DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Smart Parking Market by System, Technology, Component, Parking Management by Solution and Vertical - Global Forecast to 2021" report to their offering.
The passenger car smart parking market is projected to grow at a CAGR of 17.94% from 2016 to 2021, to reach a market size of USD 5.25 Billion by 2021. The market is driven by factors such as limited parking space availability, growing number of accidents caused by vehicles reversing out of parking spaces and growing consumer demand for advanced vehicle and passenger safety systems in passenger cars.
With the U.S. government making rear view cameras mandatory in passenger cars from 2018 and the Indian government expected to implement the rule soon, the demand for camera sensors is expected to increase. Ultrasonic sensors in a guided park assist system perform the basic function of alerting the driver of obstacles around the vehicle. In smart parking, they also assist with identifying suitable parking spaces according to the type of vehicle.
Rising population, increasing disposable income, and rising urbanization have played a major role in the growth of the passenger vehicles production and sales in Asia-Oceania. In the coming years, limited parking space availability and tight parking lots will drive the demand for passenger cars equipped with smart parking assist system. The enforcement of stringent parking policies will drive the need for parking management solutions in Asia-Oceania. On street parking in this region, is still haphazard and does not account for severe fines as in Europe and North America.
- Aisin Seiki
- Amano Corporation
- Continental AG
- Cubic Corporation
- Delphi Automotive
- Kapsch TrafficCom AG
- Nedap Identification Systems
- Robert Bosch GmbH
- Siemens AG
- TKG Group
- Valeo S.A.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Automotive Park Assist System Market, By System Type & Region
7 Passenger Car Smart Parking Market, By Component
8 Passenger Car Smart Parking Market, By Sensor Technology
9 Parking Management Market, By Vertical
10 Parking Management Market, By Solution
11 Competitive Landscape
12 Company Profiles
For more information about this report visit http://www.researchandmarkets.com/research/whdtmx/smart_parking