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Published Date: 2015-08-20Number of Pages: 100

Smart Parking Systems Market (By Parking Site Type - On-street Parking, Off-street Parking; By Component - Sensor and Network Hardware, Software, Services; By Application Areas - Airports, Government and Municipalities and Corporate and Commercial Institutions) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2022


Smart parking system provides real-time information about the availability of parking space in a particular location, thereby enabling hassle-free vehicle parking while saving on time, cost, and fuel. It consists of low-cost sensors, real-time data collection and analytics, and automated payment systems that allow people to find parking in desired locations and pay for it in advance. Once deployed, the smart parking system helps in reducing exhaust emissions from cars in urban cities by reducing the needless circling of city blocks in the search of parking space. It also efficiently manages the availability of parking space for cities and controls illegal parking. The rapid growth in the number of vehicles worldwide is increasing the scarcity of parking space, which is further magnifying the need for smart and innovative parking systems. Whether at airports or shopping centers, parking issues are a regular occurrence, in turn hurting the local business and affecting the quality of life of the city residents. These intelligent parking management systems provide high levels of convenience to the drivers while simplifying and automating the parking site operations. Deploying smart parking systems in cities requires data collection and management, integration with mobile phones, and various software and hardware innovations. Furthermore, there is a need for cooperation among various parking stakeholders such as off and on-street parking operators, transport authorities, municipalities, as well as customers. The smart parking market is growing significantly with numerous advanced solutions being adopted by major global cities such as Los Angeles, San Francisco, Stockholm, Shanghai, Beijing, and Sao Paulo. In the long run, smart parking can significantly transform these and other cities by making them friendlier to citizens. Smart parking systems are expected to open up opportunities for the reuse of commercial as well as municipal parking garages  Hence, smart parking systems contribute toward making urban cities cleaner, greener, compact, and thereby more freely walkable and drivable.

This research report provides in-depth analysis of the global smart parking systems market based on parking site types, components, application areas, and geography. In terms of geographical regions, the report segments the global smart parking systems market into North America, Europe, Asia Pacific, the Middle East and Africa (MEA), and Latin America; these are analyzed in terms of revenue generation. North America is further segmented into the U.S. and Rest of North America, while Europe is divided into EU7, CIS, and Rest of Europe. Moreover, the analysis for Asia Pacific is subdivided into Japan, China, South Asia, Australasia, and Rest of Asia Pacific. Likewise, MEA is further segmented into GCC countries, South Africa, and Rest of MEA, while Latin America is subdivided into Brazil and Rest of Latin America.

The report analyzes the factors that drive and restrain the growth of the smart parking systems market. The report also identifies prospective growth opportunities, prevailing market trends, and major strategies enhancing the popularity of smart parking systems. It also provides market estimates and forecasts for all the segments in terms of revenue. The global smart parking systems market is categorized based on parking site types as on-street parking and off-street parking. The market is also segmented on the basis of components that include sensor and network hardware, software, and services. The report further subdivides the smart parking services market into system integration and installation, parking management, and maintenance. This research report provides complete insight into different application areas of the smart parking systems market including airports, government and municipalities, and corporate and commercial institutions. The report also includes profiles of major players engaged in providing these smart parking systems. Key business strategies adopted by the major players, their market positioning, and various recent developments have also been identified in the research report. Besides, market positioning of key players in the smart parking systems market has also been provided. The major players in the smart parking systems market include Streetline, Inc., Cisco Systems, Inc., ParkMe, Inc., Urbiotica, Skidata AG, Amano McGann, Inc., Swarco AG, Smart Parking Ltd, Nedap N.V., and Parkmobile, LLC.

The global smart parking systems market is segmented as below:

Smart Parking Systems Market

By Parking Site
  • On-Street Parking
  • On-Street Parking
By Component 
  • Sensor and Network Hardware 
  • Software (Management and Analytics Software and Mobile Applications)
  • Services
    • System Integration and Installation
    • Parking Management
    • Maintenance
By End-use Industry
  • Airports
  • Government and Municipalities
  • Corporate and Commercial Institutions
By Geography
  • North America
    • U.S.
    • Rest of North America
  • Europe
    • EU7
    • CIS
    • Rest of Europe
  • Asia Pacific
    • Japan
    • China
    • South Asia
    • Australasia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Rest of Latin America
  • Middle East and Africa (MEA)
    • GCC
    • South Africa
    • Rest of MEA


