Global Smart Parking Market is valued at approximately USD 8.6 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 12.6% over the forecast period 2023-2030. The smart parking market refers to the industry and technologies involved in the development and implementation of intelligent parking solutions that utilize advanced sensors, data analytics, and connectivity to optimize parking space utilization, improve traffic flow, and enhance the overall parking experience. The Smart Parking Market is being driven by factors such as Increased parking concern across the globe due to rapid urbanization and increase in number of vehicles.
The global burden of vehicles is on the rise due to the increasing pace of urbanization. As more people migrate to cities and urban areas, the demand for personal vehicles has been steadily growing. According to International Organization of Motor Vehicle Manufacturers total vehicle production in 2021 was 80,250,102 units and in 2022 was 8,50,16,728 . Along that rising urbanization also driving the market According to the United Nations Population Fund (UNFPA) in 2022, the world is witnessing an unprecedented surge in urban expansion. The global population is expected to rise to approximately 5 billion by 2030, with over half already residing in urban areas. Thus, rising production in vehicle production and rising urbanization fueling the growth of the market. In addition to Rise in investment on building driverless vehicles and Government initiatives in building smart cities across the globe create lucrative opportunities for the market. However, High implementation cost & configuration complexity and Low rate of internet penetration in developing regions may hinder the growth of the market throughout the forecast period of 2023-2030.
The key regions considered for the Global Smart Parking Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the increasing adoption of smart city initiatives and many public-private collaborative efforts along with that region has several highly populated cities with significant urbanization. As cities become more crowded, parking spaces become limited, leading to an increased demand for efficient parking management solutions. Asia Pacific is considered as the fastest growing region during the forecasted period due to the increasing focus of regional governments on improving parking management and reducing air pollution & traffic congestion.
Major market player included in this report are:
- Amano McGann, Inc.
- Continental AG
- Dongyang Menics Co., Ltd
- SERVICIOS CONDUMEX, SA
- IPS Group Inc.
- Klaus Multiparking Systems
- Robert Bosch GmbH
- Smart Parking Limited
- Swarco AG
- Urbiotica
Recent Developments in the Market:
- In July 2021, Westfalia Parking launched an integrated consumer parking solution, the Westfalia Parking app, to increase the efficiency and safety of automated parking facilities. This application offers a contactless experience with a vehicle tracking facility. This application allows the driver to call their vehicles from home, hotel, or office, facilitating a contactless experience.
Global Smart Parking Market Report Scope:
- Historical Data: 2020 - 2021
- Base Year for Estimation: 2022
- Forecast period: 2023-2030
- Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
- Segments Covered: Type, Technology, Application, End User, Region
- Regional Scope: North America; Europe; Asia Pacific; Latin America; Middle East & Africa
- Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type:
By Technology:
By Application:
- Security & surveillance
- Smart payment systems
- E-parking
- License plate recognition
By End User:
By Region:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Table of Contents
Chapter 1. Executive Summary
- 1.1. Market Snapshot
- 1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
- 1.2.1. Smart Parking Market, by Region, 2020-2030 (USD Billion)
- 1.2.2. Smart Parking Market, by Type, 2020-2030 (USD Billion)
- 1.2.3. Smart Parking Market, by Technology, 2020-2030 (USD Billion)
- 1.2.4. Smart Parking Market, by Application, 2020-2030 (USD Billion)
- 1.2.5. Smart Parking Market, by End User, 2020-2030 (USD Billion)
- 1.3. Key Trends
- 1.4. Estimation Methodology
- 1.5. Research Assumption
Chapter 2. Global Smart Parking Market Definition and Scope
- 2.1. Objective of the Study
- 2.2. Market Definition & Scope
- 2.2.1. Industry Evolution
- 2.2.2. Scope of the Study
- 2.3. Years Considered for the Study
- 2.4. Currency Conversion Rates
Chapter 3. Global Smart Parking Market Dynamics
- 3.1. Smart Parking Market Impact Analysis (2020-2030)
- 3.1.1. Market Drivers
- 3.1.1.1. Increased parking concern across the globe
- 3.1.1.2. Increase in number of vehicles
- 3.1.2. Market Challenges
- 3.1.2.1. High implementation cost & configuration complexity
- 3.1.2.2. Low rate of internet penetration in developing regions
- 3.1.3. Market Opportunities
- 3.1.3.1. Rise in investment on building driverless vehicles
- 3.1.3.2. Government initiatives in building smart cities across the globe.
