The parking industry is being revolutionized by new technologies that enable cities to reduce levels of traffic congestion, conserve fuel, and lessen air and noise pollution levels. Sensor networks that can detect vehicle occupancy are enabling smart parking systems, which give drivers real-time availability information that makes it easier to find a parking space. According to a recent report from Navigant Research, global revenues for smart parking systems is expected to total US$1.5 billion from 2015-2024.
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