Chapter 1 Preface
1.1 Report Description
1.2 Research Scope
1.3 Research Methodology
      1.3.1 Secondary Research
      1.3.2 Primary Research
      1.3.3 Models
              1.3.3.1 Market Sizing Methodology: Stage 1
              1.3.3.2 Market Sizing Methodology: Stage 2
              1.3.3.3 Forecast Methodology

Chapter 2 Executive Summary
2.1 Market Snapshot: Global Smart Parking Systems (2014 and 2022)
2.2 Global Smart Parking Systems Market, 2013 – 2022, Revenue (US$ Mn) and Y-o-Y Growth (%)
2.3 Global Smart Parking Systems Market, by Parking Site, 2014 (US$ Mn)
2.4 Global Smart Parking Systems Market, by Component, 2014 (US$ Mn)
2.5 Global Smart Parking Systems Market, by Application Areas, 2014 (US$ Mn)
2.6 Global Smart Parking Systems Market, by Geography, 2014 (US$ Mn)

Chapter 3 Global Smart Parking Systems Market Overview
3.1 Introduction
3.2 Market Drivers
      3.2.1 Growing Number of Vehicles and Decreased Availability of Parking Spaces
      3.2.2 Need for Scalability, Flexibility, Space Efficiency, Small Footprint, and Ease of Use in the Parking Systems
      3.2.3 Technological Developments in Smart Parking Systems
      3.2.4 Adoption of Smart Parking Solutions by Municipalities
3.3 Market Restraints
      3.3.1 Interoperability and System Integration Issues
      3.3.2 Low Consumer Awareness and Lack of Funding for Deployment in Various Countries is Hampering the Growth of Smart Parking Systems Market
3.4 Market Opportunities
      3.4.1 Bundling of Car-oriented Services such as Repairing and Maintenance with Smart Parking is Expected to Open New Avenues for Revenue Growth in the Long Term
3.5 Technology Overview
      3.5.1 Parking Guidance and Information System (PGIS)
      3.5.2 Transit-based Information Systems
      3.5.3 Smart Payment Systems
      3.5.4 E-parking
      3.5.5 Automated Parking Systems
3.6 Market Trends
3.7 Market Positioning of Key Players in Smart Parking Systems Market (2014)
      3.7.1 Market Positioning of Key Players in Smart Parking Systems Market (2014)
3.8 Global Smart Parking Systems Market Overview
      3.8.1 Introduction
      3.8.2 Global Smart Parking Systems Market Revenue, 2013 - 2022 (US$ Mn)
3.9 Global Smart Parking Systems Market Analysis, by Parking Site, 2013 - 2022 (US$ Mn)
      3.9.1 Global Smart Parking Systems Market Revenue for Off-Street Parking Site, 2013 - 2022 (US$ Mn)
      3.9.2 Global Smart Parking Systems Market Revenue for On-Street Parking Site, 2013 - 2022 (US$ Mn)
3.10 Global Smart Parking Systems Market Revenue, by Component, 2013 - 2022 (US$ Mn)
      3.10.1 Global Smart Parking Sensor and Network Hardware Market Revenue, 2013 - 2022 (US$ Mn)
      3.10.2 Global Smart Parking Software (Management and Analytics Software and Mobile Applications) Market Revenue, 2013 - 2022 (US$ Mn)
      3.10.3 Global Smart Parking Services Market Revenue, by Service Type, 2013 - 2022 (US$ Mn)
              3.10.3.1 Global Smart Parking System Integration and Installation Services Market Revenue, 2013 - 2022 (US$ Mn)
              3.10.3.2 Global Smart Parking Management Services Market Revenue, 2013 - 2022 (US$ Mn)
              3.10.3.3 Global Smart Parking Maintenance Services Market Revenue, 2013 – 2022 (US$ Mn)
3.11 Global Smart Parking Systems Market Revenue, by Application Areas, 2013 – 2022 (US$ Mn)
      3.11.1 Global Smart Parking Systems Market for Airports Application, 2013 – 2022 (US$ Mn)
      3.11.2 Global Smart Parking Systems Market for Government and Municipalities Application, 2013 – 2022 (US$ Mn)
      3.11.3 Global Smart Parking Systems Market for Corporate and Commercial Institutions Application, 2013 – 2022 (US$ Mn)

