This report provides Transforma Insights’ view on the Parking Space Monitoring market. This segment comprises of both public and private parking spaces.
Drivers spend an average of 20 minutes daily looking for a parking space, this is responsible for almost 30% of all traffic congestion in urban areas and causes 28 million tonnes of CO2 emissions every year. Smart parking solutions are being introduced to counter this situation and help drivers find a parking spot easily and without any delays. These solutions have been shown reduce CO2 emissions by more than 2% and traffic volume by 8% in Europe. Smart Parking devices use a host of short-range technologies, such as RFID, for scanning tags on the vehicles, Wi-Fi, NB-IoT, and other Cellular technologies to communicate the status of parking lots to drivers and operators in real-time.
The report provides a detailed definition of the sector, analysis of market development and profiles of the key vendors in the space. It also provides a summary of the current status of adoption and Transforma Insights’ ten-year forecasts for the market. The forecasts include analysis of the number of IoT connections by geography, the technologies used (including splits by 2G, 3G, 4G, 5G, LPWA, short range, satellite, and others), as well as the revenue split between module, value-added connectivity, and services. A full set of forecast data, including country-level forecasts, sector break-downs and public/private network splits, is available through the IoT Forecast tool.
