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Connected Vehicle & Parking Space Industry Landscape Market

ID: MRFR/AT/33391-HCR
100 Pages
Swapnil Palwe
October 2025

Connected Vehicle and Parking Space Industry Landscape Market Research Report By Vehicle Type (Passenger Vehicles, Commercial Vehicles, Two-Wheelers, Electric Vehicles, Autonomous Vehicles), By Technology (Vehicle-to-Vehicle Communication, Vehicle-to-Infrastructure Communication, Internet of Things (IoT), Cloud Computing), By Application (Traffic Management, Smart Parking Solutions, Fleet Management, Insurance Telematics), By End Use (Private Use, Public Transportation, Logistics and Delivery) and By Regional (North America, Europe, South Am... read more

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Connected Vehicle & Parking Space Industry Landscape Market Summary

As per MRFR analysis, the Connected Vehicle Parking Space Industry. was estimated at 60.43 USD Billion in 2024. The connected vehicle parking space industry is projected to grow from 68.18 USD Billion in 2025 to 227.82 USD Billion by 2035, exhibiting a compound annual growth rate (CAGR) of 12.82 during the forecast period 2025 - 2035.

Key Market Trends & Highlights

The Connected Vehicle Parking Space Industry is poised for substantial growth driven by technological advancements and evolving consumer preferences.

  • The integration of smart technologies is transforming parking solutions, enhancing efficiency and user experience.
  • Sustainability initiatives are gaining traction, reflecting a growing commitment to environmentally friendly practices in urban areas.
  • User-centric solutions are becoming increasingly prevalent, catering to the diverse needs of consumers in the parking landscape.
  • The rise of urbanization and advancements in IoT technology are key drivers propelling the market forward, particularly in North America and the Asia-Pacific region.

Market Size & Forecast

2024 Market Size 60.43 (USD Billion)
2035 Market Size 227.82 (USD Billion)
CAGR (2025 - 2035) 12.82%

Major Players

ParkMobile (US), SpotHero (US), ParkWhiz (US), JustPark (GB), EasyPark (SE), ParkMe (US), Parkopedia (GB), Flowbird (FR), Smarking (US)

Connected Vehicle & Parking Space Industry Landscape Market Trends

The Connected Vehicle Parking Space Industry. is currently experiencing a transformative phase, driven by advancements in technology and the increasing integration of smart systems in urban environments. This market encompasses a range of solutions that facilitate the efficient management of parking spaces, leveraging connectivity and data analytics to optimize vehicle parking experiences. As urbanization continues to rise, the demand for innovative parking solutions appears to be escalating, prompting stakeholders to explore new avenues for enhancing user convenience and operational efficiency. Furthermore, the growing emphasis on sustainability and reduced carbon footprints is likely to influence the development of eco-friendly parking solutions, which may integrate electric vehicle charging stations and promote shared mobility options. In addition, the proliferation of connected vehicles is reshaping consumer expectations regarding parking services. Users now seek seamless experiences that incorporate real-time information about parking availability, reservation capabilities, and payment options. This shift in consumer behavior suggests that companies operating within the Connected Vehicle Parking Space Industry Landscape Market must adapt to these evolving demands by investing in advanced technologies and user-centric solutions. As the market continues to evolve, collaboration among technology providers, automotive manufacturers, and urban planners may play a crucial role in shaping the future landscape of parking solutions, ultimately leading to smarter, more efficient urban mobility systems.

Integration of Smart Technologies

The Connected Vehicle Parking Space Industry Landscape Market is witnessing a notable trend towards the integration of smart technologies. This encompasses the use of sensors, mobile applications, and cloud computing to enhance parking management. Such innovations facilitate real-time data collection and analysis, enabling users to locate available parking spaces quickly and efficiently.

Sustainability Initiatives

There is a growing focus on sustainability within the Connected Vehicle Parking Space Industry Landscape Market. Stakeholders are increasingly prioritizing eco-friendly solutions, such as electric vehicle charging stations and green parking facilities. This trend reflects a broader commitment to reducing environmental impact and promoting sustainable urban development.

User-Centric Solutions

The demand for user-centric solutions is becoming more pronounced in the Connected Vehicle Parking Space Industry Landscape Market. Consumers are seeking seamless experiences that include features like reservation systems, mobile payments, and real-time availability updates. This shift indicates a need for companies to prioritize customer experience in their service offerings.

