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1053348

Smart Parking Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Published: | IMARC Services Private Limited | 136 Pages | Delivery time: 2-3 business days

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Smart Parking Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027
Published: January 10, 2022
IMARC Services Private Limited
Content info: 136 Pages
Delivery time: 2-3 business days
  • Description
  • Table of Contents
  • List of Tables

The global smart parking market reached a value of US$ 3.97 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 8.52 Billion by 2027, exhibiting a CAGR of 13.4% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.

A smart parking system (SPS) optimizes parking spaces through automated access control systems, parking guidance systems (PGS), parking reserving barriers and ticketing systems. It utilizes mechanical arrangements to transport cars from one parking space to another and eliminate the wasted space in a multistory or single-story garage. It uses vehicle counting equipment, video cameras, automatic number plate recognition readers (ANPR) and pavement sensors to determine the occupancy of a parking lot and transmit the data to the control center in real time. It aims to assist in the smooth flow of traffic in congested areas and provide a systematic parking operation. It also guides users to available parking slots by navigating them via a smartphone application. When positioned as a system, smart parking saves time, decreases management costs and limits the cases of illegal parking in an area.

Rapidly increasing traffic congestion leading to limited space for smooth flow of traffic is the key factor contributing to the market growth. With growing urbanization and rising disposable incomes, there has been a rise in the preference for comfortable and luxurious cars. This has escalated the problem of on-road car parking, consequently resulting in the demand for smart parking systems. Additionally, an increase in governmental regulations for the development of green and smart cities, industrial parks and economic zones to reduce carbon dioxide emissions have also contributed to the demand for SPS. Moreover, the system is extremely convenient for the users as it reduces unnecessary paper consumption by replacing cash payments for parking with digital invoices sent directly on the user's smartphone. Furthermore, the thriving international tourism industry is expected to drive the market as these systems can aid in smooth parking operations in popular and congested tourist destinations.

IMARC Group's latest report provides a deep insight into the global smart parking systems market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter's five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the smart parking systems market in any manner.

Key Market Segmentation:

  • IMARC Group provides an analysis of the key trends in each sub-segment of the global smart parking market, along with forecasts at the global and regional level from 2022-2027. Our report has categorized the market based on system, technology, component, solution, vertical type and parking site.

Breakup by System:

  • Guided Park Assist System
  • Smart Park Assist System

Breakup by Technology:

  • Ultrasonic Sensors
  • Radar Sensors
  • Image Sensors
  • IoT
  • Others
  • Currently, ultrasonic sensors represent the leading type among all the technologies.

Breakup by Component:

  • Hardware
  • Software
  • Services
  • On the basis of component, hardware segment currently holds the majority of the market share.

Breakup by Solution:

  • Security and Surveillance
  • Valet and Parking Reservation
  • License Plate Recognition
  • Among all the solution types, security and surveillance represents the leading category holding the largest share.

Breakup by Vertical Type:

  • Government and Municipalities
  • Commercial Institutions
  • Transport Facilities
  • Among all the verticals, comercial institutions currently represent the leading type accounting for the majority of the market share.

Breakup by Parking Site:

  • Off-Street Parking
  • On-Street Parking
  • Based on parking site, off-street parking currently accounts for the highest market share.

Breakup by Region:

  • North America
  • Europe
  • Asia Pacific
  • Middle East and Africa
  • Latin America
  • On regional basids, North America represents the largest market and holds the largest market share.

Competitive Landscape:

  • The report has also analysed the competitive landscape of the market with some of the key players being Valeo S.A., Continental AG, Robert Bosch GmbH, Kapsch TrafficCom AG, Cubic Corporation, TKH Group-Park Assist., Streetline Inc., Cisco Systems Inc., ParkMe Inc., Urbiotica, Skidata AG, Amano McGann Inc., Swarco AG, Smart Parking Ltd, Nedap N.V., Delphi Automotive PLC, Aisin Seiki Co. Ltd, Siemens AG, Xerox Corporation, etc. Key Question Answered in this Report
  • 1. What is the global smart parking market growth?
  • 2. What are the global smart parking market drivers?
  • 3. What are the key industry trends in the global smart parking market?
  • 4. What is the impact of COVID-19 on the global smart parking market?
  • 5. What is the global smart parking market breakup by technology?
  • 6. What is the global smart parking market breakup by component?
  • 7. What is the global smart parking market breakup by solution?
  • 8. What is the global smart parking market breakup by vertical type?
  • 9. What is the global smart parking market breakup by parking site?
  • 10. What are the major regions in the global smart parking market?
  • 11. Who are the key companies/players in the global smart parking market?
Product Code: SR0122A95_Report

Table of Contents

1 Preface

2 Scope and Methodology

  • 2.1 Objectives of the Study
  • 2.2 Stakeholders
  • 2.3 Data Sources
    • 2.3.1 Primary Sources
    • 2.3.2 Secondary Sources
  • 2.4 Market Estimation
    • 2.4.1 Bottom-Up Approach
    • 2.4.2 Top-Down Approach
  • 2.5 Forecasting Methodology

