Market Research Insights

  San Francisco, 31 Jan 2024:  The Report  Smart Parking Systems Market  Size, Share, & Trends Analysis Report By Hardware (Pucks, Cameras & LPRs, Smart Meters, Signage), By Software, By Service, By Type, By Application, By Region, And Segment Forecasts, 2023 - 2030 The global smart parking systems market is expected to reach USD 30.16 billion by 2030 and expand at a significant CAGR of 22.1% from 2023 to 2030 according to Grand View Research, The smart parking systems market is expected to witness remarkable growth during the forecast period owing to the subsequent rise in traffic congestion and an increasing number of automobiles on roads. Further, an increase in the number of smartphone users worldwide simultaneously increases the number of users to park, pay, and book the slots in advance over mobile apps, supporting the smart parking systems market growth. Favorable government policies & regulations and investments are accelerating the smar...

  San Francisco, 23 June 2021:   The Report  Smart Parking Systems Market  Size, Share & Trends Analysis Report By Hardware, By Software, By Service (Consulting Service, Engineering Service), By Type, By Application, By Region, And Segment Forecasts, 2021 - 2028 The global smart parking systems market size is expected to reach USD 19.3 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 21.5% from 2021 to 2028. This growth is attributed to increasing number of automobiles on roads and the subsequent rise in traffic congestions. However, the COVID-19 pandemic has considerably slowed down the market due to the varying levels of lockdowns implemented across several countries globally. The impact of this slowdown is expected to be experienced in the short term. As the world re-opens, Smart Parking Systems (SPSs) are expected to regain demand due to the potential rise in the use of private tra...