|By PR Newswire||
|January 6, 2014 01:43 PM EST||
LONDON, Jan. 6, 2014 /PRNewswire/ -- Reportbuyer.com just published a new market research report:
Smart Parking, Aided by Real-time Parking Information and Technology to be Future of Parking
The aim of this research service is to provide a strategic overview of the parking industry and its stakeholders in Europe and North America. The study analyses the key operational strategies of parking operators, parking app providers, automakers and their implications on mobility integration. An attempt has been made to understand the major parking operators' and parking app providers' operational business models in Europe and North America. The study also entails the major parking technologies used in the area of ticketing, vehicle number plate recognition, and parking space availability. It draws a comparison of the conventional and modern parking industry, which is now considered as a significant entity of mobility in cities.
Executive Summary—Key Findings
1. Early stage growth opportunities will attract X new start-ups in the parking industry providing real-time parking applications with investments ranging from $X to $X million in the next X toX years.
2. More than X global automotive original equipment manufacturers (OEMs) are expected to be associated in strategic alliances by 2020 via partnerships with parking operators, app providers, standalone, via car sharing, or all of the above.
3. The parking industry is expected to be more connected and integrated with trends and technologies such as M2M (Machine-to-Machine), IoT (Internet of Things), LBS (Location-Based Services), cloud-based services, and mobile-based applications.
4. The automotive industry is expected to congregate and include real-time parking information assistance along with in-vehicle communications, telematics, navigation, and infotainment services.
5. Over the next decade, the majority of parking lot navigation and transactions will migrate toward the smartphone or autonomous in-car meter, slowly relieving the city streets of expensive and costly payment machines.
6. The future parking industry will have the proliferation of services hosted on cloud computing, mobile, personal, local, and social media. Smart parking initiatives will be enhanced with street-level-to-cloud network and data analysis applications.
7. The US parking industry grosses $X to $Xbillion annually and provides a minimum of three parking spaces to each car it has on road. Meanwhile the parking industry turnover of public parking spaces in Western Europe (EU-15) is estimated at over € billion a year, providing a minimum of one parking space for each car.
8. By 2020, it is expected that nearly Xmillion parking spaces will deliver real-time parking information with the help of sensors. Technology start-ups installed sensors for of San Francisco's meters (SFpark project) and parking spots on downtown Los Angeles' streets (LA Express Park).
9. The five largest private parking companies in Europe operate almost X million parking spaces with an annual revenue of € billion.
10. Germany, among the European markets, is expected to be the leader in parking management in terms of number of participants, flexibility of operations, and innovations in parking, followed by the United Kingdom and France by 2020.
11. European cities are on the verge of reducing parking spaces while freeing up city space to relieve congestion and apply effective motivation to use public transport. Cities such as Paris, London, Amsterdam, Zurich, and Stockholm are working on smart strategies to free up city space by installing bollards* and adopting smart parking initiatives.
12. Telecom and IT companies are entering the parking industry with smart sensor-based solutions, information management, and advanced analytics.
13. The top five states in the United States with parking facilities—California, New York, Texas, Florida, and Illinois—generate more thanX% of the revenue, and constitute X% of the parking facilities in the United States.
14. European cities are leading the world in using parking as a tool to revitalise their cities, while the US parking industry has seen a lower level of innovation to catch up to Europe's use of technology.
Evolution of the Parking Industry
Parking facilities are going green and smart, and are experiencing an explosion of new parking applications for smart phones and mobile devices and moving away from cash payments to ePayment.
