Smart Parking Market 2016 to Grow at a CAGR of 31.72% During the Period to 2020
Smart Parking is a vehicle parking system that helps drivers find parking space. It consists of sensors, apps, smart parking meters, and mobile-phone automated payment systems that allow drivers to reserve parking in advance and pay via his credit card or cash. Sensors and smart parking meters track the occupancy of parking spaces and pass on the information to the drivers through their smartphone app. These sensors also provide parking guidance to drivers. Smart parking helps in reducing traffic congestion,...
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