Global Smart Parking Market Research Report - Forecast to 2023

Global Smart Parking Market Research Report - Forecast to 2023

ID: MRFR/IA - E/1708-CRR | January, 2018 | Region: Global | 100 pages | Cooked Research Reports

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.


Market Scenario


Smart Parking is the system that helps the driver to find the vacant spot for parking the vehicle. The parking system detects the parking space with the help of sensors and directs the drivers about the vacant space. The various technologies that are used in smart parking are smartapp, ultrasonic, RFID, and others. The smart parking market is expected to grow at CAGR of around 10.97% during the period 2017 to 2023.


The factors that are responsible for the growth of smart parking market are smart cities solutions for connected demands and smart parking systems emerge as ideal solution to several environmental and economic issues. The world is witnessing increasing urbanization while technology has been incorporated by cities for many years. However, the pace at which this adoption takes place is increasing, rapidly, as disruptive digital technologies have the potential to solve major metropolitan challenges such as safe parking. Smart cities hold the promise to make urban areas better  efficient and more secure. Smart parking is the most adopted and fastest growing solution across the airports, universities, shopping centers and city garages. The ability to connect, analyse, and automate data gathered from devices, powered by and described as the Internet of Things, is what makes smart parking, possible. It has the power to employ a big number of small, cheap, and energy efficient sensors, which, collect and process a range of parameters such as temperature, sound, vibration, pressure, water quality, and pollutants.      


The smart parking market is segmented based on parking site, technology, and region. On the basis of parking site, Off-Street segment accounted for the largest share with 68.45% in the global smart parking market due to growth in automotive industry. The off-street parking is generally used for parking the vehicles anywhere but not on the street. There are various garages and parking lots available for parking the vehicles. This is one of the safe parking method as compared to on-street parking. On the basis of technology, the market has been as SmartApp, ultrasonic, RFID, In-ground vehicle detection sensor, and others. SmartApp segment accounted for the largest share with 34.14% in the global smart parking market. Ultrasonic is the second largest segment on the basis of technology and accounted for 26.25% share in the same year. The SmartApp is an integrated technology that has been developed to help the drivers on the real time availability of the parking space in nearby place. The SmartApp is widely used because any person sitting in the car can find the place for parking the vehicle in convenient manner. Ultrasonic has accounted for the second largest segment in smart parking market with a market share of 35.01% in 2016.


Smart Parking Market, By Segmentation


 Smart Parking Market, By Segmentation


Source: MRFR Analysis


On the basis of region, the market is segmented as North America, Asia Pacific, Europe, and Rest of the World. Asia Pacific region has accounted for the largest market share due to the presence of China, Japan and India. The high growth rate in the registration of new cars worldwide, with major boom from regional economies such as Asia Pacific (APAC), will open the window of opportunities for parking management business. Smart city concept is a new approach to redesigning cities and conceiving solutions to recent urban challenges such as traffic congestion, rapid expansion of urban population, increased energy consumption and increased greenhouse gas emission. Smart city aims to solve these challenges based upon foundations of good urban planning, economic competitiveness and sustainable practices that use emerging information and communication technologies. Europe accounted for the second largest market during the forecast period due to growing urbanization. The growing urbanization has led to the increased demand for infrastructure including transportation and building. Smart cities provide higher technology through mobile technology, optimize existing infrastructure, and create land use, in an efficient way. This will lead to growing demand for smart parking in smart cities. In the U.S., the National Institute of Standards Technology (NIST), part of U.S. Department of Commerce, has started working on the deployment of smart city development. The design of the framework was built to address two main concerns that are the interoperability and portability of ICT development across cities, and the need for standard architectural principles. This framework will lead to the demand for smart cities, which will ultimately result in the development of the smart parking market. Canadian market for automotive industry is rising steadily. The vehicle sales have continued to grow in the recent years. As of March, 2017, the sales of electric vehicles in Canada has reached 19,83,745 units, which shows that in the coming years, the sales would increase at a much higher rate. Government initiative and rising preference for vehicles is expected to be the major growth influencer of the Canada market. In Europe, there has been constant development for formulating strategy in order to achieve the growth in the metropolitan areas. This increase in the development will drive the smart parking market in Europe. 


 Key Players


The key players in global smart parking market are Amano McGann, Inc. (U.S.), Smart Parking Limited (Australia), IEM SA (Switzerland), IPS Group Inc. (U.S.), Klaus Multiparking Systems (Germany), PArklayer (India), Omnitec group (UAE), Mindteck (India), Robert Bosch GmbH (Germany) and Dongyang Menics Co., Ltd (South Korea)


The report for Global Smart Parking Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.

