Parking Access Control equipment such as swing & sliding gates, garage doors, industrial doors, pay stations, validators and encoding stations, sensors, cameras, and display boards are used to permit access to parking lots and generate revenues.
Market Dynamics:
RFID readers, RFID labels, computers, barriers, and software are the main product types of RFID technology. This technology is used to monitor and control various reports and operations of the parking system. The main purpose of RFID technology for parking system is to reduce the workload and maintain record of the vehicles by enabling simpler solutions to the problems encountered in the parking lots. Further, the rising number of smart city projects and urbanization supports by various countries government bodies is increasing the demand of urabn parking facility system. For instance, In May, 2021, the National Development and Reform Commission of the PRC issued the Opinions on Promoting the Development of Urban Parking Facilities, which stated that by 2025, large, medium and small cities across the country will have basically built urban parking systems, with dedicated parking facilities, off-street public parking facilities and on-street parking spaces.
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