The North America smart parking system market is
expected to reach USD 4,110.8 million by 2025, according to a new report by
Grand View Research, Inc. Developing better solutions to avoid congestions and
systematic positioning of vehicles across the cities are the key factors driving
the market growth in the North America.
The increased use of automobiles and
the trend of urbanization are leading to paucity in parking spaces.
Technological advancements such as online payments and development of mobile
apps for reserving parking slots are instrumental in driving the implementation
of smart parking systems.
Numerous benefits offered by smart
parking systems such as reduced congestion and reduced pollution are expected
to drive the adoption of smart parking systems in North America. These systems
involve usage of real-time data collection, low-cost sensors, and
smartphone-enabled automated payment systems, which allow drivers to reserve
parking in advance.
In places, such as shopping malls,
large commercial hubs, and sports and entertainment hubs, there are a large
number of vehicles that need to be positioned appropriately to avoid
congestions. In such situations, a smart parking system provides directions and
accuracy in terms of parking the vehicles to the drivers. In North America,
smart parking systems play a vital role in generating better urban environment
by minimizing the carbon emission.
Browse full research report on North America Smart Parking
System Market: https://www.grandviewresearch.com/industry-analysis/north-america-smart-parking-market
Further key findings from the report suggest:
- The
hardware segment dominated the market in 2018 and is estimated to generate
a revenue of over USD 2,185.3 million by 2025, as these components are
largely deployed in various systems that provide guidance while parking
vehicles.
- The
signage segment is expected to grow at a CAGR of 16.7% over the forecast
period, as signages guide vehicles with proper directions and help avoid
confusions, thereby, improving accuracy and reducing mishaps.
- The
consulting services segment is expected to grow at a CAGR of 20.1% from
2019 to 2025, as companies outsource the parking planning tasks to
consultancy services that provide solutions depending on the requirements.
- Several
organizations face the issues regarding parking spaces in urban areas. In
order to cater to those problems, companies outsource these tasks to the
consultancy services that provide solutions as per their requirements.
- Off-street
systems are anticipated to gain traction due to the increasing congestions
on streets. The segment is expected to witness considerable growth over
the forecast period
- The
government application segment for the market is estimated to reach USD 1,651.4
million by 2025 owing to its vast applications in smart city development
projects initiated by government
- The
key players in the north america smart parking system market are Amano
McGann.; Conduent, Inc.; Cisco Systems, Inc.; SKIDATA AG.; Streetline,
Inc.; ParkMe, Inc.; and Parkmobile LLC, among others.
Browse
request sample of this report by Grand View Research: https://www.grandviewresearch.com/industry-analysis/north-america-smart-parking-market/request/rs1
Grand View Research has segmented the North America smart parking
system market based on hardware, software, services, types, and countries:
North America Smart Parking System Hardware Outlook (Revenue, USD
Million, 2014 - 2025)
- Pucks
(wireless sensors)
- Cameras
and LPRs
- Smart
Meters
- Signage
- Parking
Gates
North America Smart Parking System Software Outlook (Revenue, USD
Million; 2014 - 2025)
- Parking
Guidance Systems
- Analytics
Solutions
North America Smart Parking System Service Outlook (Revenue, USD
Million; 2014 - 2025)
- Consulting
Services
- Engineering
Services
- Mobile
App Parking Services
- Enforcement
Apps
- Reservation
Apps
- Way-Finding
Apps
- Payment
Apps
North America Smart Parking System Type Outlook (Revenue, USD
Million; 2014 - 2025)
- On-Street
- Off-Street
- Garage
Parking
- Lot
Parking
North America Smart Parking System Application Outlook (Revenue,
USD Million; 2014 - 2025)
- Commercial
- Government
- Transport
Transit
North America Smart Parking System Country Outlook (Revenue, USD
Million; 2014 - 2025)
- U.S.
- Canada
About
Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
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