Automotive Smart Parking Systems Market Report 2024 (Global Edition)

Global Automotive Smart Parking Systems Market Report 2024 Market Size Split by Product Type (Hardware, Software, Service), by Application (Transportation, Government Facilities, Commercial Area, Othe...

Automotive Smart Parking Systems Market Report Description

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Automotive Smart Parking Systems Market Insights Video

Competitive Landscape of the Automotive Smart Parking Systems Market

The major players rapidly evolve with new strategies to attain a competitive edge and capture significant market share. The major Automotive Smart Parking Systems market participants emphasize expanding creative offerings to serve a large consumer base and gain a competitive benefit.

Top Companies Market Share in Automotive Smart Parking Systems Industry: (In no particular order of Rank)

• Aisin Seiki
• Amano
• Cisco Systems
• Continental
• Kapsch Trafficcom
• Nedap
• Bosch
• Siemens
• Smart Parking
• Xerox
• CityLift
• Hyundai Mobis
• Wohr Autoparksysteme
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

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In terms of revenue, the North American Automotive Smart Parking Systems Market share was 40% of the total market

According to Cognitive Market Research, North America led the market in 2023 and generated around 40% of worldwide revenue; the demand for intelligent parking solutions is fueled by the region's concentration on smart infrastructure, urban expansion, and sophisticated technologies. The Automotive Smart Parking Systems Market is mostly shaped by North America, which focuses on improving overall urban mobility, lowering traffic, and optimizing parking management.

Europe is the fastest-growing category, as the demand for intelligent parking solutions is driven by the region's dedication to sustainable mobility, smart urban development, and technological innovation. Europe is a major driving force behind the growth of the automotive smart parking systems market, emphasizing maximizing parking efficiency and minimizing environmental impact.

The current report Scope analyzes Automotive Smart Parking Systems Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only. To learn more about geographical trends request the free sample pages. Contact US!

North America Automotive Smart Parking Systems Market

According to Cognitive Market Research, the global Automotive Smart Parking Systems market size was estimated at USD 2684.8 Million out of which North America held the major market of more than 40% of the global revenue with a market size of USD 1073.92 million in 2023 and will grow at a compound annual growth rate (CAGR) of 4.0% from 2023 to 2030. Due to its dedication to technical innovation and smart urban development, North America is a major player in the automotive smart parking systems industry, with a dynamic overview. The market is expanding rapidly, especially in the sectors that concentrate on minimizing urban traffic and increasing parking efficiency. With North America adopting cutting-edge technologies and sophisticated infrastructure, the market for automotive smart parking systems is growing steadily. The assimilation of intelligent parking solutions into the wider urban environment is congruent with the area's objectives of augmenting comprehensive mobility and ecological sustainability. North America will have a significant impact on how the Automotive Smart Parking Systems market develops in the future due to its emphasis on smooth urban life and effective transportation.

• According to Cognitive Market Research, the US had a major share in the Automotive Smart Parking Systems market with a market size of USD 847.32 million in 2023 and is projected to grow at a CAGR of 3.8% during the forecast period. This is majorly due to the growing emphasis on smart cities. 
• The Canada Automotive Smart Parking Systems market had a market share of USD 128.87 million in 2023 and is projected to grow at a CAGR of 4.8% during the forecast period. This is due to the sustainable urban development. 
• The Mexico Automotive Smart Parking Systems market is projected to witness growth at a CAGR of 4.5% during the forecast period with a market size of USD 97.73 million in 2023.

Europe Automotive Smart Parking Systems Market

According to Cognitive Market Research, with a market value of USD 2684.8 million in 2023 and projected to expand at a compound annual growth rate (CAGR) of 4.3% from 2023 to 2030, Europe accounted for a share of over 30% of the global Automotive Smart Parking Systems market size of USD 805.44 million. Europe's market for automotive smart parking systems is growing at a significant rate, with a broad overview influenced by the region's commitment to technological innovation and sustainable mobility. Significant market growth is observed, especially in segments that prioritize intelligent transportation solutions and smart urban development. Car smart parking systems are becoming more and more popular because of Europe's dedication to improving urban efficiency and minimizing its negative environmental effects. The Automotive Smart Parking Systems market in Europe is poised for steady expansion as a result of the region's embrace of cutting-edge technologies and integration of such technologies into its urban infrastructure. This is indicative of the region's focus on developing intelligent and environmentally friendly urban environments for its residents. The market's development is consistent with Europe's ambition for connected and sustainable urban mobility in the future.

