Press Releases

Smart Parking Systems Market is Anticipated to Grow US$ 20.4 Bn By 2030

The global Smart Parking Systems market size is expected to reach USD 20.4 billion by 2030 and is expected to expand at a CAGR of 23.3% from 2021 to 2030.

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Growth Factors

 Several countries across the globe have experienced and are currently experiencing varying degrees of lockdowns due to the COVID-19 pandemic. Furthermore, cities are experiencing a steep drop in traffic congestion. According to SpotHero, Inc., a U.S.-based smart parking solutions provider, since mid-March 2020, the demand for parking systems has decreased by 90% across the U.S. This decline is expected to adversely impact the market in the country as well as across the globe, at least for a short duration.

rise in the use of private transportation and its impact on the demand for smart parking space management. The steadily widening consumer base of  is also expected to drive the demand for smart parking facilities as self-driven cars require robotically automated parking spaces. Moreover, the exponential rise in the number of smartphone users globally is enabling an increasing number of users to park, pay, and book slots in advance through mobile apps.

Report Coverage

Report Scope Details
Market Size USD 20.4 billion by 2030
Growth Rate CAGR of 23.3% From 2021 to 2030
Base Year 2020
Historic Data 2017 to 2020
Forecast Period 2021 to 2030
Segments Covered Hardware, Software, Service, Type, Application
Regional Scope North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Companies Mentioned Altiux Innovations; Amano McGann, Inc.; Amco S.A.; BMW AG (ParkNow GmbH, Parkmobile, LLC); Cisco Systems, Inc.; CivicSmart, Inc.; Deteq Solutions; Flowbird; gtechna; INDECT Electronics & Distribution GmbH; Kapsch TrafficCom; Libelium Comunicaciones Distribuidas S.L.; Meter Feeder, Inc.; Mindteck; Municipal Parking Services, Inc.; Nedap N.V.; Park Assist; Parkeon; ParkHelp; ParkJockey; ParkMe Inc.; Robert Bosch GmbH; Siemens AG; SKIDATA AG; Smart Parking Ltd.; SpotHero, Inc.; Swarco AG; Urbiotica, S.L.;

 

Report Highlights

The smart meters segment dominated in 2021 and accounted for a revenue share of over 42%. The increasing need for on-street parking spaces across various cities globally has chiefly led to the widespread use of parking meters. Smart meters track and record the number of vehicles that are parked, in addition to tracking free spaces.

The cameras and LPRs segment is projected to emerge as the fastest-growing segment during the forecast period. This can be attributed to the growing use of LPRs in-vehicle surveillance. The growing use of technologies such as image processing and human-computer interaction has led to cameras being increasingly deployed in smart parking systems for detecting the entry and exit of vehicles in a parking site.

 The parking guidance system segment dominated in 2020 and accounted for a revenue share of over 78%. These systems have gained traction in the market as they help drivers save time by proactively providing details of vacant spaces, parking guidelines, number of available spaces, and duration of availability.

The analytics solutions segment is expected to witness significant growth over the forecast period. The segment’s growth can be attributed to the capability of the parking sensors mounted on several structures such as light poles to systematically collect reliable information about vacant and occupied spaces.

The engineering service segment dominated in 2020 and accounted for a revenue share of over 63%. The growth of the segment can be attributed to the increased adoption of autonomous and semi-autonomous cars, especially in developed economies.

The consulting service segment is expected to witness significant growth over the forecast period. Consulting services address different management needs such as learning the use of a smart parking application or customizing a parking space according to the requirement of the operator or user.

The commercial segment dominated the smart parking systems market in 2021 and accounted for a revenue share of nearly 42%. The growth of the segment can be attributed to the increased adoption of smart parking systems at shopping malls, sports complexes, corporate buildings, and theaters, among other public venues.

The transport transit segment is expected to witness significant growth over the forecast period due to increased travel by airplanes. Airport authorities worldwide offer the facility to book or reserve parking spaces through its website and mobile apps.

The off-street segment dominated the market in 2021 and accounted for a revenue share of over 73%. The increasing adoption of off-street parking can be ascribed to the growing need to utilize space and accommodate many cars in a single slot. Smart city initiatives are demanding better parking space utilization using smart, sensor-based vehicle detection technology for managing parking issues.

The on-street segment is expected to witness significant growth over the forecast period. The segment is expected to benefit from the large-scale use of smartphone applications that allow users to track the accessibility of parking spaces in real-time.

