The smart parking market is projected to grow at a compound annual growth rate (CAGR) of 17.8% from 2023 to 2033. Although the market is estimated to be worth US$ 10.7 billion in 2023, it is expected to reach a market share of US$ 54.8 billion by 2033. A growing number of advanced guided park assist systems …
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Smart Parking Market: Explosive 17.8% CAGR Propels Growth to $54.8 Billion by 2033
During the forecast period, the smart parking market is anticipated to grow at a CAGR of 17.8%. The market is expected to reach a value of US$ 54.8 billion by 2033, up from its current share of US$ 10.7 billion in 2023. The research study on the smart parking market demonstrates how various application areas, …
Smart Parking Market : Worldwide Analysis & New Business Opportunities Explored By 2029
The global smart parking market is projected to exhibit a CAGR of 18% during the forecast period of 2022 to 2029. The rising trend of autonomous vehicles and the emergence of fully-automated parking systems (APS) are factors creating potential growth opportunities for the smart parking market. According to the report, factors such as lack of parking space, rise …
Smart Parking Market Set to Grow Nearly 6X by 2029, Driven by Growing Smart City Initiatives | Development Status, Competition Analysis
Global sales revenue of smart parking market stood at around US$ 7,670.9 Mn in 2021, and is slated to increase at a CAGR of 18.0% to reach a valuation of US$ 28,757.0 Mn by 2029. Smart parking market is nearly 70.0% of parking management system market. The rising trend of autonomous vehicles and the emergence …