The smart parking systems market was valued at US$ 398.6 million in 2016 and is projected to reach US$ 1,462.3 million by 2025; it is expected to grow at a CAGR of 15.7% during 2017–2025.
Parking has been a challenging issue, especially in the urban landscape, where 30% – 40% of all traffic congestion is mainly caused by drivers struggling to find a parking space. Increasing number of vehicles running on road, surging sizes of vehicles in the luxurious segment, and decrease in the available parking space are influencing the traffic congestion, making it an alarming issue globally. Also, limited availability of data required to guide a driver’s decisions tend to waste lot of time, subsequently fuelling the parking woes in urban areas. This also causes environmental damages such as increase in carbon dioxide emissions, sound pollution, and land contamination. Somewhere, these parking related issues are also impacting the revenues of local businesses in urban areas. Due to unavailability of proper parking space, many local retail shops tend to lose huge business, significantly impacting their incomes directly.
Parking in itself is a huge industry comprising revenues of more than $100 billion globally, and smart parking systems market is emerging as an attractive potential market for flourished as well as new parking players.
Smart parking systems market currently is experiencing significantly high growth in several developed geographical regions, and is expected to foresee exponential growth in other areas globally in the coming years.
Lucrative Regions for Smart Parking Systems Market
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Market Insights–Smart Parking Systems Market
Growth in The Implementation of IoT Based Smart City Programs
A smart city utilizes the power of technology to run processes efficiently and smoothly making smart parking system as a vital fragment of its framework. Smart technology possesses significant power to maximize the most critical assets of its customers and register responsible development by providing better efficiency, revenue growth, contributing to sustainable future. The graph below depicts the share of investment made in various critical aspects of smart cities, where smart transportation exhibits a significant growth in its investment. Parking being the major concern in modern transportation sector, is expected to gain high attention in coming years. One of the most helpful aspects of a smart city is using technology to ease traffic and parking woes.
Parking Sites Segment Insights
Based on parking sites, the smart parking systems market is segmented into off-street and on-street. On-street parking refers to parking of vehicles on the road side itself, and is majorly controlled by government agencies. On the other hand, in off-street parking vehicles are parked in garages or specific parking areas, being controlled by commercial agencies.
Components Segment Insights
Intelligent/smart parking systems comprises majorly of two elements, namely; hardware and software. To support smooth functioning of these two elements concerned services are provided. So, in this research study we have segmented the smart parking systems market into three components; hardware, software, and services. The total revenues in the global smart parking systems market comprises of accumulated revenues coming from these three components.
End-user Industries Segment Insights
Based on end-user industries, the smart parking systems market is segmented into transport facilities, government & municipalities, commercial institutions, and corporate institutions. The airports in the transportation facilities are the major contributors to the smart parking systems market. As number of footfalls in such places is high and therefore management of parking spaces has become a priority making therefore transportation facilities capture the most of market. However, the government authorities are also initiating the adoption of smart parking for public parking spaces such as on-street parking and public garages.
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Smart Parking Systems Market: Strategic Insights
Market Size Value in US$ 398.6 Million in 2016 Market Size Value by US$ 1,462.3 Million by 2025 Growth rate CAGR of 15.7% from 2017-2025 Forecast Period 2017-2025 Base Year 2017
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Smart Parking Systems Market: Strategic Insights
| Market Size Value in | US$ 398.6 Million in 2016 |
| Market Size Value by | US$ 1,462.3 Million by 2025 |
| Growth rate | CAGR of 15.7% from 2017-2025 |
| Forecast Period | 2017-2025 |
| Base Year | 2017 |
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The market players focus on new product innovations and developments by integrating advanced technologies and features in their products to compete with the competitors.
2017:Amano Mcgann extended its partnership with one of its oldest dealers PSX to Colorado.
2017:Valeo and Cisco announced a cooperation agreement to develop strategic innovations in smart mobility services.
