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Smart Parking Market in Western Europe: Increasing Requirement to Address Parking-related Problems to Drive Growth

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Published on : Aug 26, 2016

ALBANY, New York, August 26, 2016: ResearchMoz.us has added a new report, titled “Smart Parking Market in Western Europe 2016-2020,” to its offering. To make this report, both primary and secondary research has been employed. A comprehensive understanding of smart parking systems in Europe has been presented through this study. It also presents an elaboration on the steps taken by governments in Europe to increase the adoption of smart parking systems in this region. The prime focus areas of vendors operating in the Western Europe smart parking market have also been presented. 

The first part of this report presents the market landscape and also analyzes the market on the basis of Porter’s five forces analysis. In addition, the key vendor offerings in the smart parking market in Europe have been encapsulated in this section of the study. Furthermore, the report elaborates on the significance of smart parking systems by throwing light on a number of advantages related to the use of smart parking systems. 

Smart parking systems present the scalability and flexibility of effectively addressing issues related to parking. The soaring number of vehicles and the increasing issues regarding traffic congestion have raised the demand for smart parking systems in Western Europe. These systems are being adopted at a high number of corporate campuses and airports in Western Europe, thus augmenting the development of the overall market.

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In the next section of the study, the two main types of smart parking spaces have been presented, namely on-street and off-street parking spaces. Amongst these, in 2015, off-street parking spaces represented a significant share in the market and are poised to reach a value of more than US$112 mn by 2020. Smart parking systems aid organizations in fully utilizing their parking areas by accurately managing the flow of traffic. In addition, off-street parking spaces enhance the parking experience of individuals by saving their time and lowering their emissions of carbon dioxide. All these benefits related to off-street parking spaces will stimulate their demand in forthcoming years.

Moving further, the key dynamics fuelling and restraining the growth of the smart parking market in Europe have been presented. The increasing need to address parking-related problems will provide impetus to the growth of the market in Western Europe. In addition, the rising need for these systems in order to reduce pollution will positively impact the growth of the market in Western Europe. 

Furthermore, the increasing investment done by a number of countries in Western Europe will prove to be beneficial for the development of this market in this region. Contrariwise, the growth of the market in Europe may be hindered by the increasing occurrence of issues in smart parking sensors. 

The competitive landscape of the market has been described in the following part of the report. This section highlights the chief vendors dominant in the smart parking market in Europe. As per this report, Libelium Comunicaciones Distribuidas S. L, Aeris Communications, IPS Group, Inc., Cisco Systems, Gemalto, HCL, IBM, Jasper Technologies, MSR-Traffic, Nedap Mobility Solutions, ParkHelp, ParkMe (INRIX), Parkmobile, Parkopedia, Q-Park, and Serco, among others, are the leading vendors in this market.

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