United States Smart Parking Market, By System (Guided Park Assist System and Smart Park Assist System), By Component (Parking Sensors, Others), By Sensor Technology (Ultrasonic Sensor, Others), By Solution (Security & Surveillance, others), By Vertical (Government and Commercial), By Company and By Geography, Forecast & Opportunities, 2025

As on date of publishing, this report will capture the impact assessment of COVID-19 on this market and the same will be considered in our market forecast model. Clients purchasing this report between April and June 2020 will be getting a ‘free’ updated market data excel sheet between July and September 2020 accounting for the impact of COVID-19 on the market in the current year 2020 and forecast.

United States Smart Parking Market is projected to grow at a double digit CAGR during the forecast period owing to growing urbanization, growing automotive industry, growing automotive sensors demand & market and growing investments in infrastructure in the country. Moreover, United States is the largest market of smart parking across the globe owing to presence of various technology companies, government regulations and financial support. Furthermore, due to the presence of heavy traffic in cities such as New York, Los Angeles, etc and growing higher level of awareness towards modern solutions for traffic control and parking further drives the growth of the smart parking market in United States. Based on sensor technology, the market has been categorised into Ultrasonic Sensor, Image Sensor and Radar Sensor. In 2019, the Ultrasonic sensor market dominated the market and is expected to maintain its dominance over the next five years as well since these sensors are installed across the vehicle and guides rge vehicle in identification of the available parking spaces. Parking systems like SFpark program has already been installed in the country and has proved that the smart parking systems can bring a fruitful change in traffic and parking conditions across the country. The key players dominated the market are Cubic Corporation, Cisco Systems, Inc., Mindteck, BMW AG, among others.

Historical Years: 2015-2018

Base Year: 2019

Estimated Year: 2020

Forecast Period: 2021–2025

Objective of the Study:

• To analyse and forecast the market size of Smart Parking Market, in terms of value and volume.
• To classify and forecast United States Smart Parking Market based on system type, component, sensor technology, solution, vertical and regional distribution.
• To identify drivers and challenges for United States Smart Parking Market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in United States Smart Parking Market.
• To conduct the pricing analysis for Smart Parking Market.
• To identify and analyse the profile of leading players involved in the manufacturing of United States Smart Parking Market.

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Some of the leading players in the United States Smart Parking Market are Continental AG, Robert Bosch GmbH, Delphi Automotive PLC, Aisin Seiki Co., Ltd, Valeo S.A., Siemens AG, Cubic Corporation, Xerox Corporations etc.

TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers across United States. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the suppliers which could not be identified due to the limitations of secondary research. TechSci Research analysed the service offerings, distribution channels and presence of all major collaboration manufacturer across United States.

TechSci Research calculated the market size of United States Smart Parking Market using a bottom-up approach, where data for various end user industries and its application across various product types were recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analysing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company website, news articles, press releases, company annual reports, investor presentations and financial reports were also used by TechSci Research.

Key Target Audience:

• Automotive smart park assists system manufacturers & component suppliers
• Automobile OEM’s
• Parking Management Solution Providers
• Parking Management Hardware and Services Providers
• Research Institutes
• Associations, organizations, forums and alliances related to Smart Parking manufacturers.
• Industry associations
• Market research and consulting firm.

The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as collaboration manufacturer and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.

Report Scope:

In this report, United States Smart Parking Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

• Market, by System type:
• Guided Park Assist System
• Smart Park Assist System
• Market, by Component:
• Parking Sensors
• Steering Angle Sensors
• Electronic Control Unit (ECU)
• Display Unit
• Market, by Sensor Technology:
• Ultrasonic Sensor
• Image Sensor
• Radar Sensor
• Market, by Solution:
• Security & Surveillance
• Valet Parking Management
• License Plate Recognition
• Parking Reservation Management
• Market, by Vertical:
• Government
• Commercial
•  Market, by Country:
• United States
• South-Region
• West-Region
• Mid-West Region
• Northeast-Region

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in Smart Parking Market.

Available Customizations:

With the given market data, TechSci Research offers customizations according the company’s specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).

Profit Margin Analysis

• Profit margin analysis in case of direct and indirect sales channel.

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