2017:Smart Parking announced that it won a new contract in New Zealand, chosen by Wilson Parking New Zealand as the preferred supplier of sensor and bay-finding technology at nine new sites.
2017:Smart Parking launched its newly designed SmartSpot IoT Gateway, with new and improved features adapted to meet the needs of smart city.
The Global Smart Parking Systems Market has been Segmented as Follows:
The Global Smart Parking Systems Market has been Segmented as Follows:
Smart Parking Systems Market – by Parking Sites
- Off-Street
- On-Street
Smart Parking Systems Market – by Vehicle Type
- Hardware
- Software
- Services
Smart Parking Systems Market – by End User Industries
- Transport Facilities
- Government & Municipalities
- Commercial Institutions
- Corporate Institutions
Smart Parking Systems Market – by Geography
North America
- US
- Canada
- Mexico
Europe
- France
- Germany
- Italy
- UK
- Russia
- Rest of Europe
Asia Pacific (APAC)
- China
- India
- South Korea
- Japan
- Rest of APAC
Middle East & Africa (MEA)
- South Africa
- Rest of MEA
South America (SAM)
- Brazil
- Argentina
- Rest of SAM
Smart Parking Systems Market – Companies Profiles
- Amano McGann, Inc.
- Cisco Systems, Inc.
- Kapsch
- Nedap N.V
- Parkmobile, LLC
- Parkmobile, LLC
- Skidata AG
- Smart Parking Ltd.
- Swarco AG
- SWARCO AG
- Urbiotica
- Xerox Corp.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Parking Site, Method and End-user Industry
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
Table of Contents
1.1 List of Tables
1.2 List of Figures
2 Introduction
2.1 The Insight Partners Research Report Guidance
3 Key Takeaways
4 The Global Smart Parking Systems Market Landscape
4.1 Overview
4.2 Market Segmentation
4.2.1 Global Smart Parking Systems Market – By Parking Site
4.2.2 Global Smart Parking Systems Market – By Components
4.2.3 Global Smart Parking Systems Market – By End-user Industry
4.2.4 Global Smart Parking Systems Market – By Geography
4.3 Value Chain Analysis
5 The Global Smart Parking Systems Market – Key Industry Dynamics
5.1 Key Market Drivers
5.1.1 Rising Vehicular Population and Limited Availability of Parking Spaces
5.1.2 Growth in the implementation of IoT based Smart City Programs is Expected to Bolster the Smart Parking Systems Market
