• Berg Insight has today unveiled the estimated number of the global installed base of wirelessly connected in-ground and surface-mounted parking sensors, which currently stand at 1.3 million devices.
  • The installed base of smart parking sensors is expected to reach 3.2 million devices in 2028.
  • The top ten vendors of smart parking sensors are mainly located in Europe and North America.

With the actual number (1.3 million) and expected number (3.2 million) of the global installed base of wirelessly connected in-ground and surface-mounted parking sensors, smart parking sensors are expected to become a new darling of the market.

The smart parking sensor providers

Europe and North America are likely to be the biggest markets, which together account for almost half of the installed base. In addition to these two continents, the main market for smart parking sensors includes Australia, New Zealand and the Middle East.

Recently, several leading vendors including Streetline, SmartGains, Nedap and Onesitu have withdrew from the market. The leader has been Frogparking in New Zealand with a global market share (excluding China) of 12.2 percent in Q4-2023.

The top ten vendors together sold almost half the smart parking sensors (excluding China) on the market at the end of 2023. These include CivicSmart (North America), Urbiotica (Europe), Fleximodo (GOSPACE LABS) (Europe), Smart City System (Europe), IoT Solutions Malta (Europe), ParkHelp Technologies (Europe), PNI (North America) and Nwave Technologies (Europe).

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Future of smart parking sensor markets

Berg Insight today announced that by the end of 2023, the global installed base of wirelessly connected in-ground and surface-mounted parking sensors is expected to reach 1.3 million units, excluding China. Based on a compound annual growth rate (CAGR) of 19.8 percent, it is participated that the number of installed smart parking sensors will reach 3.2 million in 2028.

The COVID-19 pandemic brings both disruption and opportunity to the industry. Since the pandemic, remote work has become more prevalent which provides a new opportunity for parking sensors. These can detect enough parking when and where needed especially in private and company segments.

The more consistent and accurate data the parking sensors can provide, meet the requirement of cities’ parking management. And that’s one of the reasons why cities show their increasing interest in parking sensors.

LPWA technologies, catching the off-street parking’s favour of higher demands on network coverage and long-range communication capabilities, are expected to account for the increasing market share in the off-street segment.