Latin America, Middle East & Africa Smart Parking Solutions Market Databank
The Smart Parking Solutions market was valued at $3,584.3 Million in 2019, and is projected to reach $6,275.0 Million by 2028 growing at a CAGR of 7.54% from 2020 to 2028. System Devices segment is expected to be the highest contributor to this market, with $1,474.9 Million in 2019, and is anticipated to reach $2,504.8 Million by 2028, registering a CAGR of 7.17%. Parking Software segment is anticipated to reach $2,206.5 Million by 2028 with the highest CAGR of 8.07%. System Devices and Parking Software segments collectively expected to account for about 74.8% share of the Smart Parking Solutions market in 2019, with the former constituting around 41.1% share. Parking Software and Services segments are expected to witness significant growth rates at a CAGR of 8.07% and 7.40% respectively, during the forecast period. Presently, share of these two segments is estimated to be around 58.9% in the overall Smart Parking Solutions market in 2019, and is anticipated to reach 60.1% by 2028.
The report includes market numbers for all the segments at country level for past, current and coming years. This report provides a comprehensive market information through detailed segmentation along with segmental market size and forecasts, growth rates, market dynamics, structure, it also provides overview on development of the industry, market situation and trends. The report covers a detailed analysis of players and market strategies, a detailed analysis of growth factors that are critical for existing market participants as well as new market players. It provides information on new market opportunities and the future with main drivers and restraints of the market to support the decision in a cost-effective business solution. The report covers a detailed analysis of players and market strategies, a detailed analysis of growth factors that are critical for existing market participants as well as new market players. It provides information on new market opportunities and the future with main drivers and restraints of the market to support the decision in a cost-effective business solution.
For data modelling of market size and forecasting, extensive secondary research is completed in order to gain a good market perspective and conclusion in each segment. Extensive primary research is also conducted by interviewing key industry leaders. These interviews help us fill out the data gaps after secondary research. Several secondary sources, such as encyclopedia, libraries and databases, were used to identify and collect information useful for this comprehensive techno-commercial research. Market experts from entire value chain including manufacturers to individual suppliers were interviewed to obtain and verify important information, as well as to assess the future situation. The use of the information obtained is based on the expected reliability of the research team. Both the bottom-up and top-down approaches are used for validation of the information in the study.
The main sources of data used in this report are company websites, trade unions magazines, news sites, press releases, publications in the media, interaction with industry experts, business leaders, scientific articles, patents, scientific literature, paid and unpaid databases along with expert interviews.
This reports provides qualitative market information wrt market size and forecast, it does not includes any qualitative information.
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