5.1.3 Municipalities are switching to Smart Parking Systems
5.1.4 The Need for Scalable, Flexible, Space Efficient and Easy Parking Systems
5.2 Key Market Restraints
5.2.1 Low Consumer Awareness and Limited Funding for Smart Parking Deployment
5.2.2 Interoperability and System Integration Issues
5.3 Key Market Opportunities
5.3.1 Provision of Bundled Car-Oriented Services with Smart Parking is expected to Open New Avenues for Revenue
5.3.2 Rising Interest of Major Automotive Companies in Smart Parking Systems
5.4 Future Trends
5.4.1 Operating on a Revenue Sharing Model
5.4.2 Switching to LoRAWAN Technology
5.4.3 Introduction of NWave Technology
6 The Smart Parking Systems Market – Five Forces Analysis
6.1 Porters Five Forces Analysis
6.1.1 Bargaining Power of Suppliers
6.1.2 Bargaining Power of Buyers
6.1.3 Threat of Substitutes
6.1.4 Threat of New Entrants
6.1.5 Degree of Competition
7 The Smart Parking Systems Market – Competitive Landscape
7.1 Global Smart Parking Systems Market Sales Revenue (US$ Mn), 2014 – 2025
7.2 The Global Smart Parking Systems Market – Key Players by Product Portfolio and Region, 2015
7.2.1 The Global Smart Parking Systems Market – List of Key Players by Product Portfolio, 2015
7.2.2 The Smart Parking Systems Market, Key Players by Region
8 Global Smart Parking Systems Market Analysis – Parking Sites
8.1 Overview
8.2 Off-Street Parking
8.2.1 Overview
8.2.2 Global Off-Street Smart Parking Systems Market Revenue and Forecasts to 2025 (US$ Mn)
8.3 On-Street Parking
8.3.1 Overview
8.3.2 Global On-Street Smart Parking Systems Market Revenue and Forecasts to 2025 (US$ Mn)
9 Global Smart Parking Systems Market Analysis – Components
9.1 Overview
9.2 Hardware
9.2.1 Overview
9.2.2 Global Smart Parking Systems Market Revenue and Forecasts to 2025 (US$ Mn), By Hardware Components
9.3 Software
9.3.1 Overview
9.3.2 Global Smart Parking Systems Market Revenue and Forecasts to 2025 (US$ Mn), By Software Components
9.4 Services
9.4.1 Overview
9.4.2 Global Smart Parking Systems Market Revenue and Forecasts to 2025 (US$ Mn), By Services
10 Global Smart Parking Systems Market Analysis – End-user Industries
10.1 Overview
10.2 Transport Facilities
10.2.1 Overview
10.2.2 Global Smart Parking Systems Market Revenue and Forecasts across Transport Facilities to 2025 (US$ Mn)
10.3 Governments & Municipalities
10.3.1 Overview
10.3.2 Global Smart Parking Systems Market Revenue and Forecasts across Governments & Municipalities to 2025 (US$ Mn)
10.4 Commercial Institutions
10.4.1 Overview
10.4.2 Global Smart Parking Systems Market Revenue and Forecasts across Commercial Institutions to 2025 (US$ Mn)
10.5 Corporate Institutions
10.5.1 Overview
10.5.2 Global Smart Parking Systems Market Revenue and Forecasts across Corporate Institutions to 2025 (US$ Mn)
11 The Global Smart Parking Systems Market – Geographical Analysis
11.1 Overview
11.2 North America Smart Parking Systems Market, Sales Revenue and Forecasts to 2025
11.2.1 Overview
11.2.2 North America Smart Parking Systems Market Revenue and Forecasts to 2025 (US$ Mn)
11.2.3 North America Smart Parking Systems Market Breakdown by Country
11.2.3.1 U.S. Smart Parking Systems Revenue and Forecasts to 2025 (US$ Mn)
11.2.3.2 Canada Smart Parking Systems Revenue and Forecasts to 2025 (US$ Mn)
11.2.3.3 Mexico Smart Parking Systems Revenue and Forecasts to 2025 (US$ Mn)
