    • Pay-on-Foot Solution
    • LPR System
    • Others
  • Smart Parking Professional Services
    • Consulting
    • Deployment and Customization
    • Maintenance and Support

• By Solutions

  • Smart Parking Access Control Solutions
  • Smart Parking Fee & Revenue Collection Solutions
  • Smart Parking Reservation Management Solutions
  • Smart Valet Parking Management Solutions
  • Smart Parking Guidance and Slot Management Solutions
  • Other Smart Parking Solutions (Parking Enforcement Management)

• By End Use

  • Smart Parking Solutions for Government and Municipalities
  • Smart Parking Solutions for Airports
  • Smart Parking Solutions for Corporate & Commercial Parks
  • Smart Parking Solutions for Commercial Institutions
  • Smart Parking Solutions for Healthcare
  • Smart Parking Solutions for Other End Uses (Tourist Destinations and Hospitality Sector)

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Questionnaire answered in the Smart Parking Solutions Market report include:

• How the market for Smart Parking Solutions has grown?
• What is the present and future outlook of the global Smart Parking Solutions on the basis of region?
• What are the challenges and opportunities for the Smart Parking Solutions?
• Why the consumption of Smart Parking Solutions highest in region?
• In which year segment is expected to overtake segment?

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