Smart Parking Market Research Report - Global Forecast to 2027

Smart Parking Market Information Report by Parking Site (On-Street and Off-Street), Technology (SmartApp, In-Ground Vehicle Detection Sensor, RFID, Ultrasonic, and Others), and region - Forecast till 2027

ID: MRFR/AM/1708-CR | January 2018 | Region: Global | 100 pages

Please note that the assessment period of report has been updated from 2017-2023 to 2020-2027. Cordially fill the sample form for updated data.

Market Overview


Global Smart Parking Market is expected to grow at CAGR of around 10.97% during the period 2017 to 2023. While, on the one hand, urbanization is taking place globally, technology is getting advanced too. The speed at which these advancements are being adopted is increasing at a fast pace. Safe parking is one of the significant challenges being faced in big cities. Smart parking is one of the most adopted and convenient ways to ensure that vehicles are safe even after less space. Primary uses of these intelligent parking systems take place in universities, airports and shopping complexes. The basic technology behind an intelligent parking system is its ability to automatically make connections, analyze, and gather data from the devices. The internet powers these systems, and it makes smart parking possible. The entire system can also get many small and budget-friendly sensors and set up their collaborations to achieve parameters like sound, temperature, vibrations, water quality, and pressure. Moreover, the navigation systems that enable the drivers to locate parking for themselves using the GPS is another recent technology that has taken over the drivers across the world to the next level of ease and comfort.


COVID-19 Analysis


Coronavirus pandemic has bought some serious backs in the life of every individual and every business. Something that has happened without warning and left all the company in the middle of nowhere. While they look forward to get things sorted, they are also clueless about where and how to start. The reports provided to them gives them the in-depth analysis done by the experts about everything that the Smart Parking Market Trends is currently through and what steps do they need to take to step themselves up for the ladder of success. Apart from this, the analysis of the competitors in the market and the latest advancement to ensure that they are on the right track is also provided. Small things have proven to bring more considerable and unexpected changes, and these are required for every business in the smart parking Industry at present. The reports also have the strategic implementations and the plans that are being followed by the key players in the Global smart parking industry. This is something that enables the business to introspect themselves in terms of their situation in the market. They can then work accordingly on themselves.


Market Dynamics


Most developed countries and even those which are developing are facing the struggles of parking the vehicles. An intelligent parking system is one of the best ways to combat this problem. The planning policies of the governments have aimed at a tremendous growth of the smart parking Market Size. There has been an increase in the number of new parking spaces, and multi-story car parking has also been introduced at various places. Within the last few years, technological advancements have taken place in intelligent parking systems and it has resulted in more efficient and more precise parking. User experience has also increased to many folds. The significant factors that have affected the smart parking industry Value include introducing self-driven cars and the increased investments in the technologies related to the same. The introduction of mobile applications to search for car parking areas and photos and other information has also boosted its growth.


Regulatory Implications


There have been numerous regulatory implications on the smart parking Market Revenue not only on the local and regional levels but also on the country-wise level. More cars and vehicles are getting registered in almost every part of the world. In other words, there are different norms imposed by foreign governments. While most of the world's regions are taking their steps further towards advancement, and more vehicles are getting added regularly, managing the cars' parking is getting complicated. That is where the prominent role of smart parking comes into the picture. Utilizing ultra-modern technologies and ensuring safe and easy parking for the vehicles is what these bring along. While the governments have taken steps to reduce traffic congestion, especially in highly populated regions, smart parking has been the savior.


Segmentation


The global Market Outlook is segmented into three major segments:



  • Segmentation by solutions

  • Segmentation by parking site

  • Segmentation by application


Base on the solutions, the Market Trends is subdivided into the following:



  • Security and surveillance.

  • Parking reservations and valet

  • Others


Parking reservations and valet has been in trend in most of the areas in the market.


Based on the parking site, the market can be sub-classified as



  • On street

  • Offf-street


The off-street segment accounts for the most significant share in the market. These are the spaces tartar used for parking the vehicles, not on the roads.


Based on application, the market can be classified as follows:



  • Governmental

  • Transport transit

  • Commercial


Amongst these segments, commercial vehicles have been dominating the smart parking Market Size for quite some time now.


Smart Parking Market, By Segmentation


 Smart Parking Market, By Segmentation


Source: MRFR Analysis


Regional Analysis


The smart parking Market Growth is primarily divided into four subtypes depending upon the regions. These are:



  • Europe

  • North America

  • Asia pacific

  • Rest of the world


The region that dominates the smart parking Market Share in North America because the major solution providers are located in the US. It has been focusing on the navigation of the lot parking from quotes for some time now. The spot parking enables the drivers to find a parking space for themselves even in heavy traffic areas. Currently, there are 800 million spaces for parking in North America. The Asia Pacific expects the highest and the fastest smart parking Market Growth because of the increase in vehicles' manufacturing in developing countries like India and China.


