According to the new Market Research Report “Global Parking Reservation Systems Market by Type (On-street, Off-street), by Solution (Web-based, Mobile Application-based, Voice Call-based), by Vertical, by Geography (North America, Europe, Asia-Pacific, Middle-East & Africa, Latin America) - Analysis and Forecast to 2019”, this market is estimated to grow from $500.8 million in 2014 to $1,292.6 million by 2019, at a Compound Annual Growth Rate (CAGR) of 20.9% from 2014 to 2019.
Browse through the TOC of Global Parking Reservation Systems Market for an in-depth analysis of the industry trends and segments, with help of various tables and figures.
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Global parking reservation systems market report defines and segments the parking reservation systems market globally with analysis and forecast of revenue. Key players in this market include Business Machines Corporation (IBM), Garmin, NOVATEL WIRELESS, INC., The Raytheon, Oracle Corporation, Google Inc., Samsung SDS Co., Ltd., Xerox Corporation, KVH industries, Kapsch TrafficCom AG and Siemens Traffic Solutions.
Parking reservation systems streamline the entire parking process, comprising parking payments that is buying tickets or using prepaid cards to park the vehicles within the timeline, maintaining a comprehensive record of vehicles parked on a monthly basis or providing receipts on a daily basis with the use of self-operating machine, and ensuring round the clock security for parked vehicles. Besides, problems such as finding secure parking slots, traffic congestion will now be resolved with the systems.
Some of the main drivers of the market are rise in the number of vehicles, availability of real-time information with guidance to park, and the awareness regarding smart parking projects.
This system has been integrated into several sectors such as transportation transits, retail, government & municipalities, healthcare and education, shopping centers, and hotels.
The parking reservation system report covers web-based, mobile application-based, and voice call-based solutions. This report includes market share, value chain analyses, and market metrics such as drivers and restraints.
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