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In a recently published report, Global Parking Systems Market report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Global Parking Systems Market products.

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Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further.

The scarcity of parking spaces has become a worldwide problem mainly due to the increasing number of vehicles on the road. Parking concerns are increasing at an incredible speed. In the light of this, Parking Reservation Systems have emerged as the state of art parking solutions which provide real-time updates about the available parking spaces to the users. Apart from less traffic cramming, parking reservation system also reduces the wastage of fuel and provides extra security and manning for the vehicles. Parking management systems have witnessed a substantial amount of change by introducing cashless payments, real-time parking space information, parking sensors etc. This has helped in the rapid growth of smart parking management solutions increasing their demands globally.

End-user/Technology
Further, the demand for parking reservation system is expected to increase in transportation, due to traffic congestion and has now diversified to retail, government & municipalities sectors.
The mobile applications of parking reservation systems are growing at a faster rate. The parking slots can be reserved easily and effectively since it involves the use of GSM, GPS, and smartphone technologies through which. The increasing adoption of smartphones has enabled access to travel time, speed data, and origin-destination information.

Market Dynamics
The major growth drivers for this market include rising disposable income among consumers, along with increasing global population and rising need for smart city projects. The major challenge for this market is the proper parking technology execution with zero error and truck congestion.

Market Segmentation
Parking Reservation System Market by Device
Meters
Automated Gates
DVRs and Surveillance Cameras
Ultrasound Occupancy Sensors
Others
Parking Reservation System Market by Solution
Valet Parking Management Solution
Surveillance & Security
Revenue Management
Slot management
Access Control
Others
Parking Reservation System Market By Industry
Education
Government Bodies
Healthcare
Commercial Parks
Retail
Transportation
Others
Parking Reservation System Market By Software
Payment Software
Information System
Parking Reservation System Market By Service
Customization & Deployment Model
Support & Maintenance Services
Parking Reservation System Market By Geography
North America
Europe
The Asia Pacific
Middle East & Africa
Latin America

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Regional/Geographic Analysis
Developed countries such as Germany and the U.S are heavily investing in the implementation of parking reservation system for heavy vehicles like trucks.The market for parking reservation system is expected to get a boost with the adoption of smart parking system in developed countries. India and China are expected to be a potential market for parking reservation system market in the future. However, a slower adoption rate of parking reservation system in developing countries is expected to pose a challenge for this market in coming years.

Opportunities
The increasing usage of mobile-based parking reservation apps by smartphone users offer a promising growth prospect for the technology vendors,cloud-based service providers, and system integrators. Thus, technological advancements have created ample growth opportunities in the field of parking reservation.
Key players in this market are:
TCS International Inc,
Complus Data Innovations, Inc.
Energy Development Corporation
Group Techna, Inc.
Siemens AG
Passport Parking
3M Company
Amano Corporation, LLC
Affiliated Computer Services
HCL Technologies Ltd.

Report ContentsRegional AnalysisReport Highlights
Market segments
Market Drivers, Restraints and Opportunities
Market Size & Forecast 2016 to 2022
Supply & Demand Value Chain
Market – Current Trends
Competition & Major Companies
Technology and R&D Status
Porters Five Force Analysis
Strategic and Critical Success Factor Analysis of Key Players
North America
US and Canada
Latin America
Mexico, Brazil, Argentina and Rest of Latin America
Western Europe
EU5 (Germany, France, Italy, Spain, U.K.)
Nordic Countries (Denmark, Finland, Norway, and Sweden)
Benelux (Belgium, The Netherlands, and Luxembourg)
Rest of Western Europe
Eastern Europe
Russia
Poland
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia and New Zealand
Rest of Asia Pacific
Middle East and Africa
GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
South Africa
North Africa
Rest of Middle East and Africa

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This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides details on market segmentation which is derived from several product mapping exercises, macroeconomic parameters and other qualitative and quantitative insights. The impact of all such factors is delivered across multiple market segments and geographies.
Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)
Consumer and Pricing Analysis
Market dynamics of the industry
Market Segmentation
Estimated Market Sizing in terms of volume and value
Recent trends in Market and impact
Research Status and Technology Overview
Extensive Industry Structure Coverage

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Leonard Thomas

Leonard Thomas is an energetic and versatile freelance writer for 5 years, he pen down any type of articles and web content. he is a Cambridge University Business English Certificate (Europe Level) holder . he is analytical, enthusiastic and ingenious, with the essence to work variously, strives to emerge as a lucrative individual who has a grasp on market. Congenial Interpersonal skills and the competence to grab every single trivia with foolproof analysis is something he primarily posses .

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