Smart Parking Globally Demand in Automotive Industry
The smart parking systems market generated revenue of $ 3.4 billion in 2018, and it is projected to value $ 9.1 billion in 2024.Off-street parking was the larger category in 2018, based on parking site, as it makes the parking and payment process easy, Further, such solutions allow for the parking of vehicles for shorter as well as longer durations.With the development of smart cities, governments are promoting such systems, to make parking in cities more organized.
A major driver for the smart parking systems market is the rapid smart city development.Extensive research and development (R & D) activities are being undertaken to integrate managed operations with connected solutions.Due to this, smart parking systems have witnessed widespread adoption, aimed at making real-time information about the parking slots available to drivers, before they even begin the journey.Additional, government initiatives aimed at making cities smart are also supporting the usage of smart parking systems.
Explore Full Report Description At @ https://www.psmarketresearch.com/market-analysis/smart-parking-systems-market
Idustry Key Players:
Robert Bosch GmbH, Amano Corporation, Smart Parking Ltd., Urbiotica SL, IPS Group Inc., Kapsch TrafficCom AG, Nedap NV, ParkMobile LLC, Siemens AG, WORLDSENSING SL, Continental AG, Valeo SA, Xerox Corporation, Delphi Technologies PLC, and Cisco Systems Inc. are the most prominent players in the smart parking systems market , which is highly competitive.The players are taking several measures, such as partnerships, mergers, and acquisitions and successful client win pursuance to stay on top of the competition.instance , SWARCO TRAFFIC Ltd. agreed to integrate 11 count-control cabinets and 17 red-green-blue (RGB) matrix signs in the city of Cambridge, in 2019.
Market Segmentation by Parking Site
- Off-Street
- On-Street
Market Segmentation by Technology
- Hardware
- Software
- Service
Market Segmentation by End User
- Commercial
- Government
- Others
