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Crowdsourced Smart Parking Market - Size, Share, Outlook, and Opportunity Analysis, 2018-2026

Crowdsourced smart parking is a system that helps drivers to identify parking spots via smartphones or electronic street panels.<br>

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Crowdsourced Smart Parking Market - Size, Share, Outlook, and Opportunity Analysis, 2018-2026

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  1. Crowdsourced Smart Parking Market - Size, Share, Outlook, and Opportunity Analysis, 2018-2026 Crowdsourced Smart Parking Market study provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategies adopted by the leading players. Crowdsourced smart parking is a system that helps drivers to identify parking spots via smartphones or electronic street panels. This system provides data regarding unoccupied parking spaces available for parking, which is helpful for avoiding congestion on-street as well as off-street. This system can be installed in public places such as shopping malls, airports, hospitals, ofce buildings, and residential communities among others. The goal of the system is to automate and decrease time spent on manually searching for a parking spot. Browse Complete Report For More Information @ https://www.coherentmarketinsights.com/ongoing-insight/crowdsourced-smart- parking-market-1863 Growing concern for parking along with increasing adoption of vehicles are factors driving growth of the market Major factors driving growth of the crowdsourced smart parking market include increasing demand for vehicles, globally. For instance, according to International Organization of Motor Vehicle Manufacturers statistics (OICA), the total number of vehicles sold in 2016 was 94 million units, which increased to 96 million units in 2017, globally. Rising adoption of vehicles is resulting in high trafc congestion, which in turn, is increasing the demand for crowdsourced smart parking to ease trafc congestion, which further helps save the time, cost, and fuel. The

  2. adoption of crowdsourced smart parking systems helps users in determining the available parking spaces and reserving the spot in advance, reducing the time required to avail parking and reduces human error in parking. Global Crowd sourced Smart Parking Market: Segment Trends On the basis of applications, the commercial use segment accounted for the largest market share of the global crowdsourced smart parking market in 2017. This growth is attributed to the rising number of shopping malls, large commercial hubs, and sports entertainment hubs being constructed in the region. For instance, according to Coherent Market Insights’ analysis, in 2016, the number of shopping malls in Germany was 474, which increased to 482 in 2017. Public place require appropriate parking of a large number of vehicles to avoid congestion. In such situations, crowdsourced smart parking solutions provide directions and accuracy to the drivers for parking vehicles. This in turn, is expected to propel growth of the commercial use segment. Global Crowdsourced Smart Parking Market: Regional Insights The market for crowdsourced smart parking in North America accounted for largest share in the global market in 2017. The U.S. and Canada are the major growth engine in the market in North America, owing to the increasing sales of vehicles in these countries. For instance, according to the OICA (International Organization of Motor Vehicle Manufacturers), the total vehicle sales of passenger cars in the U.S. was 7.5 million in 2013, which increased to 7.6 million in 2014. Similarly, in Canada, the total sales of passenger cars was 755 thousand units in 2013, which increased to 760 thousand units in 2014. The increasing adoption of vehicles in turn, is expected to increase the demand for high-end automation solutions and software for managing parking payments and guidance. Global Crowdsourced Smart Parking Market: Competitive Landscape Major players operating in the global crowdsourced smart parking market include 3M, Amano Corporation, Cubic Corporation, Thales Group, Kapsch TrafcCom AG, Nortech Control Systems Limited, Siemens Swarco AG, Fujica, Imtech, and Xerox Corporation. Global Crowdsourced Smart Parking Market: Taxonomy By Product Type •On-street Vehicles •Off-street Vehicles By Applications •Commercial Use •Government Use •Residential Use

  3. Inquire Here Before Purchase of Research Report @ https://www.coherentmarketinsights.com/insight/talk-to-analyst/1863 About Coherent Market Insights: Coherent Market Insights is a prominent market research and consulting frm offering action- ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity. Contact Us: Mr. Shah Coherent Market Insights 1001 4th Ave, #3200 Seattle, WA 98154 Tel: +1-206-701-6702 Email: sales@coherentmarketinsights.com

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