Mexico is one of the promising markets for smart parking. Advancements in technology and increase in demands for safety & convenience have led to the growth of the Mexico smart parking market. Various private and public companies have started investing in the market to attract more advanced parking systems to reduce traffic.
The Mexico smart parking market is segmented into type, technology, application, and end user. By type, the market is bifurcated into on-street and off-street. The off-street segment is expected to dominate the market due to the provision of greater area and due to increase in adoption of automated structures. Moreover, for non-public corporations, the investment in off-street parking is extra powerful and gives more flexibility. The internet of things (IoT) era is anticipated to have a substantial growth during the forecast period as compared to ultrasonic and RFID era. In terms of technology, the market is fragmented into IoT, Ultrasonic, and RFID. Further, the security & surveillance segment is anticipated to have a major significance due to surge in need for safe and comfortable parking areas.
The market is largely driven by increase in urbanization and need for efficient traffic management. Furthermore, growth of the automotive industry coupled with rise in population and increased disposable incomes are expected to drive the market. In addition, rise in the need for convenience and safety is expected to boost the market growth. Moreover, increase in investments by the government in the smart parking market and rise in awareness regarding advanced technology are expected to propel the market. Furthermore, rise in focus of private organizations and local government on making their cities smart is providing growth to the market. However, high cost of implementation, operational constraints, lack of standardization, and lack of awareness in rural areas regarding smart parking are expected to hinder the market growth.
Increasing government funding in smart cities initiatives, investments in infrastructure, and public–private partnerships are expected to open new avenues in the market. In addition, technological advancements such as automation, implementation of big data analytics, and integration of AI in parking are likely to create new growth opportunities. Moreover, increase in investments by venture capital firms in startups dealing with parking is expected to drive the market.
The significant players in the market are Streetline, FLO, ParkPlus, Worldline, ParkMobile, ParkMi, Parkopedia, T2 Systems, MobileTicket, and IPS Group. Strategies adopted in the last four years by such companies include product launches, business expansions, mergers and acquisitions, partnerships, investments, and events. Streetline has launched FLO, an intelligent parking system for municipal parking authorities. ParkPlus launched an automated payment and enforcement platform to accelerate the transition to modernization. Worldline introduced a mobile game to simulate car parking and to create a positive environment for safe and rational parking. ParkMobile launched a double-speed pay-per-space system. Parkopedia launched a two-minute online booking and payment system to optimize parking. T2 Systems partnered with real-time analytics platform ParkiT to deploy its intuitive parking management system. MobileTicket partnered with SAP to increase the acceptance of mobile tickets and enable flexible pricing. IPS Group partnered with ParkYourPhone to host an online marketplace to connect drivers with available parking spots.
Smart Parking Corporation offers a range of products and services based on license plate recognition (LPR) technology for automated parking and enforcement. EnPark provides an end-to-end integrated smart parking platform, which combines cloud computing, mobile technology, analytics, and internet of things. Parkizy offers an AI-powered parking solution with predictive and smart algorithms. o smart parking market is expected to witness a growth in the future due to increased investment and technological advancements.
Key Benefits for Stakeholders
The report highlights the market analysis based on current trends and future estimations.
It analyzes the key strategies adopted by major market players in the Mexico smart parking market.
The study assesses and ranks the top factors that are expected to impact the growth of the Mexico smart parking market.
It identifies the top investment pockets in the market.
Top player positioning provides a clear understanding of the present position of market players.
Detailed analysis of the Mexico smart parking market segmentation assists to determine the prevailing market opportunities.
Mexico Smart Parking Market Report Highlights
| Aspects | Details |
 Forecast period | 2022 - 2032 |
 Report Pages | 85 |
 By Type |
|
 By Technology |
|
 By Application |
|
 By End User |
|
 Key Market Players | Worldline, Parkopedia, Streetline, MobileTicket, IPS Group, ParkMi, ParkMobile, T2 Systems, FLO, ParkPlus |
The Mexico Smart Parking Market is estimated to reach $2 billion by 2032
Streetline, FLO, ParkPlus, Worldline, ParkMobile, ParkMi, Parkopedia, T2 Systems, MobileTicket, IPS Group are the leading players in Mexico Smart Parking Market
1. Enable informed decision-making process and offer market analysis based on current market situation and estimated future trends.
2. Analyze the key strategies adopted by major market players in mexico smart parking market.
3. Assess and rank the top factors that are expected to affect the growth of mexico smart parking market.
4. Top Player positioning provides a clear understanding of the present position of market players.
5. Detailed analysis of the mexico smart parking market segmentation assists to determine the prevailing market opportunities.
6. Identify key investment pockets for various offerings in the market.
Mexico Smart Parking Market is classified as by type, by technology, by application, by end user
Loading Table Of Content...
Loading Research Methodology...
