The global smart parking systems market is expected to rise at a high CAGR of 20.2% from 2015 to 2022. At this pace, the market will a value of US$177.1 million by 2022 from US$59.7 million by the end of 2016.
Albany, NY -- (SBWIRE) -- 07/14/2017 -- The astounding amount of vehicles plying on roads around the globe calls for advanced systems for parking. Traffic and parking issues are on the rise and people are able to space for both. This is creating a huge level of discomfort and fuel wastage. Parking has therefore become a big concern for both developed and developing nations, thus smart parking systems is emerging as a solution to this serious problem. Considering this aspect, a new research report with a title "Smart Parking Systems Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2022" has been recently added to the huge online repository of Market Research Reports Search Engine (MRRSE). This report on smart parking systems market analyzes the current status as well as future prospects of the market across the globe.
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The global smart parking systems market is expected to rise at a high CAGR of 20.2% from 2015 to 2022. At this pace, the market will a value of US$177.1 million by 2022 from US$59.7 million by the end of 2016. The report studies the factors that drive and restrain the demand of the smart parking systems market. The report also identifies growth opportunities, ongoing market trends, and key strategies increasing the popularity of smart parking systems market.
It also includes a market estimates and forecasts for each segment in terms of revenue and volume. The global smart parking systems market is classified based on parking site types as off-street parking and on-street parking. The market is also divided on the basis of components which include software, sensor and network hardware, and services. This market report entails complete insight into various application areas of the smart parking systems market, which includes government and municipalities, airports, corporate and commercial institutions. Geographically, the report segments the global smart parking systems market into Asia Pacific, North America, Europe, the Middle East and Africa (MEA), and Latin America. These regions are analyzed in terms of revenue generation.
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The report also covers profiles of key players operating in the smart parking systems. Major business strategies adopted by these players, their market positioning, and major recent developments are also identified within the research report. Besides this, market positioning of key players in the smart parking systems market has also been provided. The major players in the smart parking systems market include ParkMe, Inc., Streetline, Inc., Cisco Systems, Inc., Urbiotica, Skidata AG, Swarco AG, Smart Parking Ltd, Nedap N.V., Amano McGann, Inc. and Parkmobile, LLC.
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