Research and Markets: Global Smart Parking Market Report 2015-2019 – Increased Installation of Smart Parking Meters

DUBLIN–(BUSINESS WIRE)–Research and Markets (
has announced the addition of the “Global
Smart Parking Market 2015-2019”
report to their offering.

The global smart parking market to grow at a CAGR of 31.72% during

Smart Parking is a vehicle parking system that helps drivers find
parking space. It consists of sensors, apps, smart parking meters, and
mobile-phone automated payment systems that allow drivers to reserve
parking in advance and pay via his credit card or cash. Sensors and
smart parking meters track the occupancy of parking spaces and pass on
the information to the drivers through their smartphone app. These
sensors also provide parking guidance to drivers. Smart parking helps in
reducing traffic congestion, car emissions, and also in managing demand
and supply of parking.

Global Smart Parking Market 2015-2019 is based on an in-depth market
analysis, with inputs from industry experts. It also covers the market
landscape and its growth prospects in the coming years. The report
includes the key vendors operating in the market.

Increased use of data analytics to optimize parking is one of the key
trends being witnessed in this market. Data analytics software is
predominantly used these days to provide better parking facilities to

According to the report, one of the main drivers is the increased
installation of smart parking meters. In most parking lots in the US,
simple parking meters are being replaced with smart parking meters.
Smart meters are more reliable than the older meters. In the case of any
maintenance issues, smart meters wirelessly alert parking providers to
address the problem.

Further, the report states that one of the major challenges in this
market is the lowered accuracy of sensors. Sensors installed in parking
spaces are affected by electromagnetic interference from overhead
trolley lines that reduce the accuracy of vehicle detection sensing to
90%. The malfunctioning of these sensors also leads to inadequacy in
automatically issuing parking tickets.

Key Vendors

  • Amano McGann (Amano)
  • Deteq Solutions
  • IPS Group
  • Libelium Comunicaciones Distribuidas
  • SP Plus
  • TransCore

Other Vendors

  • 3M
  • Cisco Systems
  • Cubic Corporation
  • Fabr
  • Haystack
  • HCL
  • IBM
  • Kapsch
  • MSR-Traffic
  • ParkHelp
  • ParkMe
  • Parkmobile
  • Parkopedia
  • Q-Park
  • Serco
  • Siemens
  • Skidata
  • Smart Parking
  • Streetline
  • Swarco
  • T2 Systems
  • Urbiotica
  • Wilson Parking
  • Worldsensing
  • Xerox

For more information visit


Research and Markets
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Sector: Internet
of Things