Parking Management Market Size Is Expected To Reach USD 8,438.4 Million By 2024: Grand View Research, Inc.

The global parking management market size is expected to reach USD 8,438.4 million by 2024 according to a new study by Grand View Research, Inc. The increased public sector funding and constructive government initiatives are presumed to strengthen the global parking management industry growth. The market is anticipated to experience a surge in the demand for parking management solutionsin the commercial and government application segments and is expected to propelthe industry growth.
The emergence of smart parking systems helps inefficiently addressing the traffic woes and parking-related issues. The system helps in minimizing fuel usage and consequently reducesautomobile emissions. The industry is expected to gain tractiondue to thedevelopment of systems with sophisticated features such as handicapped parking, auto-payment options, and voice guidance enabled through mobile phone applications.
An increasing number of vehicles is impacting the availability of parking lots and is consequently fueling the demand for implementing parking management solutions across the globe. The systems help in making the cities cleaner, greener, and compact. The growing smartphone penetration will benefit the industry by increasing its reach. These parking mobile applications are expected to offer local businesses an opportunity to attract their most potential customers and provide them with the best offers for customers looking for parking.

View summary of this report @ http://www.grandviewresearch.com/industry-analysis/parking-management-market

Further key findings from the study suggest:

·         The government application segment dominated the global parking management industry accounting for over 60% of the market share in 2015. The rising demand for minimizing vehicular emissions and effectively managing on-road automotive is expected to trigger the wide-scale adoption of parking management solutions in the government sector

·         The North America regional market accounted for 40% of the overall revenue share in 2015. The rising interest of automobile manufacturers in the U.S. and Canada to develop parking management systems is projected to fuel growth in the region

·         The demand for the parking reservation management solution segment accounted for 15% of the overall market share in 2015.This demand is expected to increase in the metropolitan cities as vehicle ownership is increasing, which is leading to parking problems. The parking reservation management reduces traffic congestion issues due to better parking space, reduced search time, cost for parking spaces, and increased parking revenue

·         The service segment accounted for 18% of the global market share in 2015. The parking management solution providers, mobile payment companies, and parking data aggregators are changing the way parking is seen by the end-users and operators. This segment includes revenue generated from consultancy services, engineering services, and revenue generated by companies offering parking services through the mobile application. The segment is expected to be the fastest-growing component segment

·         The key players in the industry include Amano, 3M, Cubic Corporation, Swarco AG, Siemens AG, Kapsch TrafficCom, Xerox Corporation, and IBM Corporation

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Grand View Research has segmented the global parking management market on the basis of application, parking site, component, solution, and region:
Parking Management Application Outlook (Revenue, USD Million, 2014 - 2024)

·         Transport transit

·         Government

·         Commercial

Parking Management Parking Site Outlook (Revenue, USD Million, 2014 - 2024)

·         On-street

·         Off-street

Parking Management Component Outlook (Revenue, USD Million, 2014 - 2024)

·         Hardware

·         Software

·         Service

Parking ManagementSolution Outlook (Revenue, USD Million, 2014 - 2024)

·         Access control

·         Security & surveillance

·         Revenue management

·         Parking reservation management

·         Valet parking management

·         Others

Parking Management Regional Outlook (Revenue, USD Million, 2014 - 2024)

·         North America

·         Europe

·         Asia Pacific

·         Latin America

·         MEA

For press release of this report - http://www.grandviewresearch.com/press-release/global-parking-management-market

Mobile Wallet Market Is Expected To Reach 1,420.8 Million Users By 2020, Growing At A CAGR Of 30.0% From 2014 To 2020: Grand View Research, Inc.

