Smart Parking Systems

Sensor and Communications Hardware, Software, Services, and Smart City Applications: Global Market Analysis and Forecasts

Nov 17, 2015, 15:10 ET from Reportlinker

NEW YORK, Nov. 17, 2015 /PRNewswire/ -- The congestion caused by poorly managed parking supply frustrates drivers, wastes fuel, creates air and noise pollution, and stifles economic activity. Today, the parking industry is being transformed by new technologies that are enabling cities to reduce levels of congestion significantly. Sensor networks that detect vehicle occupancy are providing the basic intelligence behind smart parking systems. These systems provide real-time parking availability information to make it easier for drivers to find a parking space. Large cities such as San Francisco, Los Angeles, and Moscow, among others, have adopted smart parking systems that have improved the chronic congestion in their respective city centers.
However, the speed of adoption across cities has been slower than expected. Significant funding from national governments has generally been necessary for cities to deploy this technology on a large scale. Nevertheless, the smart parking sensor and communications industry continues to grow steadily, and interest in the technology from cities is higher than ever. Additionally, other segments of the market, such as universities, airports, and corporate campuses, have been ramping up deployments of smart parking systems. These organizations are realizing the considerable benefits of optimizing parking availability and revenue generation on their properties. According to Navigant Research, the installed base of sensor-enabled on-street smart parking spaces is expected to surpass 1 million worldwide by 2024.
This Navigant Research report analyzes the evolution of smart parking technology and the smart parking systems market, with a particular focus on on-street parking. The study analyzes the drivers for the transformation in parking, including financial, environmental, and economic factors, and assesses approaches to parking in different regions. Global market forecasts of smart parking systems hardware, software, and services, broken out by segment and region, extend through 2024. The report also examines significant smart parking projects and case studies of major deployments from around the world, as well as the competitive landscape.

Key Questions Addressed:

-What defines a smart parking system?
-What are the main market drivers and barriers for the deployment of smart parking systems?
-What are the primary technologies of smart parking systems?
-What financing models are being used for smart parking projects?
-Who are the key players in the smart parking systems market, and how do they relate to each other?
-How large is the global smart parking technology and services market, and how large will it be in terms of revenue and parking spaces by 2024?

Who needs this report?

-Smart parking solutions providers
-Parking equipment providers and operators
-Networking and communications companies
-Sensor technology providers
-Mobile payment providers
-Intelligent transportation system (ITS) providers
-Government agencies
-Investor community

Read the full report:

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