Parking Management Market by Offering (Solutions (Parking Guidance, Parking Reservation Management) and Services (Professional Services and Managed Services)), Parking Site (Off-Street and On-Street), Application and Region - Global Forecast to 2028
The solutions segment is projected to grow from USD 4.4 billion in 2023 and reach USD 6.3 billion by 2028. It is projected to grow at a CAGR of 7.4% during the forecast period. The parking management market offers various solutions and services that aim to improve the efficiency, speed, and convenience of parking for consumers. These solutions also benefit parking operators by adopting parking management technologies, driving growth, and enabling seamless communication between commuters and parking space operators.
Based on the parking site, the Off-Street Parking segment is expected to account for the largest market share during the forecast period
Parking facilities available in parking lots, garages, private driveways, and other areas are known as off-street parking. Commercial agencies typically manage these facilities and are highly efficient in holding vehicles. Proper design and construction are required to ensure drivers' safe and secure parking experience. This segment focuses on security, pre-booking parking spots, and parking fee management. Innovations in this sector include using robotic valet systems to improve parking management.
Based on the application, the transport transit segment is expected to grow at the highest CAGR during the forecast period
The transport transit sector is crucial in promoting parking management through various innovative measures and strategic initiatives. One of the key ways this sector contributes is by integrating public transportation options with efficient parking facilities. Transit agencies are actively developing park-and-ride facilities, strategically locating parking lots near transit hubs such as bus stations, train stations, and subway terminals. This integration encourages commuters to park their vehicles at these facilities and continue their journey using public transit, reducing the number of cars on the road and alleviating congestion in urban areas.
Based on region, the North American segment is expected to account for the largest market share during the forecast period
The North American market has stringent government standards and regulations, ensuring parking management is regulated and controlled. The region’s major growth driver is the investment in parking management solutions to enhance driver and commuter convenience. The US and Canada are extensively implementing parking management solutions, primarily due to the increasing adoption of mobile devices and the growing focus on managing traffic congestion.
The North American parking management market is the top revenue generator among all regional markets. This is due to the introduction of advanced parking management technologies and the increasing sale of vehicles in the region. The development of ICT has made it possible to reduce congestion, provide real-time information, prevent accidents, enforce speed and traffic rules, and decrease revenue leakages.
The break-up of the profile of primary participants in the Parking Management Market:
The study contains insights from various industry experts, from solution vendors to Tier 1 companies. The break-up of the primaries is as follows:
Research Coverage
The market study covers the Parking Management market size across different segments. It aims at estimating the market size and the growth potential across different segments, including offerings, solutions, services, professional services, parking sites, applications, and regions. The study includes an in-depth competitive analysis of the leading market players, their company profiles, key observations related to product and business offerings, recent developments, and market strategies.
Key Benefits of Buying the Report
The report will help the market leaders/new entrants with information on the closest approximations of the Parking Management market’s revenue numbers and subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. Moreover, the report will provide insights for stakeholders to understand the market’s pulse and provide them with information on key market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
Based on the parking site, the Off-Street Parking segment is expected to account for the largest market share during the forecast period
Parking facilities available in parking lots, garages, private driveways, and other areas are known as off-street parking. Commercial agencies typically manage these facilities and are highly efficient in holding vehicles. Proper design and construction are required to ensure drivers' safe and secure parking experience. This segment focuses on security, pre-booking parking spots, and parking fee management. Innovations in this sector include using robotic valet systems to improve parking management.
Based on the application, the transport transit segment is expected to grow at the highest CAGR during the forecast period
The transport transit sector is crucial in promoting parking management through various innovative measures and strategic initiatives. One of the key ways this sector contributes is by integrating public transportation options with efficient parking facilities. Transit agencies are actively developing park-and-ride facilities, strategically locating parking lots near transit hubs such as bus stations, train stations, and subway terminals. This integration encourages commuters to park their vehicles at these facilities and continue their journey using public transit, reducing the number of cars on the road and alleviating congestion in urban areas.
