Smart Parking Systems Market, By Parking Site, By Components, By Application, By Region

Description

Smart Parking Systems Market is estimated to be valued at USD 11,432.0 Mn in 2025 and is expected to reach USD 42,319.9 Mn by 2032, growing at a compound annual growth rate (CAGR) of 20.6% from 2025 to 2032.

Report Coverage		Report Details
Base Year:	2024	Market Size in 2025:	USD 11,432.0 Mn
Historical Data for:	2020 To 2024	Forecast Period:	2025 To 2032
Forecast Period 2025 to 2032 CAGR:	20.60%	2032 Value Projection:	USD 42,319.9 Mn

The primary growth drivers for the market are the rising number of vehicles on the road and the resulting rise in traffic jams. Due to the various degrees of lockdowns enacted globally, the COVID-19 pandemic outbreak has had a negative effect on the market. The demand for smart parking systems market is anticipated to increase as the lockdowns are gradually removed, and sales of personal vehicles may also increase as a result of growing worries about safety in public transportation.

Market Dynamics:

Increasing demand for the internet of things (IoT) based technology is expected to drive market growth during the forecast period. IoT is a system of interrelated computer devices that are connected to the internet in order to perform various tasks without any human interference. Globally, the maximum time spent on searching for parking is a major issue which is solved by the University of Kansas by developing a project on smart parking solutions using IoT technology. Moreover, an IoT-based smart parking system helps to manage parking and reduces driver's time. For instance, in parking garages, the driver can identify the number of parking slots in the garage without entering the garage. This is done by receiving constant data information updates from sensors and providing this information to the driver.

Growing focus on improving customer service can present lucrative growth opportunities. Key companies in the market are focused on improving customer service. Better customer service leads to a longer operational cycle of smart parking systems market at lower costs. Moreover, during recent years, the number of electric vehicles has been increasing which is also aiding the demand for electric vehicle charging stations. Further, some companies are focusing on installing solar electric vehicle charging stations at parking spaces.

Key Developments

1. In 2020, Worldsensing launched fstpark2 which helps to enhanced on-street parking management system.

Key features of the study:

This report provides an in-depth analysis of the global smart parking systems market, and provides market size (US$ Million) and compound annual growth rate (CAGR%) for the forecast period 2025-2032, considering 2024 as the base year
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
It profiles key players in the global smart parking system based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies
Key companies covered as a part of this study include Streetline, Inc., Worldsensing, Smart Parking Limited, Swarco AG, Amano McGann, Skidata AG, Nedap N.V., ParkMe, Inc., Cisco System, Inc., Parkmobile LLC, and Urbiotica.
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
The global smart parking systems market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global smart parking system market.

Detailed Segmentation:

Global Smart Parking Systems Market, By Parking Site
- On-street
- Off-street
Global Smart Parking Systems Market, By Component
- Hardware
- Software
- Services
- System Integration and Installation
- Parking Management
- Maintenance
Global Smart Parking Systems Market, By Application
- Airports
- Government & municipalities
- Corporate & commercial Institutions
Global smart parking systems market, By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East
- Africa
Company Profiles
- Streetline, Inc.
- Worldsensing
- Smart Parking Limited
- Swarco AG
- Amano McGann
- Skidata AG
- Nedap N.V.
- ParkMe, Inc.
- Cisco System, Inc.
- Parkmobile LLC
- Urbiotica

Product Code: CMI4353

1. Research Objectives and Assumptions

Research Objectives
Assumptions
Abbreviations

2. Market Purview

Report Description
- Market Definition and Scope
Executive Summary
- Snapshot, By Parking Site
- Snapshot, By Component
- Snapshot, By Application
- Snapshot, By Region
Coherent Opportunity Map (COM)

3. Market Dynamics, Regulations, and Trends Analysis

Market Dynamics
- Drivers
- Restraints
- Opportunities
Impact Analysis
Key Highlights
Regulatory Scenario
Product launch/Approvals
PEST Analysis
PORTER's Analysis
Merger and Acquisition Scenario

4. Global Smart Parking Systems Market - Impact of Coronavirus (COVID-19) Pandemic

COVID-19 Epidemiology
Supply Side and Demand Side Analysis
Economic Impact

5. Global Smart Parking Systems Market, By Parking Site, 2020-2032, (US$ Mn)

Introduction
- Market Share Analysis, 2025 and 2032 (%)
- Y-o-Y Growth Analysis, 2021 - 2032
- Segment Trends
On-Street
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (US$ Mn)
Off-Street
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (US$ Mn)

