Global Smart Parking Systems Market Size, Trends, and Growth Opportunity, By Hardware (Pucks, Cameras & LPRs, Smart Meters, Signage, Parking Gates) By Software (Parking Guidance System, Analytics Solutions) By Service (Consulting, Engineering, and Mobile App Parking Service) By Type (On-street, Off-street) By Application (Commercial, Government, Transport Transit). By Region And forecast till 2027.
Global Smart Parking Systems Market
The Global Smart Parking Systems Market has a value of USD 7.44 billion in 2021 and is projected to grow at a CAGR of 22.1% from 2022 to 2027 to reach USD 30.16 billion.
Smart parking systems manage parking spaces in the city efficiently and drivers in locating available parking spaces to avoid traffic congestion. Increasing use of smart parking meters, License Plate Recognition (LPR) cameras, and parking guidance systems for parking along with the rising vehicle sales are the factors responsible for the expansion of the growth of the smart parking system market.
Market Drivers
Increasing government investment in smart city projects and initiatives to overcome traffic congestion along with advancements in the Internet of Things (IoT), and rising
investment in R&D for innovative product development propelling the market growth. Additionally, the significant rise in automated parking solutions collaborated with the advancements in wireless and digital payment technologies to boost the market.
Market Restraints
Lack of awareness among people regarding the benefits of smart parking hinders the growth of the market. Additionally, the smart parking solutions equipped with RFID tags due to electromagnetic interference face disruption in signals occur which restrains the market growth.
COVID-19 Impact on Smart Parking Systems Market
Due to the Outbreak of COVID-19, the market was affected adversely as the government imposed strict lockdowns and people are not stepping from homes due to the fear of virus transmission.
Market Segmentation
The global Smart Parking Systems market is segmented based on Hardware, Software, Service, Type, and Application. Based on Hardware it is segmented into Pucks, Cameras & LPRs, Smart Meters, Signage, and Parking Gates. Based on Software it is segmented into Parking Guidance System and Analytics Solutions. Based on Service it is segmented into Consulting, Engineering, and Mobile App Parking Service. Based on Type it is segmented into On-street and Off-street. Based on Application it is segmented into Commercial, Government, and Transport Transit.
Regional Analysis
Five geographical regions make up the global market for smart parking systems: North America, Europe, Latin America, Asia Pacific, the Middle East, and Africa. North America dominated the market due to the increasing number of vehicles in this region. Asia Pacific has also witnessed a significant rise in the Smart Parking Systems market.
Key Players
Various key players are listed in this report such as Altiux Innovations, Amano McGann Inc, Amco SA, BMW AG, Cisco Systems Inc, Civic Smart Inc, Deteq Solution, Flowbird, Gtechna, Indect Electronics & Distribution GmbH, Kapsch Traffic Com, Libelium Comunicaciones Distribuidas S L, Meter Feeder Inc, Mindteck Municipal Parking Services Inc, Nedap N V, Park Assist, ParkHelp Technologies, ParkJockey, ParkMe Inc, Robert Bosch GmbH, Siemens AG, SKIDATA AG, Smart Parking Ltd, SpotHero Inc, Swarco AG, Urbiotica SL.
Market Taxonomy
Hardware
• Pucks (Wireless Sensors)
• Cameras & LPRs
• Smart Meters
• Signage
• Parking Gates
Software
• Parking Guidance System
• Analytics Solutions
Service
• Consulting Service
• Engineering Service
• Mobile App Parking Service
Type
• On-street
• Off-street
• Garage Parking
• Lot Parking
Application
• Commercial
• Government
• Transport Transit
By Region
• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa
Key Questions Addressed by the Report
• What are the Key Opportunities in Smart Parking Systems Market?
• What will be the rate of growth from 2022 to 2027?
• What factors will influence/drive the market?
• What are the factors that will impact/drive the Market?
• What role do key players in the value chain play?
