Portland, OR -- (SBWIRE) -- 06/13/2018 -- Smart Parking System uses a system to detect an empty space for parking using sensors, notifies driver with the help of app and smart parking meters, and assists while parking. The system enables ease in vehicle parking and leads to saving of time and fuel. In addition, it enhances flow of traffic and notifies the driver about unoccupied space. In this way, these systems increase overall efficiency of traffic control networks. The utilization of mobile applications for parking has become immensely popular over the period of time.

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Market Drivers and Restraints:

The global smart parking system market is driven by factors including reduction in traffic congestion and elimination of queues to reduce parking-related issues. On the other hand, lack of awareness about smart parking would limit growth of the industry.

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

Key Market Players:

Key players operating in the global smart parking system market are discussed in the research to help leading market players and new entrants gain insights on level of competition in the market along with steps to be taken to gain leadership position. Industry players analyzed in the research are Skidata AG, Swarco AG, Parkmobile LLC, ParkMe, Inc., Cisco System, Inc., Urbiotica, Amano McGann, Nedap N.V., Smart Parking Limited, and Streetline, Inc. They have adopted various strategies including collaborations, partnerships, mergers & acquisitions, joint ventures, expansions, and others to consolidate their position in the global industry.

Key Takeaways from the Report:

The research provides an in-depth analysis of the global smart parking system market based on current conditions and estimations for the future.
The study offers detailed information on changing market conditions to assist industry players identify current scenario and investment opportunities.
The report offers extensive analysis of drivers, restraints, and opportunities along with their impact on the industry.
The research on the global smart parking system market provides detailed analysis and statistics for the historic period and the forecast periods along with strategies to be implemented to gain strong position in the industry.
Porter's Five Forces analysis provides insights on competition level of the industry and highlights potency of suppliers and buyers.