Germany 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, Gov

Germany 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

Germany is one of leading markets for smart parking throughout the globe due to increase in population, urbanization vehicle imports continue to rise, cities are reducing overloaded, surge in need for advance and effective vehicle parking solutions. In addition, with increase in demand for vehicle parking services, the Germany smart parking market is rapidly adopting advance technologies options such as Internet of thing (IoT), RFID, and others. The smart parking market in Germany is segmented into type, technology, application, and end users. The market is prepared to witness substantial growth during the forecast period owing to an increase in the need for effective and automated auto parking solutions.

In addition, development in the Germany smart parking market is majorly driven by increase in demand for effective and computerized car parking services. Further, rise in imports of lorries in the country has caused an increase in traffic and vehicle parking concerns in significant cities, which has further spurred the need for smart parking services. Moreover, the Germany smart parking market supplies various technical services that can boost overall auto parking experience, such as electronic repayment systems, parking lot sensors & electronic cameras, and certificate plate acknowledgment. Moreover, these modern technologies are progressively being embraced by various industrial and government establishments, which is driving the development of the Germany smart parking market. Furthermore, factors such as high set-up& upkeep prices, lack of knowledge, and recognition are expected to impede the development of the market in the future. In addition, the influence of the COVID-19 pandemic on the automotive industry is going to hinder the growth of the smart parking market in the future.

One of the major possibilities in the Germany smart parking market coupled on advancements and combination of modern technology. The rapid technical development in expert systems (AI) and big information analytics offers numerous opportunities to manage and monitor parking lot tasks. Furthermore, the development of electric automobiles (EVs) is anticipated to launch brand-new approach for the smart parking market in the near future. EVs provide parking areas due to large battery dimensions, and extensive installation of smart parking to manage parking lots. Moreover, implementation of rigid emission policies is expected to drive the development of the Germany smart parking market. The government's efforts to utilize telematics for administration of car park, on-street vehicle parking, off-street parking, and smart repayment systems are likely to improve the market growth in coming years. Moreover, the smart parking created by the private sector could be supported by the public sector to bring in consumers.

On the basis of type, the German smart parking market is fractional into off-street vehicle parking as well as on-street vehicle parking. On-street parking is one of the most recommended types amongst the consumers due to its benefit and cost-effectiveness. On the other hand, off-street auto parking utilizes the customer a much more protected alternative owing to the presence of auto parking attendants and surveillance systems.

On the basis of technology, the market is bifurcated into Web of Points (IoT), ultrasonic, and RFID. IoT based solutions are one of the most extensively adopted among all due to their cost-performance and easy availability. The ultrasonic and RFID innovations supply more trusted as well as precise auto parking options.

The market is primarily driven by rise in demand for effective and automated parking options from the business sector. In addition, companies such as Vehicle Parking Area and Parkify are significantly investing in the advancement of smart parking, which is anticipated to boost the market development in coming years. Moreover, the government offers subsidies to private companies to promote installment of smart parking services in commercial establishments. The Germany smart parking market is anticipated to be driven in the future, owing to development in technology and knowledge & awareness among consumers the accessibility of smart parking services.

In addition, solutions such as self-governing automobiles and automated valet vehicle parking are most likely to pass through the market in the future and transform the general auto parking experience. In addition, the advancement of connected cars and lorries is likely to make it possible to find and schedule vehicle parking places in real-time, which is expected to drive the market growth. In addition, manufacturers in Germany smart parking market are expected to focus on introducing new advanced products and improve R&D activities to maintain their position as prominent players in competitive market. Moreover, the players need to focus on tapping the untapped markets in the rural areas, as awareness relating to availability and advantages of smart parking solutions is low in these areas. The consumer perceptions concerning smart parking services should be taken into account while deploying services or products in the market.

Key benefits for Stakeholders

The report highlights the market analysis based on current trends and future estimations.

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

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

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

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

Detailed analysis of the Germany smart parking market segmentation assists to determine the prevailing market opportunities.
Additional company profiles with specific to client's interest
Additional country or region analysis- market size and forecast
Expanded list for Company Profiles
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

Bosch
Siemens
Kapsch TrafficCom
Logis Parking Solutions GmbH
Cleverciti
Trust in Parking
Sensible 4
Kwose parking
Park Intelligence
Park IT Solutions GmbH

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