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Smart Parking Market Size is projected to reach USD 16.54 Billion by 2030, growing at a CAGR of 13.6%: Straits Research

The global smart parking market size was valued at 5.23 USD billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 13.6% from 2022 to 2030 and reach around 16.54 USD billion. The implementation of smart parking software has expanded globally due to the growing acceptance of data-driven operations.

New York, United States, Sept. 14, 2023 (GLOBE NEWSWIRE) — Smart Parking is a parking system that includes sensors, cameras, and counting sensors embedded in the ground. These devices are frequently implanted in or placed closed to parking spaces to detect whether they are empty or occupied. The smart parking mobile app or website receives the information and notifies users of the availability. Some companies provide additional information on parking costs and locations, allowing customers to research parking options.

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Lack of Parking Spaces and Demand for IoT-based Smart Parking Drives the Global Market

As the city’s population grows, parking becomes a more significant challenge for residents and businesses. IoT reduces the time a user spends looking for an available parking spot by automating the determination of the appropriate parking floor and position. As a result, the need for smart parking has grown worldwide.

The rate of urbanization has risen as the global population grows. As a result, there is a huge demand for parking spaces due to the increase in car owners. To reduce the ever-increasing burden of global traffic, automakers are implementing the internet of things (IoT) allowed and smart parking solutions. The implementation of smart parking software has expanded globally due to the growing acceptance of data-driven operations.

Growing Investments in Self-Driving Cars Creates Tremendous Market Opportunities

Many automobile firms, including Tesla, Waymo, and Ford, have trialed a parking assistance feature in an autonomous vehicle that displays available parking spaces. To address the congestion issue for smart parking, software companies give frequent upgrades. The smart parking business is expected to see profitable growth soon as technology and infrastructure advancements continue.

Segmental Analysis

Parking sites, technology, solution, and geography have segmented the worldwide intelligent parking market. The market has been divided into two types: on-street and off-street, with the off-street smart parking technology segment expected to develop the fastest.

Off-street parking is becoming increasingly popular in places like companies, shopping malls, universities, airports, and train stations.

Furthermore, as mobile IoT is based on current mobile networks, it offers significant coverage for both on-street and off-street parking sites. It’s designed to reach indoors and underground, making it suitable for many parking lots. As a result, the IoT segment has the most significant market share.

Report Scope

Report Metric Details
Market Size by 2030 USD 16.54 billion
Market Size in 2021 USD 5.23 billion
CAGR 13.6% (2022-2030)
Historical Data 2019-2020
Base Year 2021
Forecast Period 2022-2030
Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered By Parking Site, By Application, By Technology, By Solution
Geographies Covered North America, Europe, Asia-Pacific, LAME and Rest of the World
Key Companies Profiled/Vendors AMCO, Cisco Systems, Inc., CivicSmart, Inc., Continental AG, Huawei Technologies Co., IEM SA, IPS Group, Inc., Nedap, NEXPA, ParkMobile, LLC., Robert Bosch GmbH, Siemens, Smart Parking Systems – (A division of Intercomp S.p.A.), Streetline, Urbiotica, and others.
Key Market Opportunities Increased Investment in Self-Driving Vehicles
Key Market Drivers Increase in Parking Issues Across the Globe

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Regional Analysis

Europe has the highest share in the worldwide smart parking market, followed by North America. The demand for creative parking solutions is rising across Europe due to the increasing use of cameras and ultrasonic sensors in passenger vehicles. Rapid urbanization has necessitated infrastructure and transportation growth, raising the need for parking assistance and intelligent parking systems.

List of Top Smart Parking Market Suppliers

  • AMCO
  • Cisco Systems, Inc.
  • CivicSmart, Inc.
  • Continental AG
  • Huawei Technologies Co.
  • IEM SA
  • IPS Group, Inc.
  • Nedap
  • NEXPA
  • ParkMobile, LLC.
  • Robert Bosch GmbH
  • Siemens
  • Smart Parking Systems – (A division of Intercomp S.p.A.)
  • Streetline
  • Urbiotica

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Global Smart Parking Market: Segmentation

By Parking Site

By Technology

By Solution

  • Security and Surveillance
  • Smart Payment System
  • E-parking
  • License Plate Recognition

By Regions

  • Europe
  • North America
  • Asia-Pacific
  • Latin America
  • The Middle East and Africa.