Based on region, the North American segment is expected to account for the largest market share during the forecast period
The North American market has stringent government standards and regulations, ensuring parking management is regulated and controlled. The region’s major growth driver is the investment in parking management solutions to enhance driver and commuter convenience. The US and Canada are extensively implementing parking management solutions, primarily due to the increasing adoption of mobile devices and the growing focus on managing traffic congestion.
The North American parking management market is the top revenue generator among all regional markets. This is due to the introduction of advanced parking management technologies and the increasing sale of vehicles in the region. The development of ICT has made it possible to reduce congestion, provide real-time information, prevent accidents, enforce speed and traffic rules, and decrease revenue leakages.
The break-up of the profile of primary participants in the Parking Management Market:
The study contains insights from various industry experts, from solution vendors to Tier 1 companies. The break-up of the primaries is as follows:
- By Company Type: Tier 1 – 30%, Tier 2 – 42%, and Tier 3 – 28%
- By Designation: C-level –48%, D-level – 30%, and Others – 22%
- By Region: North America – 20%, Europe – 25%, Asia Pacific – 40%, Middle East and Africa – 10%, and Latin America – 5%
Research Coverage
The market study covers the Parking Management market size across different segments. It aims at estimating the market size and the growth potential across different segments, including offerings, solutions, services, professional services, parking sites, applications, and regions. The study includes an in-depth competitive analysis of the leading market players, their company profiles, key observations related to product and business offerings, recent developments, and market strategies.
Key Benefits of Buying the Report
The report will help the market leaders/new entrants with information on the closest approximations of the Parking Management market’s revenue numbers and subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. Moreover, the report will provide insights for stakeholders to understand the market’s pulse and provide them with information on key market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
- Analysis of key drivers (Increasing urbanization to increase demand for parking spaces, Growing demand for seamless traffic flow and reduction in fuel consumption, Increase in global motor vehicle sales), restraints (System integration complexities), opportunities (Rising smart city initiative globally, Emergence of autonomous cars, Demand for innovative parking management solutions), and challenges (High implementation costs, Data security and privacy issues related to IoT devices, Disruption in logistics and supply chain of IoT devices) influencing the growth of the Parking Management market.
