Smart Parking Market Seen Jumping to $88.8B in 2028: Report
Valued at $35.6 billion in 2022, the worldwide market for smart parking technologies is expected to reach $88.8 billion by the end of 2028, ResearchAndMarkets.com said Monday. This reflects a compound annual growth rate of 18.1% from 2023 to 2028.…
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“Government initiatives such as smart cities are expected to result in better traffic and parking management solutions in regions such as Asia-Pacific and Oceana by the end of 2030,” the report said: “The desire for better technology to lessen the impact on the environment in the region is another factor fostering demand for smart parking technologies.”