Smart Parking Market Analysis, Trends, Growth and Forecast 2021
The passenger car Smart Parking Market is projected to grow at a CAGR of 17.94% during the forecast period, to reach a market size of USD 5.25 Billion by 2021 from USD 2.13 Billion in 2015.
The market is primarily driven by factors such as rising concern over growing traffic congestion in cities, limited parking space availability, and stringent emission regulations. Favorable government...
Asia-Oceania to be the Fastest Growing Smart Parking Market Due to Tight Parking Spaces
The demand for parking management solutions is increasing, owing to the growing concerns related to traffic congestion and environmental pollution. Parking space operators are offering various services such as security and surveillance, parking reservation management, valet parking management, and license plate recognition. These services reduce wastage of time, enable pre booking of parking spaces,...