Global Smart Parking Market- Industry Trends and Forecast to 2026

Global Smart Parking Market is a professional and in depth market report that focuses on primary and secondary drivers, market share, possible sales volume, leading segments and geographical analysis of ABC industry. It shows that the rise in market value is generally attributed to the rising growth of the applicable industries and the subsequent rise in demand of applications. The Global Smart Parking Market analysis gives an examination of various segments that are relied upon to witness the quickest growth amid the approximate forecast frame. The competitive landscape section of the Global Smart Parking Market report brings into light a clear insight about the market share analysis of major industry players.

According to Data Bridge Market Research new Market report, global smart parking market will account to reach an estimated USD 3.38 billion in 2018 growing at a CAGR of 17.85% during the forecast period of 2019 to 2026.

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Global Smart Parking Market

Smart parking can be defined as an automotive technology which combines various sensors and modern technology which results in reduced consumption of other resources achieving an efficiency of operations. The sensors connected on the parking infrastructure, parking areas, vehicles, are interconnected which combine the information collected to park the vehicles without the risk of any harm towards the vehicle.

Segmentation: Global Smart Parking Market

Global smart parking market is segmented on the basis of system type, component, sensor technology, vertical, solution and geography. By System Type (Guided Park Assist, Smart Park Assist), Component (Parking Sensors, Steering Angle Sensors, ECU, Display Unit), Sensor Technology (Ultrasonic Sensor, Radar Sensor, Image Sensor), Vertical (Government, Commercial), Solution (Security & Surveillance, Parking Reservation Management, Valet Parking Management, License Plate Recognition), Geography (North America, South America, Europe, Asia-Pacific, Middle East & Africa) FACTORS DRIVING GROWTH IN SMART PARKING MARKET Innovations and adoption of technology from the various regions

In January 2019, China launched a first of its kind diagonal smart parking garage that drives and allocates the vehicles to a unique spot. In this smart parking system, the driver parks the car on a driving platform and the platform parks the vehicles in a free parking spot, retrieving the vehicle afterwards whenever the driver requires it

In November 2016, Thai government announced their plans to adopt the 4.0 initiative with Bosch backing this initiative and planning to roll out automated valet parking based on this interconnection

Key Market Competitors: Global Smart Parking Market

Few of the major competitors currently working in the smart parking market are Robert Bosch GmbH, Continental AG, Valeo, Delphi Technologies, AISIN SEIKI Co. Ltd., Siemens AG, Cubic Corporation, Amano Corporation, Kapsch TrafficCom AG, AppyParking, Smart Parking, TKH GROUP, and Nedap

The scope of Global Smart Parking Market report extends from market scenarios to comparative pricing between major players, cost and profit of the specified market regions. Research and analysis is carried out in this Global Smart Parking Market report with one step or the combination of several steps depending upon the client need and the business requirements. Different markets, marketing strategies, trends, future products and emerging opportunities are taken into account while studying market and preparing this report. This Global Smart Parking Market report has estimations of Compound Annual Growth Rate (CAGR) in % value for the forecasted period that will help user or client to take decision based on futuristic chart.

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