Technology

Paving the Way for Smarter Cities: Trends and Markets in Smart Parking Technologies

Published

11 months ago

February 14, 2024

Cutting-Edge Research Unveils Striking Expansion of Global Smart Parking Technologies Market, with a Staggering Compound Annual Growth Rate (CAGR) of 18.1%

BOSTON, Feb. 14, 2024 /PRNewswire/ — Discover the future of parking with our exploration of Smart Parking Technologies and Global Markets. This brief journey explores the latest advancements in parking technology and their impact on global markets. From intelligent sensors to data-driven solutions, join us in uncovering the key trends and market dynamics propelling the evolution of smart parking on a global scale.

“According to the latest research study, the demand for Smart Parking Technologies and Global Markets grow from $38.7 billion in 2023 and is estimated to increase from $88.8 billion in 2028, at a compound annual growth rate (CAGR) of 18.1% from 2023 to 2028.”

Embark on a captivating journey into the world of smart parking with this report, offering a comprehensive overview of global market trends. Anchored in the pivotal year of 2022, the analysis extends its gaze into the future, forecasting market dynamics through 2028. Delving into the nuances of hardware, software, and services, as well as diverse parking solution types, technologies, end-users, and regional landscapes, the report provides a roadmap for understanding the transformative forces at play. It’s a revealing exploration of the market’s evolution, carefully crafted to illuminate key insights and projections. Notably, while the report sheds light on revenue forecasts across various dimensions, it refrains from delving into the intricacies of hardware costs and volumes, ensuring a focused and streamlined narrative.

The surge in the number of vehicles on the roads, coupled with government initiatives like smart cities, is anticipated to drive the development of improved traffic and parking management solutions in regions such as Asia-Pacific and Oceana by 2030. The widespread adoption of artificial intelligence (AI) plays a key role, leveraging data from sensors and cameras to create intelligent parking management systems. These devices, strategically placed in and around parking lots, efficiently detect available parking spots. Looking ahead, the smart parking market is poised for significant transformation with the advent of automated vehicles (AVs). Forward-thinking cities in the industry are already testing self-parking vehicles, automated parking lots, and robotic parking valets. For instance, ParkPlus, a leading provider of automated parking systems, is actively working on deploying a fully automated parking garage, marking a notable stride in the future of smart parking.

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Driving forces behind the smart parking technologies and global market’s growth comprise:

1. Growing Demand for IoT-Based Vehicles-The rise of IoT-based vehicles signifies a surging demand for connected and smart automotive solutions. With features like real-time data exchange, predictive maintenance, and enhanced safety, these vehicles are at the forefront of transforming the driving experience. As consumers increasingly seek seamless connectivity, the demand for IoT-based vehicles is rapidly gaining momentum, shaping the future of the automotive industry.

2. More Vehicles on the Road-The increasing number of vehicles on the road highlights a growing challenge in urban mobility and infrastructure. This surge in traffic poses implications for congestion, environmental impact, and the need for innovative solutions to ensure efficient and sustainable transportation systems.

3. Government Policies and Regulations to Support Smart Parking-Government policies and regulations are crucial drivers for the advancement of smart parking solutions. With a focus on enhancing urban mobility and reducing traffic congestion, policymakers are increasingly supporting initiatives that promote the implementation of smart parking technologies. These regulations play a pivotal role in fostering innovation, encouraging the adoption of intelligent parking systems, and contributing to the development of more efficient and sustainable urban environments.

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Report Synopsis

Report Metrics

Details

Base year considered

2022

Forecast Period considered

2023-2028

Base year market size

$35.6 billion

Market Size Forecast

$88.8 billion

Growth Rate

CAGR of 18.1% for the forecast period of 2023-2028

Segment Covered

Offering, Parking Solution Type, Technology, End User

Regions covered

North America, Europe, Asia-Pacific, and Rest of the World (RoW)

Countries covered

U.S., Canada, Mexico, U.K., Germany, France, Russia, Italy, Norway, Sweden, Finland, Poland, Denmark, Hungary, China, India, Japan, Australia, New Zealand, Taiwan, Indonesia, Thailand, Singapore, Latin America, Middle East and Africa

