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(Hosting-NewsWire.com, June 13, 2018 ) Global smart parking systems market is expected to grow from US$ 398.6 million in 2016 to US$ 1462.3 million by 2025 at a CAGR of 15.7% between 2017 and 2025.
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Smart parking systems market address critical parking issues, by making it easier for drivers to park their vehicles without wasting time and fuel. These systems avail their users with real-time information regarding available parking spaces across the city, thereby reducing the traffic congestion caused due to mismanaged parking spaces. Amano Mcgann, Smart Parking Ltd., Xerox, Cisco and Urbiotica are among the major players operating in smart parking systems market. North America, being a technologically advanced region along with high number vehicle population and congestion in cities, has witnessed highest adoptions of smart parking systems by government & municipalities of various cities. Europe is the second largest adopter of smart parking systems, while APAC region with growing urbanization and increasing technological trends is anticipated to be the fastest growing region globally.
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The report aims to provide an overview of global smart parking systems market with detailed market segmentation. Also, it analyzes the current smart parking systems market scenario and forecasts the market till 2025. The report covers market dynamics effecting the market during the forecast period. Furthermore, the report analyzes the competitive scenario, geographic trends, and opportunities in the markets with respect to all geographic regions. The report also includes the detailed company profiles of the key players in the market along with their market strategies. The report also provide porters five forces analysis and SWOT analysis for all company profiled in the report.
The smart parking systems market report focuses on an in-depth segmentation of this market based by parking site, components and end-user industry. The geographic segmentation of the report covers six major regions including; North Americas, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America (SA). The regional market has been further bifurcated by respective countries. By end-user vertical transport facilities sector accounted for the largest share of the smart parking systems market in 2016; whereas, APAC region is expected to grow at the highest CAGR during the forecast period.
North America is one of the prominent regions in smart parking systems market which will contribute highest revenue globally due to technological developments and considerable implementation of smart parking technology in different end users segment. Rapidly growing economies in Asia-Pacific (APAC) with significant growth in IT sector will pave the path for increasing adoption and propel the market for smart parking systems. The region is expected to lead the market with highest CAGR during the forecast period.
Some of the key players of smart parking systems market include
Smart Parking Ltd.
Cisco Systems Inc.
Amano Mcgann, Inc.
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List of companies
Amano McGann, Inc.
Smart Parking Ltd.
10 Smart Parking Systems Market Revenue and Forecasts to 2025 Geographical Analysis
10.1 North America
10.1.1 North America Smart Parking Systems market overview
10.1.2 North America Smart Parking Systems market forecast and analysis
10.1.2.1 North America market forecast and analysis By Countries
10.1.2.1.1 US market
10.1.2.1.2 Canada market
10.1.2.1.3 Mexico market
10.1.2.2 North America market forecast and analysis By Parking Sites
10.1.2.3 North America market forecast and analysis By Components
10.1.2.4 North America market forecast and analysis By End User Industry
4 Smart Parking Systems Market Key Industry Dynamics
4.1 Key Market Drivers
4.2 Key Market Restraints
4.3 Key Market Opportunities
4.4 Future Trends
5 Smart Parking Systems Market Analysis- Five Forces Analysis
5.1 Porters Five Forces Analysis
5.1.1 Bargaining Power of Suppliers
5.1.2 Bargaining Power of Buyers
5.1.3 Threat of Substitutes
5.1.4 Threat of New Entrants
5.1.5 Degree of Competition
6 Smart Parking Systems Market Analysis- Competitive Landscape
6.1 Global Smart Parking Systems Market Overview
6.2 Global Smart Parking Systems Market forecast and analysis
6.3 Global Smart Parking Systems Market Key Players by Product Portfolio and Region, 2015
6.4 Global Smart Parking Systems Market, Key Players by Region
7 Smart Parking systems Market Revenue and Forecasts to 2025 Parking sites
7.2 Parking Sites market forecast and analysis
7.3 On Street Parking Market
7.3.2 On Street Parking market forecast and analysis
7.4 Off Street Parking Market
7.4.2 Off Street Parking market forecast and analysis
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