According to Data Bridge Market Research new Market report, global smart parking market will account to reach an estimated USD 3.38 billion in 2018 growing at a CAGR of 17.85% during the forecast period of 2019 to 2026.
Access Full Report at https://databridgemarketresearch.com/reports/global-smart-parking-market/
Smart parking can be defined as an automotive technology which combines various sensors and modern technology which results in reduced consumption of other resources achieving an efficiency of operations. The sensors connected on the parking infrastructure, parking areas, vehicles, are interconnected which combine the information collected to park the vehicles without the risk of any harm towards the vehicle.
Global smart parking market is segmented on the basis of system type, component, sensor technology, vertical, solution and geography.
By System Type (Guided Park Assist, Smart Park Assist), Component (Parking Sensors, Steering Angle Sensors, ECU, Display Unit), Sensor Technology (Ultrasonic Sensor, Radar Sensor, Image Sensor), Vertical (Government, Commercial), Solution (Security & Surveillance, Parking Reservation Management, Valet Parking Management, License Plate Recognition), Geography (North America, South America, Europe, Asia-Pacific, Middle East & Africa)
FACTORS DRIVING GROWTH IN SMART PARKING MARKET
Innovations and adoption of technology from the various regions
Few of the major competitors currently working in the smart parking market are Robert Bosch GmbH, Continental AG, Valeo, Delphi Technologies, AISIN SEIKI Co. Ltd., Siemens AG, Cubic Corporation, Amano Corporation, Kapsch TrafficCom AG, AppyParking, Smart Parking, TKH GROUP, and Nedap.
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Global Smart Parking Market- Industry Trends and Forecast to 2026