Africa Smart Parking Market By Type (Off-street, On-street), By Technology (Internet of Things (IoT), Ultrasonic, RFID), By Application (Security and surveillance, Smart payment systems, E-parking, License plate recognition), By End User (Commercial, Gove

Africa Smart Parking Market By Type (Off-street, On-street), By Technology (Internet of Things (IoT), Ultrasonic, RFID), By Application (Security and surveillance, Smart payment systems, E-parking, License plate recognition), By End User (Commercial, Government): Opportunity Analysis and Industry Forecast, 2023-2032

The Africa smart parking market report provides information on market size, share, current trends, development, expense framework, capacity, revenue, and opportunities. The market report covers SWOT analysis, budget knowledge, market characteristics, and competitive landscape. This report reviews market dynamics, including drivers, restraints, and opportunities, that influence the Africa smart parking market during the forecast period.

Increase in production of automobiles coupled with poor parking services acts as a key driving force of the Africa smart parking market. In Africa, increase in traffic congestion in metropolitan areas is expected to have a significant impact on the demand for smart parking. Furthermore, increase in deployment of mobile payment systems associated with smart parking is projected to make the market attractive. The presence of numerous players such as Cisco, Afford Universal, and Amano MCG are anticipated to drive the development of the Africa smart parking market.

On the contrary, restraints of the Africa smart parking market include absence of industry standardization and technical difficulties. In addition, high installation cost of smart parking market and lack of skilled professionals are expected to impede the growth of the Africa smart parking market. On the contrary, the integration of advanced technologies such as Radio Frequency Identification (RFID), Internet of Things (IoT), ultrasonic sensors, and license plate recognition (LPR) provides a prominent opportunity to players in the market. To gain a one-upmanship, key players in the market focus on partnerships, collaborations, and product launches. The Africa smart parking market is segmented by type, technology, application, and end user. According to type, the market is bifurcated into off-street and on-street. The off-street segment is expected to hold a major share of the Africa smart parking market throughout the forecast period owing to the advantages it provides such as reduced operation costs, individual convenience, and better parking experience. Depending upon technology, the market is classified into RFID, IoT, and ultrasonic sensors. Among these technologies, the RFID segment is anticipated to dominate the Africa smart parking market due to its low arrangement & operational expenses and higher reliability. By application, the market is divided into security & surveillance, smart payment systems, e-parking, and license plate recognition. The security & surveillance segment is anticipated to hold a prominent share of the Africa smart parking market during the forecast period due to its usage in providing high protection and theft monitoring in premium parking areas.

On the basis of end user, the market is bifurcated into commercial and government. The commercial segment is expected to lead the Africa smart parking market during the forecast period owing to surge in demand for effective parking solutions in airports, hospitals, shopping malls, and resorts in Africa.

The Porter’s five forces analysis assists to understand the competitive scenario of the market and role of each stakeholder. The analysis includes threats of new entrants, threats of substitutes, bargaining power of buyers, bargaining power of suppliers, and competitive rivalry. The market has medium to high threat of substitutes. The bargaining power of suppliers is anticipated to be high. The smart parking market is expected to witness moderate competition among the vendors due to the existence of several key players. Technical innovation in smart parking helps players in the market to acquire a competitive edge. Rise in investments in the Africa smart parking market is anticipated to have a positive effect during the forecast period. Contrarily, high installation cost related to smart parking solutions is anticipated to act as a restraint of the Africa smart parking market. Integration of IoT in the smart parking system is expected to create opportunities for players in the market. The presence of numerous local and global players in the Africa smart parking market is a significant opportunity for market vendors.

Key Benefits for Stakeholders

The report enables informed decision-making process and offers market analysis based on current market situation and estimated future trends.

It analyzes the key strategies adopted by major market players in Africa smart parking market.

The study assesses and ranks the top factors that are expected to affect the growth of Africa smart parking market.

Top player positioning provides a clear understanding of the present position of market players.

Detailed analysis of the Africa smart parking market segmentation assists to determine the prevailing market opportunities.

It identifies key investment pockets for various offerings in the market.
Brands Share Analysis
SWOT Analysis

Key Market Segments

By Type

Off-street
On-street

By Technology

Internet of Things (IoT)
Ultrasonic
RFID

By Application

Security and surveillance
Smart payment systems
E-parking
License plate recognition

By End User

Commercial
Government

Key Market Players

SAP Africa
G4S Africa
Google
IBM
Microsoft
Nipashe Technologies
Voi (formerly Taxify)
Kapsch Group
Parkopedia
Esri Africa

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