Technavio has been monitoring the smart parking market and it is poised to grow by USD 5.22 billion during 2020-2024, progressing at a CAGR of almost 22% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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Technavio has announced its latest market research report titled Global smart parking market 2020-2024 (Graphic: Business Wire)
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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. 3M Co., Conduent Inc., Flowbird SAS, International Business Machines Corp., IPS Group Inc., Kapsch Aktiengesellschaft, Libelium Comunicaciones Distribuidas SL, Nedap NV, Siemens AG, and SKIDATA AG are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The increasing use of telematics has been instrumental in driving the growth of the market. However, high deployment costs might hamper market growth.
Smart Parking Market 2020-2024: Segmentation
Smart Parking Market is segmented as below:
-
Type
- Off-street Parking
- On-street Parking
-
Geographic Landscape
- North America
- Europe
- APAC
- South America
- MEA
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Smart Parking Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our smart parking market report covers the following areas:
- smart parking market size
- smart parking market trends
- smart parking market industry analysis
This study identifies the growing adoption of ITS as one of the prime reasons driving the smart parking market growth during the next few years.
Smart Parking Market 2020-2024: Vendor Analysis
We provide a detailed analysis of around 25 vendors operating in the smart parking market, including some of the vendors such as 3M Co., Conduent Inc., Flowbird SAS, International Business Machines Corp., IPS Group Inc., Kapsch Aktiengesellschaft, Libelium Comunicaciones Distribuidas SL, Nedap NV, Siemens AG, and SKIDATA AG. Backed with competitive intelligence and benchmarking, our research reports on the smart parking market are designed to provide entry support, customer profile and M&As as well as go-to-market strategy support.
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Smart Parking Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist smart parking market growth during the next five years
- Estimation of the smart parking market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the smart parking market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of smart parking market vendors
Table Of Contents:
Executive Summary
- Market Overview
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 – 2024
Five Forces Analysis
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Type
- Market segments
- Comparison by Type placement
- Off-street parking – Market size and forecast 2019-2024
- On-street parking – Market size and forecast 2019-2024
- Market opportunity by Type
Customer Landscape
- Overview
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- North America – Market size and forecast 2019-2024
- Europe – Market size and forecast 2019-2024
- APAC – Market size and forecast 2019-2024
- South America – Market size and forecast 2019-2024
- MEA – Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
Drivers, Challenges, and Trends
- Market drivers
- Volume driver – Demand led growth
- Volume driver – Supply led growth
- Volume driver – External factors
- Volume driver – Demand shift in adjacent markets
- Price driver – Inflation
- Price driver – Shift from lower to higher-priced units
- Market challenges
- Market trends
Vendor Landscape
- Overview
- Vendor landscape
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- 3M Co.
- Conduent Inc.
- Flowbird SAS
- International Business Machines Corp.
- IPS Group Inc.
- Kapsch Aktiengesellschaft
- Libelium Comunicaciones Distribuidas SL
- Nedap NV
- Siemens AG
- SKIDATA AG
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
View source version on businesswire.com: https://www.businesswire.com/news/home/20200728005647/en/