North America dominated the global market in 2020 and accounted for a revenue share of over 38%. The market is expected to witness significant growth owing to the increasing number of vehicles in the region. Civic authorities in Canada and the U.S. are making efforts to reduce traffic congestions, which has been getting more and more severe with the increase in vehicle ownership.

Europe is expected to present considerable growth opportunities, chiefly owing to government initiatives supporting intelligent parking systems as a part of the efforts to reduce pollution.

Key Players

  • Altiux Innovations
  • Amano McGann, Inc.
  • Amco S.A.
  • BMW AG (ParkNow GmbH, Parkmobile LLC)
  • Cisco Systems, Inc.
  • CivicSmart, Inc.
  • Deteq Solutions
  • Flowbird
  • gtechna
  • INDECT Electronics & Distribution GmbH
  • Kapsch TrafficCom
  • Libelium Comunicaciones Distribuidas S.L.
  • Meter Feeder, Inc.
  • Mindteck
  • Municipal Parking Services, Inc.
  • Nedap N.V.
  • Park Assist
  • ParkHelp Technologies
  • ParkJockey
  • ParkMe Inc.
  • Robert Bosch GmbH
  • Siemens AG
  • SKIDATA AG
  • Smart Parking Ltd.
  • SpotHero, Inc.
  • Swarco AG
  • Urbiotica, S.L.

Market Segmentation

  • Hardware
    • Pucks (Wireless Sensors)
    • Cameras & LPRs
    • Smart Meters
    • Signage
    • Parking Gates
  • Software
    • Parking Guidance System
    • Analytics Solutions
  • Service
    • Consulting Service
    • Engineering Service
    • Mobile App Parking Service
  • Type
    • On-street
    • Off-street
      • Garage Parking
      • Lot Parking
  • Application
    • Commercial
    • Government
    • Transport Transit
  • Regional
    • North America
      • U.S.
      • Canada
    • Europe
      • U.K.
      • Germany
    • Asia Pacific
      • China
      • Japan
      • India
      • Australia
      • Singapore
      • Thailand
      • Philippines
      • Hong Kong
      • Vietnam
      • Indonesia
    • Latin America
      • Brazil
    • MEA

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Reasons to Purchase this Report:

– Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
– Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
– Market value USD Million and volume Units Million data for each segment and sub-segment
– Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
– Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Table of Contents

