Global Crowdsourced smart parking Market 2021
Crowdsourced smart parking is a system that helps drivers identify parking areas with smartphones or electric road panels. This program provides information on non-functional parking spaces available, which helps to avoid traffic congestion and off-road. The program can be installed in public places such as shopping malls, airports, hospitals, office buildings, and residential communities among others. The goal of the system is to automatically create and reduce the time spent manually searching the parking space.
The Global Crowdsourced Smart Parking market, which is invested at USD 289.1 million by 2020, is expected to grow at an annual growth rate of 8.5% in 2021-2026, after which it has reached an estimated 400.8 million by the end of the forecast period.
Major factors contributing to the growth of a smart, populated parking market are the growing demand for cars, worldwide. For example, according to figures from the International Organization for Motor Vehicle Manufacturers (OICA), the total number of vehicles sold in 2016 was 94 million units, rising to 96 million units in 2017, worldwide. The increase in car acceptance creates more congestion, which in turn increases the demand for smarter, more crowded parking spaces to reduce traffic congestion, which in turn saves time, costs, and fuel. The adoption of smart, crowded parking systems helps users find available parking spaces and reserves space in advance, reduces the time required to find parking and reduces personal error in parking.
Major players working in the global Global Crowdsourced smart parking Market Include :Cubic Corporation, Thales Group, Kapsch TrafficCom AG, Nortech Control Systems Limited, Siemens Swarco AG, Fujica, Imtech, and Xerox Corporation.
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Smart Global Parking Market:
By Product Type
Cars on the road
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Key Points for Geographical Analysis:
Details and data related to usage level in each region
Moderate increase in consumption rate
Expected growth rate of regional markets
Forward growth of market share in each region
Geographical contribution to market capitalization
The report answers questions such as:
1. What is the market size and forecast of the Global Global Crowdsourced smart parking Market?
2. What factors hinder the impact of COVID-19 in shaping the Global Global Crowdsourced smart parking Market during the forecast period?
3. What products / components / applications / areas should you invest in the forecast period in the Global Global Crowdsourced smart parking Market?
4. What is the competitive window for opportunities in the Global Global Crowdsourced smart parking Market?
5. What are the technical and regulatory trends in the Global Global Crowdsourced smart parking Market?
6. What is the market share of the leading retailers in the Global Global Crowdsourced smart parking Market?
7. What methods and strategies are considered appropriate to enter the Global Global Crowdsourced smart parking Market?
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