Smart Parking Systems Market Growing Adoption in Smart Cities
The global smart parking systems market size is anticipated to be valued at US$ 9,382.10 Mn in 2025 and projected to grow by US$ 31,051.50 Mn at a CAGR of 18.7% by 2032. Rapid pace of urbanization, rising vehicle ownership, and the growing strain on traditional parking infrastructure drive the demand for advanced smart parking systems globally. Today, various countries are embracing these solutions to tackle traffic congestion, reduce emissions, and improve commuter convenience.