According to a recent report by TechNavio, the global smart parking market is projected to surpass $30 billion for the first time in 2025, with a compound annual growth rate (CAGR) of 18.7%.
The report indicates that overseas governments and real estate developers have incorporated "integrated parking and charging" as a core procurement standard in new construction and renovation projects, requiring 100% of parking spaces to have pre-installed charging interfaces and to be connected to city-level carbon emission management platforms.
Currently, Chinese solution providers have secured over 40% of the bidding share in the Middle East and the European Union, with orders booked until 2027.