PUBLISHER: Blueweave Consulting | PRODUCT CODE: 1186482
PUBLISHER: Blueweave Consulting | PRODUCT CODE: 1186482
India Smart Parking Systems Market, By Type ; By Technology (Internet of Things, Ultrasonic RFID); By Application ; By Hardware ; By Software ; By Service ; By End User, Trend Analysis, Competitive Landscape & Forecast, 2019-2029
India Smart Parking Systems Market to Expand at Significant CAGR of 11.6% during 2023-2029.
India smart parking systems market is flourishing because of rapid urbanization and space constraints, increasing demand for personal vehicles, rising vehicle ownership, and growing adoption of IoT in parking management.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, expects India smart parking systems market size to expand at a CAGR of 11.6% during the forecast period between 2023 and 2029. Major factors for the expansion of India smart parking systems market include increasing traffic congestion, growing vehicle ownership, and limited parking space. The growing adoption of integrated automated solutions, as well as developments in wireless and digital payment technologies, are likely to boost market expansion. Machine-to-machine (M2M) connectivity, data analytics, improved sensors, smart parking meters, and mobile applications for slot bookings and online payments are among the technologies utilized to create effective solutions. Also, the growing trend of city automation has increased reliance on many types of smart parking solutions, such as smart meters, navigation systems, analytics solutions, and engineering services. However, high cost of maintenance and investments is anticipated to restrain the market growth
India Smart Parking Systems Market - Overview
Smart parking is a safe parking option for conscientious drivers. Using embedded software and sensors, the sign or symbol shows the available parking spot on the lot. The driver is well familiar with the unoccupied area due to effective vehicle management. Smart parking gives drivers real-time information on the availability of adjacent parking spaces, allowing them to reserve a spot without having to wait. The smart parking system eliminates the need for guards who assist in finding a parking spot and collect tickets. The parking experience is being transformed by powerful technologies. Wireless sensor-based technology, dynamic messaging, parking sensors, and administrative facilities for examining parking data, providing real-time parking data to citizens, and quick management of parking zones are examples of innovations.
India Smart Parking Systems Market - By Service
Based on service, India smart parking systems market is divided into Consulting Services, Engineering Services, and Mobile App Parking Services. The engineering segment held the highest market share during forecast period. The increasing usage of autonomous and semi-autonomous vehicles, particularly in developed countries, can be credited to the segment's rise. These vehicles necessitate specially planned parking lots and garages, as well as robotic engineering facilities and custom-built instrumentation and solutions. Smart parking technologies are predicted to be widely adopted in the near future in autonomous vehicle production hubs. The consulting services segment is expected to dominate the market. These services address various management requirements, such as learning how to use a smart parking application or designing a parking space to meet the demands of the operator or user. These services also provide drivers and operators with convenient and hassle-free parking. Furthermore, these services offer simple operation, maintenance, and customization of facilities based on customer needs, as well as smart parking systems.
Impact of COVID -19 on India Smart Parking Systems Market
COVID-19 had a detrimental impact on smart parking systems market. As India enforced lockdown to restrict the spread of COVID-19, the revenue of smart parking systems has suffered. Several educational and work institutions, such as schools and universities, have transitioned to virtual learning, resulting in the disappearance of parking, transit, and other services. This has also resulted in monthly parking permit reimbursement. Similarly, the international travel ban has had a significant impact on smart parking firms. However, as the sector re-opens, smart parking systems are expected to regain demand due to the anticipated increase in private transportation utilization and its impact on the demand for smart parking space management.
Competitive Landscape:
Major players operating in India smart parking systems market include: Altiux Innovations, BMW Group, Continental AG, Daimler AG, Flowbird, Get My Parking, Mindteck, Park Smart, ParkingRhino, Robert Bosch GmbH, RR Parkon, Secure Parking, Siemens AG, Smart City Parking, Valeo S.A, ValetEZ, and Volkswagen AG. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics India Smart Parking Systems Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in India Smart Parking Systems Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
Table of Contents
1. Research Framework
- 1.1. Research Objective
- 1.2. Product Overview
- 1.3. Market Segmentation
2. Executive Summary
3. India Smart Parking Systems Market Insights
- 3.1. Industry Value Chain Analysis
- 3.2. DROC Analysis
- 3.2.1. Growth Drivers
- 3.2.1.1. Rising Urbanization and Space Concern
- 3.2.1.2. Increasing Demand for personal Vehicles
- 3.2.1.3. Growing Adoption of IOT in Parking
- 3.2.2. Restraints
- 3.2.2.1. High Cost of Maintenance and Investments
- 3.2.3. Opportunities
