Smart Parking Global Industry Report 2024 - Smart Parking Solutions Seek to Resolve the Ever Growing Transport Challenges Confronting Cities across the World

Dublin, June 14, 2024 (GLOBE NEWSWIRE) -- The "Smart Parking - Global Strategic Business Report" has been added to's offering.

The global market for Smart Parking is estimated at US$7.9 Billion in 2023 and is projected to reach US$31.1 Billion by 2030, growing at a CAGR of 18.6% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.

Key Insights:

  • Market Growth: Understand the significant growth trajectory of the Off-Street Parking segment, which is expected to reach US$25.4 Billion by 2030 with a CAGR of 20.4%. The On-Street Parking segment is also set to grow at 12.8% CAGR over the next 8 years.
  • Regional Analysis: Gain insights into the U.S. market, estimated at $2.9 Billion in 2023, and China, forecasted to grow at an impressive 21% CAGR to reach $4.3 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.

Key Market Trends & Drivers:

  • Growing Vehicular Traffic and Lack of Adequate Parking Spaces in Cities Drives Focus onto Smart Parking Systems
  • The High Economic Cost of Parking Drives Interest in Smart Parking Solutions
  • Average Time Spent in Searching for Parking Space in the UK, Germany and USA (in Hours Per Driver Per Annum)
  • Smart Parking Solutions Seek to Resolve the Ever Growing Transport Challenges Confronting Cities across the World
  • Smart Parking: An Integral Part of Smart City Initiatives
  • A Review of Select Smart City Initiatives Implemented Worldwide
  • Growing Smart City Initiatives Worldwide Presents Opportunity for Smart Parking Market
  • Rapid Pace of Urbanization Gives Rise to Parking Concerns, Presenting Opportunities for Smart Parking Market
  • Among the Notable Innovations in the Parking Space, Smart Parking Solutions Hold Immense Potential to Increase Parking Capacities
  • Integration of Real-Time Smart Parking Systems in Intelligent Transport Systems across Smart Cities: Designed to Provide Timely Information
  • IoT Facilitates Location Tracking of Cars in Smart Parking Lots
  • Key Benefits of IoT-based Smart Parking System: % Reduction in Time Spent on Searching for Parking Space, Gas Emissions, Distance Travelled and Traffic Volume
  • Innovations in IoT-based Smart Parking to Revolutionize Parking Space
  • Parking 4.0: The Future of Smart Parking
  • Smart Parking Technology Presents Additional Avenues of Revenue Generation in Cities
  • AI-Based Parking Improves Parking and On-Road Experience
  • Sensors Play a Vital Role in Smart Parking Systems
  • Event Parking in Cities: Tremendous Growth Potential for Smart Parking Market
  • Innovations & Advancements Boost Market Prospects
  • Major Issues with Automated Parking Technology

Key Questions Answered:

  • How is the Global Smart Parking Market expected to evolve by 2030?
  • What are the main drivers and restraints affecting the market?
  • Which market segments will grow the most over the forecast period?
  • How will market shares for different regions and segments change by 2030?
  • Who are the leading players in the market, and what are their prospects?

Key Attributes:

Report AttributeDetails
No. of Pages526
Forecast Period2023 - 2030
Estimated Market Value (USD) in 2023$7.9 Billion
Forecasted Market Value (USD) by 2030$31.1 Billion
Compound Annual Growth Rate18.6%
Regions CoveredGlobal

Report Features:

  • Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
  • In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
  • Company Profiles: Coverage of major players such as Amano Corporation, Amano McGann, Inc., BMW Group, and more.
  • Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.

Select Competitors Featured:

  • Amano Corporation
  • Amano McGann, Inc.
  • BMW Group
  • Cisco Systems, Inc.
  • CivicSmart, Inc.
  • Continental AG
  • Mercedes-Benz Group AG
  • Flowbird
  • gtechna
  • IEM SA
  • INDECT Electronics & Distribution GmbH
  • IPS Group Inc.
  • Kapsch TrafficCom AG
  • Klaus Multiparking Systems Pvt. Ltd.
  • Nedap
  • Parkmobile LLC
  • Robert Bosch GmbH
  • Smart Parking Limited
  • Swarco AG
  • TKH Group NV
  • Urbiotica
  • Valeo S.A.
  • Volkswagen AG

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