A smart space is a physical or digital environment in which humans and technology-enabled systems interact in increasingly open, connected, coordinated and intelligent ecosystems. It provides an environment which is equipped with audio sensing and visual systems that can react to the people without requiring them to wear any special equipment’s.
The global smart fleet management market was valued at $276.56 billion in 2017, and is projected to reach $537.53 billion by 2025, registering a CAGR of 8.9% from 2018 to 2025. In 2017, Asia-Pacific accounted for the highest share in the global smart fleet management market.
Smart parking is an intelligent parking system that assists driver for safe parking. Available space in parking slot is indicted by sign or symbol with the help of embedded software and sensors. The vacant space is notified to the driver correctly due to the proper management of vehicle.