Smart Parking Platforms

The Smart Parking Platforms Research Study delivers current market analysis plus a five year market and technology forecast. 

Urban Challenges Demand Smart Parking Platforms

This ARC Advisory Group research report provides a concise analysis of the market for smart parking platforms.  It includes quantitative information on market size and growth across various regions and product categories.  It also includes qualitative discussions of market drivers/inhibitors as well as key strategy points suppliers should be aware of.  

Smart parking platforms start with the sensors that detect space occupancy.  There are two classes of sensor used: ones installed in ground at every space and ones mounted on a pole or building.  These also vary by sensor technology used, which can be magnetic, infrared, and even piezoelectric for ground units, and electromagnetic sensing for mounted units from across the spectrum.

In addition to the sensors, these systems require networking hardware to transfer the parking data, as well as consulting installation, and software and analytics solutions to create value from the new data stream.

Smart Parking Management Solutions Are the Answer to Increasing Parking Challenges

As with other smart city technologies, adoption of smart parking platforms is being driven by availability of lower cost and more reliable sensors, networking, data storage, computing, and analytics.  Governments, citizens, visitors, and businesses alike are growing frustrated with city congestion and aware of the risks posed by climate change and air pollution.  Circling city blocks searching for an open parking space is a major cause of congestion and adds appreciably to a city’s emissions level, both of air pollutants and greenhouse gases.  Finding a space is near impossible in some places yet other spaces remain vacant or underutilized.  Payment is often clumsy.  The difficulty that parking adds sours perception of the city in the eyes of citizens and visitors.  From a business perspective, customers are less likely to shop in areas with notorious parking situations. To address these challenges and improve their parking outcomes, cities, companies, universities, airports, retailers, and others are turning to smart parking solutions

Smart Parking Software Market Trends and Strategic Issues

Demand for smart parking solutions has been growing with the challenges of modern urbanization.  The market is still in nascent form, but its future looks promising.  Various forces push and pull this exciting space, from advancements in technology and cost improvements, to cities competing with one another to attract talent, jobs, and an expanded tax base.

Beyond market size estimates, this ARC Advisory Group report addresses strategic questions such as:

• Where is the market heading, and how can suppliers of smart parking platforms best position themselves in it?
• What factors are driving and inhibiting growth?
• How will growth vary between the different regions of the world?

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