The European smart parking industry Value is also towards an upward trend and will reach the desired level within a short period.


Competitive Landscape


The major companies that dominate the global smart parking Market Revenue are IPS Group Inc., Amano McCann Inc., Smart parking limited which is based in Australia, IEM SA, which is a Switzerland based company; Klaus multi parking system which is based in Germany, Mindteck, which is an Indian company and Park layer which is also found in India.


All these key competitors have formed strategic planning and implementation systems that have made them reach the current level. Not only for themselves, but they have contributed a lot towards the smart parking Market Analysis. They aim at bringing out new technologies and advancements and flourish the call to the fullest.


Recent developments


Recent developments in the smart parking Market Outlook include:



  • In September 2017, Amano McCann collaborated with ITR to expand its business in South Carolina. The company has collaborated with many different companies in various parts globally to grow its business. Its partnership in 2015 led to the introduction of EMV to the intelligent parking system.

  • In March 2017, smart parking limited, a new intelligent spot gateway solution, was launched to meet competent city operators' requirements. 

  • In 2016, intelligent parking systems expanded their business at Fistral Beach and successfully provided a smart parking system at the beach.

  • In 2016, a new brand of IEM SA was launched under the name Preston park. It has unique online portals that have led to an easy life for the drivers.

  • In 2017, CMMI institute and Mindteck partnered with each other to provide an effective processing system to the company and improve performance.


Report Overview


The report prepared for the Global innovative parking system consists primarily of the extensive research that the experts and the analysts have conducted. These provide detailed qualitative and quantitative facets of the various experts in the smart parking Industry. After gaining adapter insight about the smart parking Market Share and the performance, the analysts have prepared an extensive report that would ensure that they get the most of them. The report also provides a crystal-clear picture of the smart parking Market Analysis, present scenario, including history. This report is useful to all those looking for the market trends and forecasts.



Report Scope:
Report Attribute/Metric Details
  Market Size   2027: Significant Value
  CAGR   10.97% CAGR (2020-2027)
  Base Year   2019
  Forecast Period   2020-2027
  Historical Data   2018
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Parking Site, Technology, Region
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Amano McGann, Inc. (U.S.), IEM SA (Switzerland), Smart Parking Limited (Australia), IPS Group Inc. (U.S.), among others.
  Key Market Opportunities

  • Increase in the number of new parking spaces, and multi-story car parking has also been introduced at various places
  • Increased investments in the technologies
  • Increase in vehicles' manufacturing in developing countries
  •   Key Market Drivers

  • Increasing at a fast pace. Safe parking is one of the significant challenges being faced in big cities
  • Introduction of mobile applications to search for car parking areas and photos and other information


  • Frequently Asked Questions (FAQ) :


    The global smart parking market is expected to record a substantial market valuation.

    The global smart parking market is projected to register a moderate 10.97% CAGR in the forecast period.

    Technological advancements, rapid urbanization, and increasing traffic conjestion are driving the growth of the market.

    the lack of awareness and technical limitations are likely to hamper the growth of the smart parking market over the review period.

    The off-street segment is slated to expand as the fastest-growing segment.

    A few major market players operating in the global smart parking market are Amano McGann, Inc. (U.S.), IEM SA (Switzerland), Smart Parking Limited (Australia), IPS Group Inc. (U.S.), among others.

    The segment that is expected to achieve the highest expansion is the Off-street segment.

