Asia Pacific Blood Glucose Test Strip Packaging Market Research Repor Global Smart Parking Market_Written by Trisha

Augmenting Need for Safe Parking to Stimulate the Global Smart Parking Market: Forecast (2017-
2023)
Smart Parking Industry is to grow at strategic CAGR of 10.97% over the forecast period of 2019 to 2023.
Global Smart Parking industry Report – Forecast to 2023 is latest research report published by "Market
Research Future", which provides comprehensive information on Smart Parking Industry Trends, Size,
Share, Statistics with historic and forecast data to 2023.
Smart Parking Market Information Report by Parking Site (On-Street and Off-Street), Technology
(SmartApp, In-Ground Vehicle Detection Sensor, RFID, Ultrasonic, and Others), and region.
Competitive Dashboard
The prominent players operating the global smart parking market are Mindteck (India), Omnitec group
(UAE), IPS Group Inc. (U.S.), Robert Bosch GmbH (Germany), Dongyang Menics Co. Ltd (South Korea),
Klaus Multiparking Systems (Germany), IEM SA (Switzerland), PArklayer (India), Smart Parking Limited
(Australia), and Amano McGann Inc. (U.S.).
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Market Scenario
The global smart parking market is predicted to register 10.97% CAGR during the forecast period (2017 -
2023) owing to the smart cities solutions for connected demands, asserts Market Research Future
(MRFR). Smart parking is referred to as a vehicle parking system which allow drivers to look for vacant
space in order to park the vehicle. Software and sensors assist the drivers for finding place available for
parking with the help of sign and symbols. The system also helps in proper management of the vehicle
by considering the availability of space and assists in optimized usage of land. Smart parking systems
market comprises real-time data, sensors, and smart-phone-enabled automated payment systems
which enable the users to reserve parking slot in advance. The system helps to identify the exact state of
a parking space, whether occupied or vacant, and examines and transmits information to signage,
mobile applications, and web-based applications.
Global Smart Parking Market: Segmental Analysis
The global smart parking market has been segmented on the basis of technology, parking site, and
region.
By mode of parking site, the global smart parking market has been segmented into off-street and on-
street. Among these, the off-street segment occupies the largest market share with 68.45% owing to the
growth in the automotive industry. Off-street parking is used to park vehicles anywhere except on the
street. Several parking lots and garages are available for parking vehicles and is regarded as one of the
safest modes of parking compared to on-street parking.
By mode of technology, the global smart parking market has been segmented into ultrasonic, SmartApp,
In-ground vehicle detection sensor, RFID, and others. Among these, the SmartApp occupies the largest
market share with 34.14%. The SmartApp is an integrated technology which helps the drivers on real