Top 30 Companies Advancing Smart Mobility Through Intelligent Parking (2024–2035): Market Growth and Demand
RELEASE DATE: Jul 2025 Author: Spherical InsightsRequest Free Sample Speak to Analyst
Description
According to a research report published by Spherical Insights & Consulting, the Global Smart Parking System Market Size is expected to grow from USD 7.85 billion in 2024 to USD 47.12 billion by 2035, at a CAGR of 17.69% during the forecast period 2025-2035. The industry is developing as a result of increased government spending on smart city initiatives and initiatives to reduce traffic. Additionally, the growing popularity of smart automobiles and continuous technical developments are expected to fuel the market's future expansion.
Introduction
The market for smart parking systems provides advanced systems and solutions that use integrated technologies to assist drivers in parking their cars as safely as possible. Signs or signals are used to indicate the availability of parking spaces, which are identified using sensors and algorithms. For the algorithm to precisely identify open spaces, well-maintained cars are necessary. Various kinds of sensors are used as hardware parts to determine whether or not cars are parked in spaces. Providing real-time parking space availability data lowers the possibility of other vehicles vying for the same spot.
The transportation ecosystem can greatly benefit from the widespread adoption of smart parking technologies, which can efficiently manage recurring parking issues. These technologies allow users to keep an eye on the availability of parking spots by combining systems with reasonably priced sensors, real-time data analysis, and clever mobile applications. By integrating cellphones with car software, drivers can easily find parking spots while they're on the go, greatly reducing the amount of time they would otherwise need to spend looking for open spots.
Key Market Drivers and Technological Advancements:
AI and Edge Computing Revolutionize Smart Parking Systems
The growing desire for optimal space usage, rising car ownership, and the expanding need for urban mobility solutions are all driving the rapid expansion of the global smart parking system market. Technological developments in edge computing, smart parking system (AI), and the Internet of Things (IoT) are changing how cities handle traffic, cut carbon emissions, and enhance customer ease. Adoption is also being accelerated by government programs supporting smart city infrastructure and congestion control.
For Instance, in June 2024, AMD revealed that Sun Singapore Systems Pte. Ltd., the biggest supplier of smart parking solutions in Singapore, is implementing a new AI-powered smart parking system that is driven by AMD ZynqTM UltraScale+TM MPSoC processors. In addition to enabling cutting-edge features like lane congestion identification, parking place vacancy detection, accident detection, and parking infraction enforcement, the clever approach increases the accuracy of vehicle license plate recognition.
FPGA-based AMD Zynq UltraScale+ MPSoCs power PlanetSpark's EdgeAI Box X7, which is used in Sun Singapore's new AI-based smart parking system. For precise license plate reading, Aupera Technologies also contributed to the design and development of FPGA firmware and AI vision technologies. The end result offers real-time AI inferencing at the edge, reduced latency, and energy efficiency. FPGAs offer the extended lifespan that edge devices require, along with the hardware adaptability to change with AI models, algorithms, and standards.
Smart Parking System Market Size & Statistics
- The market for smart parking system was estimated to be worth USD 7.85 billion in 2024.
- The market is going to expand at a CAGR of 17.69% between 2025 and 2035.
- The Global Smart Parking System Market is anticipated to reach USD 47.12 billion by 2035.
- North America is expected to grow the fastest during the forecast period.
- Asia Pacific is expected to generate the highest demand during the forecast period.
Regional growth and demand
The Asia-Pacific (APAC) region currently leads the global demand for the smart parking system market.
This increase is explained by regional governments' increased emphasis on improving parking control, cutting down on air pollution, and easing traffic jams. In China, there is a noticeable need for effective vehicle parking management systems, particularly within corporate premises, because parking spaces are scarce in highly populated cities. Additionally, the market for smart parking in Japan is expanding quickly because of factors such as growing car ownership, urban space constraints, and the need for automated, contactless solutions. Robotics and AI in parking systems are also being adopted due to labor shortages and supportive smart city regulations. The Japan smart parking systems market was valued at USD 201.36 million in 2022 and is projected to reach USD 998.4 million by 2032, growing at a CAGR of 17.3%. In keeping with this, Mitsubishi Heavy Industries Machinery Systems (MHI-MS) created a self-sufficient robot for transporting and parking automobiles. At its site in Japan, trial operations and endurance testing have begun.
North America continues to lead the global smart parking system market, driven by several important reasons. The growing number of vehicles is driving the region's expansion. North American consumers have adopted smartphones and other gadgets that allow mobile applications, making it easier to do things like make reservations, pay for them, and check the availability of parking spaces. Developing parking solutions using analytics also helps the sector expand. For instance, in February 2024, Eleven-x, a Canadian IoT firm, was selected to install one of the biggest municipal smart parking systems in North America in Arlington County, Virginia. By using wireless technology to monitor and deliver real-time data on parking spot availability, the project seeks to improve parking efficiency and convenience for both locals and visitors. This should make it easier for vehicles to locate parking, improve enforcement, and swiftly ease traffic.
Top 30 Companies Leading the Smart Parking System Market
- CityZ
- Parqour
- Papp Mobility
- MyParkings
- Cocoparks
- Altiux Innovations
- Amano McGann, Inc.
