Comprehensive Research Report on Global Smart Parking Market

Technavio has published a new report on the global smart parking market, which is expected to grow at a CAGR of more than 65% from 2015-2019.

Smart parking market segmentation by geography

Technavio’s report analyses the solutions and products offered by market vendors and presents a comprehensive breakdown in terms of market segmentation for different geographies, including the Americas, EMEA, and the APAC region.

According to Technavio’s research, data analytics software is predominantly used to provide better parking facilities to consumers. The increase in the time taken to park a vehicle leads to frustration among drivers, increases traffic congestion, and increases greenhouse gas emissions.

“Data analytics provide an appropriate solution for parking-related issues and also changes the driver’s behaviour. Moreover, analytics providers forge partnerships with smart parking solution providers to provide better insights into parking spaces,” says Faisal Ghaus, Vice President of Technavio.

Smart parking: Market scope and calculation of market size

This report covers the present scenario and growth prospects for the global smart parking market from 2015-2019. To calculate the market size, the report considers the revenue generated from the sales of smart parking systems, solutions, and sensors.

Industry analysis includes:

• Key Vendors:
  • Amano McGann (Amano Corp.)
  • Deteq Solutions Ltd.
  • IPS Group Inc.
  • Libelium Comunicaciones Distribuidas SL
  • SP Plus Corp.
  • TransCore LP
• Market Growth Drivers:
  • Increased Installation of Smart Parking Meters
  • Increased Use of Sensors for Parking
• Market Challenges:
  • Low Accuracy of Sensors
  • Lack of Co-ordination and Standardization
• Market Trends:
  • Increased Use of Data Analytics to Optimize Parking
  • Increased Use of Parking Apps

View the global smart parking market report.

Source: http://www.technavio.com/