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Market analysis

Recently, an institutional survey found that in urban areas, nearly 30% of traffic congestion originated from drivers looking for parking spaces.

It is said that by 2020, there will be 2 billion cars running on the road, which means that the number of cars will be several hundred million more than the current.

Combining the above two points, we can predict how busy the transportation system will be by 2020. It is a big challenge to find a suitable parking space! Thus, in this context, smart parking came into being.

Smart parking has become a vertical area that cannot be ignored in the Internet of Things, and is also an important part of creating a smart city. According to a recent report, the global smart parking industry will break the $26 billion mark, and the compound growth rate of the market will reach about 18%. Mobile payments will also increase significantly in this area.

In this smart parking industry, on the one hand, people are more and more empathetic to urban parking difficulties; on the other hand, competition in the commercial field is becoming increasingly fierce, from the Internet to the Internet of Things, from offline to online, the war is spreading. Parking is considered to be a low-frequency offline scene, with a long tail effect and an entry value. Therefore, the parking industry has received unprecedented attention. A large amount of capital is pouring into this industry, and the parking industry is showing a thriving scene. From the perspective of traffic, parking needs to be guided by science and technology, and the parking lot cannot be an information island because of geographical separation. While parking in the city is difficult, the use of parking resources is inefficient and coexisting. How to open the parking lot information island, form a parking platform and realize the sharing of parking spaces is a challenge and an opportunity.

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