11.2.4 North America Smart Parking Systems Market Breakdown by Parking Site
11.2.5 North America Smart Parking Systems Market Breakdown by Components
11.2.6 North America Smart Parking Systems Market Breakdown by End-user Industry
11.3 Europe Smart Parking Systems Market, Sales Revenue and Forecasts to 2025
11.3.1 Overview
11.3.2 Europe Smart Parking Systems Market Revenue and Forecasts to 2025 (US$ Mn)
11.3.3 Europe Smart Parking Systems Market Breakdown by Country
11.3.3.1 France Smart Parking Systems Revenue and Forecasts to 2025 (US$ Mn)
11.3.3.2 Germany Smart Parking Systems Revenue and Forecasts to 2025 (US$ Mn)
11.3.3.3 Italy Smart Parking Systems Revenue and Forecasts to 2025 (US$ Mn)
11.3.3.4 Spain Smart Parking Systems Revenue and Forecasts to 2025 (US$ Mn)
11.3.3.5 U.K. Smart Parking Systems Revenue and Forecasts to 2025 (US$ Mn)
11.3.3.6 Rest of Europe Smart Parking Systems Revenue and Forecasts to 2025 (US$ Mn)
11.3.4 Europe Smart Parking Systems Market Breakdown by Parking Site
11.3.5 Europe Smart Parking Systems Market Breakdown by Component
11.3.6 Europe Smart Parking Systems Market Breakdown by End-user Industry
11.4 Asia Pacific (APAC) Smart Parking Systems Market, Sales Revenue and Forecasts to 2025
11.4.1 Overview
11.4.2 Asia Pacific Smart Parking Systems Market Revenue and Forecasts to 2025 (US$ Mn)
11.4.3 The Asia Pacific Smart Parking Systems Market Breakdown by Country
11.4.3.1 Australia Smart Parking Systems Revenue and Forecasts to 2025 (US$ Mn)
11.4.3.2 China Smart Parking Systems Revenue and Forecasts to 2025 (US$ Mn)
11.4.3.3 India Smart Parking Systems Revenue and Forecasts to 2025 (US$ Mn)
11.4.3.4 Japan Smart Parking Systems Revenue and Forecasts to 2025 (US$ Mn)
11.4.3.5 The Rest of APAC Smart Parking Systems Revenue and Forecasts to 2025 (US$ Mn)
11.4.4 Asia Pacific Smart Parking Systems Market Breakdown by Parking Site
11.4.5 Asia Pacific Smart Parking Systems Market Breakdown by Component
11.4.6 Asia Pacific Smart Parking Systems Market Breakdown by End-User Industry
11.5 Middle East & Africa (MEA) Smart Parking Systems Market, Sales Revenue and Forecasts to 2025
11.5.1 Overview
11.5.2 Middle East & Africa Smart Parking Systems Market Revenue and Forecasts to 2025 (US$ Mn)
11.5.3 Middle East & Africa Smart Parking Systems Market Breakdown by Country
11.5.3.1 South Africa Smart Parking Systems Revenue and Forecasts to 2025 (US$ Mn)
11.5.3.2 Saudi Arabia Smart Parking Systems Revenue and Forecasts to 2025 (US$ Mn)
11.5.3.3 UAE Smart Parking Systems Revenue and Forecasts to 2025 (US$ Mn)
11.5.3.4 Rest of MEA Smart Parking Systems Revenue and Forecasts to 2025 (US$ Mn)
11.5.4 Middle East & Africa Smart Parking Systems Market Breakdown by Parking Site
11.5.5 Middle East & Africa Smart Parking Systems Market Breakdown by Component
11.5.6 Middle East & Africa Smart Parking Systems Market Breakdown by End-User Industry
11.6 South America (SAM) Smart Parking Systems Market, Sales Revenue and Forecasts to 2025
11.6.1 Overview
11.6.2 South America Smart Parking Systems Market Revenue and Forecasts to 2025 (US$ Mn)
11.6.3 South America Smart Parking Systems Market Breakdown by Country
11.6.3.1 Brazil Smart Parking Systems Revenue and Forecasts to 2025 (US$ Mn)
11.6.3.2 Rest of SAM Smart Parking Systems Revenue and Forecasts to 2025 (US$ Mn)
11.6.4 South America Smart Parking Systems Market Breakdown by Parking Site