Key Market Drivers

• Growing Demand for IoT-Based Vehicles

• More Vehicles on the Road

• Government Policies and Regulations to Support Smart Parking

The Rising Demand for Smart Parking Technologies and Global Markets:

The global demand for smart parking technologies is on the rise, shaping markets worldwide. With a focus on efficiency and overcoming parking challenges, intelligent solutions are gaining traction. From advanced sensors to data-driven management systems, the market is undergoing a transformative shift. This increasing demand not only impacts urban mobility but also drives innovation in the broader context of smart city development. The future promises a seamlessly integrated and technologically advanced approach to parking, reflecting the growing importance of intelligent solutions on a global scale.

Trends and Innovations:

Delve into the dynamic landscape of smart parking technologies with a focus on current trends and innovations shaping global markets. From state-of-the-art sensors to groundbreaking management systems, this exploration unveils the forefront of parking solutions. Discover the evolving industry as it adapts to modern urban needs, providing insights into the exciting future of smart parking technologies.

Challenges and Opportunities

Navigate the challenges and opportunities in the realm of smart parking technologies, influencing global markets. From overcoming urban congestion to capitalizing on technological advancements, this exploration sheds light on the dynamic landscape. Uncover the potential hurdles and the promising openings, offering a glimpse into the evolving world of smart parking solutions and the broader opportunities they present on a global scale.

This report on the smart parking technologies and global markets provides comprehensive insights and analysis, addressing the following key questions:

What is the market’s expected size and rate of growth?
Over the forecast period of 2023–2028, the smart parking technologies market was expected to increase at a compound annual growth rate (CAGR) of 18.1%, from $35.6 billion in 2022 to $88.8 billion in 2028.
What are the main elements propelling the market’s expansion?
Growing demand for Internet of Things (IoT)-based automobiles, the adoption of laws and regulations to facilitate smart parking, and an increase in the number of vehicles as a result of an expanding economy are the main drivers propelling the growth of the smart parking technologies market.
Which market segments are covered?
Based on components, parking solution type, technology, end-user, and geography, the global smart parking technologies market is divided into segments.
Which market sector, according to end use, will be in the lead by 2028?
The market for smart parking technologies will remain dominated by the commercial parking segment by the end of 2028. The segment is expected to maintain its dominant position through the end of 2028 due to the growth of retail centers, sports complexes, amusement parks, and recreation centers.
Which geographic area dominates the market in terms of market share?
In terms of market share, North America leads the world market for smart parking technologies. Canada and the United States both make major contributions to the worldwide market for smart parking solutions. The region’s high rates of urbanization, dense population, and robust technical infrastructures are driving demand for market expansion.

Some of the Key Market Players Are:

3MAPTIVCISCO SYSTEMS INC.CONTINENTAL AGFLASHPARKINGINRIXKAPSCH TRAFFICCOM AGNEC CORP.NEDAP N.V.ROBERT BOSCH GMBHSIEMENS AGSMART PARKINGTKH GROUPVALEO

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About BCC Research

BCC Research provides objective, unbiased measurement and assessment of market opportunities with detailed market research reports. Our experienced industry analysts’ goal is to help you make informed business decisions, free of noise and hype.

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Email: info@bccresearch.com,
Phone: +1 781-489-7301
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Data and analysis extracted from this press release must be accompanied by a statement identifying BCC Research LLC as the source and publisher.

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SOURCE BCC Research LLC

Technology

THIRDREALITY Showcases Latest Innovations in Smart Home Technology at CES 2025

Published

34 minutes ago

January 2, 2025

LAS VEGAS, Jan. 2, 2025 /PRNewswire/ — THIRDREALITY, a leader in the smart home technology industry, is excited to present its latest breakthroughs at CES 2025, which promise to enhance the daily living experience through superior integration and functionality. Visit us at the Venetian Expo, Booth 52565 from January 7-10.

