smart parking platform market

smart parking platform market Research
Report By Forecast 2023
Industry Survey, Growth, Competitive Landscape
and Forecasts to 2023
PREPARED BY
Market Research Future
(Part of Wantstats Research & Media Pvt. Ltd.)

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smart parking platform market Forecast To 2023
smart parking platform market Forecast To 2023
The global smart parking platform market is expected to exhibit a robust 18% CAGR over the forecast period from
2017 to 2023, according to the latest research report from Market Research Future (MRFR). The global smart parking
platform market is mainly driven by the increasing investment by private investors in smart parking projects, as these
have emerged as a highly profitable venture in today’s rapidly urbanizing world. The research report projects the
global smart parking platform market to reach a valuation of USD 2,134 million by 2023. The report presents a
detailed historical analysis of the global smart parking platform market, providing a review on the leading drivers and
restraints for the market as well as the major players operating in the market.

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smart parking platform market Forecast To 2023
“Taste the market data and market information presented through more than 50 market data tables
and figures spread in 100 numbers of pages of the project report. Avail the in-depth table of content
TOC & market synopsis on Internet of smart parking platform market Forecast To 2023”
• The demand from the smart parking platform market is mainly driven by the increasing number of vehicles on the
road in developed as well as developing countries. Smart parking systems allow drivers to find a parking spot in
advance and also pay for it in advance using ecommerce tools from their phone or in-car ecommerce portal. The
convenience of this systems is particularly felt in the increasingly congested city centers in developed countries
such as the UK, the U.S., and France. As the major commercial and financial avenues in a city are usually located in
the city center, the number of vehicles coming into the city center everyday is quite high. This has caused parking
and traffic congestion problems in developed countries, leading to a growing demand for solutions such as hybrid
smart parking platforms.

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smart parking platform market Forecast To 2023
Global smart parking platform market Segmented on the basis of
The global smart parking platform market is segmented on the basis of component, parking type, solution,
application, and region.
By component, the global smart parking platform market is segmented into hardware, software, and
services.
By parking type, the global smart parking platform market is segmented into on-street and off-street
parking. Off-street parking, which comprises the construction of buildings specifically intended to be used
as parking space, is likely to be the more popular option in the global smart parking platform market over
the forecast period, as on-street parking may not solve the problem of congestion in some locations.

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smart parking platform market Forecast To 2023
Global smart parking platform market - Geographical Analysis
North America is likely to dominate the global smart parking platform market over the forecast period due to the
widespread awareness about smart parking systems in the region and the increasing demand for effective smart
parking systems in cities in the U.S. Europe holds the second largest share in the global smart parking platform
market and is likely to grow at a stable growth rate over the forecast period.
Asia Pacific is expected to exhibit the highest growth rate over the forecast period due to the increasing
urbanization in Asia Pacific, which has resulted in an increasing volume of urban commuters driving into cities
every day, resulting in increasing traffic congestion problems.
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smart parking platform market Forecast To 2023
Global smart parking platform market - Competitive Analysis
• Leading players in the global smart parking platform market include Robert Bosch GmbH, Acer Inc., Huawei
Technologies Co. Ltd., Siemens AG, NuPark, Kapsch TrafficCom AG, IPS Group Inc., Tata Elxsi, Libelium, and
Streetline.
• In July 2019, ParkMobile launched a new smart parking facility in Montgomery, AL.
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