11.6.5 South America Smart Parking Systems Market Breakdown by Component
11.6.6 South America Smart Parking Systems Market Breakdown by End-user Industry
12 Smart Parking Systems Market, Key Company Profiles
12.1 Amano McGann, Inc.
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Financial Overview
12.1.4 SWOT Analysis
12.1.5 Key Developments
12.2 Cisco
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Financial Overview
12.2.4 SWOT Analysis
12.2.5 Key Developments
12.3 Smart Parking Ltd.
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Financial Overview
12.3.4 SWOT Analysis
12.3.5 Key Developments
12.4 Urbiotica
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Financial Overview
12.4.4 SWOT Analysis
12.4.5 Key Developments
12.5 SKIDATA AG
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Financial Overview
12.5.4 SWOT Analysis
12.5.5 Key Developments
12.6 Nedap NV
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 SWOT Analysis
12.6.4 Key Developments
12.7 Kapsch
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 SWOT Analysis
12.7.4 Key Developments
12.8 Xerox Corp.
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Financial Overview
12.8.4 SWOT Analysis
12.8.5 Key Developments
12.9 Parkmobile, LLC
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Financial Overview
12.9.4 SWOT Analysis
12.9.5 Key Developments
12.1 SWARCO AG
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Financial Overview
12.10.4 SWOT Analysis
12.10.5 Key Developments
13 Appendix
13.1 About The Insight Partners
13.2 Glossary of Terms
13.3 Methodology
13.3.1 Coverage
13.3.2 Secondary Research
13.3.3 Primary Research
13.4 Contact Us
13.5 Disclaimer
1.1 List of Tables
Table 1: Smart Parking Systems Market – Porters Five Forces Analysis 33
Table 2: Global Smart Parking Systems Market Sales Revenue (US$ Mn), 2014 – 2025 37
Table 3: Smart Parking Systems Market – List of Key Players by Product Portfolio, 2015 38
Table 4: North America Smart Parking Systems Revenue and Forecasts to 2025 – Parking Site (US$ Mn) 69
Table 5: North America Smart Parking Systems Revenue and Forecasts to 2025 – Components (US$ Mn) 71
Table 6: North America Smart Parking Systems Revenue and Forecasts to 2025 – End-user Industry (US$ Mn) 73
Table 7: Europe Smart Parking Systems Revenue and Forecasts to 2025 – Parking Site (US$ Mn) 84
Table 8: Europe Smart Parking Systems Revenue and Forecasts to 2025 – Components (US$ Mn) 86
Table 9: Europe Smart Parking Systems Revenue and Forecasts to 2025 – End-user Industry (US$ Mn) 88
Table 10: Asia Pacific Smart Parking Systems Revenue and Forecasts to 2025 – Parking Site (US$ Mn) 98
Table 11: Asia Pacific Smart Parking Systems Revenue and Forecasts to 2025 – Components (US$ Mn) 100
Table 12: Asia Pacific Smart Parking Systems Revenue and Forecasts to 2025 – End-user Industry (US$ Mn) 102
Table 13: Middle East & Africa Smart Parking Systems Revenue and Forecasts to 2025 – Parking Site (US$ Mn) 110
Table 14: Middle East & Africa Smart Parking Systems Revenue and Forecasts to 2025 – Components (US$ Mn) 112
Table 15: Middle East & Africa Smart Parking Systems Revenue and Forecasts to 2025 – End-user Industry (US$ Mn) 114
Table 16: South America Smart Parking Systems Revenue and Forecasts to 2025 – Parking Site (US$ Mn) 120
Table 17: South America Smart Parking Systems Revenue and Forecasts to 2025 – Components (US$ Mn) 122
