Smart Parking Management System Market | Exactitude Consultancy Reports

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Exactitude Consultancy Latest Published Smart Parking Management System Market by Solution (Security and Surveillance, Parking Reservation Management, Valet Parking Management, License Plate Recognition), Technology (Ultrasonic Sensor, Radar Sensor, Image Sensor), System Type (Guided Park Assist, Smart Park Assist, On-Street, and Off-Street), Component (Parking Sensors, Steering Angle Sensors, Electronic Control Unit (ECU), Display Unit), Application (Government, Commercial) and Region (North America, Europe, Asia Pacific, South America, Middle East and Africa) Global Trends and Forecast from 2023 to 2029

The global smart parking management system market size is projected to reach USD 23.28 billion by 2029, at a CAGR of 20.6% during the forecast period.
Segment Analysis
The market is segmented on the basis of solution, technology, system type, component, application, and region. On the basis of the solution, the smart parking management system market is divided into four types security and surveillance, parking reservation management, valet parking management, and license plate recognition. In crowded retail malls, stadiums, and other popular venues, a parking reservation management system is a valuable device for managing parking space through better access control and parking revenue methods. The License Plate Recognition (LPR) segment is anticipated to appear as the fastest-growing segment during the forecast period

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