Chapter 4. Global Smart Parking Market Industry Analysis
- 4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.2. Porter's 5 Force Impact Analysis
- 4.3. PEST Analysis
- 4.3.1. Political
- 4.3.2. Economical
- 4.3.3. Social
- 4.3.4. Technological
- 4.3.5. Environmental
- 4.3.6. Legal
- 4.4. Top investment opportunity
- 4.5. Top winning strategies
- 4.6. COVID-19 Impact Analysis
- 4.7. Disruptive Trends
- 4.8. Industry Expert Perspective
- 4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Smart Parking Market, by Type
- 5.1. Market Snapshot
- 5.2. Global Smart Parking Market by Type, Performance - Potential Analysis
- 5.3. Global Smart Parking Market Estimates & Forecasts by Type 2020-2030 (USD Billion)
- 5.4. Smart Parking Market, Sub Segment Analysis
- 5.4.1. Off-street
- 5.4.2. On-street
Chapter 6. Global Smart Parking Market, by Technology
- 6.1. Market Snapshot
- 6.2. Global Smart Parking Market by Technology, Performance - Potential Analysis
- 6.3. Global Smart Parking Market Estimates & Forecasts by Technology 2020-2030 (USD Billion)
- 6.4. Smart Parking Market, Sub Segment Analysis
- 6.4.1. IoT
- 6.4.2. Ultrasonic
- 6.4.3. RFID
Chapter 7. Global Smart Parking Market, by Application
- 7.1. Market Snapshot
- 7.2. Global Smart Parking Market by Application, Performance - Potential Analysis
- 7.3. Global Smart Parking Market Estimates & Forecasts by Application 2020-2030 (USD Billion)
- 7.4. Smart Parking Market, Sub Segment Analysis
- 7.4.1. Security & surveillance
- 7.4.2. Smart payment systems
- 7.4.3. E-parking
- 7.4.4. License plate recognition
Chapter 8. Global Smart Parking Market, by End User
- 8.1. Market Snapshot
- 8.2. Global Smart Parking Market by End User, Performance - Potential Analysis
- 8.3. Global Smart Parking Market Estimates & Forecasts by End User 2020-2030 (USD Billion)
- 8.4. Smart Parking Market, Sub Segment Analysis
- 8.4.1. Commercial
- 8.4.2. Government
Chapter 9. Global Smart Parking Market, Regional Analysis
- 9.1. Top Leading Countries
- 9.2. Top Emerging Countries
- 9.3. Smart Parking Market, Regional Market Snapshot
- 9.4. North America Smart Parking Market
- 9.4.1. U.S. Smart Parking Market
- 9.4.1.1. Type breakdown estimates & forecasts, 2020-2030
- 9.4.1.2. Technology breakdown estimates & forecasts, 2020-2030
- 9.4.1.3. Application breakdown estimates & forecasts, 2020-2030
- 9.4.1.4. End User breakdown estimates & forecasts, 2020-2030
- 9.4.2. Canada Smart Parking Market
- 9.5. Europe Smart Parking Market Snapshot
- 9.5.1. U.K. Smart Parking Market
- 9.5.2. Germany Smart Parking Market
- 9.5.3. France Smart Parking Market
- 9.5.4. Spain Smart Parking Market
- 9.5.5. Italy Smart Parking Market
- 9.5.6. Rest of Europe Smart Parking Market
- 9.6. Asia-Pacific Smart Parking Market Snapshot
- 9.6.1. China Smart Parking Market
- 9.6.2. India Smart Parking Market
- 9.6.3. Japan Smart Parking Market
- 9.6.4. Australia Smart Parking Market
- 9.6.5. South Korea Smart Parking Market
- 9.6.6. Rest of Asia Pacific Smart Parking Market
- 9.7. Latin America Smart Parking Market Snapshot
- 9.7.1. Brazil Smart Parking Market
- 9.7.2. Mexico Smart Parking Market
- 9.8. Middle East & Africa Smart Parking Market
- 9.8.1. Saudi Arabia Smart Parking Market
- 9.8.2. South Africa Smart Parking Market
- 9.8.3. Rest of Middle East & Africa Smart Parking Market
Chapter 10. Competitive Intelligence
- 10.1. Key Company SWOT Analysis
- 10.1.1. Company 1
- 10.1.2. Company 2
- 10.1.3. Company 3
- 10.2. Top Market Strategies
- 10.3. Company Profiles
- 10.3.1. Amano McGann, Inc.
- 10.3.1.1. Key Information
- 10.3.1.2. Overview
- 10.3.1.3. Financial (Subject to Data Availability)
- 10.3.1.4. Product Summary
- 10.3.1.5. Recent Developments
- 10.3.2. Continental AG
- 10.3.3. Dongyang Menics Co., Ltd
- 10.3.4. SERVICIOS CONDUMEX, SA
- 10.3.5. IPS Group Inc.
- 10.3.6. Klaus Multiparking Systems
- 10.3.7. Robert Bosch GmbH
- 10.3.8. Smart Parking Limited
- 10.3.9. Swarco AG
- 10.3.10. Urbiotica
Chapter 11. Research Process
- 11.1. Research Process
- 11.1.1. Data Mining
- 11.1.2. Analysis
- 11.1.3. Market Estimation
- 11.1.4. Validation
- 11.1.5. Publishing
- 11.2. Research Attributes
- 11.3. Research Assumption