(MENAFNEditorial) iCrowdNewswire - Aug 29, 2017
This Smart Parking Market report represents the revenue opportunities in the market through to 2021, highlights the market size and growth by technology, geography, type and size. The report outlines the evolution of the industry and identifies and assesses the best performing vendors in the market.
Study on Smart Parking Market highlights key players such as Robert Bosch GmbH, Continental AG, Valeo S.A., Delphi Automotive PLC, Aisin Seiki Co., Ltd, Smart Parking Solution Providers, Siemens AG, Xerox Corporation, Cubic Corporation, Amano Corporation, Kapsch Trafficcom AG, TKH GroupPark Assist, Nedap Identification Systems.
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The passenger car smart parking market is projected to grow at a CAGR of 17.94%, to reach a market size of USD 5.25 billion by 2021. Worldwide vehicle production has increased from 84.2 million in 2012 to 90.8 million in 2015. Furthermore since 2012, with a growth of 8.6%, total passenger car production increased to 68.5 million in 2015. This rapid increase in the number of cars on the road has not led to a similar increase in availability of parking space.
Premium Insights:
- Attractive Opportunities in the Smart Parking Market
- Smart Parking Market, By Country
- Smart Parking Market, By Sensor Technology
- Smart Parking Market, By Type
- Smart Parking Market, By Component
- Parking Management Market, By Solution
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Parking sensors dominate the smart parking component market for passenger cars. Parking sensors not only help in reducing the damage caused to vehicle during parking and reverse but can also help in reducing traffic congestion by offering a better view or idea about the rear environment by alerting the driver. The number of parking sensors used in a smart park assist system varies according to OEM and vehicle model. In order to reduce accidents caused by vehicles reversing out of a parking space, the U.S. National Highway Traffic Safety Administration (NHTSA) ruled that all new passenger cars shall be equipped with rear view cameras from 2018 onwards. Even the Indian Ministry of Road Transport and Highway (MoRTH) is expected to make rear view sensors mandatory for all passenger vehicles in India. Governments across the world are in the process of implementing regulations to make reverse parking sensors mandatory in vehicles.
Key Points From Table Of Content:
7 Passenger Car Smart Parking Market, By Component
7.1 Introduction
7.2 Passenger Car Smart Parking Market, By Component
7.2.1 Parking Sensors Market, By Region
7.2.2 Steering Angle Sensors Market, By Region
7.2.3 Electronic Control Unit (ECU) Market, By Region
7.2.4 Display Unit Market, By Region
10 Parking Management Market, By Solution
10.1 Introduction
10.2 Parking Management Market, By Solution
10.3 Security and Surveillance
10.3.1 Security and Surveillance Parking Management Market, By Region
10.4 Parking Reservation Management
10.4.1 Parking Reservation Management Market, By Region
10.5 Valet Parking Management
10.5.1 Valet Parking Management Market, By Region
10.6 License Plate Recognition
10.6.1 License Plate Recognition Market, By Region
Complete report on Smart Parking Market spread across 164 Pages, Profiling 6 Companies and Supported with 78 Tables and 58 Figures is now available at
The smart parking market has been segmented based on park assist system type (guided park assist, smart park assist), components (parking sensors, steering angle sensors, display units, ECU), sensor technology (ultrasonic, radar and image), parking management market by vertical (government and commercial) and parking management solutions (security and surveillance, valet parking management, parking reservation management and license plate recognition). The market has been given in terms of volume (000/million units) and value (USD million/billion).
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