Global Smart Parking Industry

Global Smart Parking Industry

  • July 2020 •
  • 140 pages •
  • Report ID: 5799314 •
  • Format: PDF


Global Smart Parking Market to Reach US$12.5 Billion by the Year 2027
Amid the COVID-19 crisis, the global market for Smart Parking estimated at US$4 Billion in the year 2020, is projected to reach a revised size of US$12.5 Billion by 2027, growing at a CAGR of 17.5% over the period 2020-2027.Guided Park Assist, one of the segments analyzed in the report, is projected to grow at a 16.5% CAGR to reach US$7.8 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Smart Park segment is readjusted to a revised 19.3% CAGR for the next 7-year period. This segment currently accounts for a 33.9% share of the global Smart Parking market.

The U.S. Accounts for Over 29.6% of Global Market Size in 2020, While China is Forecast to Grow at a 16.9% CAGR for the Period of 2020-2027
The Smart Parking market in the U.S. is estimated at US$1.2 Billion in the year 2020. The country currently accounts for a 29.6% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$2.2 Billion in the year 2027 trailing a CAGR of 16.9% through 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 15.5% and 15.2% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 12.9% CAGR while Rest of European market (as defined in the study) will reach US$2.2 Billion by the year 2027.We bring years of research experience to this 8th edition of our report. The 140-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.

- Competitors identified in this market include, among others,
  • Aisin Seiki Co., Ltd.
  • Amano Corporation
  • Continental AG
  • Cubic Corporation
  • Delphi Automotive PLC
  • Kapsch TrafficCom AG
  • Nedap Identification Systems
  • Robert Bosch GmbH
  • Siemens AG
  • Tkh Group-Park Assist
  • Valeo SA
  • Xerox Corporation