Smart Parking Systems Market (By Hardware: Pucks, Cameras & LPRs, Smart Meters, Signage, Parking Gates; By Software: Parking Guidance System, Analytics Solutions, Service Outlook, Consulting Service, Engineering Service, Mobile App Parking Service; By Type, On-street, Off-street, Garage Parking, Lot Parking; By Application, Commercial, Government, Transport Transit) - Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2024-2033
The global smart parking systems market size surpassed USD 7.49 billion in 2023 and is expected to hit around USD 55.62 billion by 2033, growing at a CAGR of 22.20% from 2024 to 2033. The market is expanding due to growing government investments in smart city projects and efforts to alleviate traffic congestion.