TABLE OF CONTENT

  1. EXECUTIVE SUMMARY
  2. RESEARCH SCOPE & SEGMENTATION

    1. Research Objectives
    2. Market Definition
    3. Limitations & Assumptions
    4. Market Scope & Segmentation
    5. Currency & Pricing Considered
  3. MARKET OPPORTUNITY ASSESSMENT
    1. Emerging Regions / Countries
    2. Emerging Companies
    3. Emerging Applications / End Use
    4. Investment Landscape
    5. New Business Models / Revenue Streams
    6. TAM
  1. MARKET TRENDS
    1. Drivers
    2. Market Warning Factors
    3. Latest Macro Economic Indicators
    4. Geopolitical Impact
    5. Human Factors
    6. Technology Factors
  1. MARKET ASSESSMENT
    1. Porters Five Forces Analysis
    2. Value Chain Analysis
    3. Sales And Distribution Channel Analysis
    4. Case Study Analysis
    5. Patent Analysis
    6. M & A Agreements & Collabration Analysis
  1. ESG TRENDS
  2. GLOBAL SMART PARKING MARKET SIZE ANALYSIS
    1. Global Smart Parking Market Introduction
    2. By Parking Site
      1. Introduction
        1. Parking Site By Value
      1. On-Street
        1. By Value
      1. Off-Street
        1. By Value
    1. By Application
      1. Introduction
        1. Application By Value
      1. Government
        1. By Value
      1. Commercial
        1. By Value
    1. By Technology
      1. Introduction
        1. Technology By Value
      1. IoT
        1. By Value
      1. Ultrasonic
        1. By Value
      1. RFID
        1. By Value
    1. By Solution
      1. Introduction
        1. Solution By Value
      1. Security & Surveillance
        1. By Value
      1. Smart Payment System
        1. By Value
      1. E-Parking
        1. By Value
      1. License Plate Recognition
        1. By Value
  1. NORTH AMERICA MARKET ANALYSIS
    1. Introduction
    2. By Parking Site
      1. Introduction
        1. Parking Site By Value
      1. On-Street
        1. By Value
      1. Off-Street
        1. By Value
    1. By Application
      1. Introduction
        1. Application By Value
      1. Government
        1. By Value
      1. Commercial
        1. By Value
    1. By Technology
      1. Introduction
        1. Technology By Value
      1. IoT
        1. By Value
      1. Ultrasonic
        1. By Value
      1. RFID
        1. By Value
    1. By Solution
      1. Introduction
        1. Solution By Value
      1. Security & Surveillance
        1. By Value
      1. Smart Payment System
        1. By Value
      1. E-Parking
        1. By Value
      1. License Plate Recognition
        1. By Value
    1. U.S.
      1. By Parking Site
        1. Introduction
          1. Parking Site By Value
        2. On-Street
          1. By Value
        3. Off-Street
          1. By Value
      1. By Application
        1. Introduction
          1. Application By Value
        2. Government
          1. By Value
        3. Commercial
          1. By Value
      1. By Technology
        1. Introduction
          1. Technology By Value
        2. IoT
          1. By Value
        3. Ultrasonic
          1. By Value
        4. RFID
          1. By Value
      1. By Solution
        1. Introduction
          1. Solution By Value
        2. Security & Surveillance
          1. By Value
        3. Smart Payment System
          1. By Value
        4. E-Parking
          1. By Value
        5. License Plate Recognition
          1. By Value
    1. Canada
  1. EUROPE MARKET ANALYSIS
    1. Introduction
    2. By Parking Site
      1. Introduction
        1. Parking Site By Value
      1. On-Street
        1. By Value
      1. Off-Street
        1. By Value
    1. By Application
      1. Introduction
        1. Application By Value
      1. Government
        1. By Value
      1. Commercial
        1. By Value
    1. By Technology
      1. Introduction
        1. Technology By Value
      1. IoT
        1. By Value
      1. Ultrasonic
        1. By Value
      1. RFID
        1. By Value
    1. By Solution
      1. Introduction
        1. Solution By Value
      1. Security & Surveillance
        1. By Value
      1. Smart Payment System
        1. By Value
      1. E-Parking
        1. By Value
      1. License Plate Recognition
        1. By Value
    1. U.K.
      1. By Parking Site
        1. Introduction
          1. Parking Site By Value
        2. On-Street
          1. By Value
        3. Off-Street
          1. By Value
      1. By Application
        1. Introduction
          1. Application By Value
        2. Government
          1. By Value
        3. Commercial
          1. By Value
      1. By Technology
        1. Introduction
          1. Technology By Value
        2. IoT
          1. By Value
        3. Ultrasonic
          1. By Value
        4. RFID
          1. By Value
      1. By Solution
        1. Introduction
          1. Solution By Value
        2. Security & Surveillance
          1. By Value
        3. Smart Payment System
          1. By Value
        4. E-Parking
          1. By Value
        5. License Plate Recognition
          1. By Value
    1. Germany
    2. France
    3. Spain
    4. Italy
    5. Russia
    6. Nordic
    7. Benelux
    8. Rest Of Europe
  1. APAC MARKET ANALYSIS
    1. Introduction
    2. By Parking Site
      1. Introduction
        1. Parking Site By Value
      1. On-Street
        1. By Value
      1. Off-Street
        1. By Value
    1. By Application
      1. Introduction
        1. Application By Value
      1. Government
        1. By Value
      1. Commercial
        1. By Value
    1. By Technology
      1. Introduction
        1. Technology By Value
      1. IoT
        1. By Value
      1. Ultrasonic
        1. By Value
      1. RFID
        1. By Value
    1. By Solution
      1. Introduction
        1. Solution By Value
      1. Security & Surveillance
        1. By Value
      1. Smart Payment System
        1. By Value
      1. E-Parking
        1. By Value
