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Global Smart Parking Market Research Report: Forecast (2024-2030)

Smart Parking Market - By Component (Hardware [Pucks, Cameras & LPRs, Smart Meters, Others], Software [Parking Guidance System, Security & Surveillance, Parking Reservation Management, Valet Parking M... ... ent, Valet Parking Management, Analytics & Reporting, Others], Services [Consulting Services, Engineering Services, Others]), By Technology (Ultrasonic Technology, Sensor-based, RFID, Others), By Parking Type (On-Street, Off-Street), By Application (Commercial, Government) and others Read more

Automotive
Jun 2024
Pages 189
Report Format: PDF, Excel, PPT

Market Definition

Smart Parking can be defined as a parking strategy combining technology and human innovation to get faster, easier, and denser parking of vehicles when they are idle. Smart Parking includes hardware components, software as well as services. Reliable smart parking provides real-time data and local turn-by-turn guidance, reducing search traffic & vehicle emissions. Smart Parking also includes various sensor technologies such as radar, image sensing, etc.

Market Insights & Analysis: Global Smart Parking Market (2024-30):

The Global Smart Parking Market size was valued at USD 6.28 billion in 2023 and is projected to reach USD 24.03 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 18.4% during the forecast period, i.e., 2024-30. The market growth imputes to the expansion of the middle-class population in emerging countries, and urban migration leading to soaring vehicle sales worldwide. Also, the lack of proper railway infrastructure in the majority of the countries has pushed the sales of commercial vehicles, such as trucks, trailers, etc.

Report Coverage	Details
Study Period	Historical Data: 2019-22
	Base Year: 2023
	Forecast Period: 2024-30
CAGR (2024-2030)	18.4%
Regions Covered	North America: US, Canada, Mexico
	Europe: Germany, The UK, France, Spain, Italy, Rest of Europe
	Asia-Pacific: China, India, Japan, South Korea, Australia, Rest of Asia-Pacific
	South America: Brazil, Argentina, Rest of South America
	Middle East & Africa: UAE, Saudi Arabia, South Africa, Rest of MEA
Key Companies Profiled	Robert Bosch GmbH, Valeo S.A., Continental AG, Siemens AG, Amano Corporation, Park Assist, Nedap Identification Systems, AppyWay, Parkeagle B.V, Urbiotica, Swarco, Altiux, IPS Group, IEM S.A, Inrix, Others
Market Value (2023)	USD 6.28 Billion
Market Value (2030)	USD 24.03 Billion

The improving purchasing power, easier vehicle financing options, expansion of cities, and growth in greenfield investments in emerging economies have significantly contributed to the increasing vehicle population. For instance, the sales of passenger cars surged at a CAGR of 5% in China during 2019-23, touching 26.06 million cars in 2023. During the same period, car sales grew from 2.96 million in 2019 to around 4.10 million in 2023, registering a CAGR of around 8.5%. These amazing statistics on vehicle sales are emerging as an opportunity area for smart parking service providers.

Furthermore, the venture capital and private equity funding in the smart parking market is also soaring, providing much-needed financial push to the competitors in this space. Therefore, smart parking service providers are integrating disruptive solutions like machine learning, IoT, etc., to provide real-time data and proper space management on parking to the end-users. Moreover, cities like Barcelona, San Francisco, etc., have been implementing these IoT-based sensor technologies and integration of mobile applications with parking facilities, which is further leading to the increasing adoption of smart parking solutions.

Also, the smart parking facilities along with their dynamic pricing strategies and models adjust the parking fees as per the demand and requirement of consumers, thereby providing an optimized space utilization and traffic minimization approach to consumers. The integration of such advanced analytics and technologies in parking systems by governments as well as commercial parking providers is generating a great demand for smart parking solutions and services, further enhancing market growth. Additionally, environmental concerns among individuals owing to rising vehicular emissions while waiting in parking lines, searching for parking spots, etc., are also catalyzing the demand for smart parking solutions.

