Smart Parking Technologies and Global Markets

Feb 2024| ENG007B| BCC Publishing

Report Highlights

The global market for smart parking technologies is expected to increase from $38.7 billion in 2023 to $88.8 billion by the end of 2028, with a compound annual growth rate (CAGR) of 18.1% during the forecast period of 2023-2028.

Report Includes

  • 37 data tables and 54 additional tables
  • An overview of the global market for smart parking technologies
  • Analysis of global market trends, featuring historical revenue data for 2022, estimated figures for 2023, forecasts for 2024 and 2026, and projections of compound annual growth rates (CAGRs) through 202
  • Evaluation of the current market size and revenue growth prospects, accompanied by a market share analysis by offering, parking solution type, technology, end user and geographic region
  • Coverage of emerging technologies, the current and future market potential, and the regulatory framework and reimbursement scenarios
  • Review of patents, and ESG trends in the smart parking technology industry
  • Market share analysis of the key companies in the industry and coverage of mergers & acquisitions, joint ventures, collaborations, partnerships, and other market strategies
  • Company profiles of major players within the industry, including 3M, Smart Parking, Cisco Systems Inc., and Continental AG

Report Scope

This report provides an overview of the global market for smart parking technologies and analyzes market trends. Using 2022 as the base year, the report provides estimated market data for the forecast period 2023 through 2028. Revenue forecasts for this period are made by hardware, software and services; parking solution type; technology; end user and region. However, the cost and volume of hardware are not included.

Frequently Asked Questions (FAQs)

The global market for smart parking technologies was projected to grow from $35.6 billion in 2022 to $88.8 billion in 2028, at a compound annual growth rate (CAGR) of 18.1% during the forecast period 2023-2028.
The key factors driving the growth of the smart parking technologies market include growing demand for IoT based vehicles, incorporation of government policies and regulations to support smart parking, and increasing number of vehicles due to growing economy.
Global smart parking technologies market is segmented based on components, parking solution type, technology, end-user, and region.
By the end of 2028, the commercial parking segment will continue to dominate the global smart parking technologies market. The segment will show a dominating position till the end of 2028, owing to an increasing number of shopping malls, recreation facility centers, amusement parks, and sports complexes.
North America holds the highest market share in the global smart parking technologies market. United States and Canada are significant contributors to the global smart parking technologies market. High urbanization rates, dense populations, and strong technological infrastructures are boosting the demand for market growth in the region.

Analyst Credentials

BCC Research Team possesses expertise and experience in life and physical science domains. They specialize in offering valuable business insights, including industry analysis, competitor intelligence, strategic and financial analysis, and opportunity assessment. The team has in-depth knowledge of various sectors, including healthcare, biotechnology, pharmaceuticals, IT, automation, advanced materials, and energy. They are proficient in qualitative and quantitative market intelligence providing clients with actionable insights. With a vast understanding of the competitive landscape, the team can support clients in making data-driven decisions to help them achieve a competitive edge in their respective markets.

Report Synopsis

Report Metrics Details
Base year considered 2022
Forecast period considered 2023-2028
Base year market size $35.6 billion
Market size forecast $88.8 billion
Growth rate CAGR of 18.1% for the forecast period of 2023-2028
Units considered $ Millions
Segments covered Offering, Parking Solution Type, Technology, End User
Regions covered North America, Europe, Asia-Pacific, Rest of the World (RoW)
Countries covered U.S., Canada, Mexico, U.K., Germany, France, Russia, Italy, Norway, Sweden, Finland, Poland, Denmark, Hungary, China, India, Japan, Australia, New Zealand, Taiwan, Indonesia, Thailand, Singapore, Latin America, Middle East and Africa
Key Market Drivers
  • Growing Demand for IoT-Based Vehicles
  • More Vehicles on the Road
  • Government Policies and Regulations to Support Smart Parking
Companies studied
  • 3M
  • NEDAP N.V.

Table of Contents

All reports provided in PDF format. For shared licensing options (5+ Users), please call a representative at (+1) 781-489-7301 or contact us at
Title/Chapter NamePagesMember Price
Full Report: Smart Parking Technologies and Global Markets134Free
Chapter- 1: Introduction4Free
Chapter- 2: Summary and Highlights3Free
Chapter- 3: Market Overview8Free
Chapter- 4: Market Dynamics4Free
Chapter- 5: Emerging Technologies and Developments3Free
Chapter- 6: Market Breakdown by Offering3Free
Chapter- 7: Market Breakdown by Parking Solution Type3Free
Chapter- 8: Market Breakdown by Technology3Free
Chapter- 9: Market Breakdown by End User3Free
Chapter- 10: Market Breakdown by Region24Free
Chapter- 11: Sustainability in Smart Parking Technologies: An ESG Perspective8Free
Chapter- 12: Patent Analysis5Free
Chapter- 13: M&A and Venture Funding Outlook4Free
Chapter- 14: Competitive Intelligence6Free
Chapter- 15: Company Profiles51Free
Chapter- 16: Appendix: Acronyms2Free
Published - Jan-2018| Analyst - Ritam Biswas| Code - ENG007A

Report Highlights

The global market for smart parking technology solutions and applications reached $13.1 billion in 2016. The market should reach $15.5 billion in 2017 and $35.3 billion by 2022, increasing at a compound annual growth rate (CAGR) of 17.9% during 2017-2022.

Report Includes


  • 80 data tables and 8 additional tables
  • An overview of the global market for smart parking technologies.
  • Analyses of global market trends, with data from 2016, estimates for 2017, and projections of compound annual growth rates (CAGRs) through 2022.
  • Analysis of key market drivers, including desire for luxury and increasing disposable income at the consumer level (especially in the Asia-Pacific region), strong growth of the automated vehicles market, and the need for automotive manufacturers to distinguish their vehicles in an otherwise similar feature set.
  • A look at various strategic initiatives and strengths of companies, along with large companies that offer smart parking sensors and other products.
  • An in-depth patent analysis, specifically smart parking technologies currently under investigation or newly in the market.
  • Profiles of major manufacturers and suppliers in the industry.
  • Company profiles of major players in the industry, including: Aisin Seiki Co. Ltd., Amco SA, Inrix, Nedap Identification Systems, Siemens AG, Worldsensing


Smart Parking Technologies and Global Markets

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