Global Car Parking System Market Forecast to 2026

THANE, India - Aug. 13, 2019 - PRLog -- Global Car Parking System Market valued approximately USD 2.51 Billion in 2018 is anticipated to grow with a healthy growth rate of more than 4.18% over the forecast period 2019-2026. The market growth is primarily driven by increasing use of cars across the globe, growing parking concern and issues such as land utilization and improper parking management in the overcrowded cities. Additionally, increasing use of advanced analytics in development of smart sensors for smart parking system boosted the demand for car parking system across the globe. However, high implementation cost and complexity in configuration hamper the market growth.

The study has been conducted in order to obtain and cater the recent and ongoing trends which can be beneficial for the clients/End-Users which are involved in the market. we have also categorized the report into various segments which can be used to understand the market condition w.r.t. to upcoming opportunity over the coming years. The opportunities has been shown as the higher CAGR segments. The CAGR is in fact calculated as the growth of that particular segment from 2019 to 2026 considering the base years as 2017/2018. Further, significant backup information related to all the growth rates has been provided in the report with sources so that client/End-Users can understand and trust the information provided in the report.

The Global Car Parking System Market is anticipated to grow at 4.18% CAGR over the forecast period 2019-2026. In order to deduce the market estimates & forecast values over the forecast period, we place different data points, numeric attributes, information and industry trends at an appropriate space We own a proprietary tool for market estimations which helps us to comprehend market size estimates & forecasts for different markets and industries. The total market value has calculated evaluated using two approach simultaneously namely top-down and bottom-up approaches.

In the top-down approach, the total market revenue is calculated by conducting the parent market analysis. For deducing the revenue for Global Car Parking System Market revenue, which was further classified into subsegment markets. Analyst perspective & subject-matter-expert based heuristic form of market sizing also plays an integral role in this step.

For forecasting the current estimates, following parameters are considered:

▪ Market driving trends and favorable economic conditions

▪ Restraints and challenges to be faced over the forecast period

▪ Anticipated opportunities

▪ Technological scenario and projected developments

▪ Consumer spending trends and dynamics

▪ Movements in consumer preference

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