LONDON–(BUSINESS WIRE)–Technavio has been monitoring the intelligent parking systems market and it is poised to grow by USD 5.2 billion during 2020-2024, progressing at a CAGR of over 22{d93457022679712214ff8a8035fa266341f9634f2c93d5e609b1bbb089e8c446} during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.

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Frequently Asked Questions-

  • Based on segmentation by type, which is the leading segment in the market?
  • The off-street parking is expected to be the leading segment in the global market during the forecast period.
  • What are the major trends in the market?
  • Rising sales of passenger vehicles such as sedans and hatchbacks is one of the major trends in the market.
  • At what rate is the market projected to grow?
  • Growing at a CAGR of over 22{d93457022679712214ff8a8035fa266341f9634f2c93d5e609b1bbb089e8c446}, the incremental growth of the market is anticipated to be USD 5.2 billion.
  • Who are the top players in the market?
  • 3M Co., Conduent Inc., Flowbird SAS, International Business Machines Corp., IPS Group Inc., Kapsch TrafficCom AG, Libelium Comunicaciones Distribuidas SL, Nedap NV, Siemens AG, and SKIDATA AG are some of the major market participants.
  • What are the key market drivers?
  • Increasing use of Telematics for car parking is one of the major factors driving the market.

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. 3M Co., Conduent Inc., Flowbird SAS, International Business Machines Corp., IPS Group Inc., Kapsch TrafficCom AG, Libelium Comunicaciones Distribuidas SL, Nedap NV, Siemens AG, and SKIDATA AG are some of the major market participants. The increasing use of telematics for car parking will offer immense growth opportunities. To make most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

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Intelligent Parking Systems Market 2020-2024: Segmentation

Intelligent Parking Systems Market is segmented as below:

  • Type

    • On-street Parking
    • Off-street Parking
  • Geography

    • North America
    • Europe
    • APAC
    • South America
    • MEA

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Intelligent Parking Systems Market 2020-2024: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The intelligent parking systems market report covers the following areas:

  • Intelligent Parking Systems Market Size
  • Intelligent Parking Systems Market Trends
  • Intelligent Parking Systems Market Analysis

This study identifies rising sales of passenger vehicles such as sedans and hatchbacks as one of the prime reasons driving the intelligent parking systems market growth during the next few years.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.

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Intelligent Parking Systems Market 2020-2024: Key Highlights

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will assist intelligent parking systems market growth during the next five years
  • Estimation of the intelligent parking systems market size and its contribution to the parent market
  • Predictions on upcoming trends and changes in consumer behavior
  • The growth of the intelligent parking systems market
  • Analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of intelligent parking systems market vendors

Table of Contents:

Executive Summary

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2019
  • Market outlook: Forecast for 2019 – 2024

Five Forces Analysis

  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by Type

  • Market segments
  • Comparison by Type
  • Off-street parking – Market size and forecast 2019-2024
  • On-street parking – Market size and forecast 2019-2024
  • Market opportunity by Type

Customer landscape

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • North America – Market size and forecast 2019-2024
  • Europe – Market size and forecast 2019-2024
  • APAC – Market size and forecast 2019-2024
  • South America – Market size and forecast 2019-2024
  • MEA – Market size and forecast 2019-2024
  • Key leading countries
  • Market opportunity by geography

Drivers, Challenges, and Trends

  • Market drivers
  • Volume driver – Demand led growth
  • Volume driver – Supply led growth
  • Volume driver – External factors
  • Volume driver – Demand shift in adjacent markets
  • Price driver – Inflation
  • Price driver – Shift from lower to higher priced units
  • Market challenges
  • Market trends

Vendor Landscape

  • Overview
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • 3M Co.
  • Conduent Inc.
  • Flowbird SAS
  • International Business Machines Corp.
  • IPS Group Inc.
  • Kapsch TrafficCom AG
  • Libelium Comunicaciones Distribuidas SL
  • Nedap NV
  • Siemens AG
  • SKIDATA AG

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

     

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