Hybrid Smart Parking Platform Market

The global Hybrid Smart Parking Platform market was valued at 76.6 Million USD in 2021 and will grow with a CAGR of 16.82% from 2021 to 2027, based on newly published report.

The prime objective of Hybrid Smart Parking Platform Market is to provide the insights on the post COVID-19 impact wwhich will help market players in this field evaluate their business approaches. Also, Hybrid Smart Parking Platform Market covers market segmentation by major market verdors, types, applications/end users and geography(North America, East Asia, Europe, South Asia, Southeast Asia, Middle East, Africa, Oceania, South America).

Smart parking solutions are a need for today owing to the increasing number of vehicles and the lack of parking spaces. Many companies are investing into the smart parking management market. Streetline has been recognized by Frost & Sullivan with the global product line strategy leadership award for the year 2016. Streetline uses machine learning techniques to deploy hybrid smart parking platform in order to merge data that is collected for real time parking guidance and analytics. Streetline is considered to be a world leader in smart parking solutions and management.North America region holds the largest market share of global hybrid smart parking platform market followed by Europe and Asia Pacific regions. The growth is North America region is mainly dominated by U.S. and Canada and is attributed to the increasing number of vehicles on street and growing awareness about pollution measures in the region. The region also has a well-established infrastructure which allows implementation of advanced technologies and better connectivity for real time data streaming. Hybrid smart parking platform market has been segmented on the basis of component, parking type, solution and application. The parking type segment is further bifurcated into on street parking and off street parking. On street parking refers to parking of vehicles along the streets whereas off street parking refers to parking of vehicles in the garages and parking lots. This is owning to the growing demand for smart city solutions and increasing need for parking space management in order to avoid traffic congestion and maintain better air quality by reducing the traffic problems. Hybrid smart parking platform helps in optimizing parking resources with continuous streaming of data from streets. It offers real time analysis of data and accurate results on parking occupancy based on multiple data sources.

By Market Verdors:

• Streetline
• Libelium
• Tata Elxsi
• IPS Group
• Kapsch TrafficCom
• NuPark
• Siemens
• Robert Bosch
• Huawei Technologies
• Acer

By Types:

• Hardware
• Software
• Service

By Applications:

• Government
• Residential
• Commercial

Key Indicators Analysed

• Market Players & Competitor Analysis: The report covers the key players of the industry including Company Profile, Product Specifications, Production Capacity/Sales, Revenue, Price and Gross Margin 2016-2027 & Sales with a thorough analysis of the market?s competitive landscape and detailed information on vendors and comprehensive details of factors that will challenge the growth of major market vendors.
• Global and Regional Market Analysis: The report includes Global & Regional market status and outlook 2016-2027. Further the report provides break down details about each region & countries covered in the report. Identifying its sales, sales volume & revenue forecast. With detailed analysis by types and applications.
• Market Trends: Market key trends which include Increased Competition and Continuous Innovations.
• Opportunities and Drivers: Identifying the Growing Demands and New Technology
• Porters Five Force Analysis: The report provides with the state of competition in industry depending on five basic forces: threat of new entrants, bargaining power of suppliers, bargaining power of buyers, threat of substitute products or services, and existing industry rivalry.

Key Reasons to Purchase

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• Assess the production processes, major issues, and solutions to mitigate the development risk.
• To understand the most affecting driving and restraining forces in the market and its impact in the global market.
• Learn about the market strategies that are being adopted by leading respective organizations.
• To understand the future outlook and prospects for the market.
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