Global Mobile Wallet Market is expected to reach USD 2,950.2 billion by 2020, according to a new study by Grand View Research, Inc. Increasing smartphone penetration, exponential growth of mobile internet applications and advancement of 3G and 4G networks are expected to serve as key market drivers over the forecast period. Technological advancement and the advent of NFC (Near-Field Communication) are also expected to positively impact market growth over the forecast period.
The market is characterized by consumer demand for easy and convenient payment modes that consume minimum time as against traditional banking channels. Furthermore, surging demand for high-end mobile devices and integration of technologies such as RFID, Bluetooth and NFC across POS (Point of Sale) terminals is expected to significantly contribute to industry growth. Additionally, secure and easy payment processes and enhanced user experience offered by mobile wallet solutions are expected to fuel global demand.
View summary of this report @ http://www.grandviewresearch.com/industry-analysis/mobile-wallet-market
Further key findings from the study suggest:

·         The global mobile wallet market was estimated to comprise 230 million users in 2013, which is expected to reach 1,420.8 million users by 2020, growing at a CAGR of 30.0% from 2014 to 2020.

·         Retail was the largest application area in 2013 and accounted for over 40% of the overall market. This can be primarily attributed to initiatives to equip retail stores with easy mobile device payment options along with integration of POS terminals and various loyalty schemes, which result in better customer engagement. In public transportation, mobile wallet facilitates the purchase of tickets for air, rail, bus, and other forms of transport in an efficient manner.

·         Asia Pacific accounted for over 30% of the global market volume in 2013. Furthermore, the region is expected to witness the fastest growth over the next six years, which can be primarily attributed to the surge in number of smartphone and internet users.

·         Key industry participants include American Express Inc., BlackBerry, Apple Inc., First Data, Google, ISIS, MasterCard, PayPal Inc., Samsung and Visa Inc. Developing easy-to-use and secure mobile wallet solutions delivering enhanced user experience is expected to be a critical success factor for gaining market share.

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For the purpose of this study, Grand View Research has segmented the global mobile wallet market on the basis of application and region:
    • Mobile Wallet Application Outlook (Volume, Million Users & Revenue, USD Billion; 2012 - 2020)
            • Grocery Stores
            • Public Transportation
            • Restaurants
            • Retail
            • Vending Machines
    • Mobile Wallet Regional Outlook (Volume, Million Users & Revenue, USD Billion; 2012 - 2020)
            • North America
            • EMEA
            • Asia Pacific
            • Latin America

For Free press release of this report - http://www.grandviewresearch.com/press-release/global-mobile-wallet-market

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.

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Near Field Communication (NFC) Market To Witness Growth On Account Of Rising Demand In Mobile Payment Application Till 2020

The NFC market is expected to witness rapid growth across various application verticals over the forecast period, according to a new study by Grand View Research, Inc. Rapid technological advancement and high smartphone demand due to technology standardization is expected to positively impact market growth. Demand for cost effectiveness along with increasing availability of NFC-enabled smartphones is also a major market driver. In addition, the market provides opportunities to the direct mail marketing sector, which in turn may drive m-commerce and mobile payment options.
NFC is integrated in a wide range of equipment and devices including tablets, laptops, cameras, headsets, televisions, cookers, washing machines, cars and vending machines. In addition to industrial and commercial applications, this technology is preferred for financial transactions. High development cost, poor infrastructure coupled with lack of consumer awareness about potential benefits may hamper market growth over the next six years. Transformation in transaction process methods along with social media engagement applications are expected to offer growth avenues for the global NFC market.

View summary of this report @ http://www.grandviewresearch.com/industry-analysis/near-field-communication-nfc-market

Further key findings from the study suggest:

·         The NFC market comprises non-auxiliary and auxiliary products. Non-auxiliary segment includes readers, tags and IC/chips, while auxiliary products include NFC-enabled covers, SIMs and microSD cards. NFC readers are expected to witness high growth over the forecast period, which is a result of growing application areas and demand for ticketing, access control and authentication.

·         Mobile payment application is expected to remain the dominant market segment over the next six years. This can be attributed to benefits such as improved financial transparency, improved public sector servicing and reduced carbon footprint. In addition, emergence of mobile wallet payment methods has enhanced user experience against contactless cards.

·         Asia Pacific is expected to witness high growth due to growing adoption of this technology in retail and transportation. Financial institutions as well as Mobile Network Operators (MNOs) have supported contactless payment facilities. Increasing use of smartphones for transaction at point of sale (POS) terminals is expected to drive the market in North America.

