Smart Parking Market worth 5.25 Billion USD by 2021

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Smart parking market worldwide market size,
status, revenue, growth rate, CAGR with 2021

• Smart Parking Market worth 5.25 Billion USD by
  2021

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"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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3
Smart parking market expected to register the
highest growth rateThe 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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4
Smart parking would be the fastest growing
segment in the passenger cars park assist
marketThe 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 consumers
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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5
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 2021This 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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