Smart Parking Market Information Report by Parking Site (On-Street and Off-Street), Technology (SmartApp, In-Ground Vehicle Detection Sensor, RFID, Ultrasonic, and Others), and region

Published - Feb 2019 | Category - Automobile & Transportation | No. of Pages - 100 | Published By - Market Research Future


Smart Parking Market is expected to grow at CAGR of 10.97% during the forecast period 2017 to 2023.

Smart Parking Market Information Report by Parking Site (On-Street and Off-Street), Technology (SmartApp, In-Ground Vehicle Detection Sensor, RFID, Ultrasonic, and Others), and region.

Market analysis

The smart parking is a system which guides the driver in finding a vacant spot for vehicle parking. This type of parking system helps in detecting the parking space through the sensors along with directing the driver about the empty space. RFID, smartapp, ultrasonic are some of the technologies that are used in the smart parking system. The factors which are influencing the smart parking market include the higher demand for the smart cities solution. Also, growing urbanization is another reason for the growth of the smart parking market. The smart parking system is currently being highly adopted by the shopping centers, universities, airports and city garages. The ability for analyzing, connecting and automating data collected from the devices and powered by the Internet of Things (IoT) technology, is what makes the smart parking possible. The smart parking market is expected to grow at CAGR of 10.97% during the forecast period 2017 to 2023.


 

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