Intelligent mobility and smart parking operations to reach $43 billion USD in 2025

Smart parking

As defined by the Transport Systems Catapult, one of Innovate UK’s seven elite technology and innovation centres, intelligent mobility is a “smarter approach to journeys”. Intelligent mobility therefore encompasses everything from self-drive cars to peer-to-peer parking as well as multi-modal modelling software.

Recent analysis from Frost & Sullivan, a global consulting firm based in the US, has found that market earned revenues in intelligent mobility and  smart parking reached over $7 billion USD in 2014 and is expected to continue its acceleration year on year to arrive at over $43 billion USD in 2025.

Real-time smart parking and navigable parking lots will proliferate into the European and North American markets and become future trends in parking, along with autonomous parking services for cars,” reported Neelam Barus, Automotive & Transportation Industry Analyst at Frost & Sullivan. “Numerous smart multi-space and wireless parking meters will deliver real-time parking information with the help of sensors to motorists and parking operators, simplifying parking operations and business.

For an in-depth overview of the research, please click here:

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