    1 Executive Summary

    2 Introduction

    2.1 Definition 12

    2.2 Scope Of The Study 12

    2.3 Assumptions 12

    2.4 Market Structure 13

    3 Research Methodology

    3.1 Research Process 14

    3.2 Primary Research 14

    3.3 Secondary Research 15

    3.4 Market Size Estimation 15

    3.5 Forecast Model 17

    4 Market Dynamics

    4.1 Drivers 18

    4.1.1 Smart Cities Solutions For Connected Demands 18

    4.1.2 Smart Parking Systems Emerge As Ideal Solution To Several Environmental And Economic Issues 19

    4.2 Restraint: 19

    4.2.1 Low Organizational Awareness Of Smart Parking Benefits 19

    4.3 Opportunity 19

    4.3.1 Growth Of Smart Parking In Emerging Economies 19

    5 Market Factor Analysis

    5.1 Porter’s Five Forces Analysis 20

    5.1.1 Threat From New Entrants 20

    5.1.2 Bargaining Power Of Buyers 21

    5.1.3 Bargaining Power Of Supplier 21

    5.1.4 Threat From Substitutes 21

    5.1.5 Rivalry 21

    5.2 Value Chain Analysis 22

    6 Global Smart Parking Market, By Parking Site

    6.1 Overview 24

    7 Global Smart Parking Market, By Technology

    7.1 Overview 27

    8 Global Smart Parking Market, By Region

    8.1 Introduction 31

    8.2 North America 33

    8.2.1 U.S. 37

    8.2.2 Canada 39

    8.3 Europe 41

    8.3.1 Germany 45

    8.3.2 U.K. 46

    8.3.3 France 48

    8.3.4 Rest Of Europe 50

    8.4 Asia Pacific 52

    8.4.1 China 56

    8.4.2 Japan 58

    8.4.3 India 60

    8.4.4 Rest Of Asia Pacific 62

    8.5 Rest Of The World 64

    8.5.1 Latin America 68

    8.5.2 Middle East & Africa 70

    9 Competitive Landscape

    9.1 Competitive Landscape 72

    9.2 Market Share Analysis 73

    9.3 Product Benchmarking 73

    10 Company Profile

    10.1 Amano McGann, Inc. 74

    10.1.1 Company Overview 74

    10.1.2 Financial Overview 74

    10.1.3 Product/Service Offering 74

    10.1.4 Strategy 75

    10.1.5 SWOT Analysis 76

    10.2 Smart Parking Limited 77

    10.2.1 Company Overview 77

    10.2.2 Financial Overview 77

    10.2.3 Product/Service Offering 78

    10.2.4 Strategy 78

    10.2.5 SWOT Analysis 79

    10.3 IEM SA 80

    10.3.1 Company Overview 80

    10.3.2 Financial Overview 80

    10.3.3 Product/Service Offering 80

    10.3.4 Strategy 80

    10.3.5 SWOT Analysis 81

    10.4 IPS Group 82

    10.4.1 Company Overview 82

    10.4.2 Financial Overview 82

    10.4.3 Product/Service Offering 82

    10.4.4 Strategy 83

    10.5 Klaus Multiparking Systems 84

    10.5.1 Company Overview 84

    10.5.2 Financial Overview 84

    10.5.3 Product/Service Offering 84

    10.5.4 Strategy 84

    10.6 ParkLAyer 85

    10.6.1 Overview 85

    10.6.2 Financial Overview 85

    10.6.3 Product Offering 85

    10.6.4 Strategy 85

    10.7 Omnitec 86

    10.7.1 Overview 86

    10.7.2 Financial Overview 86

    10.7.3 Product Offerings 86

    10.7.4 Strategy 87

    10.8 Mindteck 88

    10.8.1 Company Overview 88

    10.8.2 Financial Overview 89

    10.8.3 Strategy 90

    10.9 Robert Bosch GmbH 92

    10.9.1 Company Overview 92

    10.9.2 Financial Overview 92

    10.9.3 Geographic Revenue Mix, 2020 (%) 93

    10.9.4 Product Offerings 93

    10.9.5 Strategy 93

