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The Asia Pacific Smart Parking Market would witness market growth of 12.5% CAGR during the forecast period (2018 - 2024). Smart parking is a concept that can bring about major changes in the current traffic congestion situation and inadequate parking options. With the latest policies geared towards curtailing new car parking spaces, and with no new plans of building multi-story car parks, the demand for smart parking is growing significantly. The use of technology in recent years has accelerated the domain of parking transportation segment.
Technology has made parking highly efficient, precise, and easier to manage. Based on the technology type, the Smart Parking market is segmented into RFID, Ultrasonic and Others. Based on the End User, the market is segmented into Government and Commercial. The Applications highlighted in this report include Security & Surveillance, Smart Payment System, License Plate Recognition and Others.
Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific. The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Smart Parking Ltd., IEM SA, Amano Corporation (Amano Mcgann, Inc.), Urbiotica S.L., IPS Group Inc., Klaus Multiparking Systems, Swarco AG, and Dongyang PC, Inc.