Parking Occupancy Sensing Market Trends 2025-2029: Regional Outlook and Sizing Analysis
The Business Research Company
The Business Research Company's Parking Occupancy Sensing Global Market Report 2025 – Market Size, Trends, And Global Forecast 2025-2034
LONDON, GREATER LONDON, UNITED KINGDOM, December 2, 2025 /EINPresswire.com/ -- Parking Occupancy Sensing Market Growth Forecast: What To Expect By 2025?
The market size for parking occupancy sensing has seen substantial growth in the past years. There will be growth from $3.35 billion in 2024 to $3.85 billion in 2025, with a compound annual growth rate (CAGR) of 15.0%. The historical growth can be linked to the surge in urban population density, increased uptake of smart city infrastructure, rising demand for energy-efficient traffic solutions, increased government spending on smart parking initiatives, and growing consumer preference for smooth parking experiences.
The market for parking occupancy sensing is predicted to witness significant expansion in the forthcoming years, reaching a value of $6.67 billion in 2029 with a compound annual growth rate of 14.7%. The projected growth can be credited to the escalating commitment towards IoT-based parking solutions, the rising combination of AI into parking systems, increased use of mobile payment platforms, growing incorporation of sensor and camera technologies, and a greater focus on decreasing carbon emissions. Key trends during the forecast period include progress in AI-fueled parking analytics, incorporation within smart city infrastructures, advancements in real-time occupancy detection, the cultivation of wireless sensor networks, and progression in automated parking guidance systems.
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What Are Key Factors Driving The Demand In The Global Parking Occupancy Sensing Market?
The growth of the parking occupancy sensing market is forecasted to be driven by the escalating vehicle ownership. Ownership of vehicles refers to the registration and possession of a motor vehicle by an individual or a group. The upward trend in vehicle ownership is fuelled by increasing urbanization as more individuals migrate to cities in pursuit of job opportunities and individual mobility. The parking occupancy detection technology aids in managing scarce parking resources, saving time spent on hunting for parking, and improving city traffic flow. For example, in April 2024, The Society of Motor Manufacturers and Traders (SMMT), an automotive industry representative based in the UK, reported that the total count of vehicles on UK roads peaked at 41.4 million in 2023, stimulated by a 1.6% rise in car ownership, amounting to 35.69 million units. Consequently, the rising vehicle ownership is anticipated to fuel the momentum of the parking occupancy sensing market.
Who Are The Leading Players In The Parking Occupancy Sensing Market?
Major players in the Parking Occupancy Sensing Global Market Report 2025 include:
• Robert Bosch GmbH
• Siemens AG
• SWARCO AG
• Nedap N.V.
• INRIX Inc.
• ParkPlus Inc.
• Haltian Oy
• Smart Parking Limited
• Libelium Comunicaciones Distribuidas S.L.
• Sensit by Nedap
What Are The Key Trends Shaping The Parking Occupancy Sensing Industry?
Key players in the parking occupancy sensing industry are striving towards incorporating advanced technology like smart truck parking availability systems in order to boost logistics efficiency and driver safety. These systems are innovative solutions that employ sensors, the Internet of Things, and real-time data analysis to track, forecast and display available slots for truck parking, leading to increased efficiency and decreased idle time. For instance, Streetline, a U.S.-based smart transport firm, introduced its AI-backed smart truck parking availability platform along the I-10 route in August 2025. This system, equipped with AI cameras for occupancy detection, adjusts space allocation on the fly and is integrated with traffic management systems. Such features enhance the functional performance of freight logistics by reducing driver downtime, facilitating adherence to service hours, and streamlining route planning. Even though there are challenges associated with infrastructure establishment and data unification, smart truck parking systems are broadening the opportunities in the parking occupancy sensing market by improving freight movement, safety, and eco-sustainability.
Analysis Of Major Segments Driving The Parking Occupancy Sensing Market Growth
The parking occupancy sensing market covered in this report is segmented –
1) By Component: Hardware, Software, Services
2) By Sensor Type: Ultrasonic Sensors, Infrared Sensors, Camera-Based Sensors, Radar Sensors, Other Sensor Types
3) By Deployment: On-Street, Off-Street
4) By Connectivity: Wired, Wireless
5) By Application: Commercial, Residential, Government, Airports, Shopping Centers, Hospitals, Other Applications
Subsegment:
1) By Hardware: Inductive Loop Detectors, Gate And Barrier Systems, Parking Meters And Kiosks, Connectivity Modules
2) By Software: Parking Management Software, Data Analytics And Reporting Software, Mobile Or Cloud Applications, Real-Time Monitoring Software, Artificial Intelligence (AI) And Machine Learning-Based Optimization Software
3) By Services: Installation And Deployment Services, Maintenance And Support Services, Consulting And Integration Services, Remote Monitoring Services, Training And Education Services
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Which Region Is Expected To Lead The Parking Occupancy Sensing Market By 2025?
In the 2025 Parking Occupancy Sensing Global Market Report, North America held the position of the largest market in the previous year. Additionally, the Asia-Pacific region is forecasted to grow at the quickest pace. The report provides coverage for multiple regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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