    10.10 Dongyang Menics Co, Ltd 94

    10.10.1 Company Overview 94

    10.10.2 Financial Overview 94

    10.10.3 Product Offerings 94

    10.10.4 Strategy 94


    11 List Of Tables

    TABLE 1 GLOBAL SMART PARKING MARKET, BY PARKING SITE, 2020-2027 (USD MILLION) 25

    TABLE 1 GLOBAL SMART PARKING MARKET, BY TECHNOLOGY, 2020-2027 (USD MILLION) 28

    TABLE 2 GLOBAL SMART PARKING MARKET, BY REGION, 2020-2027 (USD MILLION) 32

    TABLE 3 NORTH AMERICA: SMART PARKING MARKET, BY COUNTRY, 2014-2022 (USD MILLION) 34

    TABLE 4 NORTH AMERICA: SMART PARKING MARKET, BY PARKING SITE, 2020-2027 (USD MILLION) 35

    TABLE 5 NORTH AMERICA: SMART PARKING MARKET, BY TECHNOLOGY, 2020-2027 (USD MILLION) 36

    TABLE 6 U.S.: SMART PARKING MARKET, BY PARKING SITE, 2020-2027 (USD MILLION) 37

    TABLE 7 U.S.: SMART PARKING MARKET, BY TECHNOLOGY, 2020-2027 (USD MILLION) 38

    TABLE 8 CANADA: SMART PARKING MARKET, BY PARKING SITE, 2020-2027 (USD MILLION) 39

    TABLE 9 CANADA: SMART PARKING MARKET, BY TECHNOLOGY, 2020-2027 (USD MILLION) 40

    TABLE 10 EUROPE: SMART PARKING MARKET, BY COUNTRY, 2020-2027 (USD MILLION) 42

    TABLE 11 EUROPE: SMART PARKING MARKET, BY PARKING SITE, 2020-2027 (USD MILLION) 43

    TABLE 12 EUROPE: SMART PARKING MARKET, BY TECHNOLOGY, 2020-2027 (USD MILLION) 44

    TABLE 13 GERMANY: SMART PARKING MARKET, BY PARKING SITE, 2020-2027 (USD MILLION) 45

    TABLE 14 GERMANY: SMART PARKING MARKET, BY TECHNOLOGY, 2020-2027 (USD MILLION) 46

    TABLE 15 U.K.: SMART PARKING MARKET, BY PARKING SITE, 2020-2027 (USD MILLION) 47

    TABLE 16 U.K.: SMART PARKING MARKET, BY TECHNOLOGY, 2020-2027 (USD MILLION) 47

    TABLE 17 FRANCE: SMART PARKING MARKET, BY PARKING SITE, 2020-2027 (USD MILLION) 48

    TABLE 18 FRANCE: SMART PARKING MARKET, BY TECHNOLOGY, 2020-2027 (USD MILLION) 49

    TABLE 19 REST OF EUROPE: SMART PARKING MARKET, BY PARKING SITE, 2020-2027 (USD MILLION) 50

    TABLE 20 REST OF EUROPE: SMART PARKING MARKET, BY TECHNOLOGY, 2020-2027 (USD MILLION) 51

    TABLE 21 ASIA PACIFIC: SMART PARKING MARKET, BY COUNTRY, 2020-2027 (USD MILLION) 53

    TABLE 22 ASIA PACIFIC: SMART PARKING MARKET, BY PARKING SITE, 2020-2027 (USD MILLION) 54

    TABLE 23 ASIA PACIFIC: SMART PARKING MARKET, BY TECHNOLOGY, 2020-2027 (USD MILLION) 55

    TABLE 24 CHINA: SMART PARKING MARKET, BY PARKING SITE, 2020-2027 (USD MILLION) 56

    TABLE 25 CHINA: SMART PARKING MARKET, BY TECHNOLOGY, 2020-2027 (USD MILLION) 57

    TABLE 26 JAPAN: SMART PARKING MARKET, BY PARKING SITE, 2020-2027 (USD MILLION) 58

    TABLE 27 JAPAN: SMART PARKING MARKET, BY TECHNOLOGY, 2020-2027 (USD MILLION) 59

    TABLE 28 INDIA: SMART PARKING MARKET, BY PARKING SITE, 2020-2027 (USD MILLION) 60

    TABLE 29 INDIA: SMART PARKING MARKET, BY TECHNOLOGY, 2020-2027 (USD MILLION) 61

    TABLE 30 REST OF ASIA PACIFIC: SMART PARKING MARKET, BY PARKING SITE, 2020-2027 (USD MILLION) 62

    TABLE 31 REST OF ASIA PACIFIC: SMART PARKING MARKET, BY TECHNOLOGY, 2020-2027 (USD MILLION) 63

    TABLE 32 REST OF THE WORLD: SMART PARKING MARKET, BY COUNTRY, 2020-2027 (USD MILLION) 65

    TABLE 33 REST OF THE WORLD: SMART PARKING MARKET, BY PARKING SITE, 2020-2027 (USD MILLION) 66