Chapter 4 North America Smart Parking Systems Market Analysis
4.1 Key Trends Analysis
      4.1.1 North America Smart Parking Systems Market Revenue, 2013 – 2022 (US$ Mn)
4.2 North America Smart Parking Systems Market Analysis, by Parking Site, 2013 – 2022 (US$ Mn)
      4.2.1 North America Smart Off-Street Parking System Market Revenue, 2013 – 2022 (US$ Mn)
      4.2.2 North America Smart On-Street Parking System Market Revenue, 2013 – 2022 (US$ Mn)
4.3 North America Smart Parking Systems Market Revenue, by Component, 2013 – 2022 (US$ Mn)
      4.3.1 North America Smart Parking Sensor and Network Hardware Market Revenue, 2013 – 2022 (US$ Mn)
      4.3.2 North America Smart Parking Software (Management and Analytics Software and Mobile Applications) Market Revenue, 2013 – 2022 (US$ Mn)
      4.3.3 North America Smart Parking Services Market Revenue, by Service Type, 2013 – 2022 (US$ Mn)
              4.3.3.1 North America Smart Parking System Integration and Installation Services Market Revenue, 2013 – 2022 (US$ Mn)
              4.3.3.2 North America Smart Parking Management Services Market Revenue, 2013 – 2022 (US$ Mn)
              4.3.3.3 North America Smart Parking System Maintenance Services Market Revenue, 2013 - 2022 (US$ Mn)
4.4 North America Smart Parking Systems Market, By Application Areas, 2013 – 2022 (US$ Mn)
      4.4.1 North America Smart Parking Systems Market Revenue for Airports Application Areas, 2013 – 2022 (US$ Mn)
      4.4.2 North America Smart Parking Systems Market Revenue for Government and Municipalities Application Areas, 2013 – 2022 (US$ Mn)
      4.4.3 North America Smart Parking Systems Market Revenue for Corporate and Commercial Institutions Application Areas, 2013 – 2022 (US$ Mn)
4.5 North America Smart Parking Systems Market, By Region, 2013 – 2022 (US$ Mn)
      4.5.1 U.S. Smart Parking Systems Market, 2013 - 2022 (US$ Mn)
      4.5.2 Rest of North America Smart Parking Systems Market, 2013 - 2022 (US$ Mn)

Chapter 5 Europe Smart Parking Systems Market Analysis
5.1 Key Trends Analysis
      5.1.1 Europe Smart Parking Systems Market Revenue, 2013 – 2022 (US$ Mn)
5.2 Europe Smart Parking Systems Market Analysis, by Parking Site, 2013 – 2022 (US$ Mn)
      5.2.1 Europe Smart Off-Street Parking System Market Revenue, 2013 – 2022 (US$ Mn)
      5.2.2 Europe Smart On-Street Parking System Market Revenue, 2013 – 2022 (US$ Mn)
5.3 Europe Smart Parking Systems Market Revenue, by Component, 2013 – 2022 (US$ Mn)
      5.3.1 Europe Smart Parking Sensor and Network Hardware Market Revenue, 2013 – 2022 (US$ Mn)
      5.3.2 Europe Smart Parking Software (Management and Analytics Software and Mobile Applications) Market Revenue, 2013 – 2022 (US$ Mn)
      5.3.3 Europe Smart Parking Services Market Revenue, by Service Type, 2013 – 2022 (US$ Mn)
              5.3.3.1 Europe Smart Parking System Integration and Installation Services Market Revenue, 2013 - 2022 (US$ Mn)
              5.3.3.2 Europe Smart Parking Management Services Market Revenue, 2013 – 2022 (US$ Mn)
              5.3.3.3 Europe Smart Parking System Maintenance Services Market Revenue, 2013 - 2022 (US$ Mn)
5.4 Europe Smart Parking Systems Market, By Application Areas, 2013 – 2022 (US$ Mn)
      5.4.1 Europe Smart Parking Systems Market Revenue for Airports Application Areas, 2013 - 2022 (US$ Mn)
      5.4.2 Europe Smart Parking Systems Market Revenue for Government and Municipalities Application Areas, 2013 – 2022 (US$ Mn)
      5.4.3 Europe Smart Parking Systems Market Revenue for Corporate and Commercial Institutions Application Areas, 2013 – 2022 (US$ Mn)
5.5 Europe Smart Parking Systems Market, By Region, 2013 – 2022 (US$ Mn)
      5.5.1 EU7 Smart Parking Systems Market, 2013 – 2022 (US$ Mn)
      5.5.2 CIS Smart Parking Systems Market, 2013 – 2022 (US$ Mn)
      5.5.3 Rest of Europe Smart Parking Systems Market, 2013 – 2022 (US$ Mn)