·         Key companies operating in the NFC market include Nexperts, Infineon Technologies, Gemalto, Renesas, Sony Corporation, STMicroelectronics and Texas Instruments. Rising emphasis on vertical integration activities in order to obtain greater product reliability and optimized manufacturing throughput is estimated to be the major growth strategy.

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For the purpose of this study, Grand View Research has segmented the global NFC market on the basis of product, application and region:
NFC Product Outlook (Volume, Million Units & Revenue, USD Million; 2012 - 2020)
    • Auxiliary
    • Non-Auxiliary
            • NFC IC (Chips)
            • NFC Tags
            • NFC Readers
NFC Application Outlook (Volume, Million Units & Revenue, USD Million; 2012 - 2020)
    • Payment
    • Transportation
    • Booking
    • Data Sharing
    • Service
    • Access Control
    • Healthcare
    • Others
NFC Regional Outlook (Volume, Million Units & Revenue, USD Million; 2012 - 2020)
    • North America
    • Europe
    • Asia Pacific
    • RoW

For Free press release of this report - http://www.grandviewresearch.com/press-release/global-near-field-communication-nfc-market

Next Generation Memory Market Will Grow Based Upon Increasing Usage In Mobile Phones To Enhance Customer Experience Till 2020: Grand View Research, Inc.

The Global Next Generation Memory Market is expected to reach USD 3.43 billion by 2020, according to a new study by Grand View Research, Inc. Increasing need for fast and economical storage solutions across diverse applications is estimated to drive market growth over the forecast period. Next generation memory is used for various applications such as enterprise, industrial and automotive to store and manage information, which is expected to augment market growth over the next six years.
Increasing use of next generation memory in mobile phones to enhance customer experience is expected to fuel market growth. Increasing demand for wearable electronics and replacement of flash memory storage may provide new growth avenues to the next generation memory market. Low environment stability and high design cost may act as a restraint to market growth over the forecast period.

View summary of this report @ http://www.grandviewresearch.com/industry-analysis/next-generation-memory-market

Further key findings from the study suggest:

• Non-volatile memory storage is expected to remain the key product segment over the forecast period; it accounted for over 90% of the market in 2013. This technology is used for economical storage and fast processing of data and sustains the stored information even when the power is turned off. Volatile memory storage is estimated to witness considerable growth over the forecast period. In this technology, information fades when the power supply is turned off unless the storage device is periodically refreshed.
• Mobile phones were a major application segment in 2013 and accounted over 55% of the overall market in the same year. All common computing platforms from handheld devices to supercomputers use storage systems to store data permanently or temporarily. Smart cards store a few bytes of data and are expected to grow at a significant rate over the forecast period.
• North America was estimated to be the key regional market in 2013. The Asia Pacific market is expected to grow at a considerable rate owing to increasing demand for smartphones and tablets. Additionally, presence of key market players in countries such as China, India, Japan and South Korea is also expected to positively impact the regional market over the forecast period.
• Key industry participants include Samsung Electronics Co. Ltd., IBM Corp, Adesto Technologies, Crossbar Inc, Fujitsu Ltd, Toshiba Corporation, Intel Corporation etc. Toshiba along with SK Hynix are working on production of next generation memory chips, which is expected to decrease power consumption and increase data transfer speed. Economical and efficient solution development is expected to be a critical success factor for market players.

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For the purpose of this study, Grand View Research has segmented the global next generation memory market on the basis of product, application and region:
Next Generation Memory Product Outlook (Revenue, USD Million, 2012 – 2020)
    • Volatile
    • Non-Volatile
Next Generation Memory Application Outlook (Revenue, USD Million, 2012 – 2020)
    • Mass Storage
    • Mobile Phones
    • Industrial & Automotive
    • Embedded MCU & Smart Cards
    • Cache Memory & Enterprise Storage
Next Generation Memory Regional Outlook (Revenue, USD Million, 2012 – 2020)
    • North America
    • Europe
    • Asia Pacific
    • RoW

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