3 Executive Summary

4 Introduction

  • 4.1 Overview
  • 4.2 Key Industry Trends

5 Global Smart Parking Market

  • 5.1 Market Overview
  • 5.2 Market Performance
  • 5.3 Impact of COVID-19
  • 5.4 Market Breakup by System
  • 5.5 Market Breakup by Technology
  • 5.6 Market Breakup by Component
  • 5.7 Market Breakup by Solution
  • 5.8 Market Breakup by Vertical Type
  • 5.9 Market Breakup by Parking Site
  • 5.10 Market Breakup by Region
  • 5.11 Market Forecast

6 Market Breakup by System

  • 6.1 Guided Park Assist System
    • 6.1.1 Market Trends
    • 6.1.2 Market Forecast
  • 6.2 Smart Park Assist System
    • 6.2.1 Market Trends
    • 6.2.2 Market Forecast

7 Market Breakup by Technology

  • 7.1 Ultrasonic Sensors
    • 7.1.1 Market Trends
    • 7.1.2 Market Forecast
  • 7.2 Radar Sensors
    • 7.2.1 Market Trends
    • 7.2.2 Market Forecast
  • 7.3 Image Sensors
    • 7.3.1 Market Trends
    • 7.3.2 Market Forecast
  • 7.4 IoT
    • 7.4.1 Market Trends
    • 7.4.2 Market Forecast
  • 7.5 Others
    • 7.5.1 Market Trends
    • 7.5.2 Market Forecast

8 Market Breakup by Component

  • 8.1 Hardware
    • 8.1.1 Market Trends
    • 8.1.2 Market Forecast
  • 8.2 Software
    • 8.2.1 Market Trends
    • 8.2.2 Market Forecast
  • 8.3 Services
    • 8.3.1 Market Trends
    • 8.3.2 Market Forecast

9 Market Breakup by Solution

  • 9.1 Security and Surveillance
    • 9.1.1 Market Trends
    • 9.1.2 Market Forecast
  • 9.2 Valet and Parking Reservation
    • 9.2.1 Market Trends
    • 9.2.2 Market Forecast
  • 9.3 License Plate Recognition
    • 9.3.1 Market Trends
    • 9.3.2 Market Forecast

10 Market Breakup by Vertical Type

  • 10.1 Government and Municipalities
    • 10.1.1 Market Trends
    • 10.1.2 Market Forecast
  • 10.2 Commercial Institutions
    • 10.2.1 Market Trends
    • 10.2.2 Market Forecast
  • 10.3 Transport Facilities
    • 10.3.1 Market Trends
    • 10.3.2 Market Forecast

11 Market Breakup by Parking Site

  • 11.1 Off-Street Parking
    • 11.1.1 Market Trends
    • 11.1.2 Market Forecast
  • 11.2 On-Street Parking
    • 11.2.1 Market Trends
    • 11.2.2 Market Forecast

12 Market Breakup by Region

  • 12.1 North America
    • 12.1.1 Market Trends
    • 12.1.2 Market Forecast
  • 12.2 Europe
    • 12.2.1 Market Trends
    • 12.2.2 Market Forecast
  • 12.3 Asia Pacific
    • 12.3.1 Market Trends
    • 12.3.2 Market Forecast
  • 12.4 Middle East and Africa
    • 12.4.1 Market Trends
    • 12.4.2 Market Forecast
  • 12.5 Latin America
    • 12.5.1 Market Trends
    • 12.5.2 Market Forecast

13 SWOT Analysis

  • 13.1 Overview
  • 13.2 Strengths
  • 13.3 Weaknesses
  • 13.4 Opportunities
  • 13.5 Threats

14 Value Chain Analysis

15 Porter's Five Forces Analysis

  • 15.1 Overview
  • 15.2 Bargaining Power of Buyers
  • 15.3 Bargaining Power of Suppliers
  • 15.4 Degree of Competition
  • 15.5 Threat of New Entrants
  • 15.6 Threat of Substitutes

16 Price Analysis

17 Competitive Landscape

  • 17.1 Market Structure
  • 17.2 Key Players
  • 17.3 Profiles of Key Players
    • 17.3.1 Valeo S.A.
    • 17.3.2 Continental AG
    • 17.3.3 Robert Bosch GmbH
    • 17.3.4 Kapsch TrafficCom AG
    • 17.3.5 Cubic Corporation
    • 17.3.6 TKH Group-Park Assist.
    • 17.3.7 Streetline Inc.
    • 17.3.8 Cisco Systems Inc.
    • 17.3.9 ParkMe Inc.
    • 17.3.10 Urbiotica
    • 17.3.11 Skidata AG
    • 17.3.12 Amano McGann Inc.
    • 17.3.13 Swarco AG
    • 17.3.14 Smart Parking Ltd
    • 17.3.15 Nedap N.V.
    • 17.3.16 Delphi Automotive PLC
    • 17.3.17 Aisin Seiki Co. Ltd
    • 17.3.18 Siemens AG
    • 17.3.19 Xerox Corporation