      1. License Plate Recognition
        1. By Value
    1. China
      1. By Parking Site
        1. Introduction
          1. Parking Site By Value
        2. On-Street
          1. By Value
        3. Off-Street
          1. By Value
      1. By Application
        1. Introduction
          1. Application By Value
        2. Government
          1. By Value
        3. Commercial
          1. By Value
      1. By Technology
        1. Introduction
          1. Technology By Value
        2. IoT
          1. By Value
        3. Ultrasonic
          1. By Value
        4. RFID
          1. By Value
      1. By Solution
        1. Introduction
          1. Solution By Value
        2. Security & Surveillance
          1. By Value
        3. Smart Payment System
          1. By Value
        4. E-Parking
          1. By Value
        5. License Plate Recognition
          1. By Value
    1. Korea
    2. Japan
    3. India
    4. Australia
    5. Taiwan
    6. South East Asia
    7. Rest Of Asia-Pacific
  1. MIDDLE EAST AND AFRICA MARKET ANALYSIS
    1. Introduction
    2. By Parking Site
      1. Introduction
        1. Parking Site By Value
      1. On-Street
        1. By Value
      1. Off-Street
        1. By Value
    1. By Application
      1. Introduction
        1. Application By Value
      1. Government
        1. By Value
      1. Commercial
        1. By Value
    1. By Technology
      1. Introduction
        1. Technology By Value
      1. IoT
        1. By Value
      1. Ultrasonic
        1. By Value
      1. RFID
        1. By Value
    1. By Solution
      1. Introduction
        1. Solution By Value
      1. Security & Surveillance
        1. By Value
      1. Smart Payment System
        1. By Value
      1. E-Parking
        1. By Value
      1. License Plate Recognition
        1. By Value
    1. UAE
      1. By Parking Site
        1. Introduction
          1. Parking Site By Value
        2. On-Street
          1. By Value
        3. Off-Street
          1. By Value
      1. By Application
        1. Introduction
          1. Application By Value
        2. Government
          1. By Value
        3. Commercial
          1. By Value
      1. By Technology
        1. Introduction
          1. Technology By Value
        2. IoT
          1. By Value
        3. Ultrasonic
          1. By Value
        4. RFID
          1. By Value
      1. By Solution
        1. Introduction
          1. Solution By Value
        2. Security & Surveillance
          1. By Value
        3. Smart Payment System
          1. By Value
        4. E-Parking
          1. By Value
        5. License Plate Recognition
          1. By Value
    1. Turkey
    2. Saudi Arabia
    3. South Africa
    4. Egypt
    5. Nigeria
    6. Rest Of MEA
  1. LATAM MARKET ANALYSIS
    1. Introduction
    2. By Parking Site
      1. Introduction
        1. Parking Site By Value
      1. On-Street
        1. By Value
      1. Off-Street
        1. By Value
    1. By Application
      1. Introduction
        1. Application By Value
      1. Government
        1. By Value
      1. Commercial
        1. By Value
    1. By Technology
      1. Introduction
        1. Technology By Value
      1. IoT
        1. By Value
      1. Ultrasonic
        1. By Value
      1. RFID
        1. By Value
    1. By Solution
      1. Introduction
        1. Solution By Value
      1. Security & Surveillance
        1. By Value
      1. Smart Payment System
        1. By Value
      1. E-Parking
        1. By Value
      1. License Plate Recognition
        1. By Value
    1. Brazil
      1. By Parking Site
        1. Introduction
          1. Parking Site By Value
        2. On-Street
          1. By Value
        3. Off-Street
          1. By Value
      1. By Application
        1. Introduction
          1. Application By Value
        2. Government
          1. By Value
        3. Commercial
          1. By Value
      1. By Technology
        1. Introduction
          1. Technology By Value
        2. IoT
          1. By Value
        3. Ultrasonic
          1. By Value
        4. RFID
          1. By Value
      1. By Solution
        1. Introduction
          1. Solution By Value
        2. Security & Surveillance
          1. By Value
        3. Smart Payment System
          1. By Value
        4. E-Parking
          1. By Value
        5. License Plate Recognition
          1. By Value
    1. Mexico
    2. Argentina
    3. Chile
    4. Colombia
    5. Rest Of LATAM
  1. COMPETITIVE ASSESSMENT
    1. Adoption Matrix
    2. Smart Parking Market Share By Manufacturers
    3. Smart Parking Market Ranking By Revenue For Manufacturers
    4. Average Price By Manufacturers
    5. Vendor Footprint Analysis
  1. MARKET PLAYERS ASSESSMENT
    1. AMCO
      1. Overview
      2. Business Information
      3. Revenue
      4. ASP
      5. Gross Margin
      6. Swot Analysis
      7. Recent Developmments
    1. Cisco Systems, Inc.
    2. CivicSmart, Inc.
    3. Continental AG
    4. Huawei Technologies Co.
    5. IEM SA
    6. IPS Group, Inc.
    7. Nedap
    8. NEXPA
    9. ParkMobile, LLC.
    10. Robert Bosch GmbH
    11. Siemens
    12. Smart Parking Systems – (A Division Of Intercomp S.P.A.)
    13. Streetline
    14. Urbiotica
  1. RESEARCH METHODOLOGY
    1. Research Data
      1. Secondary Data
        1. Major Secondary Sources
        2. Key Data From Secondary Sources
      1. Primary Data
        1. Key Data From Primary Sources
        2. Breakdown Of Primaries
      1. Secondary And Primary Research
        1. Key Industry Insights
    1. Market Size Estimation
      1. Bottom-Up Approach
      2. Top-Down Approach
      3. Market Projection
    1. Research Assumptions
      1. Assumptions
    1. Limitations
    2. Risk Assessment
  1. APPENDIX
    1. Discussion Guide
    2. Customization Options
    3. Related Reports
  1. DISCLAIMER

