The latest Advanced Parking Management System Market research report offers a thorough analysis of growth opportunities and development trends until 2030. Using qualitative and quantitative research, it explores market drivers and challenges, providing valuable insights for businesses to make informed decisions and identify growth areas.
Global Advanced Parking Management System Market is valued at approximately USD $$ million in 2021 and is anticipated to grow with a healthy growth rate of more than $% over the forecast period 2022-2030.
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Parking management systems help users find parking places quickly and provide essential guidance to make the entire procedure simple and convenient. Real-time vehicle tracking, traveller information systems, real-time parking notifications, video surveillance, and simple payment options are all part of the parking management systems. Several parking management systems allow consumers to reserve and pay for a parking space over the phone. The Advanced Parking Management System Market is expanding because of factors such as the innovative infrastructure of smart cities and increasing traffic congestion issues.
According to Statista, global technology spending on smart city initiatives is expected to more than double between 2018 and 2023, rising from USD 81 billion in 2018 to USD 189.5 billion in 2023. Smart cities use data acquired by sensors to automate a variety of services, resulting in improved performance, fewer costs, and lesser environmental impacts. Also, technological advancement and the increasing adoption of smartphones will provide lucrative growth opportunities for the market during the forecast period. However, the system complexity and high-cost hamper market growth during the forecast period of 2022-2029.
The key regions considered for the Global Advanced Parking Management System Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. Europe dominated the market in terms of revenue, owing to the different steps undertaken by the European Government to stimulate the deployment of parking management systems to minimize traffic congestion and ensure the appropriate use of parking spots. This region’s leading manufacturers have made significant investments in the development of innovative parking management systems. North America is expected to grow with the highest CAGR during the forecast period, owing to factors such as the rising population, increasing vehicle sales and production, and changing parking rules. In addition, increased investments in improving infrastructural facilities, as well as rising demand for improved driver and commuter convenience, are driving market expansion.
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Major market players included in this report are:
Conduent, Inc.
Streetline
Park Mobile, LLC.
Robert Bosch GmbH
SKIDATA AG
NU Park
FlashParking
TIBA Parking Systems
Chetu Inc.
Neptune Automatic Pvt Ltd
Recent Developments in the Market:
In October 2018, In India, Neptune offers a smart parking solution: Neptune Pvt. Ltd. is a market leader in offering clients innovative parking solutions and hassle-free parking experiences. Through automation and digitization, the organization provides a better driving experience.
Global Advanced Parking Management System Market Report Scope:
Historical Data: 2019-2020-2021
Base Year for Estimation: 2021
Forecast period: 2022-2029
Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered: Parking Site Type, Application Type, Region
Regional Scope: North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope: Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Parking Site Type offerings of key players.
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The detailed segments and sub-segment of the market are explained below.
By Parking Site Type:
On-Road
Off-Road
By Application Type:
Commercial
Government
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
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Some Questions Answered in the Advanced Parking Management System Market Report:
- What is the projected size of the global Advanced Parking Management System market in 2030, and what growth rate is expected?
- What are the primary drivers of growth in the global Advanced Parking Management System industry?
- What are the major market trends that are affecting the expansion of the Advanced Parking Management System market?
- What obstacles must be overcome in order to achieve sustained growth in the Advanced Parking Management System market?
- What opportunities and threats do vendors in the global Advanced Parking Management System market face?
- What are the raw materials and manufacturing equipment used in the production of Advanced Parking Management System, and what is the manufacturing process?
- What are the different types and applications of Advanced Parking Management System, and what is the market share of each type and application?
- What factors, such as trends, challenges, and risk factors, are currently shaping the growth of the Advanced Parking Management System market?
- What factors are driving the growth of the Advanced Parking Management System market in the top regions worldwide?
- Who are the major players in the global Advanced Parking Management System market, and what strategies are they employing to succeed?
- What industrial trends, drivers, and challenges are influencing the expansion of the Advanced Parking Management System market?
- What are the main findings of a five forces analysis of the global Advanced Parking Management System market?
Here are the key highlights of the report:
- Comprehensive assessments of the market share for Invisible Braces, conducted at both country and regional levels.
- In-depth analysis of the competitive landscape, identifying key trends within the industry.
- Thorough examination of market trends, encompassing product and technology advancements, drivers and barriers, and an analysis based on PORTER’s five forces.
- Strategic recommendations tailored for crucial business segments, leveraging market forecasts.
- Guidance provided for new market entrants, assisting them in navigating the industry landscape.
- Market forecasts encompassing all pertinent segments, sub-segments, and regional markets.
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