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(I-SoftwareNews.Com, May 12, 2018 ) Global smart parking systems market is expected to grow from US$ 398.6 million in 2016 to US$ 1462.3 million by 2025 at a CAGR of 15.7% between 2017 and 2025.
Smart parking systems address critical parking issues, by making it easier for drivers to park their vehicles without wasting time and fuel. Smart parking systems avail their users with real-time information regarding available parking spaces across the city, thereby reducing the traffic congestion caused due to mismanaged parking spaces. Amano Mcgann, Smart Parking Ltd., Xerox, Cisco and Urbiotica are among the major players operating in this market. North America, being a technologically advanced region along with high number vehicle population and congestion in cities, has witnessed highest adoptions of smart parking systems by government & municipalities of various cities. Europe is the second largest adopter of smart parking systems, while APAC region with growing urbanization and increasing technological trends is anticipated to be the fastest growing region globally.
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The List of Companies
- ASML Holding NV
- Axcel Photonics, Inc.
- Coherent Inc.
- IPG Photonics Corp.
- Newport Corp.
- Rofin-Sinar Technologies Inc.
- Sharp Corporation
- Sumitomo Electric Industries, Ltd.
- Trumpf GmbH + Co. KG
- Panasonic Semiconductor Solutions Co., Ltd
The smart parking systems market report focuses on an in-depth segmentation of Smart parking market based by parking site, components and end-user industry. The geographic segmentation of the report covers six major regions including; North Americas, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America (SA). The regional market has been further bifurcated by respective countries. By end-user vertical transport facilities sector accounted for the largest share of the smart parking systems market in 2016; whereas, APAC region is expected to grow at the highest CAGR during the forecast period.
The report aims to provide an overview of global smart parking systems market with detailed market segmentation. Also, it analyzes the current smart parking systems market scenario and forecasts the market till 2025. The report covers market dynamics effecting the market during the forecast period. Furthermore, the report analyzes the competitive scenario, geographic trends, and opportunities in the markets with respect to all geographic regions. The report also includes the detailed company profiles of the key players in the market along with their market strategies. The smart parking systems market report also provide porter’s five forces analysis and SWOT analysis for all company profiled in the smart parking systems market report.
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The Insight Partners
Sameer Joshi
+91 9666111581
sam@theinsightpartners.com
Source: EmailWire.Com 
Source: EmailWire.com
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