Connected Vehicle & Parking Space Industry Landscape Market Drivers

Market Growth Projections

The Global Connected Vehicle and Parking Space Industry Landscape Market is projected to experience substantial growth over the coming years. With a market value of 60.4 USD Billion in 2024, it is anticipated to expand to 227.8 USD Billion by 2035. This growth trajectory suggests a compound annual growth rate (CAGR) of 12.82% from 2025 to 2035. Such projections indicate a robust demand for connected vehicle technologies and innovative parking solutions, driven by factors such as urbanization, technological advancements, and changing consumer preferences. The market's expansion reflects the increasing integration of connectivity in the automotive sector.

Technological Advancements

The Global Connected Vehicle and Parking Space Industry Landscape Market is experiencing rapid growth due to advancements in technology. Innovations such as vehicle-to-everything (V2X) communication, artificial intelligence, and the Internet of Things (IoT) are enhancing vehicle connectivity and parking solutions. For instance, smart parking systems that utilize real-time data to guide drivers to available spaces are becoming increasingly prevalent. This technological evolution is projected to contribute significantly to the market, which is expected to reach 60.4 USD Billion in 2024 and grow to 227.8 USD Billion by 2035, indicating a robust CAGR of 12.82% from 2025 to 2035.

Consumer Demand for Convenience

Consumer demand for convenience is a significant driver of the Global Connected Vehicle and Parking Space Industry Landscape Market. Modern consumers increasingly seek seamless experiences, particularly in urban environments where parking can be a challenge. Connected vehicle technologies that offer features such as remote parking, reservation systems, and real-time availability updates cater to this demand. As consumers prioritize time-saving solutions, the market is likely to witness an uptick in the adoption of smart parking applications and connected vehicle features. This trend reflects a broader shift towards convenience-driven services in the transportation sector.

Urbanization and Population Growth

Urbanization and population growth are pivotal drivers of the Global Connected Vehicle and Parking Space Industry Landscape Market. As cities expand and populations increase, the demand for efficient transportation and parking solutions intensifies. The rise in vehicle ownership, particularly in developing regions, necessitates innovative parking strategies to alleviate congestion. This trend is underscored by the increasing number of vehicles on the road, which is projected to rise significantly in urban areas. Consequently, the market is poised for substantial growth, reflecting the urgent need for smart parking solutions that can accommodate the evolving urban landscape.

Government Initiatives and Regulations

Government initiatives and regulations play a crucial role in shaping the Global Connected Vehicle and Parking Space Industry Landscape Market. Many governments are actively promoting smart transportation solutions to enhance urban mobility and reduce environmental impact. Policies that incentivize the adoption of connected vehicles and smart parking technologies are becoming more common. For example, various countries are implementing regulations that require the integration of advanced safety features in vehicles, which indirectly boosts the demand for connected vehicle technologies. Such initiatives are likely to drive market growth as stakeholders align with regulatory frameworks aimed at fostering sustainable transportation.

Environmental Concerns and Sustainability

Environmental concerns and the push for sustainability are increasingly influencing the Global Connected Vehicle and Parking Space Industry Landscape Market. As awareness of climate change and pollution rises, there is a growing emphasis on reducing carbon emissions from vehicles. Connected vehicle technologies facilitate more efficient driving patterns and optimized parking solutions, contributing to lower emissions. Moreover, the integration of electric vehicles into the connected ecosystem further enhances sustainability efforts. This shift towards greener transportation options is expected to propel market growth as consumers and businesses prioritize environmentally friendly solutions.

Market Segment Insights

By Application: Smart Parking Solutions (Largest) vs. Mobile Parking Payment (Fastest-Growing)

In the Connected Vehicle Parking Space Industry., Smart Parking Solutions is the leading segment, commanding a significant share due to its widespread adoption and the increasing demand for advanced parking technologies. Following closely, Mobile Parking Payment solutions are quickly gaining traction, driven by the growing preference for seamless and convenient payment methods among users. Other segments, including Parking Reservation Systems and Real-Time Parking Availability, also contribute to the market but are positioned behind these leaders in terms of market share.

