Smart Parking System Chipset Market size is estimated to be USD 1.2 Billion in 2024 and is expected to reach USD 3.5 Billion by 2033 at a CAGR of 12.5% from 2026 to 2033.
The global Smart Parking System Chipset Market was valued at approximately USD 1.45 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 17.2% from 2023 to 2030. This rapid growth is driven by rising urban congestion, increasing adoption of IoT in mobility solutions, and the global push for smarter city infrastructure. Chipsets used in smart parking systems enable real time vehicle detection, space monitoring, and data processing, enhancing the efficiency of parking management. The expansion of electric vehicle (EV) infrastructure and integration of AI based features in parking management systems are also fueling demand for advanced chipsets, contributing to market expansion.
Regionally, North America dominated the market in 2022, accounting for over 35% of the global revenue share, owing to the early adoption of smart city initiatives and strong investments in connected vehicle technology. Europe followed with a share of approximately 28%, supported by strict regulations on urban mobility and strong emphasis on environmental sustainability. The Asia Pacific region is projected to exhibit the fastest CAGR of over 19% during the forecast period, fueled by growing urban populations, rapid industrialization, and infrastructure development in countries like China, India, and South Korea. Opportunities are emerging in the Middle East & Africa and Latin America due to increasing awareness and deployment of smart urban technologies. Advancements in 5G connectivity, AI powered sensors, and low power wide area network (LPWAN) technologies offer strong future potential for chipset developers and solution integrators across these regions.
Get | Download Sample Copy with TOC, Graphs & List of Figures @ http://verifiedmarketreports.com/download-sample/?rid=291700&utm_source=Google_Site&utm_medium=226
Â
Huawei Technologies
Ericsson
Vodafone
Qualcomm Incorporated
Intel
Mistbase Communication System
Samsung Electronics
Verizon Communications
Nokia
U-Blox Holding
Commsolid
Sequans Communications
Nordic Semiconductor
Altair Semiconductor
Cheerzing
Sercomm
SIMCom
Sierra Wireless
U-blox
ZTE
RDA
MediaTek
Â
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
Get Discount On The Purchase Of This Report @ https://www.verifiedmarketreports.com/ask-for-discount/?rid=291700&utm_source=Google_Site&utm_medium=226
Growing demand for below applications around the world has had a direct impact on the growth of the Global Smart Parking System Chipset Market
RFID (Radio Frequency Identification)
Infrared Sensors
Ultrasonic Sensors
Camera-Based Systems
Mobile Application Integration
Embedded Chipsets
Standalone Chipsets
Hybrid Chipsets
IoT-enabled Chipsets
Smart Controllers
Wired Connectivity
Wireless Connectivity
Bluetooth-enabled Systems
Wi-Fi-based Systems
Cellular Networks
Commercial Parking Lots
Municipal Parking Areas
Residential Parking Solutions
Smart City Initiatives
Airports and Transportation Hubs
Municipal Bodies
Private Parking Operators
Retail and Shopping Malls
Hospitality Sector
Transport and Logistics Companies
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
For More Information or Query, Visit @ https://www.verifiedmarketreports.com/product/smart-parking-system-chipset-market/
1. Introduction of the Global Smart Parking System Chipset Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Smart Parking System Chipset Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Smart Parking System Chipset Market, By Type
6. Global Smart Parking System Chipset Market, By Application
7. Global Smart Parking System Chipset Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Smart Parking System Chipset Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
About Us: Verified Market Reports
Verified Market Reports is a leading Research and Consulting firm servicing over 5000+ US clients. We provide advanced analytical research solutions while offering information-enriched research studies. We also offer insights into strategic and growth analyses and data necessary to achieve corporate goals and critical revenue decisions.
Our 250 Analysts and SMEs offer a high level of expertise in data collection and governance using industrial techniques to collect and analyze data on more than 25,000 high-impact and niche markets. Our analysts are trained to combine modern data collection techniques, superior research methodology, expertise, and years of collective experience to produce informative and accurate research.
Contact us:
Mr. Edwyne Fernandes
US: +1 (650)-781-4080
US Toll-Free: +1 (800)-782-1768
Website: https://www.verifiedmarketreports.com/