Global Smart Parking Market Report 2022: A Market Valued at $11.87 Billion by 2027 - Focus on Security and Surveillance, Smart Payment Systems, E-Parking, and License Plate Recognition - ResearchAndMarkets.com

The "Global Smart Parking Market (2022-2027) by Type, Technology, Application, End-User, Hardware, Service, Software Outlook and Geography, Competitive Analysis and the Impact of Covid-19 with Ansoff Analysis" report has been added to ResearchAndMarkets.com's offering.

The Global Smart Parking Market is estimated to be USD 7.03 Bn in 2022 and is expected to reach USD 11.87 Bn by 2027, growing at a CAGR of 11.05%.

Market dynamics are forces that impact the prices and behaviors of the Global Smart Parking Market stakeholders. These forces create pricing signals which result from the changes in the supply and demand curves for a given product or service. Forces of Market Dynamics may be related to macro-economic and micro-economic factors. There are dynamic market forces other than price, demand, and supply. Human emotions can also drive decisions, influence the market, and create price signals.

As the market dynamics impact the supply and demand curves, decision-makers aim to determine the best way to use various financial tools to stem various strategies for speeding the growth and reducing the risks.

Company Profiles

The report provides a detailed analysis of the competitors in the market. It covers the financial performance analysis for the publicly listed companies in the market. The report also offers detailed information on the companies' recent development and competitive scenario.

Some of the companies covered in this report are Aisin Seiki, Altiux Innovations, Amano McGann Inc., BMW Group, CivicSmart, Inc., Continental AG, Cubic Corporation, Daimler AG, Flowbird, Giken Limited, Gtechna, Kapsch TrafficCom, etc.

Competitive Quadrant

The report includes Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories.

Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

Ansoff Analysis

The report presents a detailed Ansoff matrix analysis for the Global Smart Parking Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company.

The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.

The analyst analyses Global Smart Parking Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.

Market Segmentation

• The Global Smart Parking Market is segmented based on Type, Technology, Application, End-User, Hardware, Service, Software Outlook and Geography.
• Type, the market is classified into Off-Street, and On- Street.
• Technology, the market is classified into Internet of Things (IoT), Ultrasonic, and RFID.
• Application, the market is classified into Security and Surveillance, Smart Payment Systems, E-Parking, and License Plate Recognition.
• End-User, the market is classified into Commercial, Government, and Transport Transit.
• Hardware, the market is classified into Pucks, Cameras and LPRs, Smart Meters, Signage, and Parking gate.
• Service, the market is classified into Consulting Services, Engineering Services, and Mobile App Parking Services.
• Software Outlook, the market is classified into Parking Guidance System, and Analytics Solution.

Market Dynamics

Drivers

• Increasing Urbanization and Space Concerns
• Growing Demand for Personal Vehicles
• Rising Adoption of IoT In Parking

Restraints

• High Cost of Investment and Maintenance

Opportunities

• Advancements in Smart Parking Technology
• Development of Smart Cities

Challenges

• Low Availability of Support Infrastructure
• Complex Technology and Lack of Skilled Personnel

Company Profiles

• Aisin Seiki
• Altiux Innovations
• Amano McGann Inc.
• BMW Group
• CivicSmart, Inc.
• Continental AG
• Cubic Corporation
• Daimler AG
• Flowbird
• Giken Limited
• Gtechna
• Kapsch TrafficCom
• Meter Feeder, Inc.
• Mindteck
• Municipal Parking Services, Inc.
• Nedap N.V.
• Park Assist
• ParkHelp Technologies
• ParkJockey
• ParkMe Inc.
• Robert Bosch GmbH
• Siemens AG
• Smart Parking Ltd.
• Valeo S.A.
• Volkswagen AG

For more information about this report visit https://www.researchandmarkets.com/r/cersth

View source version on businesswire.com: https://www.businesswire.com/news/home/20220922005774/en/