Smart Parking Solutions (Dominant) vs. Mobile Parking Payment (Emerging)

Smart Parking Solutions represent the dominant choice within the market, characterized by their integration of IoT and real-time data analytics that ensure optimized parking efficiency and enhanced user experience. These solutions typically include features such as occupancy sensors and dynamic pricing, allowing users to locate and reserve parking spaces in advance. Emerging rapidly, Mobile Parking Payment systems respond to consumer demands for convenience, enabling users to pay for parking through their smartphones. This segment is seeing an increase in app-based solutions and seamless transaction experiences, which positions it as a strong contender in the fast-evolving market.

By End Use: Passenger Vehicles (Largest) vs. Ride-Sharing Services (Fastest-Growing)

In the Connected Vehicle Parking Space Industry Landscape Market, the distribution among end use segments reveals that passenger vehicles hold the largest share. The widespread adoption of connected technologies in private cars has driven this category significantly. On the other hand, ride-sharing services are quickly gaining traction, showcasing an increase in reliance on flexible transportation solutions. As these services flourish, their impact on parking needs is expected to rise, restructuring the market dynamics.

Passenger Vehicles: Dominant vs. Ride-Sharing Services: Emerging

Passenger vehicles represent the dominant segment in the Connected Vehicle Parking Space Industry, characterized by high ownership rates and increasing integration of smart technologies. This segment benefits from the growing consumer demand for personalized and convenient parking solutions. In contrast, ride-sharing services, while currently emerging, are recognized for their rapid expansion due to societal shifts toward shared mobility and urbanization. The correlation between the growth of ride-sharing platforms and innovations in connected vehicle technologies is crucial, as it shapes the future landscape of parking requirements and the industry's operational frameworks.

By Technology: Internet of Things (Largest) vs. Artificial Intelligence (Fastest-Growing)

In the Connected Vehicle Parking Space Industry, the Internet of Things (IoT) clearly dominates the technology segment. Its pervasive integration into vehicle systems and parking solutions has established it as the backbone of smart parking. IoT-enabled sensors and devices streamline parking processes, improve user experience, and enhance data collection. On the other hand, Artificial Intelligence (AI) follows closely behind, marking itself as the fastest-growing segment. AI technologies are increasingly utilized for analytics, predictive modeling, and automation in parking management systems, empowering a more efficient and intelligent parking experience. As the demand for smart cities escalates, both segments are expected to thrive. The growth of IoT is fueled by the need for seamless connectivity and real-time data interaction. Meanwhile, Artificial Intelligence is set to revolutionize operations through advanced pattern recognition and machine learning capabilities. These technologies will transform how vehicles interact with their environment, supporting the evolution of smart parking solutions.

Technology: IoT (Dominant) vs. AI (Emerging)

In the context of the Connected Vehicle Parking Space, the Internet of Things (IoT) represents a dominant force, enabling interconnectivity between vehicles and parking infrastructure. It empowers various applications, such as real-time space availability, automated payment systems, and enhanced navigation. The seamless communication facilitated by IoT devices allows for effective data management and operational efficiency. Conversely, Artificial Intelligence (AI) is an emerging player, gaining traction for its ability to analyze vast amounts of data quickly and derive actionable insights. With applications in predictive analysis and user experience enhancements, AI is becoming instrumental in optimizing parking operations. As both technologies evolve, their interplay is likely to further innovate and improve smart parking solutions.

By Vehicle Type: Connected Vehicles (Largest) vs. Electric Vehicles (Fastest-Growing)

The Connected Vehicle Parking Space Industry is experiencing a substantial transformation driven by diverse vehicle types. In this segment, Connected Vehicles hold the largest market share, primarily due to their integration of technology that enhances parking solutions and provides real-time data for better user experiences. Electric Vehicles, while they may have a smaller share currently, are rapidly gaining ground, thanks to their increasing popularity and the growing necessity for sustainable transportation solutions among consumers.

Connected Vehicles (Dominant) vs. Electric Vehicles (Emerging)

Connected Vehicles are playing a crucial role in the industry, showcasing advanced technology that enables seamless connectivity, real-time information, and improved logistics for parking solutions. Their prevailing presence is attributed to their established infrastructure and the growing adoption of smart city concepts, which facilitate enhanced user experience in urban settings. Meanwhile, Electric Vehicles are emerging as a significant segment in the market. With the global shift towards sustainability and increased government incentives, this segment is expanding rapidly. As consumer preferences shift, Electric Vehicles not only contribute to reducing emissions but also optimize parking spaces through apps and smart management systems that cater specifically to their unique needs.

