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According to the latest report of the IMARC group, entitled “Smart Parking Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” offers a comprehensive analysis of the industry, which includes information on the global market smart parking market statistics. The report also includes competitor and regional analysis, as well as contemporary advancements in the global market.

The global smart parking market has reached a value of US$3.97 billion in 2021. Looking ahead, IMARC Group expects the market to reach US$8.52 billion by 2027, exhibiting at a 13.4% CAGR during the period 2022-2027. Smart parking refers to a system that optimizes parking spaces through automated access control systems, parking reservation barriers, ticketing systems, parking guidance systems, etc. It uses mechanical devices to transport cars from one parking spot to another. Smart parking helps eliminate wasted space in a multi-story or single-story garage. It uses video cameras, automatic license plate recognition readers, pavement sensors, vehicle counting equipment, etc., to transmit data to the control center and determine the occupancy of a parking lot. An intelligent parking system helps smooth traffic flow in congested areas and provides systematic parking operation. In addition to that, it also helps guide users to available parking spots by navigating through smartphone apps.

We regularly monitor the direct effect of COVID-19[feminine] in the market, as well as the indirect influence of associated industries. These observations will be incorporated into the report.

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Global Smart Parking Market Trends:

Increasing levels of traffic congestion are mainly driving the smart parking market across the globe. Apart from this, shifting consumer preferences towards comfortable and luxurious cars, owing to disposable income inflation and increasing levels of urbanization, are also propelling the market growth. Additionally, the integration of smart parking systems with Internet of Things (IoT) based technologies acts as another significant growth driver. In addition to this, increasing investment in building driverless or self-driving cars and launching many favorable initiatives by government bodies aimed at building smart cities are also positively influencing the global market. Additionally, the expansion of the international tourism industry is expected to catalyze the smart parking market in the coming years.

Explore the full report with table of contents and list of figures:

Key Market Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the major players operating in the market.

Some of these key players include:

  • Valeo SA
  • Continental AG
  • Robert Bosch GmbH
  • Kapsch TrafficCom AG
  • cubic society
  • TKH Group-Park Assist.
  • streetline inc.
  • Cisco Systems Inc.
  • ParkMe Inc.
  • Urbiotic
  • Skidata AG
  • Amano McGann Inc.
  • Swarco AG
  • Smart Parking Ltd
  • Nedap AG
  • Delphi automotive automaton
  • Aisin Seiki Co.Ltd
  • Siemens AG
  • Xerox Corporation

Breakdown by system:

  • Guided parking assistance system
  • Intelligent parking assistance system

Breakdown by technology:

  • Ultrasonic sensors
  • Radar sensors
  • Image sensors
  • IoT
  • Others

Breakdown by component:

  • Material
  • Software
  • Services

Breakdown by vertical type:

  • Government and municipalities
  • Commercial Institutions
  • Corporate Institutions
  • Means of transport
  • Others

Breakdown by solution:

  • Security and surveillance
  • Valet and parking reservation
  • license plate recognition

Breakdown by parking site:

  • Off-street parking
  • Street parking

Breakdown by region:

  • North America (USA, Canada)
  • Asia-Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Others)

Main highlights of the report:

  • Market Performance (2016-2021)
  • Market Outlook (2022-2027)
  • Impact of COVID-19 on the market
  • Porter’s Five Forces Analysis
  • Historical, current and future market trends
  • Market drivers and success factors
  • SWOT analysis
  • Market structure
  • Value chain analysis
  • Complete mapping of the competitive landscape

Table of contents of the report:

  • Preface
  • Scope and methodology
  • Summary
  • Introduction
  • Global market
  • SWOT analysis
  • Value chain analysis
  • Price analysis
  • Competitive landscape

Note: If you need specific information that is not currently covered by the report, we can provide it to you as part of the customization.

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About Us

The IMARC Group is a leading market research firm providing management strategies and market research worldwide. We partner with clients across all industries and geographies to identify their most important opportunities, address their most critical challenges and transform their businesses.

IMARC’s information products include major business, scientific, economic and technological developments for business leaders in pharmaceutical, industrial and high-tech organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverages, travel and tourism, nanotechnology and new processing methods are at the top of the list. company expertise.

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