Global Smart Parking Market Research Key Players, Industry Overview and Forecasts to 2026

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To understand the market in depth, market research report is the perfect solution. This lets you know that how the market is going to perform in the forecast years by giving you information about market definition, classifications, applications, and engagements. Market segmentation is also covered in detail by considering several aspects that is sure to help businesses out there. A team of multi-lingual analysts and project managers is skilled to serve clients on every strategic aspect including product development, key areas of development, application modelling, use of technologies, the acquisition strategies, exploring niche growth opportunities and new markets.

The Global Smart Parking Market report puts forth a range of segments linked to Automotive industry and market with comprehensive research and analysis. These involve industry outlook with respect to critical success factors (CSFs), industry dynamics that primarily covers drivers and restraints, market segmentation & value chain analysis, key opportunities, application and technology outlook, regional or geographical insight, country-level analysis. This list can be elaborated with key company profiles, competitive landscape, and company market share analysis. All the data, figures and information is backed up by authentic analysis tools which include SWOT analysis and Porter’s Five Forces analysis. So, take your business to the peak level of growth with this comprehensive market research report.

Global Smart Parking Market, By System Type (Guided Park Assist, Smart Park Assist), Component (Parking Sensors, Steering Angle Sensors, ECU, Display Unit), Sensor Technology (Ultrasonic Sensor, Radar Sensor, Image Sensor), Vertical (Government, Commercial), Solution (Security & Surveillance, Parking Reservation Management, Valet Parking Management, License Plate Recognition), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)– Industry Trends and Forecast to 2026.

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Market Analysis: Global Smart Parking Market 

Global Smart Parking Market is expected to rise from its initial estimated value of USD 3.38 billion in 2018 to an estimated value of USD 12.60 billion by 2026, registering a CAGR of 17.85% in the forecast period of 2019-2026. This rise in market value can be attributed to the increasing concerns of parking amid growth in the number of vehicles.

Key Market Competitors: Global Smart Parking Market 

Few of the major competitors currently working in the smart parking market are Robert Bosch GmbH, Continental AG, Valeo, Delphi Technologies, AISIN SEIKI Co. Ltd., Siemens AG, Cubic Corporation, Amano Corporation, Kapsch TrafficCom AG, AppyParking, Smart Parking, TKH GROUP, and Nedap.

Market Definition: Global Smart Parking Market 

Smart parking is a parking technology that involves usage of combined resources of modern technology and human resources so that there is least amount of resources consumed and there is an increased efficiency. Smart parking connects with the different sensors situated on the street and on the parking infrastructures and connects with the vehicle sensors, using the combined data to safely park the vehicles, without any collision.

Market Drivers:

  • Rise in number of vehicles leading to concerns regarding the solutions for parking is expected to drive the market growth
  • Growing demand and adoption of IoT applied technology is also expected to be driving the market growth

Market Restraints:

  • High cost of implementing and subsequent increase in cost of the vehicles is expected to act as a restraint to the market growth
  • Lack of awareness regarding the benefits of smart parking is also expected to act as a restraint to the market growth

Key Developments in the Market: 

  • In January 2019, China launched a first of its kind diagonal smart parking garage that drives and allocates the vehicles to a unique spot. In this smart parking system, the driver parks the car on a driving platform and the platform parks the vehicles in a free parking spot, retrieving the vehicle afterwards whenever the driver requires it.
  • In November 2016, Thai government announced their plans to adopt the 4.0 initiative with Bosch backing this initiative and planning to roll out automated valet parking based on this interconnection.

Competitive Analysis: Global Smart Parking Market 

Global smart parking market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of smart parking market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.

Table of Contents: Global Smart Parking Market

Part 01: Executive Summary

Part 02: Scope of The Report

Part 03: Research Methodology

Part 04: Market Landscape

Part 05: Pipeline Analysis

Part 06: Market Sizing

Part 07: Five Forces Analysis

Part 08: Market Segmentation

Part 09: Customer Landscape

Part 10: Regional Landscape

Part 11: Decision Framework

Part 12: Drivers And Challenges

Part 13: Market Trends

Part 14: Vendor Landscape

Part 15: Vendor Analysis

Part 16: Appendix

FREE Table Of Contents Is Available [email protected]https://www.databridgemarketresearch.com/toc?dbmr=global-smart-parking-market

This reports includes the following deliverable

  • Macro Indicator Analysis
  • Global Smart Parking Market Overview
  • Global Smart Parking Market Dynamics, Drivers, Restraints, Opportunities and Challenges
  • Global Smart Parking Market Competitive Landscape, Product Launches and Pipeline Analysis
  • Value Chain Analysis
  • Market Mergers, Acquisitions and Agreements
  • Company Profiles

This report scope includes a holistic study of the current dynamics of the market, industry growth and restraints of the Global Smart Parking Market. It provides the market forecast to 2025, recent developments in the market and pipeline analysis of the major players. The report also includes a review of micro and macro forecasts, new entrant strategies, and market penetration strategies with a comprehensive value chain analysis.

Key Questions Answered in This Report

  • What will the Global Smart Parking Market size be in 2025 and what will the growth rate be?
  • What are the key market trends?
  • What is driving this market?
  • What are the challenges to market growth?
  • Who are the key vendors in this market space?
  • What are the market opportunities and threats faced by the key vendors?

Key reason to Purchase the report

  1. To describe and forecast the Global Smart Parking Market, in terms of value, by process, product type, and industry.
  2. To strategically profile key players and comprehensively analyze their market position in terms of ranking and core competencies, and detail the competitive landscape for market leaders
  3. To describe and forecast the market, in terms of value, for various segments, by region North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW)
  4. To provide detailed information regarding the major factors (drivers, restraints, opportunities, and challenges) influencing the Global Smart Parking Market growth
  5. Market Development: Comprehensive information about emerging markets. This report analyzes the market for various trocars across geographies.
  6. To strategically analyze micro markets with respect to individual growth trends, prospects, and contribution to the overall market

Key focus of the report

  1. This report provides pin-point analysis for changing competitive dynamics
  2. It provides a forward-looking perspective on different factors driving or restraining market growth
  3. It provides five-year forecast assessed on the basis of how the market is predicted to grow
  4. It helps in understanding the key product segments and their future
  5. It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors
  6. It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments

Inquire More or Share Questions if Any before the Purchase on This Report @https://www.databridgemarketresearch.com/inquire-before-buying?dbmr=global-smart-parking-market

Customization of the Report

  • The report includes the complete segmentation displayed above across all above mentioned countries
  • All products covered in the Global Smart Parking Market, product volume and average selling prices will be included as customizable options which may incur no or minimal additional cost (depends on customization)

Thanks for reading this article; you can also get individual chapter wise section or region wise report version like North America, Europe, MEA or Asia Pacific.

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