Product ID: UCMIG45M2015
Smart Parking Market Size, Share, Growth Analysis, By Type(Off-street, On-street), By Technology(IoT, Ultrasonic), By Application(Security & Surveillance, Smart Payment System), By End User(Commercial, Government), By Region(North America, U.S.) - Industry Forecast 2024-2031
Report ID:
UCMIG45M2015 |
Region:
Global |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
Smart Parking Market Insights
Market Overview:
The rise in the implementation of integrated automated solutions, combined with advancements in wireless and digital payment technologies, is expected to contribute to market growth. Machine-to-Machine (M2M) communication, data analytics, advanced sensors, smart parking metres, and mobile applications are among the technologies used to implement these systems for slot reservations and online payments. Advances in technology, such as those designed to determine whether a parking lot is empty or occupied and evaluate and transmit the information to mobile and web applications, are driving market growth. The primary source of air and noise pollution that can suffocate economic activity is an increase in poor traffic management, which raises concerns about vehicle overcrowding and congestion in urban areas.
Smart Parking Market, Forecast & Y-O-Y Growth Rate, 2020 - 2028
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This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Technology Distributors by segment aggregation, the contribution of the Technology Distributors in Technology Hardware & Equipment and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
Smart Parking Market Report Snapshots
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