Smart Parking Systems Market 2019 latest innovations drivers dynamics and strategic analysis challenges by 2025
Category: #health  By Partha Ray  Date: 2019-08-14
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Smart Parking Systems Market 2019 latest innovations drivers dynamics and strategic analysis challenges by 2025

Global Smart parking systems market report 2025 focuses on the major Types and Applications for the key players. The market forecast report also provides analysis of the market share, segmentation, revenue forecasts and geographic regions of the market. The research report is a professional and in-depth study on the current state of global Industry.

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On basis of sites, the smart parking systems market can be segregated into on-street and off-street vehicle spaces. In 2015, off-street accounted for more than 60% of smart parking systems industry share. Facilities, such as advanced payment solutions using RFID cards and ticketing, have facilitated the off-street solutions growth. Off-street solutions provide better utilization of space availability and accuracy of information.

The smart parking systems market share will grow substantially owing to benefits, such as real-time information about the availability of spaces in desired locations, thus saving time, energy, and fuel. It eliminates the drivers’ need to search for a parking spot by going around the desired areas. It efficiently manages empty and filled spaces and limits illegal parking issues, which in turn favors the smart parking systems industry size from 2016 to 2024.

The commercial sector is expected to grow at a significant rate during the forecast timeframe owing to increasing tourist attractions such as shopping malls, amusement parks, museums, theaters, sports complexes, and IT hubs, where there is a dire need for efficient parking systems. Nominal charges along with the convenience of mobile payments are expected to surge smart parking systems market demand from 2016 to 2024.

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Increasing traffic congestion in North America has led to the adoption of this technology in countries such as U.S. and Canada. The region accounts for about 40% of the smart parking systems market share. Asia Pacific is expected to grow at a significant rate owing to increasing automobile sales in countries such as China and India. Various government initiatives by the EU to reduce environmental pollution will lead the smart parking systems industry demand in Europe.

At Global Market Insights, our researchers and domain experts use a unique blend of primary and secondary research, with validation and iterations at every stage, in order to minimize deviation and present the most accurate analysis of the industry. The research process begins with extensive data mining, using authentic sources such as trade magazines, technical publications, independent studies along with paid avenues such as ICIS, Hoovers, etc.  Primary objectives of data mining include:

  • Definition and scope of research
  • Market dynamics, growth drivers and industry pitfalls
  • Regulatory and political guidelines for the industry
  • Demographics and statistical data

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Industry players for the smart parking systems market include 3M, Cubic Corporation, Amano Corporation, Thales, Nortek Control Systems Ltd., Swarco AG, Kapsch TrafficCom AG, Xerox Corporation, Siemens, Fujica, and Imtech. Other players include Altiux Innovations, BMW Group, Amco, Bosch, Cisco, ParkHelp, ParkMe, and Parkmobile LLC.

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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About Author

Partha Ray    

Partha Ray

Partha is into digital marketing since the last 3 years and has worked on multiple projects across various industries. An Computer Science engineer by education, he has prior experience in software development. His other interests include playing cricket & Hockey.

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