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TABLE OF CONTENTS

2.1 Definition 12
2.2 Scope of the Study 12
2.3 Assumptions 12
2.4 Market Structure 13

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

4.1 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

5.1 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

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

9.1 Competitive Landscape 72
9.2 Market Share Analysis 73
9.3 Product Benchmarking 73

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, 2016 (%) 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

TABLE 1 GLOBAL SMART PARKING MARKET, BY PARKING SITE, 2014-2022 (USD MILLION) 25
TABLE 1 GLOBAL SMART PARKING MARKET, BY TECHNOLOGY, 2015-2023 (USD MILLION) 28
TABLE 2 GLOBAL SMART PARKING MARKET, BY REGION, 2015-2023 (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, 2015-2023 (USD MILLION) 35
TABLE 5 NORTH AMERICA: SMART PARKING MARKET, BY TECHNOLOGY, 2015-2023 (USD MILLION) 36
TABLE 6 U.S.: SMART PARKING MARKET, BY PARKING SITE, 2015-2023 (USD MILLION) 37
TABLE 7 U.S.: SMART PARKING MARKET, BY TECHNOLOGY, 2015-2023 (USD MILLION) 38
TABLE 8 CANADA: SMART PARKING MARKET, BY PARKING SITE, 2015-2023 (USD MILLION) 39
TABLE 9 CANADA: SMART PARKING MARKET, BY TECHNOLOGY, 2015-2023 (USD MILLION) 40
TABLE 10 EUROPE: SMART PARKING MARKET, BY COUNTRY, 2015-2023 (USD MILLION) 42
TABLE 11 EUROPE: SMART PARKING MARKET, BY PARKING SITE, 2015-2023 (USD MILLION) 43
TABLE 12 EUROPE: SMART PARKING MARKET, BY TECHNOLOGY, 2015-2023 (USD MILLION) 44
TABLE 13 GERMANY: SMART PARKING MARKET, BY PARKING SITE, 2015-2023 (USD MILLION) 45
TABLE 14 GERMANY: SMART PARKING MARKET, BY TECHNOLOGY, 2015-2023 (USD MILLION) 46
TABLE 15 U.K.: SMART PARKING MARKET, BY PARKING SITE, 2015-2023 (USD MILLION) 47
TABLE 16 U.K.: SMART PARKING MARKET, BY TECHNOLOGY, 2015-2023 (USD MILLION) 47
TABLE 17 FRANCE: SMART PARKING MARKET, BY PARKING SITE, 2015-2023 (USD MILLION) 48
TABLE 18 FRANCE: SMART PARKING MARKET, BY TECHNOLOGY, 2015-2023 (USD MILLION) 49
TABLE 19 REST OF EUROPE: SMART PARKING MARKET, BY PARKING SITE, 2015-2023 (USD MILLION) 50
TABLE 20 REST OF EUROPE: SMART PARKING MARKET, BY TECHNOLOGY, 2015-2023 (USD MILLION) 51
TABLE 21 ASIA PACIFIC: SMART PARKING MARKET, BY COUNTRY, 2015-2023 (USD MILLION) 53
TABLE 22 ASIA PACIFIC: SMART PARKING MARKET, BY PARKING SITE, 2015-2023 (USD MILLION) 54
TABLE 23 ASIA PACIFIC: SMART PARKING MARKET, BY TECHNOLOGY, 2015-2023 (USD MILLION) 55
TABLE 24 CHINA: SMART PARKING MARKET, BY PARKING SITE, 2015-2023 (USD MILLION) 56
TABLE 25 CHINA: SMART PARKING MARKET, BY TECHNOLOGY, 2015-2023 (USD MILLION) 57
TABLE 26 JAPAN: SMART PARKING MARKET, BY PARKING SITE, 2015-2023 (USD MILLION) 58
TABLE 27 JAPAN: SMART PARKING MARKET, BY TECHNOLOGY, 2015-2023 (USD MILLION) 59
TABLE 28 INDIA: SMART PARKING MARKET, BY PARKING SITE, 2015-2023 (USD MILLION) 60
TABLE 29 INDIA: SMART PARKING MARKET, BY TECHNOLOGY, 2015-2023 (USD MILLION) 61
TABLE 30 REST OF ASIA PACIFIC: SMART PARKING MARKET, BY PARKING SITE, 2015-2023 (USD MILLION) 62
TABLE 31 REST OF ASIA PACIFIC: SMART PARKING MARKET, BY TECHNOLOGY, 2015-2023 (USD MILLION) 63
TABLE 32 REST OF THE WORLD: SMART PARKING MARKET, BY COUNTRY, 2015-2023 (USD MILLION) 65
TABLE 33 REST OF THE WORLD: SMART PARKING MARKET, BY PARKING SITE, 2015-2023 (USD MILLION) 66
TABLE 34 REST OF THE WORLD: SMART PARKING MARKET, BY TECHNOLOGY, 2015-2023 (USD MILLION) 67
TABLE 35 LATIN AMERICA: SMART PARKING MARKET, BY PARKING SITE, 2015-2023 (USD MILLION) 68
TABLE 36 LATIN AMERICA: SMART PARKING MARKET, BY TECHNOLOGY, 2015-2023 (USD MILLION) 69
TABLE 37 MIDDLE EAST & AFRICA: SMART PARKING MARKET, BY PARKING SITE, 2015-2023, (USD MILLION) 70
TABLE 38 MIDDLE EAST & AFRICA: SMART PARKING MARKET, BY TECHNOLOGY, 2015-2023, (USD MILLION) 71

