[Latest] Global Intelligent Park Assist Market Size/Share

Austin, TX, USA, Aug. 10, 2023 (GLOBE NEWSWIRE) -- Custom Market Insights has published a new research report titled “Intelligent Park Assist Market Size, Trends and Insights By Hardware (Pucks (Wireless Sensors), Cameras & LPRs, Smart Meters, Signage, Parking Gates), By Software (Parking Guidance System, Analytics Solutions), By Service (Consulting Service, Engineering Service, Mobile App Parking Service), By Type (On-street, Off-street, Garage Parking, Lot Parking), By Application (Commercial, Government, Transport Transit), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2023–2032” in its research database.

“According to the latest research study, the demand of global Intelligent Park Assist Market size & share was valued at approximately USD 7.22 Billion in 2022 and is expected to reach USD 8.66 Billion in 2023 and is expected to reach a value of around USD 21.7 Billion by 2032, at a compound annual growth rate (CAGR) of about 23% during the forecast period 2023 to 2032.”

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Intelligent Park Assist Market -Growth Factors and Dynamics

Increasing Urbanization: As urban areas continue to expand, the demand for parking spaces rises, leading to traffic congestion and parking challenges. IPA systems offer a smart solution to optimize parking space utilization and improve overall traffic flow in densely populated cities.

Technological Advancements: Advancements in sensor technology, artificial intelligence, and data processing have enhanced the accuracy and effectiveness of IPA systems. These innovations have made parking guidance and automated parking maneuvers more reliable and user-friendly.

Rising Consumer Awareness: Increasing awareness among consumers about the benefits of IPA, such as time-saving, reduced stress, and improved convenience, has driven the demand for these smart parking solutions.

Government Initiatives: Governments and municipalities are recognizing the importance of smart mobility solutions in addressing urban parking issues and reducing environmental impact. Many are implementing policies and incentives to promote the adoption of IPA systems.

Integration with Vehicle Infotainment: Automakers are integrating IPA technology into their infotainment systems, making it more accessible to drivers. This integration has led to the broader adoption of IPA in new vehicles.

Enhanced User Experience: IPA systems offer real-time information on available parking spaces, making it easier for drivers to locate and access parking spots. The user-friendly interfaces and guidance features have contributed to a positive user experience.

Environmental Sustainability: IPA systems can reduce the time spent searching for parking, leading to lower fuel consumption and emissions. As environmental concerns grow, these eco-friendly aspects of IPA systems attract more attention.

Improving Infrastructure: The development of smart infrastructure, such as connected parking lots and smart city initiatives, has provided a conducive environment for the growth of IPA systems.

Potential for Revenue Generation: IPA systems can facilitate efficient payment processing for parking, providing opportunities for revenue generation for parking operators and municipalities.

Competitive Landscape: As the IPA market expands, companies are increasingly investing in research and development to introduce innovative features and stay competitive in the market, fostering continuous growth and evolution of the technology.

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Report Scope

Feature of the Report	Details
Market Size in 2023	USD 8.66 Billion
Projected Market Size in 2032	USD 21.7 Billion
Market Size in 2022	USD 7.22 Billion
CAGR Growth Rate	23% CAGR
Base Year	2022
Forecast Period	2023-2032
Key Segment	By Hardware, Software, Service, Type, Application and Region
Report Coverage	Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope	North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying Options	Request tailored purchasing options to fulfil your requirements for research.

(A free sample of the Intelligent Park Assist report is available upon request; please contact us for more information.)

Our Free Sample Report Consists of the following:

Introduction, Overview, and in-depth industry analysis are all included in the 2022 updated report.
The COVID-19 Pandemic Outbreak Impact Analysis is included in the package.
About 220+ Pages Research Report (Including Recent Research)
Provide detailed chapter-by-chapter guidance on the Request.
Updated Regional Analysis with a Graphical Representation of Size, Share, and Trends for the Year 2022
Includes Tables and figures have been updated.
The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis
Custom Market Insights (CMI) research methodology

(Please note that the sample of the Intelligent Park Assist report has been modified to include the COVID-19 impact study prior to delivery.)