List of Figures

  • Figure 1: Global: Smart Parking Market: Major Drivers and Challenges
  • Figure 2: Global: Smart Parking Market: Sales Value (in Billion US$), 2016-2021
  • Figure 3: Global: Smart Parking Market: Breakup by System (in %), 2021
  • Figure 4: Global: Smart Parking Market: Breakup by Technology (in %), 2021
  • Figure 5: Global: Smart Parking Market: Breakup by Component (in %), 2021
  • Figure 6: Global: Smart Parking Market: Breakup by Solution (in %), 2021
  • Figure 7: Global: Smart Parking Market: Breakup by Vertical Type (in %), 2021
  • Figure 8: Global: Smart Parking Market: Breakup by Parking Site (in %), 2021
  • Figure 9: Global: Smart Parking Market: Breakup by Region (in %), 2021
  • Figure 10: Global: Smart Parking Industry: SWOT Analysis
  • Figure 11: Global: Smart Parking Industry: Value Chain Analysis
  • Figure 12: Global: Smart Parking Industry: Porter's Five Forces Analysis
  • Figure 13: Global: Smart Parking Market Forecast: Sales Value (in Billion US$), 2022-2027
  • Figure 14: Global: Smart Parking (Guided Park Assist System) Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 15: Global: Smart Parking (Guided Park Assist System) Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 16: Global: Smart Parking (Smart Park Assist System) Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 17: Global: Smart Parking (Smart Park Assist System) Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 18: Global: Smart Parking (Ultrasonic Sensors) Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 19: Global: Smart Parking (Ultrasonic Sensors) Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 20: Global: Smart Parking (Radar Sensors) Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 21: Global: Smart Parking (Radar Sensors) Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 22: Global: Smart Parking (Image Sensors) Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 23: Global: Smart Parking (Image Sensors) Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 24: Global: Smart Parking (IoT) Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 25: Global: Smart Parking (IoT) Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 26: Global: Smart Parking (Other Technologies) Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 27: Global: Smart Parking (Other Technologies) Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 28: Global: Smart Parking (Hardware) Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 29: Global: Smart Parking (Hardware) Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 30: Global: Smart Parking (Software) Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 31: Global: Smart Parking (Software) Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 32: Global: Smart Parking (Services) Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 33: Global: Smart Parking (Services) Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 34: Global: Smart Parking (Security and Surveillance) Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 35: Global: Smart Parking (Security and Surveillance) Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 36: Global: Smart Parking (Valet and Parking Reservation) Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 37: Global: Smart Parking (Valet and Parking Reservation) Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 38: Global: Smart Parking (License Plate Recognition) Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 39: Global: Smart Parking (License Plate Recognition) Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 40: Global: Smart Parking (Government and Municipalities) Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 41: Global: Smart Parking (Government and Municipalities) Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 42: Global: Smart Parking (Commercial Institutions) Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 43: Global: Smart Parking (Commercial Institutions) Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 44: Global: Smart Parking (Transport Facilities) Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 45: Global: Smart Parking (Transport Facilities) Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 46: Global: Smart Parking (Off-Street Parking) Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 47: Global: Smart Parking (Off-Street Parking) Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 48: Global: Smart Parking (On-Street Parking) Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 49: Global: Smart Parking (On-Street Parking) Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 50: North America: Smart Parking Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 51: North America: Smart Parking Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 52: Europe: Smart Parking Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 53: Europe: Smart Parking Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 54: Asia Pacific: Smart Parking Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 55: Asia Pacific: Smart Parking Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 56: Middle East and Africa: Smart Parking Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 57: Middle East and Africa: Smart Parking Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 58: Latin America: Smart Parking Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 59: Latin America: Smart Parking Market Forecast: Sales Value (in Million US$), 2022-2027

List of Tables

  • Table 1: Global: Smart Parking Market: Key Industry Highlights, 2021 and 2027
  • Table 2: Global: Smart Parking Market Forecast: Breakup by System (in Million US$), 2022-2027
  • Table 3: Global: Smart Parking Market Forecast: Breakup by Technology (in Million US$), 2022-2027
  • Table 4: Global: Smart Parking Market Forecast: Breakup by Component (in Million US$), 2022-2027
  • Table 5: Global: Smart Parking Market Forecast: Breakup by Solution (in Million US$), 2022-2027
  • Table 6: Global: Smart Parking Market Forecast: Breakup by Vertical Type (in Million US$), 2022-2027
  • Table 7: Global: Smart Parking Market Forecast: Breakup by Parking Site (in Million US$), 2022-2027
  • Table 8: Global: Smart Parking Market Forecast: Breakup by Region (in Million US$), 2022-2027
  • Table 9: Global: Smart Parking Market Structure
  • Table 10: Global: Smart Parking Market: Key Players