This year, THIRDREALITY is thrilled to unveil several key products, each designed to address specific aspects of home automation and user convenience:

Smart Hub Gen3: Supports both Zigbee and Matter protocols. With local storage, cloud services, and local routine support, you can enjoy exceptional smart home control. Whether it’s home automation or remote management, experience reliable and efficient smart living.Motion Sensor R1: Powered by a 5.8G mmWave radar sensor for customizable detection with adjustable sensitivity. Battery-powered for easy installation, making smart home integration effortless and seamless.Smart Switch MT1: The first Thread product of THIRDREALITY. This product embodies the brand’s commitment to innovation, leveraging advanced Thread technology for exceptional responsiveness and seamless smart home integration, paving the way for the future of smart living.Smart Plug with Wi-Fi Sense: Transform your Wi-Fi into a powerful motion-sensing network with WiFi Motion. This camera-free, AI-driven solution provides motion alerts and analysis while safeguarding your privacy.Smart Blind Gen2: Designed for large windows (34 to 80 inches) and equipped with dual motors for smooth operation. With up to 1.5 years of battery life, it supports customization for various window needs.Water Leak Sensor KM1: Protect your home with our comprehensive water leak detection kit—featuring an 80-meter range, customizable alarm alerts, and seamless Matter compatibility. Stay connected and secure with reliable, scalable leak monitoring.

THIRDREALITY will also introduce the ListenCare Senior Speaker, a sound solution designed specifically for seniors with hearing impairments. This speaker enhances the daily lives of the elderly by offering clear, customizable audio. Featuring ultra-low latency technology, it ensures perfect synchronization between audio and visual media, while flexible volume control and personalized sound frequency settings allow users to adjust audio to their specific hearing needs. Whether for watching TV or enjoying music, the ListenCare Senior Speaker ensures every note and word is crystal clear, making it a perfect addition to any senior’s home environment. This innovative product highlights THIRDREALITY’s commitment to enhancing accessibility and quality of life for the elderly through smart technology.

We invite all CES attendees to our booth to experience these transformative technologies in action. For more information about THIRDREALITY and our range of products, please visit our official website at www.3reality.com.

About Third Reality:

Third Reality is a smart home technology company, dedicated to developing high-quality, user-friendly, and secure smart home products. Through continuous innovation and a deep understanding of market needs, the company strives to provide an improved smart home experience for users worldwide.

For more information, please visit www.3reality.com or follow our social media platforms.

Technology

Guns.com Outpaces Competition in 2024, Surging Momentum Carries into 2025

Published

34 minutes ago

January 2, 2025

Online Retailer Continues to Revolutionize the Online Shopping Experience for Gun Owners, Manufacturers, and Local Dealers Nationwide

BURNSVILLE, Minn., Jan. 2, 2025 /PRNewswire-PRWeb/ — The future of online firearm sales is here, and Guns.com is leading the way. The fastest-growing online retailer in the firearms industry celebrates a record year in revenue with a 10% increase in customers, one of the highest growth rates in the firearm industry. More than a million new consumers shopped for the first time on Guns.com this year, on top of a strong base of loyal gun buyers. This achievement marks the biggest year for customers and firearm transactions on Guns.com since launching their retail operations in 2018. The leading online retailer has hit double-digit growth rates in sales every year since launch.

“The customer experience on Guns.com has become a benchmark in the industry. In addition to our cutting-edge technology, our success is largely due to the strategic partnerships with many of the industry’s best manufacturers and our growing network of 2,000 local FFL dealers nationwide.”

Guns.com’s leading technology provides the best online shopping experience the Second Amendment community has come to expect. With over half a billion dollars in sales since inception, local gun stores and manufacturers value a turn-key national marketplace to grow their businesses. More and more gun owners continue to prefer the innovative and modern way of buying and selling guns offered by Guns.com.

“In just six years, we have become one of the nation’s leading platforms for buying and selling firearms, suppressors, ammo, optics, and more,” says Greg Minkler, Co-CEO and CMO of Guns.com. “The customer experience on Guns.com has become a benchmark in the industry, and we are proud to be the best online shopping experience in the firearm industry. In addition to our cutting-edge technology, our success is largely due to the strategic partnerships with many of the industry’s best manufacturers and our growing network of 2,000 local FFL dealers nationwide.”

