Market analysts Technavio have predicted that the global smart parking systems market will grow at a Compound Annual Growth Rate of approximately 22% through 2022. The main driving factor behind the growth is the Information Technology Services market that is growing rapidly. Numerous countries are currently adapting to the use of Smart Parking systems in order to reduce pollution, congestion and to prevent accidents.
Currently, cities like Rotterdam are actively contributing to the growth of the Smart Parking Market. If you want to learn more about the popular Smart Parking Pilot in Rotterdam Blijdorp, make sure to check out this page, which informs you about Parkeagle’s project in the city.
What are the fastest growing Smart Parking Systems?
A sensor-based smart navigation is one of the solutions when it comes to Smart Parking Systems. The system enables drivers to see which parking bays are occupied and which ones are free by providing real-time data to users of the Parkeagle app. When using the Parkeagle app, users are able to park faster and thus they are spared the stressful process of looking for a parking spot.
The market research of Technavio is applicable in the regions of the Americas, APAC and EMEA, with the Americas having the biggest market share of approximately 45%.