Market Segmentation
Introduction
1. Product Definition
2. Research Process
3. Assumption
Executive Summary
Global Smart Parking Market, Start-up, Investment, and Ecosystem
1. Entrepreneurial Activity
2. Year-on-Year Funding Received
3. Funding Received by Top Companies
4. Key Investors Active in the Market
5. Series-wise Funding Received
  1. Seed Funding
  2. Angel Investing
  3. Venture Capitalists (VC) Funding
  4. Others
Global Smart Parking Market Trends & Insights
Global Smart Parking Market Dynamics
1. Growth Drivers
2. Challenges
Global Smart Parking Market Hotspot & Opportunities
Global Smart Parking Market Policies, Regulations, Product Standards
Global Smart Parking Market Outlook, 2019-2030F
1. Market Size & Analysis
  1. By Revenues (USD Million)
2. Market Share & Analysis
  1. By Component
    1. Hardware– Market Size & Analysis, 2019-2030F, USD Million
      1. Pucks– Market Size & Analysis, 2019-2030F, USD Million
      2. Cameras & LPRs– Market Size & Analysis, 2019-2030F, USD Million
      3. Smart Meters– Market Size & Analysis, 2019-2030F, USD Million
      4. Others (Signage, Parking Gates, etc.) – Market Size & Analysis, 2019-2030F, USD Million
    2. Software– Market Size & Analysis, 2019-2030F, USD Million
      1. Parking Guidance System– Market Size & Analysis, 2019-2030F, USD Million
      2. Security & Surveillance– Market Size & Analysis, 2019-2030F, USD Million
      3. Parking Reservation Management– Market Size & Analysis, 2019-2030F, USD Million
      4. Valet Parking Management– Market Size & Analysis, 2019-2030F, USD Million
      5. Analytics & Reporting – Market Size & Analysis, 2019-2030F, USD Million
      6. Others (Payment & Billing, Enforcement and Violation Management, etc.)– Market Size & Analysis, 2019-2030F, USD Million
    3. Services– Market Size & Analysis, 2019-2030F, USD Million
      1. Consulting Services– Market Size & Analysis, 2019-2030F, USD Million
      2. Engineering Services– Market Size & Analysis, 2019-2030F, USD Million
      3. Others– Market Size & Analysis, 2019-2030F, USD Million
  2. By Technology
    1. Ultrasonic Technology– Market Size & Analysis, 2019-2030F, USD Million
    2. Sensor-based – Market Size & Analysis, 2019-2030F, USD Million
    3. RFID– Market Size & Analysis, 2019-2030F, USD Million
    4. Others – Market Size & Analysis, 2019-2030F, USD Million
  3. By Parking Type
    1. On-Street– Market Size & Analysis, 2019-2030F, USD Million
    2. Off-Street– Market Size & Analysis, 2019-2030F, USD Million
  4. By Application
    1. Commercial– Market Size & Analysis, 2019-2030F, USD Million
    2. Government– Market Size & Analysis, 2019-2030F, USD Million
  5. By Region
    1. North America
    2. South America
    3. Europe
    4. The Middle East & Africa
    5. Asia-Pacific
  6. By Company
    1. Market Share of Top Companies
    2. Competition Characteristics
North America Smart Parking Market Outlook, 2019-2030F
1. Market Size & Analysis
  1. By Revenues (USD Million)
2. Market Share & Analysis
  1. By Component– Market Size & Analysis, 2019-2030F, USD Million
  2. By Technology– Market Size & Analysis, 2019-2030F, USD Million
  3. By Parking Type– Market Size & Analysis, 2019-2030F, USD Million
  4. By Application– Market Size & Analysis, 2019-2030F, USD Million
  5. By Country
    1. The US
    2. Mexico
    3. Canada
3. The US Smart Parking Market Outlook, 2019-2030F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Component– Market Size & Analysis, 2019-2030F, USD Million
    2. By Application– Market Size & Analysis, 2019-2030F, USD Million
4. Canada Smart Parking Market Outlook, 2019-2030F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Component– Market Size & Analysis, 2019-2030F, USD Million
    2. By Application– Market Size & Analysis, 2019-2030F, USD Million
5. Mexico Smart Parking Market Outlook, 2019-2030F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Component– Market Size & Analysis, 2019-2030F, USD Million
    2. By Application– Market Size & Analysis, 2019-2030F, USD Million
South America Smart Parking Market Outlook, 2019-2030F
1. Market Size & Analysis
  1. By Revenues (USD Million)
2. Market Share & Analysis
  1. By Component– Market Size & Analysis, 2019-2030F, USD Million
  2. By Technology– Market Size & Analysis, 2019-2030F, USD Million
  3. By Parking Type– Market Size & Analysis, 2019-2030F, USD Million
  4. By Application– Market Size & Analysis, 2019-2030F, USD Million
  5. By Country
    1. Brazil
    2. Argentina
    3. Rest of South America
3. Brazil Smart Parking Market Outlook, 2019-2030F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Component– Market Size & Analysis, 2019-2030F, USD Million
    2. By Application– Market Size & Analysis, 2019-2030F, USD Million
4. Argentina Smart Parking Market Outlook, 2019-2030F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Component– Market Size & Analysis, 2019-2030F, USD Million
    2. By Application– Market Size & Analysis, 2019-2030F, USD Million
Europe Smart Parking Market Outlook, 2019-2030F
1. Market Size & Analysis
  1. By Revenues (USD Million)
2. Market Share & Analysis
  1. By Component– Market Size & Analysis, 2019-2030F, USD Million
  2. By Technology– Market Size & Analysis, 2019-2030F, USD Million
