China\’s Smart Parking Market Helps Solve Parking Crisis

October 11, 2022 ⚊ 1 Min read ⚊ Views 85 ⚊ BUSINESS

At present, there are many companies providing smart parking solutions in the Chinese market, with serious homogenization and fierce competition, leading most businesses to start price competition. Due to the fierce competition, the gross margin of smart parking solution providers is only 10%, so most of them extend their business to the operation of parking lots. Operating a smart parking lot can bring long-term sustainable and lucrative parking fee income to enterprises. Moreover, building and operating a smart parking lot requires a lot of capital, a strong operation team, and a good partnership with local governments.

Read details: https://www.bharatbook.com/blog/china-s-smart-parking-market-helps-solve-parking-crisis

Tags: China\'s Smart Parking Market

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