    TABLE 34 REST OF THE WORLD: SMART PARKING MARKET, BY TECHNOLOGY, 2020-2027 (USD MILLION) 67

    TABLE 35 LATIN AMERICA: SMART PARKING MARKET, BY PARKING SITE, 2020-2027 (USD MILLION) 68

    TABLE 36 LATIN AMERICA: SMART PARKING MARKET, BY TECHNOLOGY, 2020-2027 (USD MILLION) 69

    TABLE 37 MIDDLE EAST & AFRICA: SMART PARKING MARKET, BY PARKING SITE, 2020-2027, (USD MILLION) 70

    TABLE 38 MIDDLE EAST & AFRICA: SMART PARKING MARKET, BY TECHNOLOGY, 2020-2027, (USD MILLION) 71


    12 List Of Figures

    FIGURE 1 RESEARCH PROCESS OF MRFR 14

    FIGURE 2 TOP DOWN & BOTTOM UP APPROACH 16

    FIGURE 3 RATE OF GROWTH OF SMART CITIES (%) 18

    FIGURE 4 PORTER’S FIVE FORCES ANALYSIS OF SMART PARKINGS MARKET 20

    FIGURE 5 GLOBAL SMART PARKING MARKET, BY PARKING SITE, 2020 (IN %) 24

    FIGURE 6 GLOBAL SMART PARKING MARKET, BY TECHNOLOGY, 2020 (IN %) 27

    FIGURE 7 GLOBAL SMART PARKING MARKET, BY REGION, 2020 TO 2027 (USD MILLION) 31

    FIGURE 8 NORTH AMERICA: SMART PARKING MARKET SHARE, BY COUNTRY, 2015 (% SHARE) 34

    FIGURE 9 NORTH AMERICA: SMART PARKING MARKET, BY PARKING SITE, 2020 (%) 35

    FIGURE 10 U.S.: SMART PARKING MARKET, BY PARKING SITE, 2020 (%) 37

    FIGURE 11 CANADA: SMART PARKING MARKET, BY PARKING SITE, 2020 (%) 39

    FIGURE 12 EUROPE: SMART PARKING MARKET SHARE, BY REGION, 2020 (% SHARE) 42

    FIGURE 13 EUROPE: SMART PARKING MARKET, BY PARKING SITE, 2020 (%) 43

    FIGURE 14 GERMANY: SMART PARKING MARKET, BY PARKING SITE, 2020 (%) 45

    FIGURE 15 U.K.: SMART PARKING MARKET, BY PARKING SITE, 2020 (%) 46

    FIGURE 16 FRANCE: SMART PARKING MARKET, BY PARKING SITE, 2020 (%) 48

    FIGURE 17 REST OF EUROPE: SMART PARKING MARKET, BY PARKING SITE, 2020 (%) 50

    FIGURE 18 ASIA PACIFIC: SMART PARKING MARKET SHARE, BY REGION, 2020 (% SHARE) 53

    FIGURE 19 ASIA PACIFIC: SMART PARKING MARKET, BY PARKING SITE, 2020 (%) 54

    FIGURE 20 CHINA: SMART PARKING MARKET, BY PARKING SITE, 2020 (%) 56

    FIGURE 21 JAPAN: SMART PARKING MARKET, BY PARKING SITE, 2020 (%) 58

    FIGURE 22 INDIA: SMART PARKING MARKET, BY PARKING SITE, 2020 (%) 60

    FIGURE 23 REST OF ASIA PACIFIC: SMART PARKING MARKET, BY PARKING SITE, 2020 (%) 62

    FIGURE 24 REST OF THE WORLD: SMART PARKING MARKET SHARE, BY REGION, 2020 (% SHARE) 64

    FIGURE 25 REST OF THE WORLD: SMART PARKING MARKET, BY PARKING SITE, 2020 (%) 66

    FIGURE 26 LATIN AMERICA: SMART PARKING MARKET, BY PARKING SITE, 2020 (%) 68

    FIGURE 27 MIDDLE EAST & AFRICA: SMART PARKING MARKET, BY PARKING SITE, 2020 (%) 70

    FIGURE 28 GROWTH STRATEGIES ADOPTED BY KEY PLAYERS IN GLOBAL SMART PARKING MARKET, 2015-2017, (%) 72

    FIGURE 29 AMANO MCGANN, INC: KEY DEVELOPMENTS, 2020-2027 (%) 75

    FIGURE 30 AMANO MCGANN: SWOT ANALYSIS 76

    FIGURE 31 FINANCIAL OVERVIEW: TOTAL REVENUE VS SEGMENTAL REVENUE (TECHNOLOGY), 2015-2020 (USD MILLION) 77

    FIGURE 32 SMART PARKING LIMITED: GEOGRAPHIC REVENUE MIX, 2020 (%) 78

    FIGURE 33 SMART PARKING LIMITED: KEY DEVELOPMENTS, 2020-2027 (%) 79

    FIGURE 34 FINANCIAL OVERVIEW: TOTAL REVENUE VS SEGMENTAL REVENUE (SOFTWARE SERVICES), 2020-2027 (USD MILLION) 89

    FIGURE 35 MINDTECK: GEOGRAPHIC REVENUE MIX, 2020 (%) 89

    FIGURE 36 MINDTECK: KEY DEVELOPMENTS, 2020-2027 (%) 91