Chapter 6 Asia Pacific Smart Parking Systems Market Analysis
6.1 Key Trends Analysis
      6.1.1 Asia Pacific Smart Parking Systems Market Revenue, 2013 – 2022 (US$ Mn)
6.2 Asia Pacific Smart Parking Systems Market Analysis, by Parking Site, 2013 – 2022 (US$ Mn)
      6.2.1 Asia Pacific Smart Off-Street Parking System Market Revenue, 2013 – 2022 (US$ Mn)
      6.2.2 Asia Pacific Smart On-Street Parking System Market Revenue, 2013 – 2022 (US$ Mn)
6.3 Asia Pacific Smart Parking Systems Market Revenue, by Component, 2013 – 2022 (US$ Mn)
      6.3.1 Asia Pacific Smart Parking Sensor and Network Hardware Market Revenue, 2013 – 2022 (US$ Mn)
      6.3.2 Asia Pacific Smart Parking Software (Management and Analytics Software and Mobile Applications) Market Revenue, 2013 – 2022 (US$ Mn)
      6.3.3 Asia Pacific Smart Parking Services Market Revenue, by Service Type, 2013 – 2022 (US$ Mn)
              6.3.3.1 Asia Pacific Smart Parking System Integration and Installation Services Market Revenue, 2013 – 2022 (US$ Mn)
              6.3.3.2 Asia Pacific Smart Parking Management Services Market Revenue, 2013 – 2022 (US$ Mn)
              6.3.3.3 Asia Pacific Smart Parking System Maintenance Services Market Revenue, 2013 - 2022 (US$ Mn)
6.4 Asia Pacific Smart Parking Systems Market, By Application Areas, 2013 – 2022 (US$ Mn)
      6.4.1 Asia Pacific Smart Parking Systems Market Revenue for Airports Application Areas, 2013 – 2022 (US$ Mn)
      6.4.2 Asia Pacific Smart Parking Systems Market Revenue for Government and Municipalities Application Areas, 2013 – 2022 (US$ Mn)
      6.4.3 Asia Pacific Smart Parking Systems Market Revenue for Corporate and Commercial Institutions Application Areas, 2013 – 2022 (US$ Mn)
6.5 Asia Pacific Smart Parking Systems Market, By Region, 2013 – 2022 (US$ Mn)
      6.5.1 Japan Smart Parking Systems Market, 2013 - 2022 (US$ Mn)
      6.5.2 China Smart Parking Systems Market, 2013 - 2022 (US$ Mn)
      6.5.3 South Asia Smart Parking Systems Market, 2013 - 2022 (US$ Mn)
      6.5.4 Australasia Smart Parking Systems Market, 2013 - 2022 (US$ Mn)
      6.5.5 Rest of Asia Pacific Smart Parking Systems Market, 2013 - 2022 (US$ Mn)

