Smart Parking is a vehicle parking system that helps drivers find parking space. It consists of sensors, apps, smart parking meters, and mobile-phone automated payment systems that allow drivers to reserve parking in advance and pay via his credit card or cash. Sensors and smart parking meters track the occupancy of parking spaces and pass on the information to the drivers through their smartphone app. These sensors also provide parking guidance to drivers. Smart parking helps in reducing traffic congestion, car emissions, and also in managing demand and supply of parking.
The analysts forecast global smart parking market to grow at a CAGR of 31.72% during 2015-2019.
Covered in this Report
The report, namely Global Smart Parking Market 2015-2019, is based on an in-depth market analysis, with inputs from industry experts. It also covers the market landscape and its growth prospects in the coming years. The report includes the key vendors operating in the market.
- Increased Installation of Smart Parking Meters
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- Issues with Accuracy of Sensors
- Increased Use of Data Analytics to Optimize Parking
Key Questions Answered in this Report
- What will the market size be in 2019 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
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