Smart Parking Market Size | COVID-19 Impact Analysis
Smart parking systems use cutting-edge sensor technologies to help motorists detect parking space. Technologies that are currently used for smart parking include ultrasonic, smartapp, RFID. Some of the factors driving the global Smart Parking Market Size include rapid adoption of smart city solutions, IoT integration and growing emphasis of proper utilization of space. Adoption of advanced technologies such as smart parking help in tackling issues of urban cities. Nonetheless, the such technologies at a nascent stage and require massive investments, which to an extent is limiting this growth potentials. Segmental Analysis MRFR’s study covers a thorough segmental analysis of the market on the basis of technology and parking site. Based on parking site, the market has been segmented into off-street and on-street. The off-street segment commands a sizable market share in term of revenue. Off-sites are popular spots for parking vehicles. Such parking sites help in re...