Segmentation

The global Smart Parking Market Analysis has been segmented on the basis of parking site, technology, and regions. Parking site has been segmented into on-street, and off-street. Off street parking is more commonly preferred as it is the safer parking method as opposed to on-street parking. The off-street parking segmented captured a market share of 68.45% and is expected to retain its leadership position.

Technology has been segmented to include SmartApp, in-ground vehicle detection sensor, RFID, ultrasonic, and others. The SmartApp segment accounted for a share of 34.14% which makes it the largest segment in the market. SmartApp is increasingly popular as the integrated technology can be used to assist drivers in real time to find available parking spots.

Regions covered in the report include Europe, North America, Asia Pacific and the Rest of the World.

Regional Analysis

The Asia Pacific has emerged as the largest region in the global Smart Parking Market Analysis due to the presence of massive populations in economically booming countries of China, Japan, and India. The increasing rate of registration of new vehicles combined with expanding urbanization in the region is expected to drive the APAC market. Emerging countries in the APAC region are actively in the process of integrated smart city solutions in various tier 1 and tier 2 cities. Europe accounted for the second largest region in the global market, while North America comes in third in terms of market size. Both regions have significant market players as well as developed economies where smart parking solutions are being employed increasingly            

Key Players

The leading market players that have been included in MRFR’s report on the global Smart Parking Market Analysis include Omnitec group (UAE), Robert Bosch GmbH (Germany), Smart Parking Limited (Australia), Dongyang Menics Co., Ltd (South Korea), Parklayer (India), IEM SA (Switzerland), Amano McGann, Inc. (U.S.), IPS Group Inc. (U.S.), Mindteck (India), and Klaus Multiparking Systems (Germany). These players have been analyzed for their competitive role in the market as well as the market strategies that they employ