NewEnergyNews: ROBO-PARKING

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    Thursday, May 30, 2013

    ROBO-PARKING

    Smart Parking Systems; Sensor, Communications, and Software Technologies, Smart City Applications, City and Supplier Profiles, Market Analysis, and Forecasts

    2Q 2013 (Navigant Research)

    “…[P]oorly managed parking supply [is 30% of cities traffic congestion,] frustrates drivers, wastes fuel, creates air and noise pollution, and stifles economic activity. Today, the parking industry is going through its biggest transformation since the introduction of the first parking meters in Oklahoma City in 1935. It is being transformed by new technologies that are having an impact on operational efficiency and customer expectation…

    “…[Navigant Research expects to see a major breakthrough over the next 12 to 18 months as smart parking projects transition from trials and small deployments to large-scale rollouts, a broader range of pilots, and expansion into new countries and regions…The global market for smart parking systems in 2013 is expected to be worth $60.0 million…”

    “Navigant Research projects annual revenue will grow to $356.5 million by 2020, representing a compound annual growth rate (CAGR) of 29.0%. On a cumulative basis, the market will reach $1.6 billion between 2013 and 2020. During this period, the smart parking systems market will rapidly transition from the pilot stage to being an accepted technology for city management.]

    “Faced with growing environmental and economic pressures on city transportation, cities are reexamining how and where parking is provided…Enabled by new technologies, innovative approaches to parking are becoming one of the cornerstones of cities’ mobility strategies. Navigant Research forecasts that the installed base of on-street smart parking spaces will surpass 950,000 worldwide by 2020…”

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