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Smart Parking Market to Reach High CAGR by 2021, According to Recent Study

Smart Parking Market by System (Guided & Smart Park), Technology (Ultrasonic, Radar, Image), Component, Parking Management by Solution (Security & Surveillance, Valet & Parking Reservation, License Plate Recognition), and Vertical - Global Forecast to 2021<br>

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Smart Parking Market to Reach High CAGR by 2021, According to Recent Study

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  1. Smart Parking Market Expected to reach US $ 5.25 Billion by 2021

  2. The smart parking market is projected to grow at a CAGR of 17.94% during the forecast period, to reach a market size of USD 5.25 billion by 2021 from USD 2.13 billion in 2015. The market for park assist system is driven by factors such as increased consumer preference towards comfort and luxury, and increased competition between oems to offer such driver assistance features. Additionally, government policies supporting smart parking systems is also a major demand driver for passenger car smart parking market. https://www.marketsandmarkets.com/Market-Reports/smart-parking-market-123959229.html Sample Copy

  3. Smart parking market is defined as a consolidation of several information and communication technology systems which includes numerous electronic devices such as LCD displays, sensors (image, ultrasonic, radar), electronic control unit, and others. It also includes software platforms such as smartphone applications and vehicle on board navigation software systems which interacts with hardware platforms such as vehicle on board sensors and electronic devices, to integrate a system that helps drivers in finding a vacant spot for parking a vehicle and also guides the infrastructure outside the vehicles with parking solutions.

  4. Automotive smart park assist system manufacturers & component suppliers • Parking management solution providers • Parking management hardware and services providers • Automotive oems, industry associations, and other driver assistance manufacturers • The automobile industry and related end-user industries Target audience for Smart Parking Market https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=123959229 Download PDF Brochure

  5. Smart Parking Market By System Type: • Guided Park Assist • Smart parking • Smart Parking Market By Component: • Parking Sensors • Steering Angle Sensors • Electronic Control Unit (ECU) • Display Unit Scope of the Smart Parking Market

  6. A key factor restraining the growth of smart parking components is the high cost of implementing the smart parking system in a passenger car. Adequate smart parking infrastructure is also crucial to the growth of smart parking market. Key players in the market include Valeo S.A. (France), Continental AG (Germany), Robert Bosch GmbH (Germany), KapschTrafficCom AG (Austria), Cubic Corporation (U.S.), TKH Group-Park Assist (Netherlands). These players are increasingly undertaking mergers and acquisitions, and product launches to develop and introduce new technologies and products in the market. Key players of Smart Parking Market

  7. Browse 78 market data tables and 58 figures spread through 164 pages and in-depth TOC on “smart parking market by system (guided & smart park), technology (ultrasonic, radar, image), component, parking management by solution (security & surveillance, valet & parking reservation, license plate recognition), and vertical - global forecast to 2021”This study answers several questions for the stakeholders, primarily which market segments to focus on in the next two to five years to prioritize efforts and investments. Early buyers will receive 10% customization on reports. Get 10 % Free Customization

  8. MarketsandMarkets is the world’s no. 2 firm in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and smes at MarketsandMarkets are tracking global high growth markets following the "growth engagement model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.

  9. Contact:Mr. Shelly SinghMarketsandMarkets™ INC.630 Dundee RoadSuite 430Northbrook, IL 60062USA : 1-888-600-6441sales@marketsandmarkets.com

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