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the Parking Management market.
- Market Development: Comprehensive information about lucrative markets – the report analyses the Parking Management market across varied regions
- Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the Parking Management market.
- Competitive Assessment: In-depth assessment of market shares, growth strategies and service offerings of leading players like Group Indigo (France), Amano (Japan), Siemens (Germany), Bosch Group (Germany), Atos (France), SWARCO (Austria), SKIDATA (Austria), Chetu (US), Precise Parklink (Canada), FlashParking (US), Passport Labs (US), SpotHero (US), Get My Parking (India), INRIX (US), IPS Group (US), Smart Parking (Australia), TIBA Parking Systems (Israel), Q-Free (Norway), Streetline (US), ParkOffice (US), Urbiotica (Spain), CivicSmart (US), etc.
1 INTRODUCTION
1.1 STUDY OBJECTIVES
1.2 MARKET DEFINITION
1.2.1 INCLUSIONS AND EXCLUSIONS
1.3 MARKET SCOPE
1.3.1 MARKET SEGMENTATION
1.3.2 REGIONS COVERED
1.3.3 YEARS CONSIDERED
1.4 CURRENCY CONSIDERED
TABLE 1 USD EXCHANGE RATES, 2020–2022
1.5 STAKEHOLDERS
1.6 SUMMARY OF CHANGES
1.6.1 RECESSION IMPACT
2 RESEARCH METHODOLOGY
2.1 RESEARCH DATA
FIGURE 1 PARKING MANAGEMENT MARKET: RESEARCH DESIGN
2.1.1 SECONDARY DATA
2.1.1.1 Secondary sources
2.1.2 PRIMARY DATA
2.1.2.1 Primary interviews
2.1.2.2 Breakup of primaries
2.1.2.3 Key industry insights
2.2 MARKET BREAKUP AND DATA TRIANGULATION
FIGURE 2 DATA TRIANGULATION
2.3 MARKET SIZE ESTIMATION
FIGURE 3 MARKET SIZE ESTIMATION METHODOLOGY ? APPROACH 1 (SUPPLY SIDE): REVENUE OF SOLUTIONS AND SERVICES OF PARKING MANAGEMENT MARKET
FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY ? APPROACH 1- BOTTOM-UP (SUPPLY SIDE): COLLECTIVE REVENUE OF SOLUTIONS AND SERVICES IN PARKING MANAGEMENT MARKET
FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY? APPROACH 2 (DEMAND SIDE): PARKING MANAGEMENT MARKET
2.4 MARKET FORECAST
TABLE 2 FACTOR ANALYSIS
2.5 RESEARCH ASSUMPTIONS AND LIMITATIONS
2.5.1 STUDY ASSUMPTIONS
2.5.2 LIMITATIONS
2.6 IMPLICATION OF RECESSION ON PARKING MANAGEMENT MARKET
FIGURE 6 PARKING MANAGEMENT MARKET TO WITNESS SLIGHT DIP IN Y-O-Y IN 2023
3 EXECUTIVE SUMMARY
FIGURE 7 PARKING MANAGEMENT MARKET, 2023–2028 (USD MILLION)
FIGURE 8 PARKING MANAGEMENT MARKET, BY REGION, 2023
4 PREMIUM INSIGHTS
4.1 BRIEF OVERVIEW OF PARKING MANAGEMENT MARKET
FIGURE 9 INCREASING DEMAND FOR CONNECTED DEVICES TO DRIVE MARKET
4.2 PARKING MANAGEMENT MARKET SHARE, BY OFFERING
FIGURE 10 SOLUTIONS SEGMENT TO HOLD LARGEST MARKET SHARE IN 2023
4.3 PARKING MANAGEMENT MARKET SHARE, BY PARKING SITE
FIGURE 11 OFF-STREET PARKING TO HOLD LARGER MARKET SHARE IN 2023
4.4 PARKING MANAGEMENT MARKET SHARE, BY TOP THREE SOLUTIONS
FIGURE 12 PARKING ACCESS AND REVENUE CONTROL TO HOLD LARGEST MARKET SHARE IN 2023
4.5 PARKING MANAGEMENT MARKET SHARE, BY APPLICATION
FIGURE 13 GOVERNMENT SEGMENT TO HOLD LARGEST MARKET SHARE IN 2023
