Smart Parking Technologies and Global Markets
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.
- 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
For the scope of this report, smart parking is defined as a vehicle parking system where a set of hardware devices and software assist the driver finding a parking spot, signaling available locations and assisting the driver in parking the vehicle. Smart parking includes both driver assistance systems (mentioned as “automotive park assist” throughout the report) that are inside the vehicle (such as sensors, display systems, etc.) as well as smart parking equipment and solutions (such as cameras, sensors, etc.) installed in the parking lot (both on-street and off-street) (this is mentioned as “assisted parking” throughout the report).
The report includes information about manufacturers and suppliers of smart parking technology products, and both are discussed and analyzed in the report. Also, the report talks about large companies that offer smart parking sensors and other products. The report also discusses companies that provide smart parking equipment and solutions through partnership with other niche technology providers. Additionally, the coverage includes various strategic initiatives and strengths of companies that are expected to help them move forward in this market.
To calculate and segment the market, BCC Research has considered both hardware (equipment) and services in the smart parking technologies sector. Along with product and solutions revenue, BCC Research has also considered services revenue that a company reports within its total revenue. However, the report has excluded software, which may form a very small portion of the market and whose market value is deemed to be insignificant compared with equipment and services.
The report includes distinct types of companies such as:
- Parking sensors and related component manufacturers.
- Large automotive technology providers.
- Other large technology companies.
- Other manufacturers that market smart parking technologies as their own.
In the services segment, the report covers all forms of services such as professional services, deployment and integration, as well as support and maintenance. However, stand-alone service providers that provide post sales services are out of scope of this report. Additionally, the report also excludes sales of individual components used in smart parking solution that constitute a very small part of the overall market. Further, the report does not include revenue from those automotive companies that do not have smart parking technologies and solutions of their own.
The report begins by introducing the reader to how the market for smart parking technology solutions and applications has evolved over time and how various factors impact the market. Building on this, the study proceeds to identify the following:
- Primary forces with a direct impact on the global smart parking technology solutions and applications.
- Secondary forces that have an indirect impact.
- Key funding and financing in this sector.
- Some key challenges that may hinder the growth of this market.
- Key trends visible in the market.
- Leading end users of smart parking technology solutions and applications.
- Demand in North America, Europe, Asia-Pacific, Middle East and Africa (MEA) and South America for smart parking technology solutions and applications.
Ritam Biswas has more than 10 years of experience in the market research and financial research space and has written and consulted on several research and advisory projects in various technology verticals. He has worked as a team leader and lead analyst in several technology businesses and has written numerous reports in areas such as disruptive technology, innovative and new technologies, advanced end-user computing, cloud security, virtualization security, mobile security and deep packet inspection.