• According to Cognitive Market Research, the Germany Automotive Smart Parking Systems market size was valued at USD 159.48 million in 2023 and is projected to grow at a CAGR of 4.5% during the forecast period. The country's dedication to technology-driven urbanization is in line with the demand for effective parking options. 
• The United Kingdom Automotive Smart Parking Systems market had a market share of USD 135.31 million in 2023 and is projected to grow at a CAGR of 5.1% during the forecast period. This is due to the country's fast urbanization. 
• The France Automotive Smart Parking Systems market is projected to witness growth at a CAGR of 3.5% during the forecast period with a market size of USD 74.10 million in 2023.
• The Italy Automotive Smart Parking Systems market is projected to witness growth at a CAGR of 3.7% during the forecast period with a market size of USD 69.27 million in 2023.
• The Russia Automotive Smart Parking Systems market is projected to witness growth at a CAGR of 3.3% during the forecast period with a market size of USD 124.84 million in 2023.
• The Spain Automotive Smart Parking Systems market is projected to witness growth at a CAGR of 3.4% during the forecast period with a market size of USD 66.05 million in 2023.
• The Portugal Automotive Smart Parking Systems market is projected to witness growth at a CAGR of 4.1% during the forecast period with a market size of USD 16.91 million in 2023.
• The Luxembourg Automotive Smart Parking Systems market is projected to witness growth at a CAGR of 4.4% during the forecast period with a market size of USD 24.97 million in 2023.
• The Greece Automotive Smart Parking Systems market is projected to witness growth at a CAGR of 4.6% during the forecast period with a market size of USD 9.67 million in 2023.
• The Rest of Europe Automotive Smart Parking Systems market is projected to witness growth at a CAGR of 3.0% during the forecast period with a market size of USD 124.84 million in 2023.

Asia Pacific Automotive Smart Parking Systems Market

According to Cognitive Market Research, the global Automotive Smart Parking Systems market size was estimated at USD 2684.8 Million out of which Asia Pacific held the market of more than 23% of the global revenue with a market size of USD 617.5 million in 2023 and will grow at a compound annual growth rate (CAGR) of 7.8% from 2023 to 2030. Asia Pacific, with its dynamic outlook shaped by fast urbanization and technological adoption, emerges as a key participant in the automotive smart parking systems market. The market is expanding at a significant rate, especially in the segments that concentrate on improving parking management and reducing urban congestion. The requirement for effective urban mobility in Asia Pacific is driving an increased need for intelligent transportation solutions, which is propelling the market for automotive smart parking systems to grow rapidly. The Asia Pacific Automotive Smart Parking Systems market is well-positioned for steady growth, in line with the changing urban landscape and the growing need for intelligent parking solutions to improve overall transportation efficiency. This is due to the region's continued adoption of smart city initiatives and investments in cutting-edge technologies.

• According to Cognitive Market Research, the China Automotive Smart Parking Systems market size was valued at USD 277.88 million in 2023 and is projected to grow at a CAGR of 7.3% during the forecast period. This is majorly due to the need for intelligent transportation systems. 
• The India Automotive Smart Parking Systems market had a market share of USD 74.10 million in 2023 and is projected to grow at a CAGR of 9.6% during the forecast period. This is mostly because smart cities are becoming more and more important. 
• The Japan Automotive Smart Parking Systems market is projected to witness growth at a CAGR of 6.3% during the forecast period with a market size of USD 85.22 million in 2023.
• The South Korea Automotive Smart Parking Systems market is projected to witness growth at a CAGR of 6.9% during the forecast period with a market size of USD 61.75 million in 2023.
• The Australia Automotive Smart Parking Systems market is projected to witness growth at a CAGR of 7.5% during the forecast period with a market size of USD 32.11 million in 2023.
• The South East Asia Automotive Smart Parking Systems market is projected to witness growth at a CAGR of 8.8% during the forecast period with a market size of USD 32.11 million in 2023.
• The Rest of Asia Pacific Automotive Smart Parking Systems market is projected to witness growth at a CAGR of 7.6% during the forecast period with a market size of USD 43.84 million in 2023.

South America Automotive Smart Parking Systems Market

According to Cognitive Market Research, the global Automotive Smart Parking Systems market size was estimated at USD 2684.8 Million out of which Latin America market of more than 5% of the global revenue with a market size of USD 134.24 million in 2023 and will grow at a compound annual growth rate (CAGR) of 5.2% from 2023 to 2030. The market for automotive smart parking systems is dominated by Latin America, which is distinguished by a broad picture defined by the region's urbanization trends and adoption of cutting-edge technologies. The market is growing at a significant rate, especially in segments that prioritize efficient transportation and smart urban development. The deployment of automotive smart parking systems is fueled by Latin America's growing emphasis on traffic congestion relief and urban infrastructure modernization. The Latin American market for automotive smart parking systems is poised for steady growth as a result of the region's continued investment in smart transportation programs, which reflects the region's dedication to developing interconnected and effective urban environments. The market's development is in line with Latin America's goal of improving general mobility and offering creative answers to urban problems.

