According to a new market research study titled ‘Smart Parking System Market to 2025 – Global Analysis and Forecast by parking site (On-street & Off-street, components (Hardware, Software & Services) and end-user industry (Commercial Institute, Industrial Institute, Government & Municipality and Corporate Institutes)’, the global smart parking systems market was valued at US$ 66.56 Mn in 2015 and is estimated to reach US$ 415.25 Mn by 2025. The report highlights the trends prevalent in the global market and the factors driving the market along with those that act as deterrents to its growth.
IoT is a network of physical objects connected to each other through sensors, electronic devices and software that enables the collection and exchange of data. The IoT trend has been transforming various traditional processes by making them smart, smart parking being one of them. Smart parking is an emerging IoT based technology and is expected to be adopted by most of the major cities globally in order to increase the probability of sustainable development. Smart parking systems provide its users with real-time information to help them find a parking space conveniently, thereby saving fuel, time and effort.
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The smart parking system market is broadly segmented into parking site, components and end-user industry. Furthermore, the parking site is bifurcated into on-street parking and off-street parking. Components segment is sub divided into hardware, software and services. The end-user segment comprises of transport facilities, commercial institution, government & municipalities and corporate institution. The commercial institutes are predicted to dominate the market in the coming years. The market region wise is segmented in North America, Europe, Middle East & Africa, South America and Asia Pacific.
There are number of countries within the Asia Pacific, MEA and South America that are coming up with smart city initiatives. A smart city is also a concept based upon IoT to make cities smarter by providing smarter solution for a sustainable future growth. For instance, in 2015, the Government of India launched the Smart Cities Mission, which stated development of 100 smart cities under the government’s supervision. Similar urban renewal and retrofitting programs have been launched globally to develop smart cities and to make them citizen friendly and sustainable. The government will be collaborating with state governments to implement the program.
Several advanced countries like Australia, the US and Japan etc. are more inclined towards development of off-street parking systems, as the infrastructural density is low in these countries, which allows for many parking spaces. Also, the demand for pedestrian walkaways, as well as separate bike lanes and bus lanes, has increased pressure on on-street parking spaces to be trimmed down in size and number. Furthermore, traffic congestion in CBDs is another problem for on-street parking operators, as there has been increased demand for efficient off-street parking systems.
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Some of the major players in the market are Amano McCann, Inc., Smart Parking Ltd., Urbiotica, Cisco Systems, Inc., Nedap NV, SKIDATA AG, Kapsch, Xerox Corp. and Parkmobile LLC among others.
Few Points from List of Table and Figures:
Table 1: Smart Parking Systems Market – Porters Five Forces Analysis
Table 2: Global Market Sales Revenue (US$ Mn), 2014 – 2025
Table 3: Smart Parking Systems Market – List of Key Players by Components Provided
Table 3: Key Players by Region
Table 4: North America Smart Parking Systems Revenue and Forecasts to 2025 – Parking Site (US$ Mn)
Table 5: North America Revenue and Forecasts to 2025 – Components (US$ Mn)
Table 6: North America Revenue and Forecasts to 2025 – End-user Industry (US$ Mn)
Table 7: Europe Smart Parking Systems Revenue and Forecasts to 2025 – Parking Site (US$ Mn)
Table 8: Europe Revenue and Forecasts to 2025 – Components (US$ Mn)
Table 9: Europe Revenue and Forecasts to 2025 – End-user Industry (US$ Mn)
Table 10: Asia Pacific Smart Parking Systems Revenue and Forecasts to 2025 – Parking Site (US$ Mn)
Table 11: Asia Pacific Revenue and Forecasts to 2025 – Components (US$ Mn)
Table 12: Asia Pacific Revenue and Forecasts to 2025 – End-user Industry (US$ Mn)
Table 13: Middle East & Africa Smart Parking Systems Revenue and Forecasts to 2025 – Parking Site (US$ Mn)
Table 14: Middle East & Africa Revenue and Forecasts to 2025 – Components (US$ Mn)
Table 15: Middle East & Africa Revenue and Forecasts to 2025 – End-user Industry (US$ Mn)
Table 16: South America Smart Parking Systems Revenue and Forecasts to 2025 – Parking Site (US$ Mn)
Table 17: South America Revenue and Forecasts to 2025 – Components (US$ Mn)
Table 18: South America Revenue and Forecasts to 2025 – End-user Industry (US$ Mn)
Table 19: Amano McGann, Inc. Key Facts, 2015
Table 20: Amano McGann, Inc. SWOT Analysis
Table 21: Cisco Systems, Inc., Key Facts, 2015
Table 22: Cisco Systems, Inc., SWOT Analysis
Table 23: Smart Parking Ltd., Key Facts, 2015
Table 24: Smart Parking Ltd., SWOT Analysis
Table 25: Urbiotica, Key Facts, 2015
Figure 1: Smart Parking Systems Market, Global Sales Revenue (US$ Mn) 2015 & 2025
Figure 2: Global Smart Parking Systems Market Segmentation
Figure 3: Global Market Segmentation
Figure 4: Global Market – Value Chain Analysis
Figure 5: Global IoT Value Addition by 2020
Figure 6: Smart City Smart Infrastructure Investment by Industry, World Market: 2010-2020
Figure 7: Number of Smart Cities Worldwide: Current & Expected
Figure 8: Number of Cities Worldwide with Smart Technologies in Three or More Functional Areas; Segmented by Sectors Containing Smart Operations
Figure 9: Growing Urbanization Ratio
Figure 10: Management Triangle
Figure 11: Global Smart Parking Systems Market – Value Chain Analysis
Figure 12: Levels of Product Principle
Figure 13: Global Smart Car Market (Million Units)
Figure 14: Smart Parking Systems Market – Porters Five Forces Analysis
Figure 15: Global Smart Parking Systems Market Sales Revenue (US$ Mn), 2014 – 2025
Figure 17: Global Market Breakdown by Parking Site, 2015 (%)
Figure 18: Global Market Breakdown by Parking Site, 2025 (%)
Figure 19: Global Off-Street Smart Parking Systems Market Revenue and Forecasts to 2025 (US$ Mn)
Figure 20: Global On-Street Market Revenue and Forecasts to 2025 (US$ Mn)
Figure 21: Global Smart Parking Systems Market Breakdown by Components, 2015 (%)
Figure 22: Global Market Breakdown by Components, 2025 (%)
Figure 23: Global Market Revenue and Forecasts to 2025 (US$ Mn), By Hardware Components
Figure 24: Global Market Revenue and Forecasts to 2025 (US$ Mn), By Software Components
Figure 25: Global Market Revenue and Forecasts to 2025 (US$ Mn), By Services
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