By Service Type: Subscription Services (Largest) vs. Pay-Per-Use Services (Fastest-Growing)

The Connected Vehicle Parking Space Industry Landscape Market showcases a diverse service type segment, with Subscription Services leading the charge as the largest segment by market share. Subscription Services provide users with consistent access to parking solutions, fostering customer loyalty and engagement. Pay-Per-Use Services, while in the second position, are rapidly growing in popularity due to their flexibility and appeal to users seeking short-term solutions. The emergence of new technologies and increased vehicle connectivity is significantly influencing this distribution.

Service Type: Subscription Services (Dominant) vs. Pay-Per-Use Services (Emerging)

Subscription Services dominate the Connected Vehicle Parking Space Industry by offering stable and predictable pricing models that appeal to regular users and businesses alike. This service type provides convenience and guarantees for recurring access to parking spaces, bolstering user compliance. On the flip side, Pay-Per-Use Services are emerging as an attractive option for occasional users who prefer on-demand access without long-term commitments. This flexibility appeals to urban drivers who may need parking sporadically, allowing them to pay solely for the times they utilize parking solutions.

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Regional Insights

North America : Market Leader in Innovation

North America is poised to maintain its leadership in the Connected Vehicle Parking Space Industry, holding a market share of 30.0 in 2025. The growth is driven by increasing urbanization, rising vehicle ownership, and a growing demand for smart city solutions. Regulatory support for sustainable transportation and smart infrastructure further catalyzes this growth, making it a hotbed for innovation in parking technologies. The competitive landscape is robust, with key players like ParkMobile, SpotHero, and ParkWhiz leading the charge. The U.S. is the primary market, supported by a strong technological ecosystem and investment in smart parking solutions. Companies are focusing on enhancing user experience through mobile applications and real-time data analytics, ensuring a competitive edge in this rapidly evolving market.

Europe : Emerging Market with Potential

Europe is witnessing a significant transformation in the Connected Vehicle Parking Space Industry, with a market size of 15.0 in 2025. The region benefits from stringent regulations aimed at reducing emissions and promoting sustainable urban mobility. Initiatives like the European Green Deal are driving demand for smart parking solutions, as cities seek to optimize space and reduce congestion through technology. Leading countries such as Germany, France, and the UK are at the forefront of this shift, with companies like JustPark and Flowbird making substantial contributions. The competitive landscape is characterized by a mix of established players and innovative startups, all vying to capture market share in this evolving sector. The focus on user-friendly applications and integration with public transport systems is expected to enhance market growth.

Asia-Pacific : Rapid Growth and Adoption

Asia-Pacific is rapidly emerging as a significant player in the Connected Vehicle Parking Space Industry, with a market size of 10.0 in 2025. The region's growth is fueled by increasing urbanization, a burgeoning middle class, and government initiatives promoting smart city projects. Countries like China and Japan are investing heavily in technology to enhance urban mobility, driving demand for connected parking solutions. China leads the market, with numerous startups and established companies focusing on innovative parking solutions. The competitive landscape is diverse, featuring local players and international firms. The presence of key players like EasyPark and ParkMe highlights the region's potential for growth, as they adapt to local needs and preferences, ensuring a competitive edge in this dynamic market.

Middle East and Africa : Untapped Market Opportunities

The Middle East and Africa region is gradually emerging in the Connected Vehicle Parking Space Industry, with a market size of 5.43 in 2025. The growth is driven by increasing urbanization, a rise in vehicle ownership, and government initiatives aimed at enhancing urban infrastructure. Countries like the UAE and South Africa are investing in smart city projects, creating opportunities for connected parking solutions. The competitive landscape is still developing, with a mix of local and international players entering the market. Companies are focusing on innovative solutions to address parking challenges in densely populated urban areas. The presence of key players is expected to grow as the region embraces technology to improve urban mobility and parking efficiency.