5 MARKET OVERVIEW AND INDUSTRY TRENDS
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
FIGURE 14 PARKING MANAGEMENT MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
5.2.1 DRIVERS
5.2.1.1 Growing urbanization to increase demand for parking spaces
5.2.1.2 Growing demand for seamless traffic flow and reduction in fuel consumption
5.2.1.3 Increase in global motor vehicle sales
FIGURE 15 GLOBAL MOTOR VEHICLE SALES, 2019-2022
5.2.1.4 Proliferation of mobile and smartphones
5.2.2 RESTRAINTS
5.2.2.1 System integration complexities
5.2.3 OPPORTUNITIES
5.2.3.1 Rising smart city initiatives globally
TABLE 3 SMART CITY INITIATIVES AND INVESTMENTS
5.2.3.2 Emergence of autonomous cars
5.2.3.3 Demand for innovative parking management solutions
5.2.4 CHALLENGES
5.2.4.1 High implementation cost
5.2.4.2 Data security and privacy issues related to IoT devices
5.2.4.3 Disruption in logistics and supply chain of IoT devices
5.3 INDUSTRY TRENDS
5.3.1 BRIEF HISTORY OF PARKING MANAGEMENT TECHNOLOGY
5.3.1.1 Evolution of parking management
5.3.2 VALUE CHAIN ANALYSIS
FIGURE 16 PARKING MANAGEMENT MARKET: VALUE CHAIN ANALYSIS
5.3.3 ECOSYSTEM
FIGURE 17 PARKING MANAGEMENT MARKET: ECOSYSTEM/MARKET MAP
TABLE 4 PARKING MANAGEMENT MARKET: ECOSYSTEM
5.3.4 PATENT ANALYSIS
5.3.4.1 Innovation and patent applications
FIGURE 18 TOTAL NUMBER OF PATENTS, 2020–2023
5.3.4.1.1 Top applicants
FIGURE 19 PATENT APPLICANTS WITH HIGHEST NUMBER OF PATENT APPLICATIONS, 2019–2023
5.3.5 PRICING ANALYSIS
5.3.5.1 Average selling price of key players
TABLE 5 PRICING ANALYSIS
5.3.6 PORTER’S FIVE FORCE MODEL
TABLE 6 IMPACT OF EACH FORCE ON PARKING MANAGEMENT MARKET
FIGURE 20 PORTER’S FIVE FORCES MODEL: PARKING MANAGEMENT MARKET
5.3.6.1 Threat of new entrants
5.3.6.2 Threat of substitutes
5.3.6.3 Bargaining power of buyers
5.3.6.4 Bargaining power of suppliers
5.3.6.5 Intensity of competitive rivalry
5.3.7 ETHICS AND IMPLICATIONS OF PARKING MANAGEMENT
5.3.7.1 Bias and fairness
5.3.7.2 Privacy and security
5.3.7.3 Intellectual property
5.3.7.4 Accountability and responsibility
5.3.7.5 Societal and economic impact
5.3.8 TECHNOLOGY ANALYSIS
5.3.8.1 Related technologies
5.3.8.1.1 Artificial Intelligence
5.3.8.1.2 Big data and analytics
5.3.8.1.3 Internet of Things
5.3.8.1.4 Edge computing
5.3.8.1.5 5G Network
5.3.9 CURRENT AND EMERGING BUSINESS MODELS
5.3.9.1 Mobility as a service (MaaS)
5.3.9.2 Shared parking
5.3.9.3 Smart parking
5.3.9.4 Parking as a Service (PaaS)
5.3.10 REGULATORY LANDSCAPE
5.3.10.1 Regulatory bodies, government agencies, and other organizations
TABLE 7 NORTH AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 8 EUROPE: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 9 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 10 ROW: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
5.3.11 KEY CONFERENCES AND EVENTS, 2023–2024
TABLE 11 DETAILED LIST OF CONFERENCES AND EVENTS, 2023–2024
5.3.12 USE CASES
5.3.13 FUTURE LANDSCAPE OF PARKING MANAGEMENT MARKET