  3. By Parking Type– Market Size & Analysis, 2019-2030F, USD Million
  4. By Application– Market Size & Analysis, 2019-2030F, USD Million
  5. By Country
    1. Germany
    2. France
    3. The UK
    4. Italy
    5. Spain
    6. Rest of Europe
3. Germany Smart Parking Market Outlook, 2019-2030F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Component– Market Size & Analysis, 2019-2030F, USD Million
    2. By Application– Market Size & Analysis, 2019-2030F, USD Million
4. France Smart Parking Market Outlook, 2019-2030F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Component– Market Size & Analysis, 2019-2030F, USD Million
    2. By Application– Market Size & Analysis, 2019-2030F, USD Million
5. The UK Smart Parking Market Outlook, 2019-2030F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Component– Market Size & Analysis, 2019-2030F, USD Million
    2. By Application– Market Size & Analysis, 2019-2030F, USD Million
6. Italy Smart Parking Market Outlook, 2019-2030F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Component– Market Size & Analysis, 2019-2030F, USD Million
    2. By Application– Market Size & Analysis, 2019-2030F, USD Million
7. Spain Smart Parking Market Outlook, 2019-2030F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Component– Market Size & Analysis, 2019-2030F, USD Million
    2. By Application– Market Size & Analysis, 2019-2030F, USD Million
The Middle East & Africa Smart Parking Market Outlook, 2019-2030F
1. Market Size & Analysis
  1. By Revenues (USD Million)
2. Market Share & Analysis
  1. By Component– Market Size & Analysis, 2019-2030F, USD Million
  2. By Technology– Market Size & Analysis, 2019-2030F, USD Million
  3. By Parking Type– Market Size & Analysis, 2019-2030F, USD Million
  4. By Application– Market Size & Analysis, 2019-2030F, USD Million
  5. By Country
    1. Saudi Arabia
    2. The UAE
    3. South Africa
    4. Rest of the Middle East and Africa
3. Saudi Arabia Smart Parking Market Outlook, 2019-2030F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Component– Market Size & Analysis, 2019-2030F, USD Million
    2. By Application– Market Size & Analysis, 2019-2030F, USD Million
4. The UAE Smart Parking Market Outlook, 2019-2030F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Component– Market Size & Analysis, 2019-2030F, USD Million
    2. By Application– Market Size & Analysis, 2019-2030F, USD Million
5. South Africa Smart Parking Market Outlook, 2019-2030F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Component– Market Size & Analysis, 2019-2030F, USD Million
    2. By Application– Market Size & Analysis, 2019-2030F, USD Million
Asia-Pacific Smart Parking Market Outlook, 2019-2030F
1. Market Size & Analysis
  1. By Revenues (USD Million)
2. Market Share & Analysis
  1. By Component– Market Size & Analysis, 2019-2030F, USD Million
  2. By Technology– Market Size & Analysis, 2019-2030F, USD Million
  3. By Parking Type– Market Size & Analysis, 2019-2030F, USD Million
  4. By Application– Market Size & Analysis, 2019-2030F, USD Million
  5. By Country
    1. China
    2. India
    3. Japan
    4. Australia
    5. Rest of Asia-Pacific
3. China Smart Parking Market Outlook, 2019-2030F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Component– Market Size & Analysis, 2019-2030F, USD Million
    2. By Application– Market Size & Analysis, 2019-2030F, USD Million
4. India Smart Parking Market Outlook, 2019-2030F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Component– Market Size & Analysis, 2019-2030F, USD Million
    2. By Application– Market Size & Analysis, 2019-2030F, USD Million
5. Japan Smart Parking Market Outlook, 2019-2030F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Component– Market Size & Analysis, 2019-2030F, USD Million
    2. By Application– Market Size & Analysis, 2019-2030F, USD Million
6. Australia Smart Parking Market Outlook, 2019-2030F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Component– Market Size & Analysis, 2019-2030F, USD Million
    2. By Application– Market Size & Analysis, 2019-2030F, USD Million
Global Smart Parking Market Key Strategic Imperatives for Success & Growth
Competitive Outlook
1. Company Profile
  1. Robert Bosch GmbH
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  2. Valeo S.A.
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  3. Continental AG
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Otherss
  4. Siemens AG
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  5. Amano Corporation
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  6. Park Assist
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  7. Nedap Identification Systems
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  8. AppyWay
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  9. Parkeagle B.V.
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  10. Urbiotica
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  11. Swarco
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  12. Altiux
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  13. IPS Group
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  14. IEM S.A.
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  15. Inrix
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
Disclaimer

