Smart Parking Systems Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2016–2024

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Report Code: ZMR-2624 | Report Format : | Status : Upcoming |

Abstract

Global Smart Parking Systems Market: Overview

Getting a car space is a boring task, specifically in crowded regions, such as shopping malls, airports, or residential complexes, due to the increased densities of the vehicle thus elevating congestion. These reasons allow the requirement for the growth of innovative and smart solutions. The global smart parking systems market is mainly boosted by factors such as increasing concern over the restricted availability of parking space, increasing traffic congestion in metros, and stringent emission rules. Favorable policies of the government are also motivating the global smart parking systems market growth.

Global Smart Parking Systems Market: Growth Factors

The development of the global smart parking systems market is boosted by factors such as rising user’s preference for driver assistance functions in passenger cars, rising automation and innovation in vehicles, environmental concerns, increasing concern over accidents and parking damages posed by human faults while parking, and stringent emission rules. So as to lower the accidents caused at the time of parking and while taking off out a parking area as well as due to pollution and traffic congestion, governments are marketing smart and safe vehicles thereby boosting the global smart parking systems market. This, in turn, supports the development of the smart parking assist tools used in passenger vehicles.

Global Smart Parking Systems Market: Segmentation

Based on the system type, the global smart parking systems market is classified into smart parking and guided park assist. On the basis of sensor technology, the global smart parking systems market is divided into radar sensor, ultrasonic sensor, an image sensor, and others. Based on the components, the global smart parking systems market is classified into steering angle sensors, parking sensors, ECUs, display units, and others. On the basis of vertical, the global smart parking systems market is divided into commercial and government. Based on the solutions, the global smart parking systems market is classified into valet parking management, security & surveillance, license plate recognition, parking reservation management, and others.

Global Smart Parking Systems Market: Regional Analysis

Europe is expected to rule the global smart parking systems market due to the elevated utilization of ultrasonic sensors and cameras in passenger vehicles. Cameras enhance the visibility of the adjacent area of the vehicle and ultrasonic sensors warn the driver of hurdles surrounding the car. In addition to this, the global smart parking systems market is also boosted by an elevated requirement for driver safety and assistance solutions functions in passenger cars. The Asia Pacific has anticipated show growth in the global smart parking systems market in the forecast period. Parking in crowded parking regions is quickly turning out to be the main concern for drivers in this area. Individual parking lots have turned out to be smaller, so as to put up a number of cars, in a restricted parking area. This has led to elevated parking associated stress in drivers thus boosting the global smart parking systems market.

Global Smart Parking Systems Market: Competitive Players

Some of the major companies ruling the global smart parking systems market are Continental AG, Robert Bosch GmbH, Valeo S.A., Aisin Seiki, Daimler AG, BMW Group, Siemens AG, Volkswagen AG, Cubic Corporation, Xerox Corporation, and among others.

Global Smart Parking Systems Market: Regional Segment Analysis

  • North America
    • The U.S.
  • Europe
    • The UK
    • France
    • Germany
  • The Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • The Middle East and Africa

What Reports Provides

  • Full in-depth analysis of the parent market
  • Important changes in market dynamics
  • Segmentation details of the market
  • Former, on-going, and projected market analysis in terms of volume and value
  • Assessment of niche industry developments
  • Market share analysis
  • Key strategies of major players
  • Emerging segments and regional markets
  • Testimonials to companies in order to fortify their foothold in the market.

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