Smart Parking Market by Valeo S.A., Continental AG, Robert Bosch GmbH, Kapsch TrafficCom AG, Cubic

According to the market research Smart Parking Market by System (Guided & Smart Park), Technology (Ultrasonic, Radar, Image), Component, Parking Management by Solution (Security & Surveillance, Valet & Parking Reservation, License Plate Recognition), and Vertical - Global Forecast to 2021. The U.S. National Highway Traffic Safety Administration (NHTSA) ruled that all new passenger cars shall be equipped with rear view cameras from 2018 onwards and also the Indian Ministry of Road Transport and Highway (MoRTH) is expected to make rear view sensors mandatory for all passenger vehicles in India. The base year considered for the study is 2015, and the forecast period is 2016 to 2021. The smart parking market is projected to grow at a CAGR of 17.94% during the forecast period, to reach a market size of USD 5.25 billion by 2021 from USD 2.13 billion in 2015. Don’t miss out on business opportunities in E-bike Market. Download our free PDF Brochure and gain crucial industry insights that will help your business grow: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=123959229 The demand for parking management solutions is increasing, owing to the growing concerns related to traffic congestion and environmental pollution. Parking space operators are offering various services such as security and surveillance, parking reservation management, valet parking management, and license plate recognition. These services reduce wastage of time, enable pre booking of parking spaces, provide cashless payment options, and enhanced security of vehicle. The parking management market in Asia-Oceania is estimated to be growing at a high CAGR due to the rising number of vehicles on the road, in this region and the need for better traffic and parking management.

Request for free Customization:

https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=123959229 Use of parking sensors in smart parking market is growing owing to additional benefits such as driver assistance and safety and optimum utilization of parking space. Ultrasonic sensor is one such parking sensor whose application in smart park assist systems by automobile manufacturers is growing. Similarly, image and radar sensors are coming up as advanced innovation in the smart parking market. Limited availability for parking in traffic-dense cities and smaller parking lots has increased the stress related to parking.

Browse and in-depth TOC on Smart Parking Market

78 - Tables

58 - Figures

164 – Pages

Ultrasonic sensor to be the largest sensor the technology used in the smart parking market

Ultrasonic sensors is expected to dominate the smart parking market for passenger cars. The key application of ultrasonic sensors in smart parking is to assist the driver by identifying an appropriate parking space and provide short-range detection of obstacles in the parking range. The ultrasonic sensors are preferred owing to their lower cost as compared with image and radar sensors. The average number of ultrasonic sensors employed in a smart park assist equipped passenger car is around 4-10 units according to MarketsandMarkets analysis. Many automotive components manufacturers such as Continental AG (Germany) and Robert Bosch GmbH (Germany) manufacture ultrasonic sensors catering to various driver assistance functions in a passenger car.

Request for sample:

https://www.marketsandmarkets.com/requestsampleNew.asp?id=123959229

Smart Parking Market Key Players

Key players in the market include Valeo S.A. (France), Continental AG (Germany), Robert Bosch GmbH (Germany), Kapsch TrafficCom AG (Austria), Cubic Corporation (U.S.), TKH Group-Park Assist (Netherlands). These players are increasingly undertaking mergers and acquisitions, and product launches to develop and introduce new technologies and products in the market.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:

Mr. Shelly Singh

MarketsandMarkets™ INC.

630 Dundee Road

Suite 430

Northbrook, IL 60062

USA : 1-888-600-6441

https://www.marketsandmarkets.com/

Contact: Mr. Shelly Singh MarketsandMarkets™ Inc. 630 Dundee Road Suite 430 Northbrook, IL 60062 Usa : 1-888-600-6441 sales@marketsandmarkets.com