Gun owners value the ease and usability of Guns.com, finding the precise gun they want thanks to the hundreds of thousands of listings from their national network of local gun stores and manufacturers. Exceptional customer service helps gun owners through each transaction, from understanding regulations to handling paperwork and ensuring a smooth transfer experience at the customer’s FFL of choice.

Strategic Industry Partnerships

Groundbreaking partnerships with large and small manufacturers across the industry doubled in the past year as more top brands are seeing the benefits of the unique business model of Guns.com. With the ability to drive sales directly to brick-and-mortar FFL dealers, Guns.com helps manufacturers grow in-store sales through an e-commerce platform like no other company can. Challenges in reaching customers are a thing of the past for manufacturers as they partner with Guns.com to implement innovative and strategic marketing solutions with access to real-time data and monthly reports.

“Working with Guns.com has been a positive experience,” says Kamil Mroczka, director of sales at Colt’s Manufacturing Company, LLC. “Together, we combine innovative marketing with targeted sales strategies, driving growth and achieving lasting success through creativity and collaboration.”

Manufacturers can connect directly to consumers with industry-leading innovations, like in-cart instant rebates and the “Buy Now” button, linking customers directly from a manufacturer’s website to an accurate and in-stock product listing on Guns.com. Renowned manufacturers such as FN America, Colt, Glock, KelTec, Smith & Wesson, Taurus, Rossi, Heritage Manufacturing, Rock River, Ruger, Walther, B&T USA, Kimber, CZ USA, Savage Arms, and many more are capitalizing on custom-branded pages on Guns.com to enhance their presence and connect with a broader audience.

Additionally, Guns.com launched a partnership in 2024 with Silencer Central, the suppressor industry leader, to offer a growing list of suppressors to millions of customers. Featuring the award-winning BANISH® line, customers can now conveniently shop for suppressors in addition to firearms, ammo, and gear. When a customer buys a suppressor on Guns.com, the purchase is fulfilled through Silencer Central, including all required paperwork and ATF forms. Once approved, the suppressor ships directly to the buyer’s door, avoiding expensive transfer fees.

Powering Local Businesses

An expansive and fresh inventory of more than 30,000 firearms is made possible by a growing network of over 2,000 local brick-and-mortar FFL dealers and pawn brokers. Guns.com quickly connects these licensed and vetted businesses with millions of customers nationwide through a simple and powerful marketplace. Dealers are drawn to Guns.com’s low-cost, user-friendly platform, which makes inventory management, order processing, and customer service simple.

“For years, we’ve tried other listing sites, but none were as effective and easy to use as Guns.com,” says Tim Hensley at Towers Armory in Oregon, Ohio. “We partnered up with Guns.com in early 2022, and since then, we have gone from average in-house sales to an online powerhouse.”

By joining the Guns.com network, local brick-and-mortar dealers expand their consumer reach and increase their sales with a higher margin. Local dealers are at ease knowing they are not competing against big box stores, private FFLs, or non-storefront FFLs on Guns.com. Business owners and managers can also keep their firearms for sale in-store, eliminating the complexity and hassle of quarantining inventory.

Revolutionizing the Used Gun Market

Guns.com is the only online firearm retailer to offer Certified Used guns, giving customers confidence and trust when buying a used gun. All used firearms purchased by Guns.com undergo a rigorous 10-point inspection process before receiving the “Certified” badge and are listed for sale. Customers also benefit from free shipping on all Certified Used guns, and a “no questions asked” return policy.

Local firearm dealers nationwide are seeing record sales of used firearms in 2024 through Guns.com. Used and certified used firearm sales are up 12% year over year, with used firearms accounting for nearly 26% of dealer sales.

Additionally, gun owners are choosing Guns.com to sell their older or unwanted firearms to get cash or to upgrade their collection. Their innovative online system guides the gun owner through simple steps to share basic details, features, and images of their firearm. The secure and streamlined process takes gun owners two minutes to submit their firearms for appraisal on average. Once submitted, the Guns.com expert appraisal team will review the request and provide a cash offer within one business day.

