Smart Parking Market Grow at a CAGR of 16.2 % with Top Players Robert Bosch GmbH, Valeo, Continental AG
Traffic congestion caused by vehicles is an alarming problem at a global scale owing to increasing vehicle size and confined parking spaces in urban areas. Smart parking offers solutions for both drivers and operators by offering better management of parking spaces. Moreover, initiatives aimed toward efficient parking solutions by various governments are promoting market growth. However, the high initial investments are expected to hamper market growth.
View full press release