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Intelligent Park Assist Market: COVID-19 Analysis

Disruptions in Supply Chain: The pandemic led to disruptions in global supply chains, affecting the production and distribution of IPA components and systems. Manufacturing facilities faced shutdowns or reduced operations, leading to delays in product availability and installation.

The decline in Automotive Sales: As the pandemic caused economic uncertainties, consumer spending on big-ticket items like automobiles decreased. This decline in automotive sales affected the adoption of IPA systems, as many of these technologies are integrated into new vehicles.

Reduced Mobility and Parking Demand: Lockdowns, travel restrictions, and work-from-home arrangements led to a significant reduction in overall mobility and parking demand in many regions. With fewer people driving and less need for parking spaces, the demand for IPA systems temporarily decreased.

Shift towards Contactless Solutions: In response to the pandemic, there was an increased focus on contactless and touchless solutions to minimize physical interactions. This trend encouraged the adoption of mobile parking payment apps and digital parking solutions, which could affect the demand for IPA systems.

Government Budget Constraints: Governments faced budget constraints due to the pandemic’s economic impact, which might have slowed down investments in smart city projects, including the deployment of IPA systems.

Focus on Safety and Hygiene: During the pandemic, there was a heightened emphasis on safety and hygiene in public spaces. Parking facilities and infrastructure may have been modified to ensure compliance with health protocols, affecting the integration and implementation of IPA systems.

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Key questions answered in this report:

What is the size of the Intelligent Park Assist market and what is its expected growth rate?
What are the primary driving factors that push the Intelligent Park Assist market forward?
What are the Intelligent Park Assist Industry's top companies?
What are the different categories that the Intelligent Park Assist Market caters to?
What will be the fastest-growing segment or region?
In the value chain, what role do essential players play?
What is the procedure for getting a free copy of the Intelligent Park Assist market sample report and company profiles?

Key Offerings:

Market Share, Size & Forecast by Revenue | 2022−2030
Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Leading Trends
Market Segmentation – A detailed analysis by Types of Services, by End-User Services, and by regions
Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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List of the prominent players in the Intelligent Park Assist Market:

Altiux Innovations
Amano McGann Inc.
Amco S.A.
BMW AG (ParkNow GmbH Parkmobile LLC)
Cisco Systems Inc.
CivicSmart Inc.
Deteq Solutions
Flowbird
gtechna
INDECT Electronics & Distribution GmbH
Kapsch TrafficCom
Libelium Comunicaciones Distribuidas S.L.
Meter Feeder Inc.
Mindteck
Municipal Parking Services Inc.
Nedap N.V.
Park Assist
ParkHelp Technologies
ParkJockey
ParkMe Inc.
Robert Bosch GmbH
Siemens AG
SKIDATA AG
Smart Parking Ltd.
SpotHero, Inc.
Swarco AG
Urbiotica S.L.
Others

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Intelligent Park Assist Market – Regional Analysis

North America: North America, particularly the United States, was a leading market for Intelligent Park Assist systems. The region’s strong automotive industry, high urbanization rates, and willingness to adopt advanced technologies contributed to the growth of IPA solutions. Major cities with dense populations and limited parking space availability drove the demand for smart parking systems.

Europe: Europe also represented a significant market for Intelligent Park Assist solutions. Many European cities face parking challenges due to historical layouts and increasing urbanization. Governments and municipalities in the region have actively promoted smart mobility solutions, including IPA, as part of their smart city initiatives.

Asia-Pacific: The Asia-Pacific region showcased immense potential for the growth of Intelligent Park Assist systems. Rapidly urbanizing countries like China and India, with expanding vehicle ownership, have faced severe parking and traffic congestion issues. As a result, there was a growing interest in smart parking solutions, and governments initiated pilot projects and investments in smart mobility technologies.

Latin America: While the adoption of Intelligent Park Assist was comparatively lower in Latin America, there were signs of increasing interest. As urbanization rates continued to rise in major cities across the region, governments and private entities recognized the importance of implementing smart parking solutions to ease congestion and improve parking management.