- Amco S.A.
- MW AG (ParkNow GmbH, Parkmobile LLC)
- Cisco Systems, Inc.
- CivicSmart, Inc.
- Deteq Solutions
- Flowbird techno
- INDECT Electronics & Distribution GmbH
- Kapsch TrafficCom
- Libelium Comunicaciones Distribuidas S.L.
- Meter Feeder, Inc.
- Mindteck
- Municipal Parking Services, Inc.
- Nedap N.V.
- Park Assist
- ParkHelp Technologies
- ParkJockey
- ParkMe Inc.
- Robert Bosch GmbH
- Siemens AG
- SKIDATA AG
- Smart Parking Ltd.
- SpotHero, Inc.
- Swarco AG
1. CityZ
Headquarter - Italy
CityZ uses smart parking technologies to improve parking management and urban mobility. It detects parking status in real time by using patented ultra-thin sensors that are applied to road surfaces using a unique adhesive substance. LoRaWan transceivers and gateways are used by the system to send this data to CityZ's server. Real-time parking space occupancy monitoring is made possible by this interface with CityZ's platform. Applications for urban transportation, parking management systems, and municipalities can all be easily integrated with the technology because of its standardized APIs. This encourages the creation of solutions for mobility as a service (MaaS). This method is used by municipalities, drivers, and urban planners to increase parking efficiency and lessen traffic.
2. Parqour
Headquarters - United Kingdom
Parqour provides a parking management software platform that improves customer satisfaction and operational effectiveness. Automated license plate recognition and real-time data capabilities make it easier for drivers to enter and exit. Additionally, Parqour provides contactless payment options. By enabling real-time occupancy tracking, revenue monitoring, and utilization analytics, the platform provides parking operators with insightful information. Additionally, it has tools for permit administration and validation to guarantee authorized cars have easy access. Strong oversight is provided via the platform's round-the-clock remote-control system, which enhances security and operational transparency. Because its hardware solutions don't require any upfront charges, the company helps its clients save capital expenditures. Parking area management is further optimized by the platform's zoning and violation detection features.
3. Papp Mobility
Headquarters - Denmark
Papp Mobility uses Internet of Things sensors and data connectivity to deliver parking analytics via the Papp Insights platform. The platform provides precise statistics on occupancy rates, usage patterns, and parking trends, which help city planners and companies make decisions. The Papp Mobility App improves user convenience by providing real-time availability information for parking spots, EV charging stations, and accessible spaces. The software also increases productivity for local businesses by incorporating capabilities for monitoring and managing designated business parking spaces. Papp's Charging Optimization system avoids misuse by ensuring that EV charging stations are used efficiently. The system allows for the integration of existing parking data, resulting in a uniform view for operators.
4. MyParkings
Headquarters - India
MyParkings provides smart parking solutions that use technology such as QR codes and FasTag integration for easy car parking. Users can book and check in for parking slots using the MyParkings app. It uses automatic number plate recognition (ANPR) to improve parking enforcement and accurate vehicle tracking. The software encourages paperless transactions with receipts transmitted over WhatsApp by including point-of-sale (POS) terminals for digital management. It provides users with advance booking functionality and a dedicated wallet for processing payments and refunds. Its clever QR code system provides fast parking entry with a simple scan. The platform is hardware-free and requires no maintenance, making it ideal for municipalities, smart cities, corporate parks, and huge event sites. The company also offers an easy-to-use web dashboard with analytics for monitoring and managing parking spaces in real time.
5. Cocoparks
Headquarters - France
Cocoparks creates a comprehensive solution for intelligent mobility and parking management, leveraging AI to improve urban mobility. Its platform offers 360° parking control, which includes real-time on-site guiding, analytical steering, and control support. Cocoparks technology generates and manages parking data using proprietary technology and current infrastructure, providing real-time services to users and managers. The platform improves safety and efficiency in a variety of sectors, including healthcare facilities, school and university campuses, airports, and shopping centers. The company promotes collaboration with existing technologies by interacting with a variety of APIs.
Are you ready to discover more about all the new smart parking solutions?
The report provides an in-depth analysis of the leading companies operating in the global smart parking systems market. It includes a comparative assessment based on their product portfolios, business overviews, geographical footprint, strategic initiatives, market segment share, and SWOT analysis. Each company is profiled using a standardized format that includes:
Company Profiles
- CityZ
Business Overview
Company Snapshot
Products Overview
Company Market Share Analysis
Company Coverage Portfolio
Financial Analysis
Recent Developments
Merger and Acquisitions
SWOT Analysis
- Parqour
- Papp Mobility
- Cocoparks
- Altiux Innovations
- Amano McGann, Inc.
- Amco S.A.
- MW AG (ParkNow GmbH, Parkmobile LLC)
- Cisco Systems, Inc.
- CivicSmart, Inc.
Conclusion
Smart parking systems are quickly changing urban mobility by providing efficient, automated, and user-friendly solutions. Driven by technological breakthroughs and mounting urban difficulties, these systems are emerging as critical components of smart city infrastructure. With increased regional adoption and ongoing innovation by top businesses, the smart parking market is poised to play a critical role in determining the future of transportation and urban development.
About the Spherical Insights & Consulting
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