Chapter 7 Middle East and Africa (MEA) Smart Parking Systems Market Analysis
7.1 Key Trends Analysis
      7.1.1 MEA Smart Parking Systems Market Revenue, 2013 – 2022 (US$ Mn)
7.2 MEA Smart Parking Systems Market Analysis, by Parking Site, 2013 – 2022 (US$ Mn)
      7.2.1 MEA Smart Off-Street Parking System Market Revenue, 2013 – 2022 (US$ Mn)
      7.2.2 MEA Smart On-Street Parking System Market Revenue, 2013 – 2022 (US$ Mn)
7.3 MEA Smart Parking Systems Market Revenue, by Component, 2013 – 2022 (US$ Mn)
      7.3.1 MEA Smart Parking Sensor and Network Hardware Market Revenue, 2013 – 2022 (US$ Mn)
      7.3.2 MEA Smart Parking Software (Management and Analytics Software and Mobile Applications) Market Revenue, 2013 – 2022 (US$ Mn)
      7.3.3 MEA Smart Parking Services Market Revenue, by Service Type, 2013 – 2022 (US$ Mn)
              7.3.3.1 MEA Smart Parking System Integration and Installation Services Market Revenue, 2013 – 2022 (US$ Mn)
              7.3.3.2 MEA Smart Parking Management Services Market Revenue, 2013 – 2022 (US$ Mn)
              7.3.3.3 MEA Smart Parking System Maintenance Services Market Revenue, 2013 - 2022 (US$ Mn)
7.4 MEA Smart Parking Systems Market, By Application Areas, 2013 – 2022 (US$ Mn)
      7.4.1 MEA Smart Parking Systems Market Revenue for Airports Application Areas, 2013 – 2022 (US$ Mn)
      7.4.2 MEA Smart Parking Systems Market Revenue for Government and Municipalities Application Areas, 2013 – 2022 (US$ Mn)
      7.4.3 MEA Smart Parking Systems Market Revenue for Corporate and Commercial Institutions Application Areas, 2013 – 2022 (US$ Mn)
7.5 MEA Smart Parking Systems Market, By Region, 2013 – 2022 (US$ Mn)
      7.5.1 GCC Countries Smart Parking Systems Market, 2013 – 2022 (US$ Mn)
      7.5.2 South Africa Smart Parking Systems Market, 2013 – 2022 (US$ Mn)
      7.5.3 Rest of MEA Smart Parking Systems Market, 2013 – 2022 (US$ Mn)

Chapter 8 Latin America Smart Parking Systems Market Analysis
8.1 Key Trends Analysis
      8.1.1 Latin America Smart Parking Systems Market Revenue, 2013 – 2022 (US$ Mn)
8.2 Latin America Smart Parking Systems Market Analysis, by Parking Site, 2013 – 2022 (US$ Mn)
      8.2.1 Latin America Smart Off-Street Parking System Market Revenue, 2013 – 2022 (US$ Mn)
      8.2.2 Latin America Smart On-Street Parking System Market Revenue, 2013 – 2022 (US$ Mn)
8.3 Latin America Smart Parking Systems Market Revenue, by Component, 2013 – 2022 (US$ Mn)
      8.3.1 Latin America Smart Parking Sensor and Network Hardware Market Revenue, 2013 – 2022 (US$ Mn)
      8.3.2 Latin America Smart Parking Software (Management and Analytics Software and Mobile Applications) Market Revenue, 2013 – 2022 (US$ Mn)
      8.3.3 Latin America Smart Parking Services Market Revenue, by Service Type, 2013 – 2022 (US$ Mn)
              8.3.3.1 Latin America Smart Parking System Integration and Installation Services Market Revenue, 2013 – 2022 (US$ Mn)
              8.3.3.2 Latin America Smart Parking Management Services Market Revenue, 2013 – 2022 (US$ Mn)
              8.3.3.3 Latin America Smart Parking System Maintenance Services Market Revenue, 2013 - 2022 (US$ Mn)
8.4 Latin America Smart Parking Systems Market, By Application Areas, 2013 – 2022 (US$ Mn)
      8.4.1 Latin America Smart Parking Systems Market Revenue for Airports Application Areas, 2013 – 2022 (US$ Mn)
      8.4.2 Latin America Smart Parking Systems Market Revenue for Government and Municipalities Application Areas, 2013 – 2022 (US$ Mn)
      8.4.3 Latin America Smart Parking Systems Market Revenue for Corporate and Commercial Institutions Application Areas, 2013 – 2022 (US$ Mn)
8.5 Latin America Smart Parking Systems Market, By Region, 2013 – 2022 (US$ Mn)
      8.5.1 Brazil Smart Parking Systems Market, 2013 – 2022 (US$ Mn)
      8.5.2 Rest of Latin America Smart Parking Systems Market, 2013 – 2022 (US$ Mn)

Chapter 9 Company Profiles
9.1 Streetline, Inc.
9.2 Smart Parking Limited
9.3 Amano McGann
9.4 Nedap N.V.
9.5 Cisco System, Inc.
9.6 Urbiotica
9.7 Parkmobile LLC
9.8 ParkMe, Inc.
9.9 Skidata AG
9.10 Swarco AG
9.11 Worldsensing

