Hybrid Smart Parking Platform Market, By Component, By Parking Type (On Street, Off Street), By Solution (Security & Surveillance, Valet Parking Management, Parking Reservation Management, License Plate Recognition) By Application - Forecast 2023

The prominent players in hybrid smart parking platform market are – Streetline (U.S.), Libelium (Spain), Tata Elxsi (India), IPS Group, Inc. (U.S.), Kapsch TrafficCom AG (Germany), NuPark (U.S.), Siemens AG (Germany), Huawei Technologies Co. Ltd. (China), Acer Inc. (Taiwan), Robert Bosch GmbH (Germany) among others are profiled in Market Research Future analysis and are at the forefront of competition in the global hybrid smart parking platform market.

Streetline has been recognized with the global product line strategy leadership award for the year 2016. Streetline uses machine learning techniques to deploy hybrid smart parking platform in order to merge data that is collected for real time parking guidance and analytics. Streetline is considered to be a world leader in smart parking solutions and management.

Hybrid Smart Parking Platform Global Market - Overview

Smart parking solutions prove a necessity for the present scenario of rising vehicle population and parking spaces. Many government authorities and various enterprises are investing in smart parking management market. The smart parking platform combines a city’s existing parking data to provide a unified view of real – time parking demand and city – wide parking guidance. These system deploy machine learning techniques to merge multiple data sources into a unified dataset for parking guidance and analytics.

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Industry News

January 2018, Autonomous technology, development of smart cities dominate CES. Clarion and Hitachi demonstrated an autonomous valet parking system, which featured a completely driverless vehicle in a closed-off parking area. Another demo featured, park by memory technology, illustrating how vehicles can learn to park itself in familiar settings, such as home garages. Visteon Corp. introduced the DriveCore autonomous controller, a platform that enables automakers to build autonomous driving solutions in an open collaboration model. It showed a range of all-digital display systems, including an instrument cluster with integrated driver monitoring infrared cameras for facial recognition and head and eye-gaze tracking.

January 2018, SpotHero Announces Voice-Activated, In-Car Parking Reservations via the Google Assistant in Android Auto. SpotHero has launched a new integration that enables drivers to book parking with the Google Assistant using voice commands. Drivers with Android Auto will be able use SpotHero and the Google Assistant to find and pay for parking on the go, completely hands-free. The company announced their first ground-breaking integration, by working with the Google Assistant to bring voice-activated parking to drivers seeing a huge opportunity to improve not only the parking experience, but also the overall driving experience.

January 2018, FlashParking's Trivia-based Video Game Parking Rockstar Challenges Members of the Parking Industry. A trivia-based video game, Parking Rockstar will put players' parking knowledge and skills to the test. The Parking Rockstar Challenge is a fun way to engage and reward members of the industry for their parking knowledge prowess.

January 2018, American Tower Corporation And Philips Lighting Honored With 2018 IoT Breakthrough Awards. American Tower and Philips Lighting were recognized for their innovative efforts to co-develop an aesthetically designed smart light pole that blends seamlessly into the urban landscape, delivering both 4G/5G wireless network capacity for multiple mobile network operators and quality energy-efficient LED lighting in a single solution. This solution will enable new applications, including E911, smart parking, traffic management and more.

December 2018, San Francisco smart city pilots aim to make streets safer. The San Francisco Municipal Transportation Agency (SFMTA) is playing a key role in the city's smart initiatives and is working to improve transit while pursuing environmental goals such as zero carbon emission. The SF-park program was created to reduce the time people spent looking for parking, which could delay transit, block bicyclists and lead to more distracted driving.

Hybrid Smart Parking Platform Global Market - Segmentation

Segmentation by Component: Hardware, Software, Services.

Segmentation by Parking Type: On-Street Parking, Off-Street Parking.

Segmentation by Applications: Government, Residential, Commercial

Segmentation by Solution: Security and Surveillance, Valet Parking Management, Parking Reservation Management, and License Plate Recognition

Segmentation by Region: North America, Europe, Asia Pacific, Latin America, Middle East & Africa.

Hybrid Smart Parking Platform Global Market - Regional Analysis

The geographical analysis of hybrid smart parking platform market is dominated by North America, which is estimated to account for the largest share of the market, followed by Europe, whereas Asia-Pacific is projected to grow at the fastest rate during the forecast period. The major growth factor in hybrid smart parking platform market in North America is attributed to technological advancements and increasing number of vehicles leading towards growing traffic concerns.

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