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Several governments throughout the world are encouraging the implementation of smart parking technology to transform cities into smart cities. For instance, nearly 78 cities in the region have embarked on smart city development with the help of the European Innovation Partnership on Smart Cities and Communities (EIP-SCC). Such factors are fueling the growth of the smart parking market. The restraining factors in the growth of the market are high initial setup costs, moreover, the configuration of the same is a tedious job. Lack of trained staff is also a key challenge in this market. However, technological advancements like the deployment of more IoT services/platforms and population inclination towards smart cities will contribute to the growth of the market during the forecast period.
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- Market Coverage
- Market number available for – 2024-2031
- Base year- 2024
- Forecast period- 2024-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Smart Parking Market Report Segment
By Solution
- License/Registration Plate Recognition
- Parking Reservation Management
- Security And Surveillance
- Valet Parking Management
By Parking Site
- On-Street Parking
- Off-Street Parking
By Application
- Commercial
- Government
- Others (Airports, Personal)
By Components
- Display Units
- Parking Sensors
- Steering Angle Sensors
- Electronic Control Units
- Others (Parking Meters, Electronic Billing)
Global Smart Parking Market Report Segment by Region
North America
- United States
- copyright
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
The Report Covers
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global smart parking market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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