Smart Parking Systems Market to Soar Amid Rapid Urbanization

The Global Smart Parking Systems Market is estimated to be valued at USD 11,432.0 Mn in 2025 and is expected to exhibit a CAGR of 20.6% over the forecast period 2025 to 2032.

Smart parking systems integrate advanced sensors, IoT connectivity, cloud-based analytics, and mobile applications to streamline vehicle parking in urban environments. These systems employ real-time occupancy detection, guidance signage, and automated payment solutions to optimize space utilization, reduce search times, and lower greenhouse gas emissions.

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