Table of Content and Figure @ https://straitsresearch.com/report/smart-parking-market/toc

Market News

  • In April 2022- General Motors is the first automaker to use Cisco wireless backhaul technology for pre-production vehicle real-time, high-speed performance testing.
  • In March 2022- Cisco and Verizon are working together on a proof-of-concept that rethinks autonomous driving by virtualizing expensive roadside equipment.
  • In May 2022- Fayetteville, Arkansas, switches to Park Mobile’s contactless payment solution for all parking payments.
  • In April 2022- Jacksonville, Florida, partners with Park Mobile to introduce mobile parking payments.

News Media

Global Automated Parking System Market Grows at a Staggering CAGR of 15.1%

Increasing Number of Vehicles Driving the Demand for Parking Management Market During Forecast Period 2019–2026

IoT Sensor Technology to Revolutionize Smart Parking Technology

 Have a Look at the Related Research Report

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Automotive Robotics Market: Information by Component (Controllers, Robotic Arm), Type (Articulated, Cylindrical, Cartesian), Application (Welding, Painting), and Region — Forecast till 2030

Automotive Software Market: Information by Application (Safety System, Powertrain, Chassis), Product (Operating System), Vehicle Type (Autonomous Vehicles), and Region — Forecast till 2030

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Originally published at https://www.einpresswire.com/article/655733089/smart-parking-market-size-is-projected-to-reach-usd-16-54-billion-by-2030-growing-at-a-cagr-of-13-6-straits-research

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