The global Smart Parking System Market research report, published by Value Market Research, is designed to offer various market framework such as market size, portion, trends, growth path, value and factors that impact the current market dynamics over the forecast period 2024-2032. Most importantly, this report also provides the latest significant strategies adopted by major players along with their market share.

The report also covers detailed competitive landscape including company profiles of key players operating in the global market. The key players in the smart parking system market include 3M, Amano Corporation, BMW Group, Bosch, Cubic Corporation, KapschTrafficCom AG, Nortek Control Systems Ltd., Siemens, Swarco AG, and Xerox Corporation. An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.

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Market Dynamics

Rising trend of adoption of IoT and machine-to-machine (M2M) devices is driving the market growth. Increasing number of vehicles leading to high demand of vehicle parking management system is further boosting the market demand. Owing to quick and accurate data regarding parking availability has widened its application area in commercial infrastructures. Additional features such as online parking payments and notifications regarding parking time and availability are again contributing majorly in market demand.

This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter’s five forces analysis, market attractiveness analysis and value chain analysis. These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities. Additionally, these tools also provide a detailed analysis of each application/product segment in the global market of smart parking system.

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Market Segmentation

The broad smart parking system market has been sub-grouped into component, parking site and vertical. The report studies these subsets with respect to the geographical segmentation. The strategists can gain a detailed insight and devise appropriate strategies to target specific market. This detail will lead to a focused approach leading to identification of better opportunities.

By Hardware

• Pucks (Wireless Sensors)
• Cameras & LPRs
• Smart Meters
• Signage
• Parking Gates

By Software

• Parking Guidance System
• Analytics Solutions

By Service

• Consulting Service
• Engineering Service
• Mobile App Parking Service

By Type

• On-street
• Off-street (Garage Parking, Lot Parking)

By Application

• Commercial
• Government
• Transport Transit

Regional Analysis

Furthermore, the report comprises of the geographical segmentation which mainly focuses on current and forecast demand for smart parking system in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.

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