According to Renub Research Europe Smart Parking Market is projected to grow from US$ 2.48 billion in 2024 to US$ 12.88 billion by 2033, registering an impressive CAGR of 20.11% during 2025–2033. The region’s focus on sustainable urban infrastructure, high investments in smart city development, and rapid adoption of intelligent transportation systems are major contributors to this growth. As European cities face rising vehicle density, shrinking parking availability, and stricter environmental targets, the demand for IoT-enabled smart parking systems continues to surge across both public and private sectors.
Europe Smart Parking Industry OverviewThe smart parking market in Europe is expanding rapidly because of increasing urbanization, growing traffic congestion, and stricter sustainability mandates. Cities are implementing IoT sensors, AI-based anal…