Table 18: South America Smart Parking Systems Revenue and Forecasts to 2025 – End-user Industry (US$ Mn) 124
Table 19: Amano McGann, Inc. Key Facts, 2015 125
Table 20: Amano McGann, Inc. SWOT Analysis 126
Table 21: Cisco Systems, Inc., Key Facts, 2015 129
Table 22: Cisco Systems, Inc., SWOT Analysis 131
Table 23: Smart Parking Ltd., Key Facts, 2015 134
Table 24: Smart Parking Ltd., SWOT Analysis 136
Table 25: Urbiotica, Key Facts, 2015 139
Table 26: Urbiotica, SWOT Analysis 140
Table 27: SKIDATA AG, Key Facts, 2015 143
Table 28: SKIDATA AG, SWOT Analysis 144
Table 29: Nedap NV, Key Facts, 2015 147
Table 30: Nedap NV, SWOT Analysis 149
Table 31: Kapsch, Key Facts, 2015 152
Table 32: Kapsch, SWOT Analysis 154
Table 33: Xerox Corp., Key Facts, 2015 158
Table 34: Xerox Corp., SWOT Analysis 160
Table 35: Parkmobile, LLC, Key Facts, 2015 163
Table 36: Parkmobile, LLC, SWOT Analysis 164
Table 37: SWARCO AG, Key Facts, 2015 167
Table 38: SWARCO AG, SWOT Analysis 168
Table 39: Glossary of Terms, Smart Parking Systems Market 171
1.2 List of Figures
Figure 1: Smart Parking Systems Market, Global Sales Revenue (US$ Mn) 2015 & 2025 18
Figure 2: Global Smart Parking Systems Market Segmentation 20
Figure 3: Global Smart Parking Systems Market Segmentation 21
Figure 4: Global Smart Parking Systems Market – Value Chain Analysis 24
Figure 5: Smart City Smart Infrastructure Investment by Industry, World Market: 2010-2020 26
Figure 6: Growing Urbanization Ratio 27
Figure 7: Smart Parking Systems Market – Porters Five Forces Analysis 33
Figure 8 : Global Smart Parking Systems Market Sales Revenue (US$ Mn), 2014 – 2025 36
Figure 9: Smart Parking Systems Market, Key Players by Region 39
Figure 10: Global Smart Parking Systems Market Breakdown by Parking Site, 2015 (%) 40
Figure 11: Global Smart Parking Systems Market Breakdown by Parking Site, 2025 (%) 41
Figure 12: Global Off-Street Smart Parking Systems Market Revenue and Forecasts to 2025 (US$ Mn) 42
Figure 13: Global Off-Street Smart Parking Systems Market Revenue and Forecasts to 2025 (US$ Mn)44
Figure 14: Global Smart Parking Systems Market Breakdown by Component, 2015 (%) 45
Figure 15: Global Smart Parking Systems Market Breakdown by Component, 2025 (%) 46
Figure 16: Global Smart Parking Systems Market Revenue and Forecasts to 2025 (US$ Mn), By Hardware Components 48
Figure 17: Global Smart Parking Systems Market Revenue and Forecasts to 2025 (US$ Mn), By Software Components 50
Figure 18: Global Smart Parking Systems Market Revenue and Forecasts to 2025 (US$ Mn), By Services 51
Figure 19: Global Smart Parking Systems Market Breakdown by End-User Industry, 2015 (%) 53
Figure 20: Global Smart Parking Systems Market Breakdown by End-User Industry, 2025 (%) 53
Figure 21: Global Smart Parking Systems Market Revenue and Forecasts across Transport Facilities to 2025 (US$ Mn) 55
Figure 22: Global Smart Parking Systems Market Revenue and Forecasts across Governments & Municipalities to 2025 (US$ Mn) 56
Figure 23: Global Smart Parking Systems Market Revenue and Forecasts across Commercial Institutions to 2025 (US$ Mn) 58
Figure 24: Global Smart Parking Systems Market Revenue and Forecasts across Corporate Institutions to 2025 (US$ Mn) 59
Figure 25: Global Smart Parking Systems Market Breakdown by Region, 2015 (%) 61
Figure 26: Global Smart Parking Systems Market Breakdown by Region, 2025 (%) 61