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, 2016 (IN %) 24
FIGURE 6 GLOBAL SMART PARKING MARKET, BY TECHNOLOGY, 2016 (IN %) 27
FIGURE 7 GLOBAL SMART PARKING MARKET, BY REGION, 2014 TO 2022 (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, 2016 (%) 35
FIGURE 10 U.S.: SMART PARKING MARKET, BY PARKING SITE, 2016 (%) 37
FIGURE 11 CANADA: SMART PARKING MARKET, BY PARKING SITE, 2016 (%) 39
FIGURE 12 EUROPE: SMART PARKING MARKET SHARE, BY REGION, 2016 (% SHARE) 42
FIGURE 13 EUROPE: SMART PARKING MARKET, BY PARKING SITE, 2016 (%) 43
FIGURE 14 GERMANY: SMART PARKING MARKET, BY PARKING SITE, 2016 (%) 45
FIGURE 15 U.K.: SMART PARKING MARKET, BY PARKING SITE, 2016 (%) 46
FIGURE 16 FRANCE: SMART PARKING MARKET, BY PARKING SITE, 2016 (%) 48
FIGURE 17 REST OF EUROPE: SMART PARKING MARKET, BY PARKING SITE, 2016 (%) 50
FIGURE 18 ASIA PACIFIC: SMART PARKING MARKET SHARE, BY REGION, 2016 (% SHARE) 53
FIGURE 19 ASIA PACIFIC: SMART PARKING MARKET, BY PARKING SITE, 2016 (%) 54
FIGURE 20 CHINA: SMART PARKING MARKET, BY PARKING SITE, 2016 (%) 56
FIGURE 21 JAPAN: SMART PARKING MARKET, BY PARKING SITE, 2016 (%) 58
FIGURE 22 INDIA: SMART PARKING MARKET, BY PARKING SITE, 2016 (%) 60
FIGURE 23 REST OF ASIA PACIFIC: SMART PARKING MARKET, BY PARKING SITE, 2016 (%) 62
FIGURE 24 REST OF THE WORLD: SMART PARKING MARKET SHARE, BY REGION, 2016 (% SHARE) 64
FIGURE 25 REST OF THE WORLD: SMART PARKING MARKET, BY PARKING SITE, 2016 (%) 66
FIGURE 26 LATIN AMERICA: SMART PARKING MARKET, BY PARKING SITE, 2016 (%) 68
FIGURE 27 MIDDLE EAST & AFRICA: SMART PARKING MARKET, BY PARKING SITE, 2016 (%) 70
FIGURE 28 GROWTH STRATEGIES ADOPTED BY KEY PLAYERS IN GLOBAL SMART PARKING MARKET, 2015-2017, (%) 72
FIGURE 29 AMANO MCGANN, INC: KEY DEVELOPMENTS, 2014-2016 (%) 75
FIGURE 30 AMANO MCGANN: SWOT ANALYSIS 76
FIGURE 31 FINANCIAL OVERVIEW: TOTAL REVENUE VS SEGMENTAL REVENUE (TECHNOLOGY), 2015-2016 (USD MILLION) 77
FIGURE 32 SMART PARKING LIMITED: GEOGRAPHIC REVENUE MIX, 2016 (%) 78
FIGURE 33 SMART PARKING LIMITED: KEY DEVELOPMENTS, 2014-2017 (%) 79
FIGURE 34 FINANCIAL OVERVIEW: TOTAL REVENUE VS SEGMENTAL REVENUE (SOFTWARE SERVICES), 2014-2016 (USD MILLION) 89
FIGURE 35 MINDTECK: GEOGRAPHIC REVENUE MIX, 2016 (%) 89
FIGURE 36 MINDTECK: KEY DEVELOPMENTS, 2014-2017 (%) 91