India Parking Systems Market Growth, Share, Trends Analysis, Business Opportunities and Forecast 2030: Markntel Advisors

Market Insights

As per recent research by MarkNtel Advisors, The India Parking Systems Market size was valued at around USD 655.21 million in 2023 and is projected to reach around USD 832.05 million by 2030. Along with this, the market is estimated to grow at a CAGR of around 3.6% during the forecast period, i.e., 2024-30

India Parking Systems Market Driver:

Population Growth & Rapid Urbanization Driving Market Growth – The growing population and rapid urbanization are the key elements thrusting the growth of the Parking Systems Market in India. India's cities are developing and attracting more individuals, which has augmented the demand for well-planned and powerful parking solutions. Increasing urban populations results in a higher number of vehicles, which exacerbates traffic congestion and makes it difficult for individuals to discover appropriate parking spots. As a result, there may be an increasing demand for parking systems in the country which requires the development and deployment of state-of-the-art technologies in the parking systems to successfully make use of the limited available parking spaces.

Modern parking systems are essential for maximizing parking space usage, lowering traffic, and improving the entire urban mobility experience. They are outfitted with technology like smart sensors, automated ticketing, and mobile payment alternatives. The Indian government's emphasis on smart city projects is propelling the adoption of innovative parking solutions even faster, with growing urbanization and increasing populations emerging as key factors driving the market revenue growth.

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Market Segmentation and Consumer Behavior:

By Type

Shuttle Parking System- Market Size & Forecast 2019-2030, USD Million
Puzzle Parking System- Market Size & Forecast 2019-2030, USD Million
Rotary Parking System- Market Size & Forecast 2019-2030, USD Million
Stacker Parking System- Market Size & Forecast 2019-2030, USD Million
Automated Guided Vehicle Parking System- Market Size & Forecast 2019-2030, USD Million
Rail Guided Parking System- Market Size & Forecast 2019-2030, USD Million
Crane Parking System- Market Size & Forecast 2019-2030, USD Million
Silo Parking System- Market Size & Forecast 2019-2030, USD Million
Tower Parking System- Market Size & Forecast 2019-2030, USD Million
Others- Market Size & Forecast 2019-2030, USD Million

By Parking Type

On-Street Parking- Market Size & Forecast 2019-2030, USD Million
Off-Street Parking- Market Size & Forecast 2019-2030, USD Million

By Component

Hardware- Market Size & Forecast 2019-2030, USD Million

Camera- Market Size & Forecast 2019-2030, USD Million
Motors- Market Size & Forecast 2019-2030, USD Million
Raw Steel- Market Size & Forecast 2019-2030, USD Million
Sensors- Market Size & Forecast 2019-2030, USD Million
Electrical Panels- Market Size & Forecast 2019-2030, USD Million
Electrical Boxes- Market Size & Forecast 2019-2030, USD Million
Wireless Radios- Market Size & Forecast 2019-2030, USD Million
Fire Alarms/ Audio Alarms- Market Size & Forecast 2019-2030, USD Million
LCD Display- Market Size & Forecast 2019-2030, USD Million
Others- Market Size & Forecast 2019-2030, USD Million

Software

Parking Guidance System- Market Size & Forecast 2019-2030, USD Million
Analytics Solutions- Market Size & Forecast 2019-2030, USD Million

By System

Fully Automated System- Market Size & Forecast 2019-2030, USD Million
Semi-Automated System- Market Size & Forecast 2019-2030, USD Million

By End Users

Residential- Market Size & Forecast 2019-2030, USD Million
Commercial- Market Size & Forecast 2019-2030, USD Million

Shopping Malls- Market Size & Forecast 2019-2030, USD Million
Office Buildings- Market Size & Forecast 2019-2030, USD Million
Hospitals- Market Size & Forecast 2019-2030, USD Million
Public Car Parks- Market Size & Forecast 2019-2030, USD Million

Others- Market Size & Forecast 2019-2030, USD Million

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India Parking Systems Market Geographical Analysis:

By Region:

North
South
East
West
North East

Key Players and Competitive Strategies in the India Parking Systems Market

Several prominent players dominate the India Parking Systems Market, including:

Park+
RR Parkon
KLAUS Multiparking
i-stron Car Parking Systems
Parklayer Private Limited
Wohr Parking System Pvt. Ltd.
Get My Parking
Secure Parking
Honesty Automation Private Limited
Expert Parking Systems

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Questions Addressed in this Study

1.What factors are driving the India Parking Systems Market growth?

2.How is the India Parking Systems Market expected to grow over the next five years?

3.What are the key insights into the current trends in the India Parking Systems Market?

4.What is the current size of the India Parking Systems Market, and how is it projected to change in the future?

6.What is the future outlook for the India Parking Systems Market in terms of technological advancements and market expansion?

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MarkNtel Advisors is a leading research, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.

Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.