Smart Parking Market Is Projected To Reach At An Exponential Revenue Of USD 5.7 Billion By The End Of 2024
“Smart Parking Market: Global Historical Growth (2012-2016) & Future Outlook (2017-2024) Demand Analysis & Opportunity Evaluation” The global smart parking market is segmented into component such as hardware and software. Among these segments, hardware smart parking segment is expected to grow at highest CAGR in overall smart parking market during the forecast period. Growing utilization of smart parking hardware in metro cities is driving the growth of the market. The market is witnessing the launch of new hardware smart parking components. Further, growing demand for advanced hardware such as enhanced sensors and cameras is believed to impetus the growth of the hardware smart parking components market. Global smart parking market is expected to flourish at a significant CAGR of 17.8% during the forecast period. Increasing vehicle on the roads and rising adoption of advanced traffic management system by traffic authorities are some of the key factors driving the growth o...