Parking Management Market Introduction

Parking management market is estimated to value over US $ 6.45 billion by the end of 2027 registering a CAGR of 8.3% during the forecast period of 2020 to 2027. 

The emergence of smart cities, rapid urbanization, focus on traffic control for reducing congestion ensuring a streamlined traffic flow, the advent of advanced connectivity and visual technologies and a reduction in the consumption of fuel are the factors that have led to the inception of parking management solution and services. Sensors providing parking availability status in real time, application for parking reservation, parking fee payment management, safety in parking facilities are all the areas of parking management that the revenue control and parking operations facilitate. Private sector players and governments are highly investing in the parking management system resulting in the growth of its market globally.   
The global parking management system is regionally segmented into North America, Europe, Asia Pacific, Latin America and the rest of the world. North America dominates this market due to a huge number of personal vehicles and very high investment in parking facility by the government as well as private players. The Asia Pacific is a fast-growing region and is expected to witness a meteoric rise during the forecast period due to the implementation of smart cities and adoption of advanced technologies at a rapid rate in emerging economies like India.
Solution wise, the global parking management system is segmented into analytics, parking guidance, enforcement, reservation management, PARC, permit and security & surveillance.
Based on deployment, the market is segmented into cloud deployment and on-premises deployment. The ease of accessibility and scalability of the organization no matter what the geographical location is are some of the advantages of using cloud deployment. This deployment will be efficient to use in highly populated areas where an on-site deployment wouldn’t be possible. Based on the parking site, the market is segmented into on-street and off-street. On-Street parking is anticipated to grow the most during the forecast period. But the advent of smart city initiative, high maintenance cost, customer service & fee collection and security will result in off-street parking site becoming the largest market segment holding a major market share. 

Key Market Players
Conduent (US), Amano Corporation (Japan), Q-Free ASA (Norway), Indigo Park Services (UK), Chetu (US), Streetline (US), SWARCO (Austria), T2 Systems (US), SKIDATA (Austria), Flowbird Group (France), INRIX (US), Flashparking (US), Parkmobile (US), Passport (US), SpotHero (US), TIBA Parking Systems (US), Urbiotica (Spain), Smart Parking (Australia), SAP (Germany), Siemens (Germany), APCOA (US), Bosch Mobility Solutions (Germany), GET MY PARKING (India), Nester (UAE), and NuPark (US)


Parking Management System Segmentation:
By Region
•    Europe
•    North America
•    Asia Pacific
•     Latin America
•     Rest of the World

By Solution
•    Analytics
•    Parking Guidance
•    Enforcement
•     Reservation Management
•     PARC
•     Permit
•     Security & Surveillance

By Deployment
•     Cloud
•    On-premises

By Parking Site
•    On-Street
•    Off-Street

By Service
•    Professional Services 
•    Managed Services

Competitive Landscape:
•    Tier 1 players- established companies in the market with a major market share 
•    Tier 2 players
•    Emerging players which are growing rapidly
•    New Entrants  

FutureWise Key Takeaways:
•    Growth prospects 
•    SWOT analysis
•     Key trends
•     Key data points affecting market growth 

Objectives of the Study:
•    To provide with an exhaustive analysis on the parking management market by region, by solution, by deployment, by parking site, by service 
•    To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
•    To evaluate and forecast micro-markets and the overall market 
•    To predict the market size, in key regions (along with countries)—North America, Europe, Asia Pacific, Latin America, and rest of the world
•    To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
•     Profiling of companies to evaluate their market shares, strategies, financials and core competencies 


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What you get

  • Excel Dataset

  • Infographics

  • PDF Report

  • Market Overview

  • PowerPoint Presentation

What's included

  • Consumer Perception and Procurement

  • Competitive Analysis

  • What’s Next

  • Market Data Forecast

  • Risks and Opportunity Assessment

  • Market Trends and Dynamics