A diverse set of technologies is being utilized to address the chronic parking and congestion challenges plaguing cities globally. While the deployment of sensor technologies continues to be core to the development of smart parking, many other technology innovations are also enabling more adaptable systems?including cameras, wireless communications, data analytics, induction loops, smart parking meters, and advanced algorithms. No single technology is a complete solution for every use case. A combination of different technologies is being utilized by city officials and parking operators to help transform parking into a more efficient, profitable, and sustainable industry. Over the past few years, there has been a discernable shift in the smart parking industry. The early stages of smart parking projects were marked by several large, high profile deployments?such as those in Moscow, San Francisco, and L's Angeles. Although these projects have demonstrated success in terms of reducing congestion, obtaining the necessary funding for similarly sized projects has proved challenging. Thus, while the quantity of projects has increased (particularly among smaller cities), the average project size has decreased. According to Navigant Research, the installed base of global on-street smart parking spaces is expected to reach 1.1 million by 2026. This Navigant Research report analyzes the evolution of smart parking technology and the smart parking systems market, with a particular focus on on-street parking. The study analyzes the drivers for the transformation in parking, including financial, environmental, and economic factors, and assesses approaches to parking in different regions. Global market forecasts of smart parking systems hardware, software, and services, broken out by segment and region, extend through 2026. The report also examines significant smart parking projects and case studies of major deployments from around the world, as well as the competitive landscape.