India Smart Parking Systems Market

India Smart Parking Systems Market Overview:

The India smart parking systems market size reached USD 289.20 Million in ​2024​. Looking forward, IMARC Group expects the market to reach USD 882.71 Million by ​2033​, exhibiting a growth rate (CAGR) of 13.20% during ​2025-2033​. Rising urbanization, increasing vehicle ownership, growing traffic congestion, government initiatives for smart city development, advancements in IoT and AI-based parking solutions, rising demand for real-time parking management, and the integration of mobile payment systems are some of the major factors augmenting India smart parking systems market share.

India Smart Parking Systems Market Trends:

Rising Urbanization and Increasing Vehicle Ownership

India's rapid urbanization is leading to higher vehicle density, straining existing parking infrastructure, and driving demand for smart parking solutions. According to an industry report, the urban population, which was 31% in 2011, is projected to reach 40% by 2036, with urban areas accounting for 75% of the GDP. Also, cities like Mumbai, Delhi, and Bengaluru are witnessing significant increases in vehicle registrations. The lack of adequate parking spaces in commercial, residential, and public areas is causing severe congestion, necessitating the adoption of automated and tech-driven parking management systems, which is providing an impetus to the India smart parking systems market growth. Moreover, government-led smart city projects are prioritizing intelligent parking solutions to optimize urban mobility. Municipal corporations are implementing sensor-based parking management, digital payment integration, and mobile-based reservation systems to address space constraints and minimize traffic disruptions. The proliferation of high-rise residential complexes and commercial hubs is further intensifying the need for structured parking solutions, including multi-level automated parking, which is accelerating market demand. In addition to this, real estate developers and urban planners are incorporating smart parking technologies into new infrastructure projects to enhance space utilization. The shift towards planned urbanization, coupled with the growing emphasis on sustainability, is expected to accelerate investments in AI-driven and IoT-enabled parking systems to manage urban congestion efficiently.

Adoption of EV-Compatible Parking Infrastructure

The increasing penetration of electric vehicles (EVs) in India is driving demand for parking facilities equipped with EV charging stations, which is positively impacting the India smart parking systems market outlook. According to industry reports, India aims to increase the share of Electric Vehicle (EV) sales to 30% for private cars, 70% for commercial vehicles, 40% for buses, and 80% for two-wheelers and three-wheelers. This translates to an ambitious goal of having 80 million EVs on Indian roads by 2030. The government's push for the development of electric vehicles and EV-friendly urban infrastructure is encouraging parking operators to integrate EV chargers into their facilities, particularly in commercial complexes, shopping malls, and residential societies. In line with this, real-time EV charging slot booking through smart parking apps is emerging as a key feature, allowing EV users to locate and reserve charging-enabled parking spots. Besides this, advanced parking management systems are incorporating dynamic pricing models for EV charging, optimizing resource allocation based on demand fluctuations. Companies are also exploring solar-powered EV charging stations in parking lots to enhance sustainability and reduce grid dependency. Apart from this, strategic public-private partnerships (PPPs) are playing a significant role in accelerating the deployment of EV-compatible smart parking infrastructure. Automakers, charging station providers, and urban development authorities are collaborating to establish widespread EV charging networks integrated with smart parking platforms, ensuring seamless access to charging facilities and encouraging EV adoption in urban and semi-urban areas.

India Smart Parking Systems Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2025-2033. Our report has categorized the market based on hardware, software, service, type, and application.

Hardware Insights:

• Pucks (Wireless Sensors)
• Cameras and LPRs
• Smart Meters
• Signage
• Parking Gates

The report has provided a detailed breakup and analysis of the market based on the hardware. This includes pucks (wireless sensors), cameras and LPRs, smart meters, signage, and parking gates.

Software Insights:

• Parking Guidance System
• Analytics Solutions

A detailed breakup and analysis of the market based on the software have also been provided in the report. This includes parking guidance system and analytics solutions.

Service Insights:

• Consulting Service
• Engineering Service
• Mobile App Parking Service

The report has provided a detailed breakup and analysis of the market based on the service. This includes consulting service, engineering service, and mobile app parking service.

Type Insights:

• On-street
• Off-street
  • Garage Parking
  • Lot Parking

A detailed breakup and analysis of the market based on the type have also been provided in the report. This includes on-street and off-street (garage parking and lot parking).

Application Insights:

• Commercial
• Government
• Transport Transit

The report has provided a detailed breakup and analysis of the market based on the application. This includes commercial, government, and transport transit.

Regional Insights:

• North India
• South India
• East India
• West India

The report has also provided a comprehensive analysis of all the major regional markets, which include North India, South India, East India, and West India.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

India Smart Parking Systems Market News:

• On July 1, 2024, DESIGNA INDIA announced its inaugural project in Odisha: the implementation of an advanced Parking Management and guidance System at the Jagannath Ballav Pilgrim Center (JBPC) Multi-Level Car Parking, located 400 meters from the Shri Jagannath Temple in Puri. This facility, the largest of its kind in the state, features cutting-edge technologies such as license plate recognition, mobile ticket payment integration, a pre-booking platform, FASTag fee collection, and a robust database system designed to handle up to 5,600 transactions daily. Installation commenced in August 2024, with operations beginning in September 2024, aiming to enhance the parking experience for the temple's numerous annual visitors.
• On January 12, 2025, Davanagere Smart City Limited (DSCL) announced the launch of a smart parking system across nine city locations, accommodating up to 2,798 vehicles, including 2,421 two-wheelers. Motorists can reserve parking spaces in advance using the DVG Help mobile application, which provides real-time availability updates through integrated CCTV surveillance. This initiative aims to alleviate traffic congestion and streamline parking management within the city.

India Smart Parking Systems Market Report Coverage:

Key Questions Answered in This Report:

• How has the India smart parking systems market performed so far and how will it perform in the coming years?
• What is the breakup of the India smart parking systems market on the basis of hardware?
• What is the breakup of the India smart parking systems market on the basis of software?
• What is the breakup of the India smart parking systems market on the basis of service?
• What is the breakup of the India smart parking systems market on the basis of type?
• What is the breakup of the India smart parking systems market on the basis of application?
• What is the breakup of the India smart parking systems market on the basis of region?
• What are the various stages in the value chain of the India smart parking systems market? 
• What are the key driving factors and challenges in the India smart parking systems market?
• What is the structure of the India smart parking systems market and who are the key players?
• What is the degree of competition in the India smart parking systems market? 

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the India smart parking systems market from 2019-2033.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the India smart parking systems market.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the India smart parking systems industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.