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This article discusses the rapid integration of artificial intelligence (AI) and machine learning (ML) in smart parking solutions, which is expected to drive the global market to a value of US$ 39.2 billion by 2034. The increasing adoption of smart parking solutions in urban cities, driven by growing traffic congestion and infrastructure development projects, is also contributing to market growth. The article highlights the use of AI, ML, Internet of Things (IoT), and smart sensors in these solutions, as well as their popularity in North America and Europe. The Asia Pacific region is also expected to see a rise in deployment of smart parking solutions due to urbanization.
