India Smart Parking Market (2025-2031) Outlook | Growth, Companies, Analysis, Trends, Forecast, Revenue, Industry, Size, Share & Value
Market Forecast By System (Guided & Smart Park), By Technology (Ultrasonic, Radar, Image), By Parking Management Solution (Security & Surveillance, Valet & Parking Reservation, License Plate Recognition) And Competitive Landscape
| Product Code: ETC4572205 | Publication Date: Jul 2023 | Product Type: Report | |
| Publisher: 6Wresearch | No. of Pages: 85 | No. of Figures: 45 | No. of Tables: 25 |
India Smart Parking Market Import Shipment Trend (2020-2024)
The India smart parking market import shipment demonstrated robust growth from 2020 to 2024, with a notable CAGR of 40.1%. Momentum accelerated significantly between 2023 and 2024, showing a growth rate of 138.9%. The market expanded rapidly, indicating a strong upward trend and increasing demand for smart parking solutions in India.
India Smart Parking Market Overview
As urbanization continues in India, parking space availability is becoming scarcer in cities. Smart parking solutions, including sensors and mobile apps, are helping drivers locate parking spaces more easily. In a country where urban congestion is a significant challenge, the smart parking market is expected to grow as it addresses an essential need for city dwellers.
Drivers of the Market
The India Smart Parking market is witnessing significant growth due to several driving factors. The rapid urbanization and increasing vehicle ownership in India have led to a rising demand for efficient and convenient parking solutions. Smart parking systems, equipped with IoT sensors, cameras, and data analytics, offer real-time information on parking space availability, reducing the time and effort required to find parking spots. Moreover, government initiatives aimed at promoting smart cities and the integration of technology into urban infrastructure have accelerated the adoption of smart parking solutions. With the aim of reducing traffic congestion and pollution, cities across India are embracing smart parking as a key component of their mobility plans. As a result, the India Smart Parking market is expected to witness sustained growth in the coming years.
Challenges of the Market
The smart parking market in India faces challenges related to infrastructure development. Setting up the necessary sensors, payment systems, and connectivity solutions across a diverse urban landscape is a complex task. Ensuring compatibility and standardization across various cities also poses a challenge.
COVID-19 Impact on the Market
The pandemic led to reduced mobility and less demand for parking spaces. Smart parking solutions faced challenges, but in the long term, contactless payment and reservation systems have become more attractive.
Key Players in the Market
Key players in India smart parking market include Parkmobile, Smart Parking Ltd, Parkopedia, T2 Systems, and Streetline.
Key Highlights of the Report:
- India Smart Parking Market Outlook
- Market Size of India Smart Parking Market, 2024
- Forecast of India Smart Parking Market, 2031
- Historical Data and Forecast of India Smart Parking Revenues & Volume for the Period 2021-2031
- India Smart Parking Market Trend Evolution
- India Smart Parking Market Drivers and Challenges
- India Smart Parking Price Trends
- India Smart Parking Porter's Five Forces
- India Smart Parking Industry Life Cycle
- Historical Data and Forecast of India Smart Parking Market Revenues & Volume By System for the Period 2021-2031
- Historical Data and Forecast of India Smart Parking Market Revenues & Volume By Guided & Smart Park for the Period 2021-2031
- Historical Data and Forecast of India Smart Parking Market Revenues & Volume By Technology for the Period 2021-2031
- Historical Data and Forecast of India Smart Parking Market Revenues & Volume By Ultrasonic for the Period 2021-2031
- Historical Data and Forecast of India Smart Parking Market Revenues & Volume By Radar for the Period 2021-2031
- Historical Data and Forecast of India Smart Parking Market Revenues & Volume By Image for the Period 2021-2031
- Historical Data and Forecast of India Smart Parking Market Revenues & Volume By Parking Management Solution for the Period 2021-2031
- Historical Data and Forecast of India Smart Parking Market Revenues & Volume By Security & Surveillance for the Period 2021-2031
- Historical Data and Forecast of India Smart Parking Market Revenues & Volume By Valet & Parking Reservation for the Period 2021-2031
- Historical Data and Forecast of India Smart Parking Market Revenues & Volume By License Plate Recognition for the Period 2021-2031
- India Smart Parking Import Export Trade Statistics
- Market Opportunity Assessment By System
- Market Opportunity Assessment By Technology
- Market Opportunity Assessment By Parking Management Solution
- India Smart Parking Top Companies Market Share
- India Smart Parking Competitive Benchmarking By Technical and Operational Parameters
- India Smart Parking Company Profiles
- India Smart Parking Key Strategic Recommendations
Frequently Asked Questions About the Market Study (FAQs):
6Wresearch actively monitors the India Smart Parking Market and publishes its comprehensive annual report, highlighting emerging trends, growth drivers, revenue analysis, and forecast outlook. Our insights help businesses to make data-backed strategic decisions with ongoing market dynamics. Our analysts track relevent industries related to the India Smart Parking Market, allowing our clients with actionable intelligence and reliable forecasts tailored to emerging regional needs.
