Hybrid Smart Parking Platform Market Analysis The Hybrid Smart Parking Platform Market size will touch USD 2,134 million at an 18% CAGR between the forecast period 2017- 2023, according to the new Market Research Future (MRFR) analysis. A hybrid smart parking platform helps to optimize parking resources with constant data streaming from streets. This offers an analysis of data in real-time and accurate results on parking occupancy based on different data sources. Various factors are propelling the global hybrid smart parking platform market share. According to the recent MRFR market estimates, such factors include the rising preference of consumers towards luxury and comfort, increased competition amid OEMs to provide these driver assistance features, government policies supporting smart parking systems, an increase in the number of cars, and technological advances. Get Free Sample Copy at: https://www.marketresearchfuture.com/sample_request/4241 On the contrary, high implementation cost, limited parking spaces, increasing privacy and security issues in the auto industry, and the on-going COVID-19 pandemic are factors that may deter the market growth trends over the forecast period. Market Segmentations The MRFR report highlights an inclusive segmental analysis of the global smart parking platform market based on component, solution, application, and parking type. By parking type, the global smart parking platform market is segmented into street parking and off street parking. Of these, the street parking segment will lead the market over the forecast period. By component, the global hybrid smart parking platform market is segmented into software, service, and hardware. By solution, the global hybrid smart parking platform market is segmented into parking reservation management, license plate recognition, valet parking management, security and surveillance, and others. By application, the global hybrid smart parking platform market is segmented into residential, government, and commercial. Of these, the commercial segment will spearhead the market over the forecast period. Regional Analysis By region, the hybrid smart parking platform market covers the growth opportunity and recent trends across Europe, North America, the Asia Pacific (APAC), and the Rest of the World (RoW). Of these, North America will spearhead the market over the forecast period. The rising number of cars on the street, growing awareness about pollution, presence of a well-established infrastructure that allows better connectivity for real-time data streaming and implementation of advanced technologies, and increasing demand for this platform are adding to the global
Hybrid Smart Parking Platform Market Growth and Forecast to 2027
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