• According to Cognitive Market Research, the Brazil Automotive Smart Parking Systems market size was valued at USD 57.45 million in 2023 and is projected to grow at a CAGR of 5.8% during the forecast period. The country's dedication to technology-driven urbanization is in line with the demand for effective parking options. 
• The Argentina Automotive Smart Parking Systems market had a market share of USD 22.55 million in 2023 and is projected to grow at a CAGR of 6.1% during the forecast period. This is due to the country's fast urbanization. 
• The Colombia Automotive Smart Parking Systems market is projected to witness growth at a CAGR of 5.0% during the forecast period with a market size of USD 11.95 million in 2023.
• The Peru Automotive Smart Parking Systems market is projected to witness growth at a CAGR of 5.4% during the forecast period with a market size of USD 11.01 million in 2023.
• The Chile Automotive Smart Parking Systems market is projected to witness growth at a CAGR of 5.5% during the forecast period with a market size of USD 9.67 million in 2023.
• The Rest of Latin America Automotive Smart Parking Systems market is projected to witness growth at a CAGR of 4.3% during the forecast period with a market size of USD 21.61 million in 2023.

Middle East and Africa Automotive Smart Parking Systems Market

According to Cognitive Market Research, the global Automotive Smart Parking Systems market size was estimated at USD 2684.8 Million out of which Middle East and Africa held the major market of more than 2% of the global revenue with a market size of USD 53.70 million in 2023 and will grow at a compound annual growth rate (CAGR) of 5.5% from 2023 to 2030. Middle East & Africa, which are characterized by a dynamic overview impacted by fast urbanization and the adoption of cutting-edge technology, considerably contribute to the automotive smart parking systems market. The market is growing at a significant rate, especially in the segments that are concentrated on cutting-edge transportation and smart urban development. The requirement for effective and contemporary urban mobility is driving an increased need for intelligent parking solutions, which is mostly responsible for the region's automotive smart parking systems market's growth. The automotive smart parking systems market is well-positioned for sustained growth as Middle East & Africa invest in smart city initiatives and adopt transportation innovations. This is because the market is in line with the changing urban landscape and the growing demand for intelligent parking solutions to improve overall transportation efficiency.

• According to Cognitive Market Research, the GCC Countries Automotive Smart Parking Systems market size was valued at USD 22.98 million in 2023 and is projected to grow at a CAGR of 6.3% during the forecast period. This is majorly due to the growing emphasis on smart cities. 
• The South Africa Automotive Smart Parking Systems market had a market share of USD 8.48 million in 2023 and is projected to grow at a CAGR of 6.5% during the forecast period. This is due to the sustainable urban development. 
• The Egypt Automotive Smart Parking Systems market is projected to witness growth at a CAGR of 5.8% during the forecast period with a market size of USD 5.64 million in 2023.
• The Turkey Automotive Smart Parking Systems market is projected to witness growth at a CAGR of 5.0% during the forecast period with a market size of USD 4.62 million in 2023.
• The Nigeria Automotive Smart Parking Systems market is projected to witness growth at a CAGR of 4.6% during the forecast period with a market size of USD 5.64 million in 2023.
• The Rest of MEA Automotive Smart Parking Systems market is projected to witness growth at a CAGR of 4.5% during the forecast period with a market size of USD 6.34 million in 2023.

Automotive Smart Parking Systems Market Analysis

Automotive Smart Parking Systems Product Type Segment Analysis

According to Cognitive Market Research, Hardware held the major market share over the forecast period. Sensors, cameras, and connectivity solutions are included to collect and communicate data in real-time for smart parking systems. The efficiency and efficacy of these systems are greatly increased by the ongoing development and use of hardware components, which satisfies the growing need for intelligent parking solutions in urban settings.

Software is the fastest-growing category over the forecast period. Innovative software solutions are essential to handle and analyze the data gathered by sensors and cameras and give users access to real-time information. The functionality, accuracy, and user experience of smart parking systems are all improved by the ongoing development of software applications, which help the market expand and become more widely used in urban settings.

• Hardware
• Software
• Service

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Automotive Smart Parking Systems Application Segment Analysis

According to Cognitive Market Research, Transportation holds a prominent market share. The increasing need for intelligent and efficient parking solutions makes integrating smart parking systems into larger transportation ecosystems imperative. These solutions support smooth transit, improve urban mobility, and optimize traffic flow, fueling market expansion for automotive smart parking systems.

Government Facilities are the fastest-growing category over the forecast period. Implementing smart parking solutions in government buildings, such as administrative and public offices, aims to increase overall urban mobility, lessen traffic, and improve parking efficiency. The market is expected to grow due to the integration of these systems, which aligns with government ambitions to upgrade infrastructure and offer citizens intelligent and convenient parking options.

• Transportation
• Government Facilities
• Commercial Area
• Other

The above Graph is for representation purposes only. This chart does not depict actual Market share. Please purchase the Automotive Smart Parking Systems market report 2024 Edition by contacting our team.

Author's Detail

Kalyani Raje

Senior Research Analyst at Cognitive Market Research

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An optimistic Senior Research Analyst with years of experience in competitive assessment and business consulting. A seasoned professional and subject-matter expert (SME) in the Automobile & Transportation vertical.

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