Chapter 1.  Introduction

1.1.  Research Objective

1.2.  Scope of the Study

1.3.  Definition

Chapter 2.  Research Methodology

2.1.  Research Approach

2.2.  Data Sources

2.3.  Assumptions & Limitations

Chapter 3.  Executive Summary

3.1.  Market Snapshot

Chapter 4.  Market Variables and Scope

4.1.  Introduction

4.2.  Market Classification and Scope

4.3.  Industry Value Chain Analysis

4.3.1.    Raw Material Procurement Analysis

4.3.2.    Sales and Distribution Channel Analysis

4.3.3.    Downstream Buyer Analysis

Chapter 5.  Market Dynamics Analysis and Trends

5.1.  Market Dynamics

5.1.1.    Market Drivers

5.1.2.    Market Restraints

5.1.3.    Market Opportunities

5.2.  Porter’s Five Forces Analysis

5.2.1.    Bargaining power of suppliers

5.2.2.    Bargaining power of buyers

5.2.3.    Threat of substitute

5.2.4.    Threat of new entrants

5.2.5.    Degree of competition

Chapter 6.  Competitive Landscape

6.1.1.    Company Market Share/Positioning Analysis

6.1.2.    Key Strategies Adopted by Players

6.1.3.    Vendor Landscape

6.1.3.1.        List of Suppliers

6.1.3.2.        List of Buyers

Chapter 7.  Global Smart Parking Systems Market, By Hardware

7.1.  Smart Parking Systems Market, by Hardware, 2021-2030

7.1.1.    Pucks (Wireless Sensors)

7.1.1.1.        Market Revenue and Forecast (2017-2030)

7.1.2.    Cameras & LPRs

7.1.2.1.        Market Revenue and Forecast (2017-2030)

7.1.3.    Smart Meters

7.1.3.1.        Market Revenue and Forecast (2017-2030)

7.1.4.    Signage

7.1.4.1.        Market Revenue and Forecast (2017-2030)

7.1.5.    Parking Gates

7.1.5.1.        Market Revenue and Forecast (2017-2030)

Chapter 8.  Global Smart Parking Systems Market, By Software

8.1.  Smart Parking Systems Market, by Software, 2021-2030

8.1.1.    Parking Guidance System

8.1.1.1.        Market Revenue and Forecast (2017-2030)

8.1.2.    Analytics Solutions

8.1.2.1.        Market Revenue and Forecast (2017-2030)

Chapter 9.  Global Smart Parking Systems Market, By Service

9.1.  Smart Parking Systems Market, by Service, 2021-2030

9.1.1.    Consulting Service

9.1.1.1.        Market Revenue and Forecast (2017-2030)

9.1.2.    Engineering Service

9.1.2.1.        Market Revenue and Forecast (2017-2030)

9.1.3.    Mobile App Parking Service

9.1.3.1.        Market Revenue and Forecast (2017-2030)

Chapter 10.      Global Smart Parking Systems Market, By Type

10.1.        Smart Parking Systems Market, by Type, 2021-2030

10.1.1.  On-street

10.1.1.1.      Market Revenue and Forecast (2017-2030)

10.1.2.  Off-street

10.1.2.1.      Market Revenue and Forecast (2017-2030)

Chapter 11.      Global Smart Parking Systems Market, By Application

11.1.        Smart Parking Systems Market, by Application, 2021-2030

11.1.1.  Commercial

11.1.1.1.      Market Revenue and Forecast (2017-2030)

11.1.2.  Government

11.1.2.1.      Market Revenue and Forecast (2017-2030)

11.1.3.  Transport Transit

11.1.3.1.      Market Revenue and Forecast (2017-2030)

Chapter 12.      Global Smart Parking Systems  Market, Regional Estimates and Trend Forecast

