Smart parking market worldwide market size, status, revenue, growth rate, CA GR % with 2021 Smart Parking Market worth 5.25 Billion USD by 2021
"Smart parking market by system (guided & smart park), technology (ultrasonic, radar, image), component, parking management by solution (security & surveillance, valet & parking reservation, license plate recognition), and vertical - global forecast to 2021", the passenger car smart parking market is projected to grow at a CAGR of 17.94% during the forecast period, to reach a market size of USD 5.25 billion by 2021 from USD 2.13 billion in 2015.
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Smart parking market : expected to register the highest growth rate The smart parking market is projected to grow at a CAGR of 17.94% from 2016 to 2021, to reach a market size of USD 5.25 billion by 2021. The market is driven by factors such as limited parking space availability, growing number of accidents caused by vehicles reversing out of parking spaces and growing consumer demand for advanced vehicle and passenger safety systems in passenger cars.
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Smart parking would be the fastest growing segment in the passenger cars park assist market The smart parking market is projected to grow at the highest CAGR during the forecast period. The growth of this market is driven by factors such as increasing innovation and automation in vehicles, increasing consumer’s preference for driver assistance features in passenger cars, growing concern over parking damages and accidents caused by human error while parking and environmental concerns and stringent emission regulation.
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Browse 78 market data tables and 58 figures spread through 164 pages and in-depth TOC on “smart parking market by system (guided & smart park), technology (ultrasonic, radar, image), component, parking management by solution (security & surveillance, valet & parking reservation, license plate recognition), and vertical global forecast to 2021�
This study answers several questions for the stakeholders, primarily which market segments to focus on in the next two to five years to prioritize efforts and investments.
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