- 3.2.3.1. Technology Advancement
- 3.2.3.2. Construction of Smart Cities
- 3.2.4. Challenges
- 3.2.4.1. Availability of Support Infrastructure is Low
- 3.2.4.2. Lack of Skilled Personnel
- 3.2.1. Growth Drivers
- 3.3. Technology Advancements / Recent Developments
- 3.4. Regulatory Framework
- 3.5. Porter's Five Forces Analysis
- 3.5.1. Bargaining Power of Suppliers
- 3.5.2. Bargaining Power of Buyers
- 3.5.3. Threat of New Entrants
- 3.5.4. Threat of Substitutes
- 3.5.5. Intensity of Rivalry
4. India Smart Parking Systems Market Overview
- 4.1. Market Size & Forecast, 2019-2029
- 4.1.1. By Value (USD Million)
- 4.2. Market Share & Forecast
- 4.2.1. By Type
- 4.2.1.1. Off-Street
- 4.2.1.2. On-Street
- 4.2.2. By Technology
- 4.2.2.1. Internet of Things (IoT)
- 4.2.2.2. Ultrasonic
- 4.2.2.3. RFID
- 4.2.3. By Application
- 4.2.3.1. Security and Surveillance
- 4.2.3.2. Smart Payment Systems
- 4.2.3.3. Parking
- 4.2.3.4. License Plate Recognition
- 4.2.4. By Hardware
- 4.2.4.1. Cameras and LPRs
- 4.2.4.2. Smart Meters
- 4.2.4.3. Signage
- 4.2.4.4. Parking gate
- 4.2.4.5. Others
- 4.2.5. By Software
- 4.2.5.1. Parking Guidance System
- 4.2.5.2. Analytics Solution
- 4.2.6. By Service
- 4.2.6.1. Consulting Services
- 4.2.6.2. Engineering Services
- 4.2.6.3. Mobile App Parking Services
- 4.2.7. By End User
- 4.2.7.1. Commercial
- 4.2.7.2. Government
- 4.2.7.3. Transport Transit
- 4.2.1. By Type
5. Competitive Landscape
- 5.1. List of Key Players and Their Offerings
- 5.2. India Smart Parking Systems Company Market Share Analysis, 2022
- 5.3. Competitive Benchmarking, By Operating Parameters
- 5.4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
6. Impact of Covid-19 on India Smart Parking Systems Market
7. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)
- 7.1. Altiux Innovations
- 7.2. BMW Group
- 7.3. Continental AG
- 7.4. Daimler AG
- 7.5. Flowbird
- 7.6. Get My Parking
- 7.7. Mindteck
- 7.8. Park Smart
- 7.9. ParkingRhino
- 7.10. Robert Bosch GmbH
- 7.11. RR Parkon
- 7.12. Secure Parking
- 7.13. Siemens AG
- 7.14. Smart City Parking
- 7.15. Valeo S.A
- 7.16. ValetEZ
- 7.17. Volkswagen AG
- 7.18. Other Prominent Players
8. Key Strategic Recommendations
9. Research Methodology
- 9.1. Qualitative Research
- 9.1.1. Primary & Secondary Research
- 9.2. Quantitative Research
- 9.3. Market Breakdown & Data Triangulation
- 9.3.1. Secondary Research
- 9.3.2. Primary Research
- 9.4. Breakdown of Primary Research Respondents, By Region
- 9.5. Assumptions & Limitations
*Financial information of case of non-listed companies can be provided as per availability.
**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable.
List of Figures
- Figure 1 India Smart Parking Systems Segmentation
- Figure 2 India Smart Parking Systems Market Value Chain Analysis
- Figure 3 Company Market Share Analysis, 2022
- Figure 4 India Smart Parking Systems Market Size, By Value (USD Million), 2019-2029
- Figure 5 India Smart Parking Systems Market Share, By Type, By Value, 2019-2029
- Figure 6 India Smart Parking Systems Market Share, By Technology, By Value, 2019-2029
- Figure 7 India Smart Parking Systems Market Share, By Application, By Value, 2019-2029
- Figure 8 India Smart Parking Systems Market Share, By Hardware, By Value, 2019-2029
- Figure 9 India Smart Parking Systems Market Share, By Software, By Value, 2019-2029
- Figure 10 India Smart Parking Systems Market Share, By Service, By Value, 2019-2029
- Figure 11 India Smart Parking Systems Market Share, By End User, By Value, 2019-2029
List of Tables
- Table 1 India Smart Parking Systems Market Size, By Value (USD Million), 2019-2029
- Table 2 India Smart Parking Systems Market Share, By Type, By Value, 2019-2029
- Table 3 India Smart Parking Systems Market Share, By Technology, By Value, 2019-2029
- Table 4 India Smart Parking Systems Market Share, By Application, By Value, 2019-2029
- Table 5 India Smart Parking Systems Market Share, By Hardware, By Value, 2019-2029
- Table 6 India Smart Parking Systems Market Share, By Software, By Value, 2019-2029
- Table 7 India Smart Parking Systems Market Share, By Service, By Value, 2019-2029
- Table 8 India Smart Parking Systems Market Share, By End User, By Value, 2019-2029
- Table 9 Altiux Innovations Company Overview
- Table 10 Altiux Innovations Financial Overview
- Table 11 BMW Group Company Overview
- Table 12 BMW Group Financial Overview
- Table 13 Continental AG Company Overview
- Table 14 Continental AG Financial Overview
- Table 15 Daimler AG Company Overview
- Table 16 Daimler AG Financial Overview
- Table 17 Flowbird Company Overview
- Table 18 Flowbird Financial Overview
- Table 19 Get My Parking Company Overview
- Table 20 Get My Parking Financial Overview
- Table 21 Mindteck Company Overview
- Table 22 Mindteck Financial Overview
- Table 23 Park Smart Company Overview
- Table 24 Park Smart Financial Overview
- Table 25 ParkingRhino Company Overview
- Table 26 ParkingRhino Financial Overview
- Table 27 Robert Bosch GmbH Company Overview
- Table 28 Robert Bosch GmbH Financial Overview
- Table 29 RR Parkon Company Overview
- Table 30 RR Parkon Financial Overview
- Table 31 Secure Parking Company Overview
- Table 32 Secure Parking Financial Overview
- Table 33 Siemens AG Company Overview
- Table 34 Siemens AG Financial Overview
- Table 35 Smart City Parking Company Overview
- Table 36 Smart City Parking Financial Overview
- Table 37 Valeo S.A Company Overview
- Table 38 Valeo S.A Financial Overview
- Table 39 ValetEZ Company Overview
- Table 40 ValetEZ Financial Overview
- Table 41 Volkswagen AG Company Overview
- Table 42 Volkswagen AG Financial Overview