12.1.        North America

12.1.1.  Market Revenue and Forecast, by Hardware (2017-2030)

12.1.2.  Market Revenue and Forecast, by Software (2017-2030)

12.1.3.  Market Revenue and Forecast, by Service (2017-2030)

12.1.4.  Market Revenue and Forecast, by Type (2017-2030)

12.1.5.  Market Revenue and Forecast, by Application (2017-2030)

12.1.6.  U.S.

12.1.6.1.      Market Revenue and Forecast, by Hardware (2017-2030)

12.1.6.2.      Market Revenue and Forecast, by Software (2017-2030)

12.1.6.3.      Market Revenue and Forecast, by Service (2017-2030)

12.1.6.4.      Market Revenue and Forecast, by Type (2017-2030)

12.1.6.5.      Market Revenue and Forecast, by Application (2017-2030)

12.1.7.  Rest of North America

12.1.7.1.      Market Revenue and Forecast, by Hardware (2017-2030)

12.1.7.2.      Market Revenue and Forecast, by Software (2017-2030)

12.1.7.3.      Market Revenue and Forecast, by Service (2017-2030)

12.1.7.4.      Market Revenue and Forecast, by Type (2017-2030)

12.1.7.5.      Market Revenue and Forecast, by Application (2017-2030)

12.2.        Europe

12.2.1.  Market Revenue and Forecast, by Hardware (2017-2030)

12.2.2.  Market Revenue and Forecast, by Software (2017-2030)

12.2.3.  Market Revenue and Forecast, by Service (2017-2030)

12.2.4.  Market Revenue and Forecast, by Type (2017-2030)

12.2.5.  Market Revenue and Forecast, by Application (2017-2030)

12.2.6.  UK

12.2.6.1.      Market Revenue and Forecast, by Hardware (2017-2030)

12.2.6.2.      Market Revenue and Forecast, by Software (2017-2030)

12.2.6.3.      Market Revenue and Forecast, by Service (2017-2030)

12.2.6.4.      Market Revenue and Forecast, by Type (2017-2030)

12.2.6.5.      Market Revenue and Forecast, by Application (2017-2030)

12.2.7.  Germany

12.2.7.1.      Market Revenue and Forecast, by Hardware (2017-2030)

12.2.7.2.      Market Revenue and Forecast, by Software (2017-2030)

12.2.7.3.      Market Revenue and Forecast, by Service (2017-2030)

12.2.7.4.      Market Revenue and Forecast, by Type (2017-2030)

12.2.7.5.      Market Revenue and Forecast, by Application (2017-2030)

12.2.8.  France

12.2.8.1.      Market Revenue and Forecast, by Hardware (2017-2030)

12.2.8.2.      Market Revenue and Forecast, by Software (2017-2030)

12.2.8.3.      Market Revenue and Forecast, by Service (2017-2030)

12.2.8.4.      Market Revenue and Forecast, by Type (2017-2030)

12.2.8.5.      Market Revenue and Forecast, by Application (2017-2030)

12.2.9.  Rest of Europe

12.2.9.1.      Market Revenue and Forecast, by Hardware (2017-2030)

12.2.9.2.      Market Revenue and Forecast, by Software (2017-2030)

12.2.9.3.      Market Revenue and Forecast, by Service (2017-2030)

12.2.9.4.      Market Revenue and Forecast, by Type (2017-2030)

12.2.9.5.      Market Revenue and Forecast, by Application (2017-2030)

12.3.        APAC

12.3.1.  Market Revenue and Forecast, by Hardware (2017-2030)

12.3.2.  Market Revenue and Forecast, by Software (2017-2030)

12.3.3.  Market Revenue and Forecast, by Service (2017-2030)

12.3.4.  Market Revenue and Forecast, by Type (2017-2030)

12.3.5.  Market Revenue and Forecast, by Application (2017-2030)

12.3.6.  India

12.3.6.1.      Market Revenue and Forecast, by Hardware (2017-2030)

12.3.6.2.      Market Revenue and Forecast, by Software (2017-2030)

12.3.6.3.      Market Revenue and Forecast, by Service (2017-2030)

12.3.6.4.      Market Revenue and Forecast, by Type (2017-2030)

12.3.6.5.      Market Revenue and Forecast, by Application (2017-2030)

12.3.7.  China

12.3.7.1.      Market Revenue and Forecast, by Hardware (2017-2030)

12.3.7.2.      Market Revenue and Forecast, by Software (2017-2030)

12.3.7.3.      Market Revenue and Forecast, by Service (2017-2030)

12.3.7.4.      Market Revenue and Forecast, by Type (2017-2030)

12.3.7.5.      Market Revenue and Forecast, by Application (2017-2030)

12.3.8.  Japan

12.3.8.1.      Market Revenue and Forecast, by Hardware (2017-2030)

12.3.8.2.      Market Revenue and Forecast, by Software (2017-2030)

12.3.8.3.      Market Revenue and Forecast, by Service (2017-2030)

12.3.8.4.      Market Revenue and Forecast, by Type (2017-2030)

12.3.8.5.      Market Revenue and Forecast, by Application (2017-2030)

12.3.9.  Rest of APAC

12.3.9.1.      Market Revenue and Forecast, by Hardware (2017-2030)

12.3.9.2.      Market Revenue and Forecast, by Software (2017-2030)

12.3.9.3.      Market Revenue and Forecast, by Service (2017-2030)

12.3.9.4.      Market Revenue and Forecast, by Type (2017-2030)

12.3.9.5.      Market Revenue and Forecast, by Application (2017-2030)

12.4.        MEA

12.4.1.  Market Revenue and Forecast, by Hardware (2017-2030)

12.4.2.  Market Revenue and Forecast, by Software (2017-2030)

12.4.3.  Market Revenue and Forecast, by Service (2017-2030)

12.4.4.  Market Revenue and Forecast, by Type (2017-2030)

12.4.5.  Market Revenue and Forecast, by Application (2017-2030)

12.4.6.  GCC

12.4.6.1.      Market Revenue and Forecast, by Hardware (2017-2030)

12.4.6.2.      Market Revenue and Forecast, by Software (2017-2030)

