The global parking management market size reached USD 3.77 Billion in 2020 and is expected to register a CAGR of 8.1%, during the forecast period, according to latest analysis by Emergen Research.
Increasing need for more effective use of parking areas is expected to drive global parking management market revenue growth during the forecast period. In addition, rising number of vehicles globally is expected to propel growth of the global parking management market revenue going ahead. Furthermore, increasing adoption of Artificial Intelligence (AI) based services is expected to boost global parking management market growth.
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The research study presents an industry-wide summary of the Parking Management Market including drivers, constraints, technological advancements, product developments, limitations, growth strategies, growth prospects, etc. among others. The global Parking Management Market research report is an investigative study of the market that offers key statistical data with regards to market size, market share, revenue growth, and CAGR over the forecast period 2021-2028.
Key players in the market include Amano Corporation, Siemens AG, Conduent Inc., T2 Systems, Inc., APCOA Parking AG, IPS Group, Inc., FlashParking, Inc., Q-Free ASA, ParkMobile USA, Inc., and Cleverciti Systems GmbH
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Emergen Research has segmented the global parking management market on the basis of offering, services, solutions, deployment, parking site, end-use, and region:
Offering Outlook (Revenue, USD Billion; 2018–2028)
Services
Solutions
Service Outlook (Revenue, USD Billion; 2018–2028)
Support & Maintenance
System Integration
Consulting
Solution Outlook (Revenue, USD Billion; 2018–2028)
Security & Surveillance
Valet Parking
Parking Reservation
Revenue Management
Access Control
Others
Deployment Outlook (Revenue, USD Billion; 2018–2028)
Cloud
On-premises
Parking Site Outlook (Revenue, USD Billion; 2018–2028)
Off-street
On-street
End-use Outlook (Revenue, USD Billion; 2018–2028)
Commercial
Transportation
Government
Key Highlights from the Report
The solution segment revenue is expected to expand at a significant CAGR during the forecast period. Increasing adoption of parking management solutions by end-users is expected to boost this segment’s revenue growth.
The support & maintenance segment is expected to account for higher revenue share over the forecast period due to rising partnership among parking management solution providers and support & maintenance service providers to boost the agility of parking management solutions.
Increasing demand for revenue management solutions is expected to drive revenue growth of the global parking management market to a significant extent during the forecast period.
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The Global Parking Management Market is further analyzed across the key geographical locations where the market has expanded to a significant size. The key region analyzed are North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The report offers a country-wise analysis to provide a comprehensive analysis of the Parking Management market in terms of production and consumption patterns, supply and demand ratio, import/export, revenue contribution, trends, and presence of prominent players in each region.
Regional Analysis Covers:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Questions Addressed in the Report:
Who are the leading players in the Parking Management industry?
Which region is expected to dominate the market in the coming years?
What are the key applications of Parking Management?
Which segment is expected to garner traction during the coming years?
What are the key strategies adopted by leading players in the market?
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