Published by VLMS GLOBAL Consulting INC
Posted on September 27, 2021
6 min readLast updated: February 2, 2026
The Smart Parking Market is set to grow from USD 6.59 Billion in 2020 to USD 16.74 Billion by 2028, driven by innovations and key players like Urbiotica.
Smart parking is a smart parking system that helps drivers park their cars safely. The installed software and sensors help detect free space in the parking lot by indicating free space with signs or signs. Proper vehicle maintenance will help you determine the free space correctly. Smart parking systems use different types of sensors as hardware components to detect the presence or absence of vehicles in the parking lot. Providing real-time data on parking space availability helps reduce interference with other vehicles in the same parking space.
Smart Parking Market was valued at USD 6.59 Billion in 2020 and is projected to reach USD 16.74 Billion by 2028, growing at a CAGR of 12.36% from 2021 to 2028.
The Smart Parking Market report contains the most basic information about the market. This comprehensive report offers insights into the market, models, and drivers of business growth. It also includes Smart Parking Market share, sales volume, and education charts. He was able to combine important and additional information, such as commitments from market leaders, into a well-designed report. Smart Parking Market Report is an essential view of strategies and information. It is mainly aimed at business leaders. The primary objective of this Smart Parking report is to provide industry knowledge and help our clients achieve natural growth in their respective fields. The Smart Parking report also shows a new uptrend which includes market conditions and market forecast 2021-2028.
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This study presents the principles of the Smart Parking Market: regional definitions and analysis, review of software and activities, sector strategies and guidelines, product specifications, production methods, price agreements, etc. The report ends with a SWOT Bare Metal Cloud Assessment, Investment Feasibility Assessment, and Return Investment Assessment.
Top Players Landscape and Profiling in Smart Parking Market:
The major players in the market are Urbiotica, Swarco AG, Smart Parking Limited, Robert Bosch GmbH, Klaus Multiparking Systems, IPS Group Inc., Amano McGann, Inc., Continental AG, Dongyang Menics Co., Ltd, IEM SA among others.
Market Segmentation: Smart Parking Market
The Smart Parking Market is segmented into Component, Technology, Type, Application, End-User, And Geography.
Smart Parking Market, By Component
• Hardware
• Software
• Services
Smart Parking Market, By Technology
• IoT
• Ultrasonic
• RFID
Smart Parking Market, By Type
• Off-Street
• On-Street
Smart Parking Market, By Application
• Security & Surveillance
• Smart Payment System
• E-parking
• License Plate Recognition
Smart Parking Market, By End-User
• Commercial
• Government
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Key Developments:
• China launched its first robotic diagonal smart parking garage in the city of Nanjing in East China in January 2019.
• In March 2021, EasyPark Group has announced its intention to expand the coverage of its digital parking and mobility services by acquiring rivals Park Now Group.
Smart Parking Geographic Market Analysis:
The Smart Parking Market Report provides information on market areas subdivided into subregions and countries/regions. In addition to national and subregion market share, this chapter of this report also contains information on profit opportunities. This chapter of the report describes the market share and growth rate of each region, country, and sub-region during the estimated period.
– North America (USA, Canada, Mexico)
– Europe (Great Britain, France, Germany, Spain, Italy, Central and Eastern Europe, CIS)
– Asia Pacific (China, Japan, South Korea, ASEAN, India, Rest of Asia Pacific)
– Latin America (Brazil, Rest of LA)
– Middle East and Africa (Turkey, CCG, Rest of the Middle East)
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Key questions answered in Smart Parking Market Report:
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The article focuses on the growth and innovation in the Smart Parking Market from 2021 to 2028.
How is the Smart Parking Market segmented? It is segmented by component, technology, type, application, and end-user.
Who are the key players in the Smart Parking Market? Major players include Urbiotica, Swarco AG, and Continental AG.
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