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Smart Parking Solutions Market Steady Growth to be witnessed by 2018 to 2028
This report provides prognosis and analysis of the smart parking solutions market. It offers historical data along with forecast data for 2028.

Fact.MR, 4/15/2019 - The purpose of this rich study presented by FactMR is to elaborate the various market projections impacting the global smart parking solutions market during the period until 2028. This assessment delivers high-end statistics concerning market size (US$ Mn), Y-o-Y growth and revenue share (US& Mn) linked to different geographies and segmentation types. Readers can acquire precise insights about growth trends along with opportunities that are expected to reshape the overall structure of the smart parking solutions market during the forecast period.

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The smart parking solutions market remains highly consolidated, with established and mid-sized companies accounting for 40-50% and 30-35% of the revenue share respectively. Large scale companies continue to invest heavily in research and development to fuel innovations, which gives them a competitive edge over other players in the market. Strategic mergers and acquisitions, coupled with collaboration with city authorities to provide for smarter mobility solutions, are among key expansion strategies of these market players.

Banking on the growing sales of valet parking management systems, Amano McGann acquired Computerized Valet Parking Systems in February 2018. With the acquisition, Amano plans to consolidate its position in the Parking Access and Revenue Control Systems (PARCS) segment of the smart parking solutions market.

To meet the rising demands for smart parking solutions and to promote further innovation in the field, Cubic Corporation expanded the space of its Trafficware Manufacturing facility in Sugarland, Texas to accommodate over 70 software engineers in the facility. The company is targeting to expand its market presence and is planning to increase its workforce in order to do so.

Consolidating its global footprint in the smart parking solutions market, Hub Parking Technology entered into a strategic alliance with Al Rayyan Car Parking Management, a local smart parking solutions operator in Qatar. Under the alliance, Al Rayyan will have exclusive rights of distributing Hub Parking Technology products in Qatar where the demand for smart parking solutions is high as the country is undergoing a transformation with a multitude of transportation projects underway.

SKIDATA was the latest beneficiary of the popular trend of installation of smart parking spaces in cities around the world with Berkeley, California choosing the company for the construction of a brand new smart garage in Downtown Berkeley. The smart garage will be equipped with power gate columns, parking guidance system, and EMV credit card processing technology among other advanced features.

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Apart from the aforementioned key players, the report on smart parking solutions market also features detailed profiling of other leading companies in the market, which include Scheidt & Bachmann GmbH, DESIGNA Verkehrsleittechnik GmbH, Cubic Corporation, ABM Industries Incorporated, TIBA Parking, WPS Parking System BV, Kudelski SA, and SWARCO AG.

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