As the Chinese automobile market expands rapidly, parking problem becomes increasingly prominent with parking space gap exceeding an estimated 50 million. Meanwhile, the problem is exacerbated by low utilization because of difficult access to parking spot information caused by less intelligent parking lots. Additionally, as smart city and intelligent transportation emerge, the demand for smart parking system begins to rise.
In 2015, propelled by a number of favorable policies, the Chinese parking lot management system size was worth about RMB5.52 billion, up 47.2% from a year ago. It is expected the market will maintain a growth rate of over 30% over the next couple of years, arriving at RMB27.08 billion by 2020. Moreover, new sectors like parking data operation and Internet parking services will bring about new markets of RMB10 billion+. Smart parking industry enjoys a potential market of at least RMB100 billion, indicating broad prospects for development.
Smart parking industry presents a relatively fragmented pattern on the whole, consisting mainly of smart parking equipment manufacturers, smart parking solution providers, and Internet parking enterprises.
Traditional smart parking software & hardware suppliers, with technological capabilities for software and hardware, primarily provide smart parking equipment and solutions for parking lots. Actuated by "Internet+", some enterprises, represented by ETCP, JSST, Guangdong Anjubao Digital Technology, ZTE ITS, and Reformer Holding, have launched client-based smart parking APPs.
Featuring light asset and big data, Internet parking enterprises provide users with parking spot reservation, parking lot navigation, parking fees settlement, etc. by cooperating with parking lots and presenting real-time information on spare parking spots on APPs. Representative players include Parking We, 51Park, Tingchebao, and Uboche. Some of them have secured B round of financing, while some got few.
Key Topics Covered:
1 Overview1.1 Definition1.2 Business Model1.3 Operating Principle1.4 Main Features1.5 Development Phase
2 Global Smart Parking Industry
2.2 Typical Smart Parking Projects
3 Smart Parking Industry in China
3.2 Status Quo
3.3 Market Size
3.4 Competitive Landscape
3.5 BAT's Presence in Smart Parking
3.6 Local Efforts to Develop Smart Parking
3.7 Development Trends
4 Overview of Smart Parking-related Industries
4.2 Stereo Garage
4.3 Real Estate
4.4 Mobile Payment
5 Major Enterprises
5.2 Parking We
5.7 ZTE ITS
5.8 Reformer Holding
5.9 Wuyang Technology
5.13 PP Parking (660pp)
For more information about this report visit http://www.researchandmarkets.com/research/trjtsh/china_smart
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To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/china-smart-parking-industry-report-2016-in-2015-chinese-parking-lot-management-system-size-was-worth-about-rmb552-billion-up-472-from-a-year-ago---research-and-markets-300357617.html
SOURCE Research and Markets