The Industry Report “Smart Parking Systems Market” provides a clear picture of the Current Market Scenario which includes past and estimated future size with respect to Value and Volume, Technological Advancement, Macro Economical and Governing Factors in the Smart Parking Systems market.
Smart Parking Systems address critical parking issues, by making it easier for drivers to park their vehicles without wasting time and fuel. Smart parking 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 this 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 in the smart parking systems market.
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Increasing adoption of pricing and structuring tools is projected to be one of the vital Smart Parking Systems trend, which during the forecast period will gain noteworthy traction. By implementing pricing and structuring tools enables management of individual portfolios and dodge the risk through automation, consistency, and transparency provided by algorithmic trading throughout the company. Hence, the adoption of these tools is projected to optimistically impact the growth of Smart Parking Systems market.
Key Players Influencing the Market
The “Global Smart Parking Systems market Analysis to 2025” is a specialized and in-depth study of the Smart Parking Systems industry with a focus on the global market trend. The report aims to provide an overview of global Smart Parking Systems market with detailed market segmentation on the basis of component, solution, application, platform, and geography. The global Smart Parking Systems market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading Smart Parking Systems market players and offers key trends and opportunities in the market.
Global smart parking systems market is expected to grow from US$ 398.6 million in 2016 to US$ 1,462.3 million by 2025 at a CAGR of 15.7% between 2017 and 2025.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global Smart Parking Systems market based on various segments. It also provides market size and forecast estimates from the year 2018 to 2025 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The Smart Parking Systems market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of eighteen countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the Smart Parking Systems market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the Smart Parking Systems market in these regions.
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