1. Increasing urbanization and population growth leading to higher demand for parking spaces.
2. Advancements in sensor and automation technologies driving the adoption of smart parking solutions.
3. Government initiatives to develop smart city infrastructure and reduce traffic congestion.
4. Rising investments in IoT and cloud-based technology for efficient parking management.
Industry
Report Coverage | Details |
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Segments Covered | Component, Technology, Type, Application, End-User |
Regions Covered | • North America (United States, Canada, Mexico) • Europe (Germany, United Kingdom, France, Italy, Spain, Rest of Europe) • Asia Pacific (China, Japan, South Korea, Singapore, India, Australia, Rest of APAC) • Latin America (Argentina, Brazil, Rest of South America) • Middle East & Africa (GCC, South Africa, Rest of MEA) |
Company Profiled | Urbiotica, Swarco AG, Smart Parking Limited, Robert Bosch, Klaus Multiparking Systems, IPS Group, Amano McGann, Continental AG, Dongyang Menics Co., IEM SA |
1. High initial investment and infrastructure costs for implementing smart parking systems.
2. Privacy and security concerns associated with the use of connected devices and data collection.
3. Limited availability of network infrastructure and integration issues in existing parking facilities.