By applying advanced analytics the study highlights the key market drivers, restraints and opportunities that are influencing the growth rate worldwide.
The system that is developed to help individuals book car (vehicle) parking space online is termed as parking reservation system. The system is known to instantly enhance the website by helping customers reserve car parking spaces, access additional services and even pay online.
There are numerous drivers, restraints and opportunities shaping the future of parking reservation system. The growing demand for real time car parking data, new smart city projects and rising number of cars are few of the many factors contributing to the growth of the market.
Besides this, the several new smart city projects in the pipeline would create greater opportunities for the parking reservation management in years to come. Moreover, North America market is likely to project greater opportunities for the car parking management systems as well as solutions.
Installation of these systems is still a costly affair for many small enterprises and acts as a major obstacle.
The parking reservation system market is segmented by devices, services, geography, software, industry and solutions. In terms of devices the market is segmented into parking management meters, ticket writers, occupancy sensors and more.
Business verticals served by the market includes hospitals, healthcare, recreations, and others. Key services of the market include deployment model and maintenance.
Market is also segmented in terms of solutions such as valet parking management system, surveillance and security, access control and others. Regions including North America, Europe, Asia-Pacific.
would generate huge revenues.
Brands are now partnering with technology companies such as SAP, Oracle.to provide planners a 360 degree view of the information including traffic controls, street lightings and more. Companies are seen appointing new managers to streamline their strategic business developments, operations and others.
Acquisition and mergers, collaboration & research and development measures have kept the future of the market bright. Prominent market players consist of TCS International Inc, Complus Data Innovations, Inc., Energy Development Corporation, Group Techna, Inc., Siemens AG, Passport Parking, 3M Company, Amano Corporation, LLC, Affiliated Computer Services, HCL Technologies Ltd., and others.
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