Automotive and Transportation Smart Parking Systems Market Insight 2024 | Page 3

Smart Parking Systems Market
The global smart parking systems market is expected to witness a CAGR of 15.8%
during the forecast period, to reach $4,800 million by 2023. The parking sensors
have emerged as the largest segment in the global smart parking systems market.
In 2016, Asia-Pacific was among the fastest growing markets, due to growing
awareness of end-users about smart parking systems in the region.