"Smart parking market by system (guided & smart park), technology (ultrasonic, radar,
image), component, parking management by solution (security & surveillance, valet &
parking reservation, license plate recognition), and vertical - global forecast to 2021",
the passenger car smart parking market is projected to grow at a CAGR of 17.94% during
the forecast period, to reach a market size of USD 5.25 billion by 2021 from USD 2.13
billion in 2015.
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