Figure 27: North America Smart Parking Systems Market Sales Revenue and Forecasts to 2025 (US$ Mn) 63
Figure 28: North America Smart Parking Systems Market Breakdown by Key Country, 2015 (%) 64
Figure 29: North America Smart Parking Systems Market Breakdown by Key Country, 2025 (%) 64
Figure 30: U.S. Smart Parking Systems Revenue and Forecasts to 2025 (US$ Mn) 65
Figure 31: Canada Smart Parking Systems Revenue and Forecasts to 2025 (US$ Mn) 66
Figure 32: Mexico Smart Parking Systems Revenue and Forecasts to 2025 (US$ Mn) 67
Figure 33: North America Smart Parking Systems Market Breakdown by Parking Site, 2015 (%) 68
Figure 34: North America Smart Parking Systems Market Breakdown by Parking Site, 2025 (%) 68
Figure 35: North America Smart Parking Systems Market Breakdown by Component, 2015 (%) 70
Figure 36: North America Smart Parking Systems Market Breakdown by Component, 2025 (%) 70
Figure 37: North America Smart Parking Systems Market Breakdown by End-user Industry, 2015 (%) 72
Figure 38: North America Smart Parking Systems Market Breakdown by End-user Industry, 2025 (%) 72
Figure 39: Europe Smart Parking Systems Market Sales Revenue and Forecasts to 2025 (US$ Mn) 74
Figure 40: Europe Smart Parking Systems Market Breakdown by Key Country, 2015 (%) 75
Figure 41: Europe Smart Parking Systems Market Breakdown by Key Country, 2025 (%) 76
Figure 42: France Smart Parking Systems Revenue and Forecasts to 2025 (US$ Mn) 77
Figure 43: Germany Smart Parking Systems Revenue and Forecasts to 2025 (US$ Mn) 78
Figure 44: Italy Smart Parking Systems Revenue and Forecasts to 2025 (US$ Mn) 79
Figure 45: Spain Smart Parking Systems Revenue and Forecasts to 2025 (US$ Mn) 80
Figure 46: U.K. Smart Parking Systems Revenue and Forecasts to 2025 (US$ Mn) 81
Figure 47: Rest of Europe Smart Parking Systems Revenue and Forecasts to 2025 (US$ Mn) 82
Figure 48: Europe Smart Parking Systems Market Breakdown by Parking Site, 2015 (%) 83
Figure 49: Europe Smart Parking Systems Market Breakdown by Parking Site, 2025 (%) 83
Figure 50: Europe Smart Parking Systems Market Breakdown by Component, 2015 (%) 85
Figure 51: Europe Smart Parking Systems Market Breakdown by Component, 2025 (%) 85
Figure 52: Europe Smart Parking Systems Market Breakdown by Method, 2015 (%) 87
Figure 53: Europe Smart Parking Systems Market Breakdown by Method, 2025 (%) 87
Figure 54: Asia Pacific Smart Parking Systems Market Sales Revenue (US$ Mn) and Forecasts to 2025 (US$ Mn) 90
Figure 55: Asia Pacific Smart Parking Systems Market Breakdown by Key Country, 2015 (%) 91
Figure 56: Asia Pacific Smart Parking Systems Market Breakdown by Key Country, 2025 (%) 91
Figure 57: Australia Smart Parking Systems Revenue and Forecasts to 2025 (US$ Mn) 92
Figure 58: China Smart Parking Systems Revenue and Forecasts to 2025 (US$ Mn) 93
Figure 59: India Smart Parking Systems Revenue and Forecasts to 2025 (US$ Mn) 94
Figure 60: Japan Smart Parking Systems Revenue and Forecasts to 2025 (US$ Mn) 95
Figure 61: The Rest of APAC Smart Parking Systems Revenue and Forecasts to 2025 (US$ Mn) 96
Figure 62: Asia Pacific Smart Parking Systems Market Breakdown by Parking Site, 2015 (%) 97
Figure 63: Asia Pacific Smart Parking Systems Market Breakdown by Parking Site, 2025 (%) 97
Figure 64: Asia Pacific Smart Parking Systems Market Breakdown by Component, 2015 (%) 98
