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The growing number of vehicles on the road, smart cities, is expected to lead to improved traffic and parking management solutions in Germany.
ROCKVILLE, MARYLAND, UNITED STATES, March 7, 2022 /EINPresswire.com/ — According to a recently updated study by Fact.MR, the global smart parking solutions market is expected to exceed US$ 30 billion in value by the end of the forecast year, marking a staggering 21 percent value CAGR. Over the next decade, increased traffic congestion is likely to drive demand for smart parking solutions.
MARKET DYNAMICS
Market growth is expected to be aided by the increased acceptance of integrated automation solutions, as well as advancements in wireless and digital payment technologies. Machine-to-machine (M2M) connectivity, data analytics, improved sensors, smart parking meters, and mobile applications for slot bookings and online payments are among the technologies used to develop effective systems.
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Market Analysis and Insights Global Smart Parking Market
This smart parking market report details recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographies, and more.
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