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1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 India Smart Parking Market Overview |
3.1 India Country Macro Economic Indicators |
3.2 India Smart Parking Market Revenues & Volume, 2021 & 2031F |
3.3 India Smart Parking Market - Industry Life Cycle |
3.4 India Smart Parking Market - Porter's Five Forces |
3.5 India Smart Parking Market Revenues & Volume Share, By System, 2021 & 2031F |
3.6 India Smart Parking Market Revenues & Volume Share, By Technology, 2021 & 2031F |
3.7 India Smart Parking Market Revenues & Volume Share, By Parking Management Solution, 2021 & 2031F |
4 India Smart Parking Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.2.1 Increasing urbanization and population density leading to higher demand for efficient parking solutions. |
4.2.2 Government initiatives promoting smart city projects and technology adoption. |
4.2.3 Growth in the number of vehicles on the road, increasing the need for smart parking solutions. |
4.2.4 Rising disposable income levels contributing to higher spending on convenience and technology. |
4.2.5 Technological advancements in IoT, AI, and mobile applications enhancing smart parking infrastructure. |
4.3 Market Restraints |
4.3.1 High initial investment costs for setting up smart parking systems. |
4.3.2 Lack of standardized regulations and policies for smart parking across different cities in India. |
4.3.3 Limited awareness and adoption of smart parking solutions among the general public. |
4.3.4 Challenges related to the integration of various technologies and interoperability issues. |
4.3.5 Security and privacy concerns regarding the data collected by smart parking systems. |
5 India Smart Parking Market Trends |
6 India Smart Parking Market, By Types |
6.1 India Smart Parking Market, By System |
6.1.1 Overview and Analysis |
6.1.2 India Smart Parking Market Revenues & Volume, By System, 2021-2031F |
6.1.3 India Smart Parking Market Revenues & Volume, By Guided & Smart Park, 2021-2031F |
6.2 India Smart Parking Market, By Technology |
6.2.1 Overview and Analysis |
6.2.2 India Smart Parking Market Revenues & Volume, By Ultrasonic, 2021-2031F |
6.2.3 India Smart Parking Market Revenues & Volume, By Radar, 2021-2031F |
6.2.4 India Smart Parking Market Revenues & Volume, By Image, 2021-2031F |
6.3 India Smart Parking Market, By Parking Management Solution |
6.3.1 Overview and Analysis |
6.3.2 India Smart Parking Market Revenues & Volume, By Security & Surveillance, 2021-2031F |
6.3.3 India Smart Parking Market Revenues & Volume, By Valet & Parking Reservation, 2021-2031F |
6.3.4 India Smart Parking Market Revenues & Volume, By License Plate Recognition, 2021-2031F |
7 India Smart Parking Market Import-Export Trade Statistics |
7.1 India Smart Parking Market Export to Major Countries |
7.2 India Smart Parking Market Imports from Major Countries |
8 India Smart Parking Market Key Performance Indicators |
8.1 Average occupancy rate of smart parking spaces. |
8.2 Average time taken for a vehicle to find parking using smart parking systems. |
8.3 Number of smart parking spots deployed in key cities. |
8.4 Percentage increase in the usage of mobile applications for parking payment and reservations. |
8.5 Customer satisfaction scores related to the convenience and ease of use of smart parking solutions. |
9 India Smart Parking Market - Opportunity Assessment |
9.1 India Smart Parking Market Opportunity Assessment, By System, 2021 & 2031F |
9.2 India Smart Parking Market Opportunity Assessment, By Technology, 2021 & 2031F |
9.3 India Smart Parking Market Opportunity Assessment, By Parking Management Solution, 2021 & 2031F |
10 India Smart Parking Market - Competitive Landscape |
10.1 India Smart Parking Market Revenue Share, By Companies, 2024 |
10.2 India Smart Parking Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations |
13 Disclaimer |
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