Figure 65: Asia Pacific Smart Parking Systems Market Breakdown by Component, 2025 (%) 99
Figure 66: Asia Pacific Smart Parking Systems Market Breakdown by End-User Industry, 2015 (%) 101
Figure 67: Asia Pacific Smart Parking Systems Market Breakdown by End-User Industry, 2025 (%) 101
Figure 68: MEA Smart Parking Systems Market Sales Revenue and Forecasts to 2025 (US$ Mn) 103
Figure 69: Middle East & Africa Smart Parking Systems Market Breakdown by Key Country, 2015 (%) 104
Figure 70: Middle East & Africa Smart Parking Systems Market Breakdown by Key Country, 2025 (%) 104
Figure 71: South Africa Smart Parking Systems Revenue and Forecasts to 2025 (US$ Mn) 105
Figure 72: Saudi Arabia Smart Parking Systems Revenue and Forecasts to 2025 (US$ Mn) 106
Figure 73: UAE Smart Parking Systems Revenue and Forecasts to 2025 (US$ Mn) 107
Figure 74: Rest of MEA Smart Parking Systems Revenue and Forecasts to 2025 (US$ Mn) 108
Figure 75: Middle East & Africa Smart Parking Systems Market Breakdown by Parking Site, 2015 (%) 109
Figure 76: Middle East & Africa Smart Parking Systems Market Breakdown by Parking Site, 2025 (%) 109
Figure 77: Middle East & Africa Smart Parking Systems Market Breakdown by Component, 2015 (%) 111
Figure 78: Middle East & Africa Smart Parking Systems Market Breakdown by Component, 2025 (%) 111
Figure 79: Middle East & Africa Smart Parking Systems Market Breakdown by End-User Industry, 2015 (%) 113
Figure 80: Middle East & Africa Smart Parking Systems Market Breakdown by End-user Industry, 2025 (%) 113
Figure 81: South American Smart Parking Systems Market Sales Revenue and Forecasts to 2025 (US$ Mn) 115
Figure 82: South America Smart Parking Systems Market Breakdown by Key Country, 2015 (%) 116
Figure 83: South America Smart Parking Systems Market Breakdown by Key Country, 2025 (%) 116
Figure 84: Brazil Smart Parking Systems Revenue and Forecasts to 2025 (US$ Mn) 117
Figure 85: Rest of SAM Smart Parking Systems Revenue and Forecasts to 2025 (US$ Mn) 118
Figure 86: South America Smart Parking Systems Market Breakdown by Parking Site, 2015 (%) 119
Figure 87: South America Smart Parking Systems Market Breakdown by Parking Site, 2025 (%) 119
Figure 88: South America Smart Parking Systems Market Breakdown by Component, 2015 (%) 121
Figure 89: South America Smart Parking Systems Market Breakdown by Component, 2025 (%) 121
Figure 90: South America Smart Parking Systems Market Breakdown by End-User Industry, 2015 (%) 123
Figure 91: South America Smart Parking Systems Market Breakdown by End-User Industry, 2025 (%) 123
Figure 92: Cisco Systems, Inc. Annual Revenue (US$ Bn) 130
Figure 93: Cisco Systems, Inc. R&D Expenses (US$ Bn) 130
Figure 94: Smart Parking Ltd. Annual Revenue (US$ Mn) 135
Figure 95: Nedap NV, Annual Revenue (US$ Mn) 148
Figure 96: Nedap NV, R&D Expenses (US$ Mn) and Net Profit (US$ Mn) 148
Figure 97: Kapsch, Annual Revenue (US$ Mn) and Segment Revenue (US$ Mn) 153
Figure 98: Kapsch, R&D Expenses (US$ Mn) 153
Figure 99: Xerox Corp. Annual Revenue (US$ Mn) 159
Figure 100: Xerox Corp., Gross Profit (US$ Mn) and R&D Expenses (US$ Mn) 159
The List of Companies
- Amano McGann, Inc.
- Cisco Systems, Inc.
- Kapsch
- Nedap N.V
- Parkmobile, LLC
- Parkmobile, LLC
- Skidata AG
- Smart Parking Ltd.
- Swarco AG
- SWARCO AG
- Urbiotica
- Xerox Corp.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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