Smart Parking Systems Market - Global Industry Analysis,
Size, Share, Growth, Trends and Forecast 2015 – 2022
100 Page Report
Smart Parking Systems Market Expected to Reach US$ 177.10
Mn by 2022 Globally : Transparency Market Research
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Smart Parking Systems Market
Smart parking system provides real-time information about the availability of parking space in a particular
location, thereby enabling hassle-free vehicle parking while saving on time, cost, and fuel. It consists of
low-cost sensors, real-time data collection and analytics, and automated payment systems that allow
people to find parking in desired locations and pay for it in advance.
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Once deployed, the smart parking system helps in reducing exhaust emissions from cars in urban cities by
reducing the needless circling of city blocks in the search of parking space. It also efficiently manages the
availability of parking space for cities and controls illegal parking. The rapid growth in the number of
vehicles worldwide is increasing the scarcity of parking space, which is further magnifying the need for
smart and innovative parking systems. Whether at airports or shopping centers, parking issues are a
regular occurrence, in turn hurting the local business and affecting the quality of life of the city residents.
These intelligent parking management systems provide high levels of convenience to the drivers while
simplifying and automating the parking site operations. Deploying smart parking systems in cities requires
data collection and...