Smart Parking Systems Market was valued at US$ 398.6 million in 2016 and is projected to reach US$ 1,462.3 million by 2025
Smart Parking Systems Market to 2025 - Global Analysis and Forecasts by Parking Site, Method and End-user Industry.
Michel Law
The Smart Parking Systems Market was valued at US$ 398.6 million in 2016 and is projected to reach US$ 1,462.3 million by 2025; it is expected to grow at a CAGR of 15.7% during 2017–2025.
Parking has been a challenging issue, especially in the urban landscape, where 30% – 40% of all traffic congestion is mainly caused by drivers struggling to find a parking space. Increasing number of vehicles running on road, surging sizes of vehicles in the luxurious segment, and decrease in the available parking space are influencing the traffic congestion, making it an alarming issue globally.
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Smart Parking Systems Market to 2025 - Global Analysis and Forecasts by Parking Site, Method and End-user Industry.
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Michel Law
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