5.3.13.1 Parking management technology roadmap till 2030
5.3.13.1.1 Short-term roadmap (2023-2025):
5.3.13.1.2 Mid-term roadmap (2026-2028):
5.3.13.1.3 Long-term roadmap (2028-2030):
5.3.14 KEY STAKEHOLDERS AND BUYING CRITERIA
5.3.14.1 Key stakeholders in buying process
FIGURE 21 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE VERTICALS
TABLE 12 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE VERTICALS
5.3.14.2 Buying criteria
FIGURE 22 KEY BUYING CRITERIA FOR TOP THREE VERTICALS
TABLE 13 KEY BUYING CRITERIA FOR TOP THREE VERTICALS
5.3.15 TRENDS/DISRUPTIONS IMPACTING BUYERS/CLIENTS IN PARKING MANAGEMENT MARKET
FIGURE 23 TRENDS/DISRUPTIONS IMPACTING BUYERS/CLIENTS
6 PARKING MANAGEMENT MARKET, BY OFFERING
6.1 INTRODUCTION
FIGURE 24 SERVICES SEGMENT TO GROW AT HIGHER CAGR DURING FORECAST PERIOD
6.1.1 OFFERINGS: PARKING MANAGEMENT MARKET DRIVERS
TABLE 14 PARKING MANAGEMENT MARKET, BY OFFERING, 2018–2022 (USD MILLION)
TABLE 15 PARKING MANAGEMENT MARKET, BY OFFERING, 2023–2028 (USD MILLION)
6.2 SOLUTIONS
6.2.1 SOLUTIONS TO BOOST REVENUE BY MAXIMIZING AVAILABLE PARKING SPACES AND REDUCING OPERATIONAL AND CAPITAL EXPENDITURE
TABLE 16 SOLUTIONS: PARKING MANAGEMENT MARKET, BY REGION, 2018–2022 (USD MILLION)
TABLE 17 SOLUTIONS: PARKING MANAGEMENT MARKET, BY REGION, 2023–2028 (USD MILLION)
6.3 SERVICES
6.3.1 ORGANIZATIONS ACROSS VARIOUS SECTORS TO ENHANCE PERFORMANCE BY OPTIMIZING PARKING OPERATIONS
TABLE 18 SERVICES: PARKING MANAGEMENT MARKET, BY REGION, 2018–2022 (USD MILLION)
TABLE 19 SERVICES: PARKING MANAGEMENT MARKET, BY REGION, 2023–2028 (USD MILLION)
7 PARKING MANAGEMENT MARKET, BY SOLUTION
7.1 INTRODUCTION
FIGURE 25 PARKING GUIDANCE SEGMENT TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
7.1.1 SOLUTIONS: PARKING MANAGEMENT MARKET DRIVERS
TABLE 20 PARKING MANAGEMENT MARKET, BY SOLUTION, 2018–2022 (USD MILLION)
TABLE 21 PARKING MANAGEMENT MARKET, BY SOLUTION, 2023–2028 (USD MILLION)
7.2 PARKING GUIDANCE
7.2.1 RISING NEED FOR REDUCED TRAFFIC CONGESTION AND SHORT TRAVEL TIME TO DRIVE GROWTH
TABLE 22 PARKING GUIDANCE: PARKING MANAGEMENT MARKET, BY REGION, 2018–2022 (USD MILLION)
TABLE 23 PARKING GUIDANCE: PARKING MANAGEMENT MARKET, BY REGION, 2023–2028 (USD MILLION)
7.3 PARKING RESERVATION MANAGEMENT
7.3.1 DEMAND FOR CONVENIENCE PARKING SPACES TO PROPEL MARKET
TABLE 24 PARKING RESERVATION MANAGEMENT: PARKING MANAGEMENT MARKET, BY REGION, 2018–2022 (USD MILLION)
TABLE 25 PARKING RESERVATION MANAGEMENT: PARKING MANAGEMENT MARKET, BY REGION, 2023–2028 (USD MILLION)
7.4 PARKING PERMIT MANAGEMENT
7.4.1 GROWING NEED TO MANAGE PARKING PERMITS
TABLE 26 PARKING PERMIT MANAGEMENT: PARKING MANAGEMENT MARKET, BY REGION, 2018–2022 (USD MILLION)
TABLE 27 PARKING PERMIT MANAGEMENT: PARKING MANAGEMENT MARKET, BY REGION, 2023–2028 (USD MILLION)
7.5 PARKING ENFORCEMENT MANAGEMENT
7.5.1 NEED FOR STRICT ADHERENCE TO PARKING RULES TO DRIVE POPULARITY OF PARKING MANAGEMENT SOLUTIONS
