Opportunities in the Global Parking Access Control Market to 2027: Size, Share, Outlook and Opportunity Analysis - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Parking Access Control Market - Size, Share, Outlook, and Opportunity Analysis, 2019 - 2027" report has been added to ResearchAndMarkets.com's offering.

Parking access control systems mainly use Magnetic or Barcode Ticket Technology, RFID (Radio-frequency identification) Technology, Bluetooth, Wi-Fi technologies to authorize access to vehicles. Barcodes in the parking system provide inexpensive and accurate tickets with reliable read rates. Barcodes can be recognized instantaneously and result in seamless and faster exit. The barcode system is integrated with an inventory management system to keep the records of plate numbers, time in and time out of the vehicles, and the number of available parking spaces. Barcode technology requires less hardware and maintenance cost, and this technology is used in many parking management systems. For instance, in November 2018, RAKINDA Technology Co., Ltd., a China-based company which is a leader in the development of smart card hardware and software systems, introduced the LV4500L Bar code Scanner that is specially designed for parking lot. The main feature of this system is that it reduces labor fee and improves work efficiency.

RFID readers, RFID labels, computers, barriers, and software are the main product types of RFID technology. This technology is used to monitor and control various reports and operations of the parking system. The main purpose of RFID technology for parking system is to reduce the workload and maintain record of the vehicles by enabling simpler solutions to the problems encountered in the parking lots. The rising number of smart city projects and urbanization increases the demand for RFID technology in the market. For instance, in 2015, the government of India allocated US$ 1,200 million for the development of smart cities in the country. As millions of vehicles are moving from one place to another across the world, it became important to manage parking in a more efficient manner. RFID technology can increase the performance of entry, tracking, and real-time management of permits, and overall security for parking technology.

This report segments the global parking access control market on the basis of product type, solution, technology, vertical, and region.

Key features of the study:

• It provides an in-depth analysis of the global parking access control market and provides market size (US$ Million) and compound annual growth rate (CAGR %) for the forecast period (2020-2027), considering 2019 as the base year
• It reviews potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
• It provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by leading players
• It profiles leading players in the global parking access control market based on the following parameters - regulatory landscape, company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
• Key companies covered in the global parking access control market are Access, Security & Parking Systems, Inc., ACTi Corporation, Amano Corporation, Cass Parking, Conduent Inc., DESIGNA, Electro Automation, FAAC SPA Soc, HUB Parking Technology, Nortech Access Control Ltd. SKIDATA, SWARCO, TIBA PARKING SYSTEMS, VersionX Innovations Pvt. Ltd, and ZKTECO CO., LTD
• These key market players are focusing on collaboration strategy with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers
• Insights from this report allow marketers and management authorities of companies to make informed decision regarding future product launches, technology up gradation, market expansion, and marketing tactics
• The global parking access control market report caters to various stakeholders in this industry including investors, suppliers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the global parking access control market

Key Topics Covered:

1. Research Objectives and Assumptions

2. Market Overview

3. Market Dynamics, Regulations, and Trends Analysis

4. Global Parking Access Control Market: Impact of COVID-19 on Market

5. Global Parking Access Control Market, By Product Type, 2017-2027 (US$ Million)

6. Global Parking Access Control Market, By Solutions, 2017-2027 (US$ Million)

7. Global Parking Access Control Market, By Technology, 2017-2027 (US$ Million)

8. Global Parking Access Control Market, By Region, 2017-2027 (US$ Million)

9. Competitive Landscape

• Access, Security & Parking Systems, Inc.
• ACTi Corporation
• Amano Corporation
• Cass Parking
• Conduent Inc.
• DESIGNA
• Electro Automation
• FAAC SPA Soc
• HUB Parking Technology
• Nortech Access Control Ltd.
• SKIDATA
• SWARCO
• TIBA PARKING SYSTEMS
• VersionX Innovations Pvt. Ltd
• ZKTECO CO., LTD

For more information about this report visit https://www.researchandmarkets.com/r/xa9h4a

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