Daily Technology News

Technology News and Press Release Distribution Services

About US | Contact Us

Home | Technology News | Submit Press Release | Submit RSS Feed
Unlimited Press Release Distribution
Press release distribution service

IT News Media

ComputerWeekly
CIO News
PC World
MacWorld
InfoWorld
Tech Republic
Wall Street Journal Digital
ZDNet
Submit press release to these Tech media distribution list.

Technology News Releases

Smart Parking Market 2017-2021 | Market Insights, Industry Analysis, Size, & Share

(IT-NEWSWIRE.COM, July 11, 2019 ) Global Smart Parking Market by System (Guided & Smart Park), Technology (Ultrasonic, Radar, Image), Component, Parking Management by Solution (Security & Surveillance, Valet & Parking Reservation, License Plate Recognition), and Vertical - Global Forecast to 2021. The passenger car smart parking market is projected to grow at a CAGR of 17.94% during the forecast period, to reach a market size of USD 5.25 Billion by 2021 from USD 2.13 Billion in 2015.



Key Market Players:



The smart parking market is dominated by a few global players, and comprises several regional players. Some of the key smart park assist manufactures operating in the market are Valeo S.A. (France), Delphi Automotive PLC (U.K.), Continental AG (Germany) and Robert Bosch GmbH (Germany). Some of the key players in the parking management solutions providing company are Siemens AG (Germany), Xerox Corporation (U.S.), Cubic Corporation (U.S.), Amano Corporation (Japan), and Kapsch TrafficCom AG (Austria).



Download our free PDF Brochure and gain crucial industry insights that will help your business grow:



https://www.marketsandmarkets.com/Market-Reports/smart-parking-market-123959229.html



Smart parking would be the fastest growing segment in the passenger cars park assist market



The smart parking market is projected to grow at the highest CAGR during the forecast period. The growth of this market is driven by factors such as increasing innovation and automation in vehicles, increasing consumer’s preference for driver assistance features in passenger cars, growing concern over parking damages and accidents caused by human error while parking and environmental concerns and stringent emission regulation. In order to reduce accidents caused during parking and while backing out of a parking space, traffic congestion and pollution, governments are promoting safe and smart vehicles. This in turn supports the growth of smart parking assist systems employed in passenger cars.



Ultrasonic sensor to be the largest sensor technology used in passenger cars smart parking market



Ultrasonic sensors are expected to dominate the smart parking market for passenger cars. The key application of ultrasonic sensors in smart parking is to assist the driver by identifying an appropriate parking space and provide short range detection of obstacles in the parking range. The ultrasonic sensors are preferred owing to their lower cost as compared with image and radar sensors. The average number of ultrasonic sensors employed in a smart park assist equipped passenger car are around 4-10 units according to MarketsandMarkets analysis. Many automotive component manufactures such as Continental AG (Germany) and Robert Bosch GmbH (Germany) manufacture ultrasonic sensors catering to various driver assistance functions in a passenger car.



Request for Free Customization:



https://www.marketsandmarkets.com/requestsampleNew.asp?id=123959229



Europe to be the largest market and Asia-Oceania to be the fastest growing market for smart parking in passenger cars



Europe is estimated to dominate the smart parking market in passenger cars, owing to the increased use of cameras and ultrasonic sensors in passenger cars. Cameras improve visibility of the surrounding of the car and ultrasonic sensors alert the driver of obstacles around the car. Additionally, the market is also driven by an increased demand for driver assistance and safety solutions features in passenger cars. Asia-Oceania is projected to grow at the highest CAGR during the forecast period. Parking in congested parking spaces is fast becoming a key concern for drivers in this region. Individual parking lots have become smaller, in order to accommodate more number of vehicles, in a limited parking space. This has led to increased parking related stress in drivers. Vehicles equipped with smart parking systems reduce the stress of parking by assisting a driver in parking into tiny parking spaces. Asia-Oceania will emerge as a large market for smart parking equipped passenger cars in the coming years with China and Japan as frontrunners.



MarketsandMarkets™

Mr. Shelly Singh

1-888-600-6441

sales@marketsandmarkets.com

Source: EmailWire.Com



Technology News By Sector
  • Application Development
  • Big Data
  • Desktops
  • Cloud Computing
  • Data Centers
  • Mobile Computing
  • OS
  • Open Source
  • Security
  • Virtualization
  • 
    
    

     Sign-Up To Our Free Newsletter!  
    IT-NewsWire Newsletter
     


    
    
    
    
    Technology Marketplace

    Free Information Technology Magazines, Downloads
    Get free tech publications including magazines and white papers
    Amazon, Inc News Headlines
    Read breaking news about Amazon.com as reported by TV news anchors and summaries news articles from New York Times

    Free Computer Security Magazines
    Download or subscribe to latest IT Security publications -- free of charge.

    Microsoft News
    Microsoft financial and at Work: read news about MSFT hardware, software and services.
    Submit RSS News Feed.
    Have your feed on news, products or services displayed under this marketpalce. The feed is also displayed on a full page and updated daily. Add RSS feed Now!



    Press release distribution services: Submit press release to major media. Unlimited press release service

    For unlimited press release distribution for $99 per month, call (281) 645-4086 or start posting your press releases online at EmailWire.com.

    IT-Newswire.com is part of GropWeb Network, online properties of GroupWeb Media LLC. Copyright © 2013 GroupWeb Media LLC. All Rights Reserved.


    GroupWeb Media Network
    AfricaNewswire.Net | AppleNews247.Com | AsiaNewsWire.Net | Aviation-NewsWire | Energy Industry | EstateNewsWire | Entertainment-NewsWire.com | Food Beverage News | Glamour NewsWire | Health NewsWire | Hosting NewsWire | i-Auto NewsWire | i-Business News | EuropeNewsWire.Net | iCameroon.com | i-Canada-News.Com | i-SoftwareNews.com | iT-NewsWire.Com
    | InvestorsNewsDesk.Com | i-TravelNewsWire.Com | LegalLaw247.com | Medical-NewsWire.com | MiningNewsWire.net | MoneyNewsWire.Net | Movie-Stars-News.Com | PayDayNews247.Com | PharmaNewsWire.Com | Publishing-NewsWire.Com | Shopping-NewsWire.com | Telecom-NewsWire.Net | Transportation-News.Com | USGovernment-News.Com | WebPosters.Net | Wireless-NewsWire.Com |
    IT-NewsWire.Com - Newswire and Press Release service of GroupWeb Media LLC