Page 10 - TT Aug-Sept pdf for digital
P. 10
UPDATE
Advanced airport car Global Smart Parking Market Forecast
parking system esearch & Markets has
come out with a forecast
n automated parking system
(AAPS) equipped with sensor- Rfor the global smart parking
Abased boom barrier, CCTV, market between 2024 and 2030
automatic ticket dispensers has predicting growth at CAGR of
been introduced by the Veer 14.7%. This includes robotic
Savarkar International Airport in parking systems, driverless Source: Depositphotos
Port Blair. The AAPS will provide parking technology and growing
transparent parking tariffs and penetration of IoT-based
significantly reduce the need for solutions for fully automated
manual intervention to manage parking systems.
traffic. The system will be utilized The Smart Parking Market
for ‘time-stamping’ at four strategic Pacific, the rapid urbanization
locations within the airport and grew from USD 10.79 billion rate, especially in China, Japan,
parking areas, enhancing accuracy in 2023 to USD 12.42 billion in and India, has resulted in
2024 and is expected to continue
and transparency for users and significant traffic congestion
service providers.This initiative is growing reaching USD 28.25 and a pressing need for efficient
in preparation for the start of the billion by 2030. parking solutions.
airport’s international operations While the growing urban Though the high initial
in November 2024. With a total population and increased investment costs for
built-up area of 40,837 sqm, the vehicle ownership, which lead to infrastructure setup and
new integrated terminal building congested cities, are expanding technology integration and data
is capable of handling 1,200 the need for efficient parking privacy and security concerns
passengers during peak hours and solutions, the growing availability associated with the collection
40 lakh passengers annually. of policies and investments and handling of user information
focused on smart city projects hampers market growth,
is expanding the scope of smart the growing development of
parking as a critical component. sophisticated algorithms for
Additionally, the increasing predictive analytics to improve
emphasis on reducing CO2 space utilization and traffic flow
emissions and optimizing space management is expected to
usage favours the adoption of create opportunities for market
smart parking systems. In Asia growth.
Thane Ring Metro Rail Project
he Union Cabinet has the new & old Thane railway
approved the Thane Integral stations. The project will also
TRing Metro Rail Project , that connect with Mumbai and
is expected to revolutionize Kalyan through the ongoing
urban mobility and real estate in metro lines 4 and 5. Out of
Thane. The Maharashtra Metro
Railway Corporation Limited will the 22 stations planned, the
spearhead the project. The Ring new and old Thane railway
Metro will link Thane’s remote stations will be constructed
residential and commercial hubs underground, ensuring seamless
– Wagle Estate, Ghodbunder, integration with the existing
Kolshet, and Saket – and both urban infrastructure. TT
10 TRAFFICINFRATECH / August-September 2024 / www.trafficinfratech.com
