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Smart Parking Systems Market Growing due to the Need for Hassle-Free Parking Space in Various Locations

Press Release   •   Oct 07, 2016 03:32 EDT

Market Research Reports Search Engine (MRRSE) has recently added a new market research report, titled ‘ Smart Parking Systems Market (By Parking Site Type - On-street Parking, Off-street Parking; By Component - Sensor and Network Hardware, Software, Services; By Application Areas - Airports, Government and Municipalities and Corporate and Commercial Institutions) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2022’ , to its huge collection of research reports.

Smart parking systems consist of low-cost sensors, automated payment systems, and real-time data collection and analytics tools that allow users to find parking in their desired locations and pay for it in advance. These systems help owners by providing them real-time information about the availability of parking spaces in a specific location.

The report analyzes all the factors that drive and restrict the growth of the smart parking systems market. One of the major factors driving the smart parking systems market is the rapid growth in the number of vehicles across the globe. The rise in the number of vehicles is intensifying the problem of the scarcity of parking space and in turn propelling the necessity of smart and efficient parking systems. The report also identifies the major strategies enhancing the growth of the smart parking systems market, various opportunities in this market, and prevailing market trends.

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The study report provides market estimates and forecasts of all the segments in terms of revenue. It describes the ecosystem and market size of the smart parking systems market in the U.S., Europe, and many other regions across the globe. By geographical analysis, the report segments the global smart parking systems market into North America (including the U.S. and Rest of North America), the Middle East and Africa (MEA), Latin America, Europe (further divided into CIS, EU7, and Rest of Europe), and Asia Pacific (including Japan, South Asia, China, Australasia, and Rest of Asia Pacific). All these regions are analyzed in terms of their current and potential revenue generation.

The three main segments studied in the smart parking systems market are system integration and installation, parking management, and maintenance. By parking site types, the global smart parking systems market is segmented into on-street parking and off-street parking. On the basis of components, the market includes sensor and network hardware, software, and services.

Moreover, by application, the research report provides a complete insight into the various application areas of the smart parking systems market. These include government and municipalities, airports, and corporate and commercial institutions.

Some of the major players engaged in the smart parking systems market have been listed in the report. The key business strategies adopted by these major players, their market positioning, and various recent developments have also been identified during this study. These major players are Swarco AG, Urbiotica, Skidata AG, Cisco Systems, Inc., Smart Parking Ltd, Streetline, Inc., Parkmobile, LLC., Nedap N.V., ParkMe, Inc., and Amano McGann, Inc.