Global Smart Parking Solutions Market Analysis
According to Planet Market Reports, The Global Smart Parking Solutions Market was valued at USD 5.250 Billion in 2018 and is projected to reach USD 11.793 Billion by 2026, growing at a CAGR of 10.66 % from 2018 to 2026.
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What is Smart Parking Solutions?
Smart parking solutions are intended to provide drivers an ultimate solution on their journey from the beginning to end. Smart parking is most effective solution for parking space usage, improve efficiency in parking, and enable a free traffic flow. It is a best approach to resolve parking issues like insufficient parking space in heavily populated areas, inefficient use of existing parking capacity, struggle to find an open parking slot in a large parking space, confusion in finding your vehicle in a large parking lot, traffic problems created due to poorly designed parking spaces and waste of time & fuel while searching other resources.
Global Smart Parking Solutions Market Outlook
Rapid urbanization and steady rise in the number of vehicles is anticipated to drive the smart parking solution during the forecast period. Smart parking solutions are future enablers in accelerating economic growth and improving the quality of public infrastructure. Also, smart parking solution eliminates the need for guards that help find a parking spot and one who also collects tickets.
The “Global Smart Parking Solutions Market” study report will provide a valuable insight with an emphasis on global market including some of the major players such as Robert Bosch GmbH, Continental AG, Valeo S.A., Delphi Automotive PLC, Aisin Seiki Co., Ltd, Siemens AG, Xerox Corporation, Cubic Corporation, Amano Corporation and Kapsch Trafficcom AG. Our market analysis also entails a section solely dedicated for such major players wherein our analysts provide an insight to the financial statements of all the major players, along with its product benchmarking and SWOT analysis.
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