6. Global Smart Parking Systems Market, By Component, 2020-2032, (US$ Mn)

Introduction
- Market Share Analysis, 2025 and 2032 (%)
- Y-o-Y Growth Analysis, 2021 - 2032
- Segment Trends
Hardware
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (US$ Million)
Software
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (US$ Million)
Services
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (US$ Million)
System Integration and Installation
Parking Management
Maintenance

7. Global Smart Parking Systems Market, By Application, 2020-2032, (US$ Mn)

Introduction
- Market Share Analysis, 2025 and 2032 (%)
- Y-o-Y Growth Analysis, 2021 - 2032
- Segment Trends
Airports
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (US$ Million)
Government & municipalities
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (US$ Million)
Corporate & Commercial Institutions
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (US$ Million)

8. Global Smart Parking Systems Market, By Region, 2020-2032, (US$ Mn)

Introduction
- Market Share Analysis, By Country, 2025 and 2032 (%)
- Y-o-Y Growth Analysis, For Country 2021-2032
- Country Trends
North America
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Parking Site, 2020-2032, (US$ Mn)
- Market Size and Forecast, and Y-o-Y Growth, By Component, 2020-2032, (US$ Mn)
- Market Size and Forecast, and Y-o-Y Growth, By Application, 2020-2032, (US$ Mn)
- Market Size and Forecast, and Y-o-Y Growth, By Country, 2020-2032, (US$ Mn)
Europe
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Parking Site, 2020-2032, (US$ Mn)
- Market Size and Forecast, and Y-o-Y Growth, By Component, 2020-2032, (US$ Mn)
- Market Size and Forecast, and Y-o-Y Growth, By Application, 2020-2032, (US$ Mn)
- Market Size and Forecast, and Y-o-Y Growth, By Country, 2020-2032, (US$ Mn)
Asia Pacific
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Parking Site, 2020-2032, (US$ Mn)
- Market Size and Forecast, and Y-o-Y Growth, By Component, 2020-2032, (US$ Mn)
- Market Size and Forecast, and Y-o-Y Growth, By Application, 2020-2032, (US$ Mn)
- Market Size and Forecast, and Y-o-Y Growth, By Country, 2020-2032, (US$ Mn)
Latin America
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Parking Site, 2020-2032, (US$ Mn)
- Market Size and Forecast, and Y-o-Y Growth, By Component, 2020-2032, (US$ Mn)
- Market Size and Forecast, and Y-o-Y Growth, By Application, 2020-2032, (US$ Mn)
- Market Size and Forecast, and Y-o-Y Growth, By Country, 2020-2032, (US$ Mn)
Middle East & Africa
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Parking Site, 2020-2032, (US$ Mn)
- Market Size and Forecast, and Y-o-Y Growth, By Component, 2020-2032, (US$ Mn)
- Market Size and Forecast, and Y-o-Y Growth, By Application, 2020-2032, (US$ Mn)
- Market Size and Forecast, and Y-o-Y Growth, By Country, 2020-2032, (US$ Mn)

9. Competitive Landscape

Streetline, Inc.
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
Worldsensing
- Company Highlights
- Product Portfolio
- Key Highlights
- Financial Performance
- Strategies
Smart Parking Limited
- Company Highlights
- Product Portfolio
- Key Highlights
- Financial Performance
- Strategies
Swarco AG
- Company Highlights
- Product Portfolio
- Key Highlights
- Financial Performance
- Strategies
Amano McGann
- Company Highlights
- Product Portfolio
- Key Highlights
- Financial Performance
- Strategies
Skidata AG
- Company Highlights
- Product Portfolio
- Key Highlights
- Financial Performance
- Strategies
Nedap N.V.
- Company Highlights
- Product Portfolio
- Key Highlights
- Financial Performance
- Strategies
ParkMe, Inc.
- Company Highlights
- Product Portfolio
- Key Highlights
- Financial Performance
- Strategies
Cisco system, Inc.
- Company Highlights
- Product Portfolio
- Key Highlights
- Financial Performance
- Strategies
Urbiotica
- Company Highlights
- Product Portfolio
- Key Highlights
- Financial Performance
- Strategies
Analyst Views

10. Section

Research Methodology
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