Global Smart Parking Systems Market
1 Introduction
1.1 Objective of the Study
1.2 Market definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data Sources
3 Executive Summary
4 Global Smart Parking Systems Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Global Smart Parking Systems Market, By Hardware Type
5.1 Y-o-Y Growth Comparison, ByHardware Type
5.2 Global Smart Parking Systems Market Share Analysis, By Hardware Type
5.3 Global Smart Parking Systems Market Size and Forecast, By Hardware Type
5.3.1 Pucks
5.3.2 Cameras & LPRs
5.3.3 Smart Meters
5.3.4 Signage
5.3.5 Parking Gates
6 Global Smart Parking Systems Market, By Software Type
6.1 Y-o-Y Growth Comparison, By Software type
6.3 Global Smart Parking Systems Market Share Analysis, By Software type
6.3 Global Smart Parking Systems Market Size and Forecast, By Software type
6.3.1 Parking Guidance System
6.3.2 Analytics Solutions
7 Global Smart Parking Systems Market, By Service Type
7.1 Y-o-Y Growth Comparison, By Service Type
7.2 Global Smart Parking Systems Market Share Analysis, By Service Type
7.3 Global Smart Parking Systems Market Size and Forecast, By Service Type
7.3.1 Consulting
7.3.2 Engineering
7.3.3 Mobile App Parking Service
8 Global Smart Parking Systems Market, By Type
8.1 Y-o-Y Growth Comparison, By Type
8.2Global Smart Parking Systems Market Share Analysis, By Type
8.3 Global Smart Parking Systems Market Size and Forecast, By Type
8.3.1 On-street
8.3.2 Off-street
9 Global Smart Parking Systems Market, By Application
9.1 Y-o-Y Growth Comparison, By Application
9.2Global Smart Parking Systems Market Share Analysis, By Application
9.3 Global Smart Parking Systems Market Size and Forecast, By Application
9.3.1 Commercial
9.3.2 Government
9.3.3 Transport Transit
10Global Smart Parking Systems Market, By Region
10.1 Global Smart Parking Systems Market Share Analysis, By Region
10.2 Global Smart Parking Systems Market Size and Forecast, By Region
11 North America Smart Parking Systems Analysis and Forecast (2022-2027)
11.1 Introduction
11.2 North America Smart Parking Systems Market Share Analysis, By Hardware Type
11.3 North America Smart Parking Systems Market Size and Forecast, By Software
11.4 North America Smart Parking Systems Market Size and Forecast, By Service
11.5 North America Smart Parking Systems Market Size and Forecast, By Type
11.6 North America Smart Parking Systems Market Size and Forecast, By Application
11.7 North America Smart Parking Systems Market Size and Forecast, By Country
11.7.1 U.S
11.7.2 Canada
11.7.3 Mexico
12EuropeSmart Parking Systems Market Analysis and Forecast (2022-2027)
12.1 Introduction
12.2 Europe Smart Parking Systems Market Share Analysis, By Hardware Type
12.3 Europe Smart Parking Systems Market Size and Forecast, By Software
12.4 Europe Smart Parking Systems Market Size and Forecast, By Service
12.5 Europe Smart Parking Systems Market Size and Forecast, By Type
12.6 Europe Smart Parking Systems Market Size and Forecast, By Application
12.7 Europe Smart Parking Systems Market Size and Forecast, By Country
12.7.1 Germany
12.7.2 France
12.7.3 UK
12.7.4 Rest of Europe
13 Asia Pacific Smart Parking Systems Market Analysis and Forecast (2022-2027)
13.1 Introduction
13.2 Asia-Pacific Smart Parking Systems Market Size and Forecast, ByHardware Type