Middle East and Africa: The Intelligent Park Assist market in the Middle East and Africa was in its early stages of development. Some countries in the region, particularly the Gulf Cooperation Council (GCC) countries, have shown interest in smart city initiatives, which could drive the demand for IPA systems in the future.

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The Intelligent Park Assist Market is segmented as follows:

By Hardware

Pucks (Wireless Sensors)
Cameras & LPRs
Smart Meters
Signage
Parking Gates

By Software

Parking Guidance System
Analytics Solutions

By Service

Consulting Service
Engineering Service
Mobile App Parking Service

By Type

On-street
Off-street
- Garage Parking
- Lot Parking

By Application

Commercial
Government
Transport Transit

Click Here to Get a Free Sample Report of the Global Intelligent Park Assist Market @ https://www.custommarketinsights.com/report/intelligent-park-assist-market/

By Region

North America

The U.S.
Canada
Mexico

Europe

France
The UK
Spain
Germany
Italy
Rest of Europe

Asia Pacific

China
Japan
India
Australia
South Korea
Rest of Asia Pacific

The Middle East & Africa

Saudi Arabia
UAE
Egypt
Kuwait
South Africa
Rest of the Middle East & Africa

Latin America

Brazil
Argentina
Rest of Latin America

This Intelligent Park Assist Market Research/Analysis Report Contains Answers to the following Questions.

Which Trends Are Causing These Developments?
Who Are the Global Key Players in This Intelligent Park Assist Market? What are Their Company Profile, Product Information, and Contact Information?
What Was the Global Market Status of the Intelligent Park Assist Market? What Was the Capacity, Production Value, Cost and PROFIT of the Intelligent Park Assist Market?
What Is the Current Market Status of the Intelligent Park Assist Industry? What's Market Competition in This Industry, Both Company and Country Wise? What's Market Analysis of Intelligent Park Assist Market by Considering Applications and Types?
What Are Projections of the Global Intelligent Park Assist Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about imports and exports?
What Is Intelligent Park Assist Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
What Is the Economic Impact On Intelligent Park Assist Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?
What Are the Market Dynamics of the Intelligent Park Assist Market? What Are Challenges and Opportunities?
What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for Intelligent Park Assist Industry?

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Reasons to Purchase Intelligent Park Assist Market Report

Intelligent Park Assist Market Report provides qualitative and quantitative analysis of the market based on segmentation involving economic and non-economic factors.
Intelligent Park Assist Market report outlines market value (USD) data for each segment and sub-segment.
This report indicates the region and segment expected to witness the fastest growth and dominate the market.
Intelligent Park Assist Market Analysis by geography highlights the consumption of the product/service in the region and indicates the factors affecting the market within each region.
The competitive landscape incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled.
Extensive company profiles comprising company overview, company insights, product benchmarking, and SWOT analysis for the major market players.
The Industry's current and future market outlook concerning recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging and developed regions.
Intelligent Park Assist Market Includes in-depth market analysis from various perspectives through Porter's five forces analysis and provides insight into the market through Value Chain.

Reasons for the Research Report

The study provides a thorough overview of the global Intelligent Park Assist market. Compare your performance to that of the market as a whole.

Aim to maintain competitiveness while innovations from established key players fuel market growth.

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What does the report include?

Drivers, restrictions, and opportunities are among the qualitative elements covered in the worldwide Intelligent Park Assist market analysis.

The competitive environment of current and potential participants in the Intelligent Park Assist market is covered in the report, as well as those companies' strategic product development ambitions.

According to the component, application, and industry vertical, this study analyzes the market qualitatively and quantitatively. Additionally, the report offers comparable data for the important regions.

For each segment mentioned above, actual market sizes and forecasts have been given.

Who should buy this report?

Participants and stakeholders worldwide Intelligent Park Assist market should find this report useful. The research will be useful to all market participants in the Intelligent Park Assist industry.
Managers in the Intelligent Park Assist sector are interested in publishing up-to-date and projected data about the worldwide Intelligent Park Assist market.
Governmental agencies, regulatory bodies, decision-makers, and organizations want to invest in Intelligent Park Assist products' market trends.
Market insights are sought for by analysts, researchers, educators, strategy managers, and government organizations to develop plans.

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