Europe Smart Parking Market 2022 Precise Outlook- Urbiotica, BMW I Ventures, Daimler Mobility, Parkeon S.A, JustPark

The report considers the present scenario of the Europe Smart Parking Market and its dynamics for the forecast period 2022-2026. Europe Smart Parking Market covers a detailed overview of several growth enablers, restraints, and trends in the market. The research report highlights the market’s current and potential key opportunities along with crucial insights.      

The smart parking market in Europe is expected to reach a CAGR of 10.11% during the forecast period (2021-2026). 

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The Europe Smart Parking market is highly competitive and consists of a number of major players. Companies like Urbiotica, BMW I Ventures, Daimler Mobility, Parkeon S.A., Q-Park, JustPark, Cleverciti, The Engineering Group, Indigo Grpup Amongst Others.

Key Developments:

- In June 2020, Urbiotica announced the acquisition of Fastprk, a parking management solution from Worldsensing. The addition of Fastprk completes Urbioticas portfolio of smart parking solutions, strengthening its leadership position in the sector and opening up new opportunities to penetrate new markets due to the complementarity that Fastprks technology offers with its dual detection and LoRa communication protocol.
- In October 2019, Parking application, JustPark raised at least 7.2m in its latest crowdfunding round in its latest round from 5549 investors. The company plans to use the funds to accelerate its core business and expand into new markets.

Key Market Trends:

Technological Advancements and Steady Rise in Vehicles to Boost the Market Growth
- According to the European Automobile Manufacturers Association, in 2019, new-car registrations increased by 1.2% across the EU, reaching more than 15.3 million units in total and marking the sixth consecutive year of growth. The surge in the number of vehicles indicates congestion issues related to parking spaces, which are expected to provide opportunities for smart parking vendors in the region.
- In December 2019, passenger car demand grew by 21.7% in the European Union, marking the highest December total on record to date. An increase in car sales was witnessed in France 27.7% as well as in Sweden 109.3%, due to significant changes to the bonus-malus component of CO2-based taxation for 2020, while the Netherlands (+113.9%) decided to increase tax of electric company cars from 4% to 8% as from January 2020. As a result, all EU countries posted substantial growth rates in December.

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What are the market factors that are explained in the report?

–Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a regional scale.

–Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

–Analytical Tools:  Europe Smart Parking Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.

Finally, Europe Smart Parking Market report is the believable source for gaining the Market research that will exponentially accelerate your business. The report gives the principle locale, economic situations with the item value, benefit, limit, generation, supply, request and Market development rate and figure and so on. This report additionally Present new task SWOT examination, speculation attainability investigation, and venture return investigation.

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