13.3 Asia-Pacific Smart Parking Systems Market Size and Forecast, By Software
13.4 Asia-Pacific Smart Parking Systems Market Size and Forecast, By Service
13.5 Asia-Pacific Smart Parking Systems Market Size and Forecast, By Type
13.6 Asia-Pacific Smart Parking Systems Market Size and Forecast, By Application
13.7Asia-Pacific Smart Parking Systems Market Size and Forecast, By Country
13.7.1 China
13.7.2 Japan
13.7.3 India
13.7.4. Rest of Asia Pacific
14 Latin America Smart Parking Systems Market Analysis and Forecast (2022-2027)
14.1 Introduction
14.2 Latin America Smart Parking Systems Market Size and Forecast, By Hardware Type
14.3 Latin America Smart Parking Systems Market Size and Forecast, By Software
14.4 Latin America Smart Parking Systems Market Size and Forecast, By Service
14.5 Latin America Smart Parking Systems Market Size and Forecast, By Type
14.6 Latin America Smart Parking Systems Market Size and Forecast, By Application
14.7 Latin America Smart Parking Systems Market Size and Forecast, By Country
14.7.1 Brazil
14.7.2.Rest of Latin America
15Middle East Smart Parking Systems Market Analysis and Forecast (2022-2027)
15.1 Introduction
15.2 Middle East Smart Parking Systems Market Share Analysis, By Hardware Type
15.3 Middle East Smart Parking Systems Market Size and Forecast, By Software
15.4 Middle East Smart Parking Systems Market Size and Forecast, By Service
15.5 Middle East Smart Parking Systems Market Size and Forecast, By Type
15.6 Middle East Smart Parking Systems Market Size and Forecast, By Application
15.7Middle East Smart Parking Systems Market Size and Forecast, By Country
15.7.1. Saudi Arabia
15.7.2. UAE
15.7.3. Egypt
15.7.4. Kuwait
15.7.5. South Africa
16 Competitive Analysis
16.1 Competition Dashboard
16.2 Market share Analysis of Top Vendors
16.3 Key Development Strategies
17 Company Profiles
17.1. Altiux Innovations
17.1.1 Overview
17.1.2 Offerings
17.1.3 Key Financials
17.1.4 Business Segment & Geographic Overview
17.1.5 Key Market Developments
17.1.6 Key Strategies
17.2. Amano McGann Inc
17.2.1 Overview
17.2.2 Offerings
17.2.3 Key Financials
17.2.4 Business Segment & Geographic Overview
17.2.5 Key Market Developments
17.2.6 Key Strategies
17.3. Amco SA
17.3.1 Overview
17.3.2 Offerings
17.3.3 Key Financials
17.3.4 Business Segment & Geographic Overview
17.3.5 Key Market Developments
17.3.6 Key Strategies
17.4. BMW AG
17.4.1 Overview
17.4.2 Offerings
17.4.3 Key Financials
17.4.4 Business Segment & Geographic Overview
17.4.5 Key Market Developments
17.4.6 Key Strategies
17.5. Cisco Systems Inc
17.5.1 Overview
17.5.2 Offerings
17.5.3 Key Financials
17.5.4 Business Segment & Geographic Overview
17.5.5 Key Market Developments
17.5.6 Key Strategies
17.6. Civic Smart Inc
17.6.1 Overview
17.6.2 Offerings
17.6.3 Key Financials
17.6.4 Business Segment & Geographic Overview
17.6.5 Key Market Developments
17.6.6 Key Strategies
17.7. Deteq Solution
17.7.1 Overview
17.7.2 Offerings
17.7.3 Key Financials
17.7.4 Business Segment & Geographic Overview
17.7.5 Key Market Developments
17.7.6 Key Strategies
17.8. Flowbird
17.8.1 Overview
17.8.2 Offerings
17.8.3 Key Financials
17.8.4 Business Segment & Geographic Overview
17.8.5 Key Market Developments
17.8.6 Key Strategies
17.9. gtechna
17.9.1 Overview
