Global Smart Parking Market Set to Surge to USD 33.82 Billion by 2033 with a 17.4% CAGR

The global Smart Parking Market was valued at USD 7.98 billion in 2024 and is projected to reach USD 33.82 billion by 2033, expanding at a robust Compound Annual Growth Rate (CAGR) of 17.4% during the forecast period.
Key Market Highlights
Largest Regional Market: North America holds the dominant share in the global smart parking market and is supported by rapid urbanization and advanced infrastructure adoption.

Fastest-Growing Regional Market: Europe is anticipated to register strong growth over the forecast period with rising smart city initiatives and sustainability mandates.

Leading Segmentation (By System): Guided Park Assist leads due to increasing demand for real-time parking availability systems.

Fastest-Growing Segmentation (By Parking Site): Off-street Parking is projected to grow rapidly on the back of urban private parking infrastructure expansion.