Portland, OR -- (SBWIRE) -- 07/31/2017 -- 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.

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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.

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.

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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.

Table Of Contents:
1. Executive summary
1.1. Key findings
1.2. Market attractiveness and trend analysis
1.3. Competitive landscape and recent industry development analysis (2014-2016)
2. Introduction
2.1. Report description
2.2. Scope and definitions
2.3. Research methodology
3. Market landscape
3.1. Growth drivers
3.1.1. Impact analysis
3.2. Restraints and challenges
4. Global smart parking system market, by type
4.1. Robotic parking
4.1.1. Historical market size by region, 2014-2016
4.1.2. Market forecast by region, 2017-2025
4.2. Stack parker