Smart parking market : expected to register the highest growth rate
The smart parking market is projected to grow at a CAGR of 17.94% from 2016 to 2021,
to reach a market size of USD 5.25 billion by 2021. The market is driven by factors such
as limited parking space availability, growing number of accidents caused by vehicles
reversing out of parking spaces and growing consumer demand for advanced vehicle
and passenger safety systems in passenger cars.
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