Portland, OR -- (SBWire) -- 12/26/2017 --A vehicle parking system that detects a vacant spot and notifies the driver using sensors, apps & smart parking meters in available parking space is referred to as a Smart Parking System. This system enables a hassle-free vehicle parking, leading to time, cost and fuel saving. Furthermore, it improves the traffic flow and alerts the driver about unoccupied parking space, thereby increasing the overall efficiency of traffic control networks. The use of mobile applications for parking purposes is now becoming increasingly popular. For instance, in Dec15, Parkmobile provided a convenient parking to customers of Ohio by expanding its parking options with mobile payments.
The market is segmented on the basis of type, application, parking sites and geography. Type-wise, the market is categorized into robotic parking, stack parker, puzzle parker, two level parking, car lift, steel ramp parking and rotary parking. Based on application, it is divided into airports, government & municipalities and corporate & commercial institutions. By parking site, the market is segmented into off-street parking site and on-street parking site. Geographically, the market is analyzed across North America, Europe, Asia-Pacific and LAMEA.
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Market Dynamics:
Drivers:
Reduction in traffic congestion will contribute to the growth of the world smart parking system market.
Elimination of queues will also minimize parking-related issues, thereby encouraging the concept of smart parking system at domestic and commercial spots.
Restraints:
Lack of awareness concerning smart parking is likely to hamper the market growth.
Market Players:
Key players in this market are Swarco AG, Skidata AG, ParkMe, Inc., Parkmobile LLC, Urbiotica, Cisco System, Inc., Nedap N.V., Amano McGann, Smart Parking Limited and Streetline, Inc.
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MARKET SEGMENTATION
By Type
Robotic Parking
Stack Parker
Puzzle Parker
Two Level Parking
Car Lift
Steel Ramp Parking
Rotary Parking
By Application
Airports
Government and Municipalities
Corporate Commercial Institutions
By Parking Site
Off-Street Parking Site
On-Street Parking Site
By Geography
North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Spain
Italy
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
