Saudi Arabia Smart Parking Market

Saudi Arabia Smart Parking Market Overview:

The Saudi Arabia smart parking market size reached USD 51.3 Million in 2024. Looking forward, IMARC Group expects the market to reach USD 131.9 Million by 2033, exhibiting a growth rate (CAGR) of 9.9% during 2025-2033. The market is witnessing significant growth mainly driven by expansion, rising vehicle ownership, and government-led smart city initiatives. Increased demand for efficient traffic management and digital infrastructure is accelerating adoption, driving the market growth in Saudi Arabia.

Saudi Arabia Smart Parking Market Trends:

Growth in Mobile App-Based Solutions

Mobile app-based parking solutions are gaining strong traction across urban centers in Saudi Arabia, transforming how users find, reserve, and pay for parking. These apps offer features like real-time space availability, GPS-based navigation, contactless payments, and digital receipts, aligning with the country's push toward digitized services. This shift is accelerating Saudi Arabia smart parking market growth as tech-savvy users increasingly adopt app-driven experiences for convenience and efficiency. Local municipalities and private developers are integrating these apps with smart parking infrastructure to streamline enforcement and reduce congestion. For instance, in September 2024, the Riyadh Mayoralty announced the launch of a trial-run of the Riyadh Parking project, installing 60 solar-powered payment machines and 180 guidance panels. Designed to improve parking in the city, the smart app facilitates digital payments for over 7,000 users. The rising number of smartphone users and improvements in mobile connectivity are further fueling demand. App-linked solar-powered meters, such as those introduced in Riyadh, highlight the seamless integration of digital platforms with on-ground hardware. As adoption widens, these platforms are set to capture a growing Saudi Arabia smart parking market share across cities and sectors.

Adoption of IoT and AI Technologies

The integration of IoT and AI technologies is reshaping the smart parking landscape in Saudi Arabia. IoT sensors embedded in parking lots provide real-time data on space occupancy, enabling automated updates on availability through digital displays and mobile apps. AI-driven analytics process this data to optimize space allocation, predict peak usage times, and reduce wait times. For instance, in February 2025, VEStellaLab and Hyundai Corporation signed an MOU to expand smart AI parking optimization solutions in the Middle East, including Saudi Arabia. Utilizing Hyundai's vast network, they will distribute VEStellaLab's technology, like the 'Watchmile' system, which analyzes parking occupancy and directs users to optimal spots. These technologies enhance operational efficiency by helping drivers find spots faster, lowering emissions caused by circling traffic. Municipal authorities and private operators are deploying AI-backed platforms for dynamic pricing, violation detection, and data-driven planning. The growing demand for intelligent traffic management, combined with increased urbanization, is pushing adoption further. With smart city programs prioritizing automation and efficiency, the deployment of connected parking systems is expected to expand rapidly. This technological shift is creating a positive Saudi Arabia smart parking market outlook.

Saudi Arabia Smart Parking Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the regional level for 2025-2033. Our report has categorized the market based on system, technology, component, solution, vertical type, and parking site.

System Insights:

• Guided Park Assist System
• Smart Park Assist System

The report has provided a detailed breakup and analysis of the market based on the system. This includes guided park assist system, and smart park assist system.

Technology Insights:

• Ultrasonic
• RFID
• IoT

A detailed breakup and analysis of the market based on the technology have also been provided in the report. This includes ultrasonic, RFID, and IoT.

Component Insights:

• Hardware
• Software
• Services

A detailed breakup and analysis of the market based on the component have also been provided in the report. This includes hardware, software, and services

Solution Insights:

• Security and Surveillance
• Valet and Parking Reservation
• License Plate Recognition

A detailed breakup and analysis of the market based on the solution have also been provided in the report. This includes security and surveillance, valet and parking reservation, and license plate recognition.

Vertical Type Insights:

• Government and Municipalities
• Commercial Institutions
• Transport Facilities

A detailed breakup and analysis of the market based on the vertical type have also been provided in the report. This includes government and municipalities, commercial institutions, and transport facilities.

Parking Site Insights:

• Off-Street Parking
• On-Street Parking

A detailed breakup and analysis of the market based on the parking site have also been provided in the report. This includes off-street parking and on-street parking.

Regional Insights:

• Northern and Central Region
• Western Region
• Eastern Region
• Southern Region

The report has also provided a comprehensive analysis of all the major regional markets, which include Northern and Central Region, Western Region, Eastern Region, and Southern Region.

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.

Saudi Arabia Smart Parking Market News:

• In December 2024, Parkin, Dubai’s largest paid parking provider, announced its partnership with BATIC to explore smart parking solutions in Saudi Arabia. This collaboration aims to enhance parking efficiency across BATIC's 195,000 spaces in five cities, aligning with Saudi Vision 2030 to improve traffic flow and overall customer experience through advanced technologies.
• In August 2024, the Riyadh Municipality initiated Phase I of the Riyadh Parking Project to enhance urban life through smart solutions. The initiative will create over 24,000 public parking spaces and manage 140,000 in residential areas across 12 districts, in collaboration with Remat Al-Riyadh Development Co. and stc solutions.

Saudi Arabia Smart Parking Market Report Coverage:

Key Questions Answered in This Report:

• How has the Saudi Arabia smart parking market performed so far and how will it perform in the coming years?
• What is the breakup of the Saudi Arabia smart parking market on the basis of system?
• What is the breakup of the Saudi Arabia smart parking market on the basis of technology?
• What is the breakup of the Saudi Arabia smart parking market on the basis of component?
• What is the breakup of the Saudi Arabia smart parking market on the basis of solution?
• What is the breakup of the Saudi Arabia smart parking market on the basis of vertical type?
• What is the breakup of the Saudi Arabia smart parking market on the basis of parking site?
• What is the breakup of the Saudi Arabia smart parking market on the basis of region?
• What are the various stages in the value chain of the Saudi Arabia smart parking market? 
• What are the key driving factors and challenges in the Saudi Arabia smart parking market?
• What is the structure of the Saudi Arabia smart parking market and who are the key players?
• What is the degree of competition in the Saudi Arabia smart parking 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 Saudi Arabia smart parking market from 2019-2033.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the Saudi Arabia smart parking 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 Saudi Arabia smart parking 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.