12.4.6.3.      Market Revenue and Forecast, by Service (2017-2030)

12.4.6.4.      Market Revenue and Forecast, by Type (2017-2030)

12.4.6.5.      Market Revenue and Forecast, by Application (2017-2030)

12.4.7.  North Africa

12.4.7.1.      Market Revenue and Forecast, by Hardware (2017-2030)

12.4.7.2.      Market Revenue and Forecast, by Software (2017-2030)

12.4.7.3.      Market Revenue and Forecast, by Service (2017-2030)

12.4.7.4.      Market Revenue and Forecast, by Type (2017-2030)

12.4.7.5.      Market Revenue and Forecast, by Application (2017-2030)

12.4.8.  South Africa

12.4.8.1.      Market Revenue and Forecast, by Hardware (2017-2030)

12.4.8.2.      Market Revenue and Forecast, by Software (2017-2030)

12.4.8.3.      Market Revenue and Forecast, by Service (2017-2030)

12.4.8.4.      Market Revenue and Forecast, by Type (2017-2030)

12.4.8.5.      Market Revenue and Forecast, by Application (2017-2030)

12.4.9.  Rest of MEA

12.4.9.1.      Market Revenue and Forecast, by Hardware (2017-2030)

12.4.9.2.      Market Revenue and Forecast, by Software (2017-2030)

12.4.9.3.      Market Revenue and Forecast, by Service (2017-2030)

12.4.9.4.      Market Revenue and Forecast, by Type (2017-2030)

12.4.9.5.      Market Revenue and Forecast, by Application (2017-2030)

12.5.        Latin America

12.5.1.  Market Revenue and Forecast, by Hardware (2017-2030)

12.5.2.  Market Revenue and Forecast, by Software (2017-2030)

12.5.3.  Market Revenue and Forecast, by Service (2017-2030)

12.5.4.  Market Revenue and Forecast, by Type (2017-2030)

12.5.5.  Market Revenue and Forecast, by Application (2017-2030)

12.5.6.  Brazil

12.5.6.1.      Market Revenue and Forecast, by Hardware (2017-2030)

12.5.6.2.      Market Revenue and Forecast, by Software (2017-2030)

12.5.6.3.      Market Revenue and Forecast, by Service (2017-2030)

12.5.6.4.      Market Revenue and Forecast, by Type (2017-2030)

12.5.6.5.      Market Revenue and Forecast, by Application (2017-2030)

12.5.7.  Rest of LATAM

12.5.7.1.      Market Revenue and Forecast, by Hardware (2017-2030)

12.5.7.2.      Market Revenue and Forecast, by Software (2017-2030)

12.5.7.3.      Market Revenue and Forecast, by Service (2017-2030)

12.5.7.4.      Market Revenue and Forecast, by Type (2017-2030)

12.5.7.5.      Market Revenue and Forecast, by Application (2017-2030)

Chapter 13.  Company Profiles

13.1.              Altiux Innovations

13.1.1.  Company Overview

13.1.2.  Product Offerings

13.1.3.  Financial Performance

13.1.4.  Recent Initiatives

13.2.              Amano McGann, Inc.

13.2.1.  Company Overview

13.2.2.  Product Offerings

13.2.3.  Financial Performance

13.2.4.  Recent Initiatives

13.3.              Amco S.A.

13.3.1.  Company Overview

13.3.2.  Product Offerings

13.3.3.  Financial Performance

13.3.4.  Recent Initiatives

13.4.              BMW AG (ParkNow GmbH, Parkmobile LLC)

13.4.1.  Company Overview

13.4.2.  Product Offerings

13.4.3.  Financial Performance

13.4.4.  Recent Initiatives

13.5.              Cisco Systems, Inc.

13.5.1.  Company Overview

13.5.2.  Product Offerings

13.5.3.  Financial Performance

13.5.4.  Recent Initiatives

13.6.              CivicSmart, Inc.

13.6.1.  Company Overview

13.6.2.  Product Offerings

13.6.3.  Financial Performance

13.6.4.  Recent Initiatives

13.7.              Deteq Solutions

13.7.1.  Company Overview

13.7.2.  Product Offerings

13.7.3.  Financial Performance

13.7.4.  Recent Initiatives

13.8.              Flowbird

13.8.1.  Company Overview

13.8.2.  Product Offerings

13.8.3.  Financial Performance

13.8.4.  Recent Initiatives

13.9.              gtechna

13.9.1.  Company Overview

13.9.2.  Product Offerings

13.9.3.  Financial Performance

13.9.4.  Recent Initiatives

13.10.           INDECT Electronics & Distribution GmbH

13.10.1.               Company Overview

13.10.2.               Product Offerings

13.10.3.               Financial Performance

13.10.4.               Recent Initiatives

13.11.           Kapsch TrafficCom

13.11.1.               Company Overview

13.11.2.               Product Offerings

13.11.3.               Financial Performance

13.11.4.               Recent Initiatives

13.12.           Libelium Comunicaciones Distribuidas S.L.

13.12.1.               Company Overview

13.12.2.               Product Offerings

13.12.3.               Financial Performance

13.12.4.               Recent Initiatives

13.13.           Meter Feeder, Inc.

13.13.1.               Company Overview

13.13.2.               Product Offerings

13.13.3.               Financial Performance

13.13.4.               Recent Initiatives

13.14.           Mindteck

13.14.1.               Company Overview

13.14.2.               Product Offerings

13.14.3.               Financial Performance

13.14.4.               Recent Initiatives

Chapter 14.  Research Methodology

14.1.              Primary Research

14.2.              Secondary Research

14.3.              Assumptions

Chapter 15.  Appendix

15.1.              About Us

Glossary of Terms

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