Key Players and Competitive Insights

The Connected Vehicle Parking Space Industry Landscape Market is currently characterized by a dynamic competitive environment, driven by technological advancements and increasing urbanization. Key players such as ParkMobile (US), SpotHero (US), and EasyPark (SE) are actively shaping the market through innovative solutions and strategic partnerships. ParkMobile (US) has positioned itself as a leader in mobile parking solutions, focusing on enhancing user experience through seamless app integration and real-time availability updates. SpotHero (US), on the other hand, emphasizes its extensive network of parking facilities, leveraging data analytics to optimize parking space utilization. EasyPark (SE) is notable for its commitment to sustainability, integrating eco-friendly practices into its operations, which resonates with the growing consumer demand for environmentally responsible services. Collectively, these strategies contribute to a competitive landscape that is increasingly focused on technological integration and customer-centric solutions.

In terms of business tactics, companies are increasingly localizing their operations to better serve regional markets, which appears to enhance their responsiveness to local demand. The market structure is moderately fragmented, with several players vying for market share, yet the influence of major companies is palpable. This competitive structure fosters innovation, as companies strive to differentiate themselves through unique offerings and enhanced service delivery.

In November 2025, ParkWhiz (US) announced a strategic partnership with a leading electric vehicle (EV) manufacturer to provide dedicated parking solutions for EV users. This move is significant as it aligns with the growing trend towards electrification in the automotive sector, potentially increasing ParkWhiz's market share among environmentally conscious consumers. The partnership not only enhances ParkWhiz's service portfolio but also positions the company favorably within the evolving landscape of sustainable transportation.

In October 2025, JustPark (GB) launched an AI-driven feature within its app that predicts parking availability based on historical data and real-time traffic conditions. This innovation is crucial as it addresses a common pain point for drivers, thereby enhancing user satisfaction and loyalty. By leveraging AI, JustPark (GB) demonstrates its commitment to technological advancement, which could lead to increased user engagement and retention in a competitive market.

In September 2025, Flowbird (FR) expanded its operations into several new European cities, enhancing its footprint in the connected parking space. This expansion is indicative of Flowbird's strategy to capitalize on the growing demand for smart city solutions. By entering new markets, Flowbird (FR) not only diversifies its revenue streams but also strengthens its competitive position against other players in the industry.

As of December 2025, the competitive trends within the Connected Vehicle Parking Space Industry Landscape Market are increasingly defined by digitalization, sustainability, and the integration of artificial intelligence. Strategic alliances are becoming more prevalent, as companies recognize the value of collaboration in enhancing service offerings and expanding market reach. Looking ahead, it is likely that competitive differentiation will evolve, shifting from traditional price-based competition to a focus on innovation, technological advancements, and supply chain reliability. This transition underscores the importance of adaptability and forward-thinking strategies in maintaining a competitive edge.

Key Companies in the Connected Vehicle & Parking Space Industry Landscape Market market include

Industry Developments

Recent developments in the Global Connected Vehicle and Parking Space Industry have seen significant advancements as companies continue to innovate and expand their market presence. Toyota and General Motors are increasingly investing in connected vehicle technology, aiming to enhance user experiences and safety features.

Volkswagen is also focusing on developing smart parking solutions to streamline urban mobility. In the tech space, Cisco Systems and Qualcomm are collaborating on IoT initiatives to improve connectivity in vehicles. Noteworthy is Daimler's push towards automated driving technologies, which is influencing the entire industry.

Apple and Tesla have made strides in integrating their platforms with advanced vehicle-to-everything (V2X) communication, while Ford Motor and Honda are exploring partnerships that augment their electric vehicle offerings with connected tech.

Recent mergers and acquisitions, particularly among these players, indicate a competitive landscape with a focus on enhancing technological capabilities and market reach. BMW and Samsung Electronics are also exploring synergies that could lead to innovative connected vehicle features.

As the market continues to evolve, growth in valuation among these companies reflects increasing investment and consumer demand for enhanced connected vehicle solutions and smart parking systems.

Future Outlook

Connected Vehicle & Parking Space Industry Landscape Market Future Outlook

The Connected Vehicle Parking Space Industry Landscape Market is projected to grow at a 12.82% CAGR from 2024 to 2035, driven by urbanization, technological advancements, and increasing demand for efficient parking solutions.

New opportunities lie in:

  • Integration of AI-driven parking management systems
  • Development of mobile apps for real-time parking availability
  • Partnerships with municipalities for smart city initiatives

By 2035, the market is expected to be robust, driven by innovation and strategic partnerships.

