The smart parking solutions market is expected to generate a


Jersey City, New Jersey, Sept. 29, 2022 (GLOBE NEWSWIRE) — Verified Market Research recently released a report, “smart parking solutions market“By type (system devices, parking software and professional services), by application (commercial use, residential use and government use) and by geography.

According to in-depth research conducted by Verified Market Research, the global smart parking solutions market was valued at USD 5.250 Billion in 2018 and is projected to reach USD 11.793 Billion by 2026, growing at a CAGR of 10.66% in 2019 to 2026.

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202 – Pages

126 – Tables

37 – Numbers

Overview of the global smart parking solutions market

Smart parking solutions are intended to provide drivers with an ultimate solution on their journey from start to finish. Smart parking is the most efficient solution for the use of parking spaces, improves parking efficiency and enables smooth traffic. It is the best approach to solve parking problems such as insufficient parking space in crowded areas, inefficient use of existing parking capacity, difficulty in finding a free parking space in a large space parking lot, confusion in finding your vehicle in a large parking lot, traffic problems created due to poorly designed parking spaces and wasting time and fuel while searching for other resources.

The smart parking solution eliminates the need for guards who help find a parking spot and also collect tickets. Robust innovations revolutionize the parking experience. Innovations include wireless sensor-based technology, dynamic messaging, parking sensors and administrative facilities to visualize parking data, providing real-time parking data to citizens, as well as instant traffic regulation. parking areas. Some constraints and difficulties encountered may hamper the growth of the market. Factors such as unavailability of supporting infrastructure and higher implementation costs are likely to act as market restraints

Key players

The main market players are Robert Bosch GmbH, Continental AG, Valeo SA, Delphi Automotive PLC, Aisin Seiki Co., Ltd, Siemens AG, Xerox Corporation, Cubic Corporation, Amano Corporation, Kapsch Trafficcom AG.

Verified Market Research has segmented the global smart parking solutions market on the basis of type, application, and geography.

  • Smart Parking Solutions Market, By Type
    • System devices
    • parking software
    • Professional services
  • Smart Parking Solutions Market, By Application
    • commercial use
    • Residential use
    • Government use
  • Smart Parking Solutions Market, By Geography
    • North America
    • Europe
      • Germany
      • France
      • UK
      • The rest of Europe
    • Asia Pacific
      • China
      • Japan
      • India
      • Rest of Asia-Pacific
    • LINE
      • Middle East and Africa
      • Latin America

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Top 7 parking management systems transforming megacities into smart cities

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