Market Research Report
Smart Parking Systems - Hardware, Software, Services, and Smart City Applications: Global Market Analysis and Forecast
|Published by||Guidehouse Insights (formerly Navigant Research)||Product code||271126|
|Published||Content info||57 Pages; 29 Tables, Charts & Figures
Delivery time: 1-2 business days
|Smart Parking Systems - Hardware, Software, Services, and Smart City Applications: Global Market Analysis and Forecast|
|Published: September 10, 2019||Content info: 57 Pages; 29 Tables, Charts & Figures||
The smart parking market continues to be a dynamic area ripe for continued deployment of existing technology and disruptive new applications. Navigant Research estimates the smart parking market globally will be increasingly driven by software solutions. This growth is anticipated to be driven largely by demand in North America, Europe, and Asia Pacific. Annual deployments of global on-street, individually monitored smart parking spaces are anticipated to more than triple between 2019 and 2028.
A number of trends have emerged as market drivers. These include reductions in the amount of infrastructure required for sensor networks, the deployment of computer vision based camera systems, and increased capability in Internet of Things (IoT) and cloud-based systems. Additionally, the world's population is continuing to become more urban, wealthier, and more capable of owning motor vehicles. These factors place more strain on existing parking capabilities and are increasing demand for more intelligently managed systems. In its place, computer vision, machine learning, predicative analytics, and artificial intelligence (AI) are being brought to bear on parking management.
This Navigant Research report analyzes the evolution of smart parking technology and the smart parking systems market, with a particular focus on on-street parking. The study analyzes drivers for the transformation in parking, including financial, environmental, and economic factors, and assesses approaches to parking in different regions. Global market forecasts of smart parking systems hardware, software, and services extend through 2028. The report also examines significant smart parking projects and case studies of major deployments.