Parking Management: Parking Industry Evolution, Europe and North America, 1990–2015
1990s - Manually operated parking industry
2000 - Significant level of automation
Automated Parking Systems
License Plate Recognition
EV Charging Facilities
Technologies – RFID, CCTV
2010 - Integration of Web-based services and new technologies
Centralised Network Management Systems
Mobile Payment Technology
Beyond 2015 - Smart parking, consolidation of services
Cloud-based services, pay-by-text, pay-by-voice, pay-by-phone
Mobile apps for payment and reservation
In-vehicle parking reservation
Wireless Sensor Integration
Executive Summary—Key Findings and Future Outlook
Parking Management: Key Findings and Future Outlook, Europe and North America, 2013–2020
5 key global automotive OEMs have invested or shown interest in the parking industry in different spheres of integration—in parking apps, parking garages, or infrastructure providers—and have expanded their portfolios.
At least X to Xautomotive OEMs are expected to venture into the parking industry and exhibit a higher level on integration.
A trend in the parking industry is connectivity and accessibility. The major parking operators in Europe and the United States are associating with real-time parking information providers to help customers in locating parking garages, the cost and availability of vacant spaces, and reservation of space.
Parking to be more integrated and involve participants from automotive, communication, infrastructure, and technology providers, all working together. Parking will be a hot spot for mobility in cities and a dependable revenue generation model.
The US parking industry grosses $X–$X billion annually for the X million registered US passenger vehicles and adds X% to carbon dioxide emissions. The parking spaces total 160 billion square feet of concrete and asphalt.
A number— or more—of potential private-public joint initiatives such as SFpark, ParkIndy, and LA Express Park™ have helped the removal and recycling of unused parking lots and garages. Smart, real-time parking to be the future.
The present day parking industry is engrossed with automation solutions and basic level software implications for parking reservations and payments.
Future trends will have the inclusion of adapted technologies from the communications and IT industry, such as M2M (machine-to-machine), IoT (Internet of Things), LBS (location-based Services), cloud-based services, and mobile-based applications which will integrate and work together.
Overview—Parking Ticket Technologies
The trend for parking reservations is going online and is also assisted by mobile-based bookings, which is a value-addition to the conventional ticket technologies.
Technologies used for Parking Tickets
RFID (Radio-frequency identification) windshield key tags: The state-of-the-art access solution is easy to operate and environmentally-friendly key tags are easy to mount and are PVC (polyvinyl chloride) free.
Pay-by-phone (sms): Used by Impark and LAZ parking companies with a Wireless Suite.
NFC (Near-field Communication) Cell phone as a ticket: Paperless tickets to the marketplace. Simple ticket to long-term parking pass, e.g., Mobile Parking Tickets in Vienna.
Pay-by-plate Parking (Automatic Number Plate Recognition): The Calgary Parking Authority uses a pay-by-plate system assisted with highly sophisticated cameras.
Using Smart Card, such as P-card from Contipark: Ticketless parking and can be monitored online with convenience.
Using Mobile app: APCOA uses mobile app to pay for its parking usage.
Key Questions this Study will Answer
• What is the business environment of the parking industry, the dynamics, and other related industries?
• Who are the key parking operators in Europe and North America? What is their approach and operational business model?
• What are the key trends in the current and future parking industry? What levels of modernisation and innovation does the parking industry exhibit?
• What are the challenges in parking management and how is the industry working with city councils, governments, automakers, and infrastructure providers to deliver the best services?
• Who are the new participants in the parking industry and what is the level of convergence?
• How are automotive OEMs integrating parking into the vehicle and what is the level of integration?
Table of Contents
1. Executive Summary
2. Research Scope, Objectives, Methodology, and Background
3. Definitions and Segmentation
4. Overview of the Parking Industry
5. Megatrends and Industry Convergence Implications
6. European Parking Industry
• Parking Industry Structure and Value Chain
• Parking Industry Trends, Case Studies, and Business Models
• Case Studies of Traditional Parking Companies
7. North American Parking Industry
• Parking Industry Structure and Value Chain
• Parking Industry Trends, Case Studies, and Business Models
• Case Studies of Traditional Parking Companies
8. Future Trends in the Parking Industry
9. Business Models—Parking Industry
10. Conclusions and Future Outlook
Read the full report:
Future of Vehicle Parking Management Systems in North America and Europe
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