TABLE 28 PARKING ENFORCEMENT MANAGEMENT: PARKING MANAGEMENT MARKET, BY REGION, 2018–2022 (USD MILLION)
TABLE 29 PARKING ENFORCEMENT MANAGEMENT: PARKING MANAGEMENT MARKET, BY REGION, 2023–2028 (USD MILLION)
7.6 PARKING ACCESS AND REVENUE CONTROL
7.6.1 NEED FOR PROPER ORGANIZATION OF VEHICLES IN PARKING FACILITIES TO DRIVE MARKET
TABLE 30 PARKING ACCESS AND REVENUE CONTROL: PARKING MANAGEMENT MARKET, BY REGION, 2018–2022 (USD MILLION)
TABLE 31 PARKING ACCESS AND REVENUE CONTROL: PARKING MANAGEMENT MARKET, BY REGION, 2023–2028 (USD MILLION)
7.7 PARKING SECURITY AND SURVEILLANCE
7.7.1 GROWING NEED TO PREVENT THEFT AND KEEP PEOPLE PROTECTED
TABLE 32 PARKING SECURITY AND SURVEILLANCE: PARKING MANAGEMENT MARKET, BY REGION, 2018–2022 (USD MILLION)
TABLE 33 PARKING SECURITY AND SURVEILLANCE: PARKING MANAGEMENT MARKET, BY REGION, 2023–2028 (USD MILLION)
7.8 PARKING ANALYTICS
7.8.1 NEED TO REDUCE COSTS ASSOCIATED WITH PARKING OPERATIONS AND PATROLLING TO PROMOTE USE OF PARKING ANALYTICS
TABLE 34 PARKING ANALYTICS: PARKING MANAGEMENT MARKET, BY REGION, 2018–2022 (USD MILLION)
TABLE 35 PARKING ANALYTICS: PARKING MANAGEMENT MARKET, BY REGION, 2023–2028 (USD MILLION)
8 PARKING MANAGEMENT MARKET, BY SERVICE
8.1 INTRODUCTION
FIGURE 26 MANAGED SERVICES SEGMENT TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
8.1.1 SERVICES: PARKING MANAGEMENT MARKET DRIVERS
TABLE 36 PARKING MANAGEMENT MARKET, BY SERVICE, 2018–2022 (USD MILLION)
TABLE 37 PARKING MANAGEMENT MARKET, BY SERVICE, 2023–2028 (USD MILLION)
8.2 PROFESSIONAL SERVICES
8.2.1 DEMAND FOR INNOVATIVE PARKING MANAGEMENT SOLUTIONS TO BOOST ADOPTION OF PROFESSIONAL PARKING SERVICES
TABLE 38 PARKING MANAGEMENT MARKET, BY PROFESSIONAL SERVICE, 2018–2022 (USD MILLION)
TABLE 39 PARKING MANAGEMENT MARKET, BY PROFESSIONAL SERVICE, 2023–2028 (USD MILLION)
TABLE 40 PROFESSIONAL SERVICES: PARKING MANAGEMENT MARKET, BY REGION, 2018–2022 (USD MILLION)
TABLE 41 PROFESSIONAL SERVICES: PARKING MANAGEMENT MARKET, BY REGION, 2023–2028 (USD MILLION)
8.2.2 CONSULTING & TRAINING
8.2.2.1 Need to develop and arrange better practices to address specific management requirements to drive market
TABLE 42 CONSULTING & TRAINING: PARKING MANAGEMENT MARKET, BY REGION, 2018–2022 (USD MILLION)
TABLE 43 CONSULTING & TRAINING: PARKING MANAGEMENT MARKET, BY REGION, 2023–2028 (USD MILLION)
8.2.3 SYSTEM INTEGRATION & DEPLOYMENT
8.2.3.1 Need to improve decision-making, enhance efficiency, and reduce costs to propel growth
TABLE 44 SYSTEM INTEGRATION & DEPLOYMENT: PARKING MANAGEMENT MARKET, BY REGION, 2018–2022 (USD MILLION)
TABLE 45 SYSTEM INTEGRATION & DEPLOYMENT: PARKING MANAGEMENT MARKET, BY REGION, 2023–2028 (USD MILLION)
8.2.4 SUPPORT & MAINTENANCE
8.2.4.1 Demand to enhance management and performance of parking management solutions to boost growth
TABLE 46 SUPPORT & MAINTENANCE: PARKING MANAGEMENT MARKET, BY REGION, 2018–2022 (USD MILLION)
TABLE 47 SUPPORT & MAINTENANCE: PARKING MANAGEMENT MARKET, BY REGION, 2023–2028 (USD MILLION)
8.3 MANAGED SERVICES
