Industry Background:
The parking guidance systems are used to navigate and helps in finding parking spaces. It is majorly used in the urban landscape. This provides clear data and signage for the nearest car parking and other related information. It updates related to vacant spaces according to the reduction in traffic volumes, emissions, and also helps in reducing noise and sound pollutions. These parking solutions are deployed cloud-based o on local servers as per the requirements. This system deals with the rising pollution level. Automobile parking is one of the leading problems across various regions.This growth is primarily driven by Scarcity of Parking in Residential and Commercial Areas, Rising Concern on Seamless Traffic Flow and Reduction in Fuel Consumption, Rapid Adoption Rate of Cloud Computing and IoT Technologies in Automobile Sector and The Rising Growth of Mobile and Smartphones.
Globally, a noticeable market trend is evident Rise in Number of Vehicles and Smart City Project across the Globe
. Major Players, such as Robert Bosch (Germany), Nexpa System (Korea), SWARCO AG (Austria), Omnitec Group (United Arab Emirates), Garmin (United States), Parkhelp (Spain), Park Assist (United States), GreenParking (United Arab Emirates), XTEC (Canada) and Cityzen Parking & Services (Greece) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Market Drivers
- Scarcity of Parking in Residential and Commercial Areas
- Rising Concern on Seamless Traffic Flow and Reduction in Fuel Consumption
- Rapid Adoption Rate of Cloud Computing and IoT Technologies in Automobile Sector
- The Rising Growth of Mobile and Smartphones
Market Trend
- Rise in Number of Vehicles and Smart City Project across the Globe
- The Need for Parking Apps
- Rising Demand for Energy Efficient, Sustainable and Green Solutions for Parking System
Restraints
- The decrease in Adoption Rate in Few Region Such As Africa
- High Complexity in System Integration
Opportunities
Rising Demand from Emerging Market Such As China, India, Among Others, Optimum Utilization of Parking Spaces and Technological Advancements in Autonomous Cars
Challenges
Huge Implementation Cost and High Technological Changes Rate
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Parking Guidance System Study Sheds Light on
The Parking Guidance System Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Parking Guidance System industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Parking Guidance System industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.