List of Figures

FIG. 1 Market Segmentation: Global Smart Parking Systems Market
FIG. 2 Secondary Research
FIG. 3 Primary Research
FIG. 4 Market Sizing Methodology: Stage 1
FIG. 5 Market Sizing Methodology: Stage 2
FIG. 6 Forecast Methodology
FIG. 7 Global Smart Parking Systems Market, 2013 – 2022, Revenue (US$ Mn) and Y-o-Y Growth (%)
FIG. 8 Global Smart Parking Systems Market, by Parking Site, 2014 (US$ Mn)
FIG. 9 Global Smart Parking Systems Market, by Component, 2014 (US$ Mn)
FIG. 10 Global Smart Parking Systems Market, by Application Areas, 2014 (US$ Mn)
FIG. 11 Global Smart Parking Systems Market, by Geography, 2014 (US$ Mn)
FIG. 12 Parking and Societal Changes (% of Respondents)
FIG. 13 Vehicles in Use Worldwide (in Thousand Units), 2005 - 2013
FIG. 14 Market Positioning of Key Players in Smart Parking Systems Market (2014)
FIG. 15 Global Smart Parking Systems Market Revenue, 2013 - 2022 (US$ Mn)
FIG. 16 North America Smart Parking Systems Market Revenue, 2013 – 2022 (US$ Mn)
FIG. 17 Europe Smart Parking Systems Market Revenue, 2013 – 2022 (US$ Mn)
FIG. 18 Asia Pacific Smart Parking Systems Market Revenue, 2013 – 2022 (US$ Mn)
FIG. 19 MEA Smart Parking Systems Market Revenue, 2013 – 2022 (US$ Mn)
FIG. 20 Latin America Smart Parking Systems Market Revenue, 2013 – 2022 (US$ Mn)

List of Tables

TABLE 1 Market Snapshot: Global Smart Parking Systems (2014 and 2022)
TABLE 2 Global Smart Parking Systems Market Revenue, by Parking Site, 2013 – 2022 (US$ Mn)
TABLE 3 Global Smart Parking Systems Market Revenue, by Component, 2013 – 2022 (US$ Mn)
TABLE 4 Global Smart Parking Services Market Revenue, by Service Type, 2013 – 2022 (US$ Mn)
TABLE 5 Global Smart Parking Systems Market Revenue, by Application Areas, 2013 – 2022 (US$ Mn)
TABLE 6 North America Smart Parking Systems Market Revenue, by Parking Site, 2013 – 2022 (US$ Mn)
TABLE 7 North America Smart Parking Systems Market Revenue, by Component, 2013 – 2022 (US$ Mn)
TABLE 8 North America Smart Parking Services Market Revenue, by Service Type, 2013 – 2022 (US$ Mn)
TABLE 9 North America Smart Parking Systems Market Revenue, by Application Areas, 2013 – 2022 (US$ Mn)
TABLE 10 North America Smart Parking Systems Market Revenue, by Region, 2013 – 2022 (US$ Mn)
TABLE 11 Europe Smart Parking Systems Market Revenue, by Parking Site, 2013 – 2022 (US$ Mn)
TABLE 12 Europe Smart Parking Systems Market Revenue, by Component Type, 2013 – 2022 (US$ Mn)
TABLE 13 Europe Smart Parking Services Market Revenue, by Service Type, 2013 – 2022 (US$ Mn)
TABLE 14 Europe Smart Parking Systems Market Revenue, by Application Areas, 2013 – 2022 (US$ Mn)
TABLE 15 Europe Smart Parking Systems Market Revenue, by Region, 2013 – 2022 (US$ Mn)
TABLE 16 Asia Pacific Smart Parking Systems Market Revenue, by Parking Site, 2013 – 2022 (US$ Mn)
TABLE 17 Asia Pacific Smart Parking Systems Market Revenue, by Component, 2013 – 2022 (US$ Mn)
TABLE 18 Asia Pacific Smart Parking Services Market Revenue, by Service Type, 2013 – 2022 (US$ Mn)
TABLE 19 Asia Pacific Smart Parking Systems Market Revenue, by Application Areas, 2013 – 2022 (US$ Mn)
TABLE 20 Asia Pacific Smart Parking Systems Market Revenue, by Region, 2013 – 2022 (US$ Mn)
TABLE 21 MEA Smart Parking Systems Market Revenue, by Parking Site, 2013 – 2022 (US$ Mn)
TABLE 22 MEA Smart Parking Systems Market Revenue, by Component, 2013 – 2022 (US$ Mn)
TABLE 23 MEA Smart Parking Services Market Revenue, by Service Type, 2013 – 2022 (US$ Mn)
TABLE 24 MEA Smart Parking Systems Market Revenue, by Application Areas, 2013 – 2022 (US$ Mn)
TABLE 25 MEA Smart Parking Systems Market Revenue, by Region, 2013 – 2022 (US$ Mn)
TABLE 26 Latin America Smart Parking Systems Market Revenue, by Parking Site, 2013 – 2022 (US$ Mn)
TABLE 27 Latin America Smart Parking Systems Market Revenue, by Component, 2013 – 2022 (US$ Mn)
TABLE 28 Latin America Smart Parking Services Market Revenue, by Service Type, 2013 – 2022 (US$ Mn)
TABLE 29 Latin America Smart Parking Systems Market Revenue, by Application Areas, 2013 – 2022 (US$ Mn)
TABLE 30 Latin America Smart Parking Systems Market Revenue, by Region, 2013 – 2022 (US$ Mn)


