According to Goldstein Research, fulfilling the requirements of on-street or off-street parking, enabling customers to find spaces quickly and easily and efficient management technology for space utilization with simple payment and compliance procedures are driving the growth of smart parking marketall across the globe. Global Smart Parking Market Outlook also includes product development, technological advancements and investment strategies adopted by major market players in order to expand their business across the globe.The demand for off street parking constitutes the majority for the demand of smart parking systems, amounting to over 65% of the global smart parking market. The segment for parking site providers accounts for majority of the market share in overall service provider market compared to other service providers.

Market Segmentation

On the basis of our in-depth analysis, global smart parking market can be segmented as follows:
• By Smart Parking Component

o Sensors
 Ultrasonic Sensors
 Magnetic Sensors
 Radar Sensors
 Image Sensors

o Cameras
o Smart Parking Meters
o Electronic Billing and Payment Systems
o Others (Displays, ECUs)

• By Smart Parking Site
o On Street Parking
o Off Street Parking

• By Smart Parking Service Provider
o Parking Management System Providers
o Parking Site Providers
o Electronic Payment Technology Providers

• By Smart Parking Vertical
o Residential
o Commercial

• Based on Geography
o North America (U.S. & Canada) Smart Parking Market {Market Share (%), Market Size(USD Billion)}
o Latin America (Brazil, Mexico, Argentina & Rest of Latin America) Smart Parking Market {Market Share (%), Market Size(USD Billion)}
o Europe (The U.K., Germany, France, Italy, Spain, Poland, Sweden & RoE) Smart Parking Market {Market Share (%), Market Size(USD Billion)}
o Asia-Pacific (China, India, Japan, Singapore, South Korea, Australia, New Zealand, Rest of Asia) Smart Parking Market {Market Share (%), Market Size(USD Billion)}
o Middle East & Africa (GCC, South Africa, North Africa, RoMEA) Smart Parking Market {Market Share (%), Market Size(USD Billion)}
“Global Smart Parking Market Outlook 2024” contains detailed overview of the global Smart Parking market. On the basis of our in-depth analysis, market can be segmented in terms of market segmentation by component, site, service provider and vertical.

Further, for the in-depth analysis, Global Smart Parking Market Report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis. This market report also includes competitive outlook of some of the major players profiling of companies such as 3M, Aeris Communications, Cisco, Deutsche Telekom, Gemalto, HCL, IBM, Jasper Technologies, MSR-Traffic, Nedap Mobility Solutions, Orange Business Services, PARX, ParkHelp, ParkMe, Parkmobile, Parkopedia, Q-Park, Serco, Siemens, Sierra Wireless, SKIDATA. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments. Overall, the report represents the global smart parking market trends along with market forecast that will help industry consultants, technology providers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

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