MarkNtel Advisors follows a robust and iterative research methodology designed to ensure maximum accuracy and minimize deviation in market estimates and forecasts. Our approach combines both bottom-up and top-down techniques to effectively segment and quantify various aspects of the market. A consistent feature across all our research reports is data triangulation, which examines the market from three distinct perspectives to validate findings. Key components of our research process include:

1. Scope & Research Design At the outset, MarkNtel Advisors define the research objectives and formulate pertinent questions. This phase involves determining the type of research—qualitative or quantitative—and designing a methodology that outlines data collection methods, target demographics, and analytical tools. They also establish timelines and budgets to ensure the research aligns with client goals.

2. Sample Selection and Data Collection In this stage, the firm identifies the target audience and determines the appropriate sample size to ensure representativeness. They employ various sampling methods, such as random or stratified sampling, based on the research objectives. Data collection is carried out using tools like surveys, interviews, and observations, ensuring the gathered data is reliable and relevant.

3. Data Analysis and Validation Once data is collected, MarkNtel Advisors undertake a rigorous analysis process. This includes cleaning the data to remove inconsistencies, employing statistical software for quantitative analysis, and thematic analysis for qualitative data. Validation steps are taken to ensure the accuracy and reliability of the findings, minimizing biases and errors.

4. Data Forecast and FinalizationThe final phase involves forecasting future market trends based on the analyzed data. MarkNtel Advisors utilize predictive modeling and time series analysis to anticipate market behaviors. The insights are then compiled into comprehensive reports, featuring visual aids like charts and graphs, and include strategic recommendations to inform client decision-making

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