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Smart Parking Market 2018
Smart Parking Market 2018 is latest research report by MarketResearchFuture, the global
Smart Parking market is expected to Register High Growth Rate during 2018 To 2023.
Report analyzes Smart Parking Market Key Companies with Size, Share, Trends analysis,
and Key Country Forecast to 2023. Smart Parking Market Information is segmented by
Parking Site (On-Street and Off-Street), Technology (SmartApp, In-Ground Vehicle
Detection Sensor, RFID, Ultrasonic, and Others), and region.
The Key Players in Global Smart Parking Market Are:
Amano McGann, Inc. (U.S.), Smart Parking Limited (Australia), IEM SA (Switzerland), IPS
Group Inc. (U.S.), Klaus Multiparking Systems (Germany), PArklayer (India), Omnitec group
(UAE), Mindteck (India), Robert Bosch GmbH (Germany) and Dongyang Menics Co., Ltd
(South Korea)
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Market Scenario:
Smart Parking is the system that helps the driver to find the vacant spot for parking the
vehicle. The parking system detects the parking space with the help of sensors and directs
the drivers about the vacant space. The various technologies that are used in smart parking
are smartapp, ultrasonic, RFID, and others. The smart parking market is expected to grow
at CAGR of around 10.97% during the period 2017 to 2023.
Growth factors:
The factors that are responsible for the growth of smart parking market are smart cities
solutions for connected demands and smart parking systems emerge as ideal solution to
several environmental and economic issues. The world is witnessing increasing
urbanization while technology has been incorporated by cities for many years. However,
the pace at which this adoption takes place is increasing, rapidly, as disruptive digital
technologies have the potential to solve major metropolitan challenges such as safe
parking. Smart cities hold the promise to make urban areas better efficient and more
secure. Smart parking is the most adopted and fastest growing solution across the airports,
universities, shopping centers and city garages. The ability to connect, analyse, and
automate data gathered from devices, powered by and described as the Internet of Things,
is what makes smart parking, possible. It has the power to employ a big number of small,
cheap, and energy efficient sensors, which, collect and process a range of parameters such
as temperature, sound, vibration, pressure, water quality, and pollutants.