The global smart parking system market size is expected to reach USD 368.7 million by 2024 according to a new study by Grand View Research, Inc. Favorable government initiatives and increasing public sector funding will favor the growth and adoption of smart parking system for the forecast period.
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The industry is anticipated to witness an upsurge in demand for smart parking systems in transport transit and commercial applications segment, and it is subsequently expected to impel the growth in the industry.
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