Technavio has announced the top five leading vendors in their recent smart parking market in Western Europe report until 2020. This research report also lists 32 other prominent vendors that are expected to impact the market during the forecast period.
Increased adoption of smart parking sensors
Smart parking aids in reducing traffic congestions in highly populated areas. Smart parking systems use sensors that are deployed in the center of a parking area. The data gathered from these sensors helps get information regarding the number of standby vehicles and the number of vehicles in the queue to acquire parking space. The data also helps analyze and process traffic flow and notify passengers with relevant alerts. Moreover, smart parking has the tools to improve workforce management and generate revenue by enabling real-time monitoring and control of the available parking space. A two-way M2M communication takes place between smart parking sensors and connected cars. This communication helps reduce parking-related issues.
Competitive vendor landscape
According to the report, the smart parking market in Western Europe is highly fragmented and comprises of various stakeholders such as smart parking solution providers, telecommunications operators, automotive OEMs, and IT and business service providers. In Western Europe, there are many mobile virtual network operators (MVNOs) and mobile virtual network enablers (MVNEs) that provide wireless M2M connectivity services and solutions.
“The smart parking market is evolving and consists of few market players. The market is moderately competitive, but it is expected to witness increasing competition in the forecast period. Vendors are focusing on mergers and acquisitions to strengthen their foothold in the market; they are forming strategic partnerships to enter different geographies and extend their footprint,” says Rajesh Kumar Panda, a lead M2M and connected devices research analyst from Technavio.
In addition, the market is witnessing the entry of many cloud-based software vendors that are competing with traditional vendors in the market. However, the smart parking industry is experiencing a growing trend toward consolidation and outsourcing of parking operations and services.
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IPS Group
The IPS Group and is headquartered in California, US. The group is into engineering and manufacturing and focuses on wireless telecommunications, payment processing systems, Software as a Service (SaaS) management software, and parking technologies.
The group offers products to customers worldwide, especially in the US. It also receives annual certification by the PCI Security Council for Payment Card Industry Data Security Standard (PCI-DSS) and the Payment Application Data Security Standard (PA-DSS).
The IPS Group employs 70 people and has offices in the US and Europe. It has sales offices in Canada and other locations across North America. The group delivers IoT and ITS solutions for transportation and parking operations, globally.
Libelium Comunicaciones Distribuidas
Libelium Comunicaciones Distribuidas was founded in 2006 and is headquartered in Zaragoza, Spain. The company designs and develops wireless sensor network devices for system integrators and engineering and consultancy companies to provide smart city solutions to end-users. It delivers low power consumption devices for smart city solutions and an extensive range of M2M and sensors projects worldwide.
The company offers products in the categories Waspmote, Plug & Sense!, Meshlium, and Cooking Hacks. In addition, it provides face-to-face workshops, custom training courses, custom hardware, and solutions to deploy IoT, M2M, and smart city projects.
Parkeon
Parkeon is in the urban mobility industry and supplies a unique range of parking management solutions and public transport ticketing solutions. The company has offices in France and the UK.
The company has subsidiaries in the UK, Italy, Spain, Australia, Germany, Belgium, the US, and the Netherlands. It provides services to more than 4,000 clients, globally. It has installed approximately 200,000 parking meters in more than 60 countries.
Streetline (Kapsch TrafficCom)
Streetline was established in 2005 and is headquartered in California, US. The company has smart parking deployment centers across the US, Canada, and Europe. It delivers smart data and advanced analytics to resolve parking issues for customers, globally.
Streetline provides real-time and historical parking applications for technology adopters through a portal called ParkSight. It also enables ParkEdge, a platform that allows parking providers to add off-street parking information on both Parker and ParkerMap.
TransCore
TransCore was founded in 1994 and is headquartered in Tennessee, US. It is a leading company in the transportation industry that provides innovative, technical solutions and engineering services used in different applications.
Some of the prominent vendors are:
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