New York, According to a new market research report published by Global Insight Services “Smart Parking Systems Market” is expected to grow by 2031. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
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A smart parking system is a network of sensors and other technology that helps drivers find available parking spaces and navigate to them. The sensors can be embedded in the pavement or mounted on poles, and they relay information to a central system that can be accessed by drivers through a smartphone app or other interface. The system can also provide real-time information on parking availability to traffic management systems, which can use the data to help direct drivers to areas with available parking.
Key Trends
Some key trends in Smart Parking Systems technology include:
1. The use of sensors to detect when a parking space is occupied and when it becomes available.
2. The use of real-time data to help drivers locate available parking spaces.
3. The use of dynamic pricing to encourage drivers to park in less busy times or areas.
Key Drivers
The key drivers of the Smart Parking Systems market are the need for efficient parking management and the need to reduce traffic congestion.
Smart Parking Systems help to optimize the use of parking resources and reduce traffic congestion by providing real-time information about available parking spaces.
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Market Segments
The smart parking system market is by solution, application, type, and region. By solution, the market is classified into hardware, and software. On the basis of type, it is bifurcated into on-street, and off-street. Based on application, it is divided into commercial, government, and transport. Region-wise, the market is segmented into North America, Europe, Asia Pacific, and Rest of the World.
Key Players
The global smart parking systems include players such as Amano McGann Inc, Continental AG, Dongyang Menics Co Ltd, IEM SA, IPS Group Inc, Klaus Multiparking Systems, Robert Bosch GmbH, Smart Parking Limited, Swarco AG, Urbiotica, and others.
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Reasons to buy Smart Parking Systems Market Report:
• Develop comprehensive understanding of market landscape – industry structure, value-chain, key players, trends, drivers, and challenges
• Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
• Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
• Develop business and M&A strategies through understanding of latest trends and emerging players in the market
• Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market
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