Market Segmentation

Connected Vehicle Parking Space Industry Landscape Market End Use Outlook

  • Commercial Vehicles
  • Passenger Vehicles
  • Public Transport
  • Ride-Sharing Services
  • Fleet Management

Connected Vehicle Parking Space Industry Landscape Market Technology Outlook

  • Internet of Things
  • Artificial Intelligence
  • Cloud Computing
  • Mobile Applications
  • Sensor Technology

Connected Vehicle Parking Space Industry Landscape Market Application Outlook

  • Smart Parking Solutions
  • Parking Reservation Systems
  • Real-Time Parking Availability
  • Automated Parking Management
  • Mobile Parking Payment

Connected Vehicle Parking Space Industry Landscape Market Service Type Outlook

  • Subscription Services
  • Pay-Per-Use Services
  • Freemium Services
  • Value-Added Services
  • On-Demand Services

Connected Vehicle Parking Space Industry Landscape Market Vehicle Type Outlook

  • Connected Vehicles
  • Electric Vehicles
  • Hybrid Vehicles
  • Internal Combustion Engine
  • Autonomous Vehicles

Report Scope

MARKET SIZE 2024 60.43(USD Billion)
MARKET SIZE 2025 68.18(USD Billion)
MARKET SIZE 2035 227.82(USD Billion)
COMPOUND ANNUAL GROWTH RATE (CAGR) 12.82% (2024 - 2035)
REPORT COVERAGE Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
BASE YEAR 2024
Market Forecast Period 2025 - 2035
Historical Data 2019 - 2024
Market Forecast Units USD Billion
Key Companies Profiled ParkMobile (US), SpotHero (US), ParkWhiz (US), JustPark (GB), EasyPark (SE), ParkMe (US), Parkopedia (GB), Flowbird (FR), Smarking (US)
Segments Covered Application, End Use, Technology, Vehicle Type, Service Type
Key Market Opportunities Integration of smart parking solutions with connected vehicle technologies enhances urban mobility and efficiency.
Key Market Dynamics Technological advancements in connectivity enhance parking efficiency, driving competitive dynamics in the Connected Vehicle Parking Space market.
Countries Covered North America, Europe, APAC, South America, MEA

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FAQs

What is the expected market size of the Connected Vehicle and Parking Space Industry Landscape Market by 2034?

The market is expected to be valued at 201.93 USD Billion by 2034.

What is the Compound Annual Growth Rate (CAGR) for the Connected Vehicle and Parking Space Industry Landscape Market from 2025 to 2034?

The market is anticipated to grow at a CAGR of 12.82% from 2025 to 2034.

Which region is projected to have the largest market share in the Connected Vehicle and Parking Space Industry Landscape Market by 2032?

North America is projected to dominate the market with an expected value of 56.0 USD Billion by 2032.

What will be the market value for Passenger Vehicles in the Connected Vehicle and Parking Space Industry Landscape Market by 2032?

The market value for Passenger Vehicles is expected to reach 60.0 USD Billion by 2032.

How much is the market value for Electric Vehicles in the Connected Vehicle and Parking Space Industry Landscape Market expected to grow by 2032?

The market value for Electric Vehicles is projected to grow to 20.0 USD Billion by 2032.

What is the anticipated market size for Commercial Vehicles in the Connected Vehicle and Parking Space Industry Landscape Market by 2032?

The market size for Commercial Vehicles is expected to reach 30.0 USD Billion by 2032.

Who are the major players in the Connected Vehicle and Parking Space Industry Landscape Market?

Major players include Toyota, General Motors, Volkswagen, Cisco Systems, Daimler, and others.

How much is the Connected Vehicle and Parking Space Industry Landscape Market valued for Two-Wheelers by 2032?

The market value for Two-Wheelers is expected to amount to 15.0 USD Billion by 2032.

What is the market size estimate for the Middle East and Africa (MEA) region in the Connected Vehicle and Parking Space Industry Landscape Market by 2032?

The MEA region is expected to reach a market size of 9.5 USD Billion by 2032.

What growth opportunities are present in the Connected Vehicle and Parking Space Industry Landscape Market?

Emerging trends such as electrification and autonomous driving are expected to drive growth opportunities in the market.

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