17.9.2 Offerings
17.9.3 Key Financials
17.9.4 Business Segment & Geographic Overview
17.9.5Key Market Developments
17.9.6 Key Strategies
17.10. INDECT Electronics & Distribution GmbH
17.10.1 Overview
17.10.2 Offerings
17.10.3 Key Financials
17.10.4 Business Segment & Geographic Overview
17.10.5 Key Market Developments
17.10.6 Key Strategies
17.11. Kapsch Traffic Com
17.11.1 Overview
17.11.2 Offerings
17.11.3 Key Financials
17.11.4 Business Segment & Geographic Overview
17.11.5 Key Market Developments
17.11.6 Key Strategies
17.12. Libelium Comunicaciones Distribuidas S L
17.12.1 Overview
17.12.2 Offerings
17.12.3 Key Financials
17.12.4 Business Segment & Geographic Overview
17.12.5 Key Market Developments
17.12.6 Key Strategies
17.13. Meter Feeder Inc
17.13.1 Overview
17.13.2 Offerings
17.13.3 Key Financials
17.13.4 Business Segment & Geographic Overview
17.13.5 Key Market Developments
17.13.6 Key Strategies
17.14. Mindteck Municipal Parking Services Inc
17.14.1 Overview
17.14.2 Offerings
17.14.3 Key Financials
17.14.4 Business Segment & Geographic Overview
17.14.5 Key Market Developments
17.14.6 Key Strategies
17.15. Nedap N V
17.15.1 Overview
17.15.2 Offerings
17.15.3 Key Financials
17.15.4 Business Segment & Geographic Overview
17.15.5 Key Market Developments
17.15.6 Key Strategies
17.16. Park Assist
17.16.1 Overview
17.16.2 Offerings
17.16.3 Key Financials
17.16.4 Business Segment & Geographic Overview
17.16.5 Key Market Developments
17.16.6 Key Strategies
17.17. ParkHelp Technologies
17.17.1 Overview
17.17.2 Offerings
17.17.3 Key Financials
17.17.4 Business Segment & Geographic Overview
17.17.5 Key Market Developments
17.17.6 Key Strategies
17.18. ParkJockey
17.18.1 Overview
17.18.2 Offerings
17.18.3 Key Financials
17.18.4 Business Segment & Geographic Overview
17.18.5 Key Market Developments
17.18.6 Key Strategies
17.19. ParkMe Inc
17.19.1 Overview
17.19.2 Offerings
17.19.3 Key Financials
17.19.4 Business Segment & Geographic Overview
17.19.5 Key Market Developments
17.19.6 Key Strategies
17.20. Robert Bosch GmbH
17.20.1 Overview
17.20.2 Offerings
17.20.3 Key Financials
17.20.4 Business Segment & Geographic Overview
17.20.5 Key Market Developments
17.20.6 Key Strategies
17.21. Siemens AG
17.21.1 Overview
17.21.2 Offerings
17.21.3 Key Financials
17.21.4 Business Segment & Geographic Overview
17.21.5Key Market Developments
17.21.6 Key Strategies
17.22. SKIDATA AG
17.22.1 Overview
17.22.2 Offerings
17.22.3 Key Financials
17.22.4 Business Segment & Geographic Overview
17.22.5 Key Market Developments
17.22.6 Key Strategies
17.23. Smart Parking Ltd
17.23.1 Overview
17.23.2 Offerings
17.23.3 Key Financials
17.23.4 Business Segment & Geographic Overview
17.23.5 Key Market Developments
17.23.6 Key Strategies
17.24. SpotHero Inc
17.24.1 Overview
17.24.2 Offerings
17.24.3 Key Financials
17.24.4 Business Segment & Geographic Overview
17.24.5 Key Market Developments
17.24.6 Key Strategies
17.25. Swarco AG
17.25.1 Overview
17.25.2 Offerings
17.25.3 Key Financials
17.25.4 Business Segment & Geographic Overview
17.25.5 Key Market Developments
17.25.6 Key Strategies
17.26. Urbiotica SL
17.26.1 Overview
17.26.2 Offerings
17.26.3 Key Financials
17.26.4 Business Segment & Geographic Overview
17.26.5 Key Market Developments
17.26.6 Key Strategies