“This past year saw an increase of 13% more offers made and paid to gun owners. Since launching our Gift Card payout option in July, we’ve issued hundreds of thousands of dollars in gift cards, with each customer receiving a bonus gift card up to $50. These cards can immediately be used to upgrade the gun they sold – allowing consumers to essentially trade in their old gun and upgrade to any of the tens of thousands of firearms for sale on Guns.com” states Senior Buyer for Guns.com, Mark Sims. “Our appraisal team has over 100 years of combined experience, providing hundreds of competitive offers daily.”

Guns.com invites you to experience the best, most innovative shopping experience in the firearms industry at https://www.guns.com/. If you are interested in partnering with Guns.com to elevate your business in 2025, please email marketing@guns.com.

About Guns.com

Guns.com is the ultimate destination for gun owners, revolutionizing the online firearms retail experience since 2011. With an unwavering commitment to innovation, efficiency, and exceptional customer satisfaction, they empower and equip people to exercise their Second Amendment rights. With a growing network of over 2,000 local brick-and-mortar dealers, explore an extensive collection of over 30,000 new and Certified Used firearms. Stock up on a range of suppressors, ammo, gear, and more. Stay informed with industry news, in-depth product reviews, and exclusive content from top manufacturers. Experience why Guns.com stands unrivaled as the premier online marketplace for firearms and suppressors.

Media Contact

Dave Conlan, Guns.com, 1 8044860673, dave.conlan@guns.com, https://www.guns.com/

Twitter, LinkedIn

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SOURCE Guns.com; Guns.com

Technology

Kanerika Unveils AI Agents Redefining Workplace Efficiency

Published

34 minutes ago

January 2, 2025

AUSTIN, Texas, Jan. 2, 2025 /PRNewswire/ — Kanerika, a leading AI and data solutions company, has announced the launch of three AI agents: Alan, Susan, and Mike. Designed to simplify some of the most strenuous and time-consuming tasks in the workplace, these agents bring a new level of efficiency to legal document summarization, data redaction, and quantitative proofreading.

Kanerika Unveils three AI Agents Redefining Workplace Efficiency

“We believe AI agents are the future of work,” said Samidha Garud, Co-founder and CEO of Kanerika. “With the launch of Alan, Susan, and Mike, we’re addressing some common yet labor-intensive business tasks. These AI agents save valuable employee time, enhance productivity, and reflect our commitment to innovation and enterprise growth.”

Meet the AI Agents

Alan – The Legal Document Summarizer

Alan transforms lengthy legal documents into concise summaries. Users can customize summaries with simple, natural language rules tailored to their needs. With unlimited summary generation, Alan drastically reduces time spent on legal reviews, streamlining contract analysis and enhancing efficiency.

Susan – The PII Redactor

Susan ensures compliance by redacting sensitive information such as names and numbers. Upload your document, specify fields to redact, and Susan delivers a secure, redacted version to your inbox, meeting stringent data privacy standards.

Mike – The Proofreader

Mike validates documents with precision, checking quantitative data for arithmetic accuracy, and cross-document consistency. It flags discrepancies and provides a detailed report, helping businesses maintain error-free, trustworthy documentation.

Accessibility and Pricing

Kanerika is offering the basic versions of these AI agents for free, allowing users to experience the transformative potential of these tools. For those requiring advanced features, a professional version with enhanced capabilities is available at a competitive price point.

About Kanerika

Kanerika is a premier data and AI solutions company that helps enterprises enhance efficiency with innovative technologies. Known for employing cutting-edge methodologies, Kanerika delivers exceptional outcomes across industries. Certified with ISO 27701 & 27001, SOC II, and GDPR compliance, and appraised at CMMi Level 3, Kanerika is committed to quality service delivery. As a distinguished partner of Microsoft, AWS, and Informatica, Kanerika empowers businesses with robust solutions that drive growth and innovation.

For more information, please contact:
marketing@kanerika.com

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SOURCE Kanerika Inc.