Smart Parking Systems Market to Reach US$ 1099.4 Mn by 2025 |The Insi Smart Parking Systems Market | Page 2

Smart Parking Systems Market to 2025 Introduction In the present scenario, world is facing critical issues of traffic cramming with a significant rise in the vehicle population and congestion in cities, and this has become an ongoing challenge for municipal councils and the traffic authorities to track and manage vehicular traffic. Numerous efforts have been made to improve country’s parking and traffic management systems. A number of private-public joint initiatives such as ParkIndy, SFpark and LA Express Park have adopted and implemented smart parking in order to effectively utilize unused parking spaces. These make use of real-time, smart, sensor-based parking information. Smart parking solutions such as online parking reservations, and mobile parking payment are expected to boost the smart parking systems market worldwide during the forecast period. In the coming years, P2P parking might generate new opportunities globally for myriad commercial parking lots, garages and residents to rent out their parking spaces with the aid of online marketplaces like ParkingPanda, JustPark, ParkMe and the social media. Browse Complete Report @ http://www.theinsightpartners.com/reports/smart-parking-systems-market Contact Us : [phone]| E-Mail : [email protected]