What is the market size of Smart Parking Market in India | Industry Trends & Forecast 2025

What is the growth rate of the India Smart Parking Market?

The market is expanding due to growing demand for intelligent parking solutions, rising urban congestion, increasing adoption of IoT and sensor-based systems, supportive smart city projects, and the need for efficient space utilization in commercial, residential, and public parking facilities.

Key Growth Drivers of the India Smart Parking Market

• Increasing adoption of IoT-enabled parking sensors and systems
• Growing demand for automated and real-time parking solutions
• Rising vehicle ownership and limited parking spaces
• Advancements in mobile-based parking applications
• Increasing implementation of ANPR and camera-based systems

India Smart Parking Market Trends

India Smart Parking Market is witnessing notable trends such as rapid deployment of sensor-based parking systems for real-time space detection in urban centers. More people are using automated payment systems and mobile apps that let you book, navigate, and pay without cash. More people are using smart parking platforms that work with city-wide traffic control systems. In business areas, multi-level automated parking facilities are becoming more frequent. There is a new trend of using AI-powered data analytics to guess when parking will be available. Cloud-based parking management systems are becoming more common in both public and private areas.

Emerging Developments in the India Smart Parking Market

India Smart Parking Market is evolving with advancements such as development of fully automated robotic parking systems designed to optimize space and reduce human intervention. Manufacturers and solution providers are investing in AI and machine learning algorithms to improve parking demand forecasting and route optimization. The tech companies, municipal planners, and government officials work together, integrated mobility solutions are growing better. The infrastructure for electric vehicles grows, more charging stations and parking spots that can charge EVs are being built. The use of IoT gateways and edge-based parking controllers is making it easier to make decisions in real time.

List of Leading Companies in the India Smart Parking Market

Some of the leading companies include:

• Tata Elxsi
• Park+
• Get My Parking
• Bosch India
• Siemens Mobility
• Central Parking Services
• Nexx Parking

Frequently Asked Questions About the Market Study (FAQs):