Technology Landscape, Trends and Opportunities in the Global Smart Parking Market

   January 24, 2020
The technologies in smart parking have undergone significant change in recent years, from short parking space to larger parking space. The rising wave of new technologies such as remote parking technology, global positioning system (GPS), and machine vision are creating significant potential for smart parking due to reduction in stress while searching for a parking space, takes away the unpredictability of finding a parking spot, and will reduce search traffic on streets.

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In smart parking market, various technologies are used which include IoT (Internet of Things), ultrasonic, and RFID (radio frequency identification). Rapidly increasing traffic congestion leading to limited space for smooth flow of traffic, and increasing problems related to land utilization and proper parking management are the key issue of overcrowded cities are creating opportunities for various smart parking technologies.

Lucintel, a leading global Management Consulting and market research firm with over 1,000 clients worldwide, has analyzed the technologies used in smart parking market, and it has now published a comprehensive research report titled “Technology Landscape, Trends and Opportunities in the Global Smart Parking Market 2019-2024”. This report analyzes technology maturity, degree of disruption, competitive intensity, market potential and other parameters of various technologies in smart parking market.

Lucintel study finds that smart parking market is forecast to grow at a CAGR of 17% from 2019 to 2024. Ultrasonic sensor technology is the largest segment of this market and is growing at above average growth. Amano Mcgann, Urbiotica, Smart Parking, IEM SA, IPS Group, Klaus Multiparking Systems, Swarco, Parklayer, Omnitec group, Dongyang Menics, Skidata, and Mindteck, Valeo, Delphi Automotive, Continental, and Robert Bosch are among the major players in the smart parking market.

The Lucintel report serves as a catalyst for growth as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes technology readiness, competitive intensity, regulatory compliance, disruption potential, trends, forecasts and strategic implications for the global smart parking technology by application, technology, and region as follows:

Technology Readiness by Technology Type

Competitive Intensity and Regulatory Compliance

Disruption Potential by Technology Type

Trends and Forecasts by Technology Type [$M shipment analysis from 2013 to 2024]:

  • IoT (Internet of Things)

  • Ultrasonic

  • RFID (Radio Frequency Identification)

Technology Trends and Forecasts by Application [$M shipment analysis from 2013 to 2024]:

  • Passenger Cars

    • IoT (Internet of Things)

    • Ultrasonic

    • RFID (Radio Frequency Identification)

  • Light Commercial Vehicles

    • IoT (Internet of Things)

    • Ultrasonic

    • RFID (Radio Frequency Identification)

  • Heavy Commercial Vehicles

    • IoT (Internet of Things)

    • Ultrasonic

    • RFID (Radio Frequency Identification)

Technology Trends and Forecasts by Region [$M shipment analysis for 2013 to 2024]:

  • North America

  • United States

  • Canada

  • Mexico

  • Europe

  • United Kingdom

  • Germany

  • France

  • Asia Pacific

  • Japan

  • China

  • South Korea

  • India

  • The Rest of the World


Latest Developments and Innovations in the Smart Parking Technologies

Companies / Ecosystems

Strategic Opportunities by Technology Type


This more than 150-pages research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link or

About Lucintel

Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit


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