Smart parking is the integration of navigation and travel planning process with elements such as electronic parking payment systems, automated and robotic parking systems and parking guidance systems. The increasing number of vehicles worldwide is intensifying the need for better management of parking lots. This has increased the demand for smart parking systems in the parking facilities in urban areas. The need for transportation sustainability in urban areas has amplified the need for scalable, flexible, space efficient and easy to use parking systems. Efficiently managed parking spaces enable the drivers to park faster and also reduce carbon emission from vehicles. Various technological developments such as introduction of IP cameras, and pay and display parking meters in smart parking systems have further increased the demand for smart parking systems across the globe. The municipalities have large unused parking assets as compared to other corporate and commercial institutions. During the recent years, smart parking vendors have started collaborating with such municipalities and public parking lot owners for the deployment of smart parking systems. This is expected to significantly boost the growth of smart parking systems market during the recent years. System integration and interoperability issues pose a major challenge for the growth of smart parking systems market due to the involvement of multiple hardware and software platforms. Such variety in solution availability generates system scalability concerns. Budgetary pressures due to economic volatility are also posing a challenge to the growth of smart parking systems market in various regions. Bundling of smart parking systems with other value added services will be a good opportunity for the smart parking system vendors to grow in the near future. The global smart parking systems market has generated revenue of US$ 39.46 Mn in 2014 and is projected to grow at a CAGR of 20.2% during the forecast period (2015 – 2022) to reach a market size of US$ 177.10 Mn by 2022.

On the basis of parking site types, the smart parking systems market is categorized into on-street parking and off-street parking. In off-street parking, the smart parking systems provide automatic entry and exit systems that count the vehicles that are entering as well as leaving the park lot. Thus, it provides accurate vehicle occupancy at any period of time. Based on components, smart parking systems market is categorized into sensor and network hardware, software and services. The smart parking services include system integration and installation, and parking management and maintenance. The parking management services provide various tried and tested management solutions that help in parking related decision making for both on-street and off-street parking areas along with optimum performance of the parking systems used by parking operators and drivers. The need for smart parking services is significantly increasing among the users as services help in increasing the lifecycle of smart parking systems that are being deployed in the parking facilities. 

smart-parking-systems-market

Government and municipalities are the major application areas in terms of the adoption of smart parking systems. Government and municipal operations are mainly focused on parking enforcement and permit management for public facility, transit based as well as institutional parking. They have traditionally managed their parking lots by using meters without any communication and network systems and advanced payment options. However, initiatives to enhance parking efficacy has increased the adoption of smart parking systems in government and municipalities parking lots during the recent years.

During the coming years, Asia Pacific, Latin America, and Middle East and Africa (MEA) would be the major geographies that will drive the growth of smart parking systems market. In 2014, the key smart parking systems vendors were Streetline, Inc., Smart Parking Limited, Amano McGann, Nedap N.V., Cisco System, Inc., Urbiotica, Parkmobile LLC, ParkMe, Inc., Skidata AG and Swarco AG.

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