8.3.1 MANAGED SERVICES TO OFFER TECHNICAL SKILLS REQUIRED TO MAINTAIN AND UPDATE PARKING MANAGEMENT SOFTWARE
TABLE 48 MANAGED SERVICES: PARKING MANAGEMENT MARKET, BY REGION, 2018–2022 (USD MILLION)
TABLE 49 MANAGED SERVICES: PARKING MANAGEMENT MARKET, BY REGION, 2023–2028 (USD MILLION)
9 PARKING MANAGEMENT MARKET, BY PARKING SITE
9.1 INTRODUCTION
FIGURE 27 OFF-STREET PARKING SEGMENT TO GROW AT HIGHER CAGR DURING FORECAST PERIOD
9.1.1 PARKING SITES: PARKING MANAGEMENT MARKET DRIVERS
TABLE 50 PARKING MANAGEMENT MARKET, BY PARKING SITE, 2018–2022 (USD MILLION)
TABLE 51 PARKING MANAGEMENT MARKET, BY PARKING SITE, 2023–2028 (USD MILLION)
9.2 OFF-STREET PARKING
9.2.1 FOCUS ON SECURITY, PRE-BOOKING OF PARKING SPOTS, AND PARKING FEE MANAGEMENT TO BOOST GROWTH
TABLE 52 OFF-STREET PARKING: PARKING MANAGEMENT MARKET, BY REGION, 2018–2022 (USD MILLION)
TABLE 53 OFF-STREET PARKING: PARKING MANAGEMENT MARKET, BY REGION, 2023–2028 (USD MILLION)
9.3 ON-STREET PARKING
9.3.1 AVAILABILITY OF ON-STREET PARKING NEAR COMMERCIAL AREAS TO ENCOURAGE MARKET GROWTH
TABLE 54 ON-STREET PARKING: PARKING MANAGEMENT MARKET, BY REGION, 2018–2022 (USD MILLION)
TABLE 55 ON-STREET PARKING: PARKING MANAGEMENT MARKET, BY REGION, 2023–2028 (USD MILLION)
10 PARKING MANAGEMENT MARKET, BY APPLICATION
10.1 INTRODUCTION
FIGURE 28 TRANSPORT TRANSIT PARKING SEGMENT TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
10.1.1 APPLICATION: PARKING MANAGEMENT MARKET DRIVERS
TABLE 56 PARKING MANAGEMENT MARKET, BY APPLICATION, 2018–2022 (USD MILLION)
TABLE 57 PARKING MANAGEMENT MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
10.2 GOVERNMENT
10.2.1 GOVERNMENT TO CONSTRUCT MORE PUBLIC PARKING SPOTS TO ACCOMMODATE DEMAND FOR PARKING IN METROPOLITAN AREAS
TABLE 58 GOVERNMENT: PARKING MANAGEMENT MARKET, BY REGION, 2018–2022 (USD MILLION)
TABLE 59 GOVERNMENT: PARKING MANAGEMENT MARKET, BY REGION, 2023–2028 (USD MILLION)
10.3 COMMERCIAL
10.3.1 PARKING MANAGEMENT SOFTWARE TO HELP COMMERCIAL BUSINESSES TO AUTOMATE PARKING OPERATIONS, TRACK PARKING REVENUE, AND MANAGE PARKING SPACES
TABLE 60 COMMERCIAL: PARKING MANAGEMENT MARKET, BY REGION, 2018–2022 (USD MILLION)
TABLE 61 COMMERCIAL: PARKING MANAGEMENT MARKET, BY REGION, 2023–2028 (USD MILLION)
10.4 TRANSPORT TRANSIT
10.4.1 SMART SYSTEMS TO ENABLE PARKING OPERATORS TO MONITOR OCCUPANCY RATES AND OPTIMIZE SPACE UTILIZATION
TABLE 62 TRANSPORT TRANSIT: PARKING MANAGEMENT MARKET, BY REGION, 2018–2022 (USD MILLION)
TABLE 63 TRANSPORT TRANSIT: PARKING MANAGEMENT MARKET, BY REGION, 2023–2028 (USD MILLION)
11 PARKING MANAGEMENT MARKET, BY REGION
11.1 INTRODUCTION
TABLE 64 PARKING MANAGEMENT MARKET, BY REGION, 2018–2022 (USD MILLION)
TABLE 65 PARKING MANAGEMENT MARKET, BY REGION, 2023–2028 (USD MILLION)
11.2 NORTH AMERICA
11.2.1 NORTH AMERICA: RECESSION IMPACT
11.2.2 NORTH AMERICA: PARKING MANAGEMENT MARKET DRIVERS
FIGURE 29 NORTH AMERICA: MARKET SNAPSHOT
TABLE 66 NORTH AMERICA: PARKING MANAGEMENT MARKET, BY OFFERING, 2018–2022 (USD MILLION)
TABLE 67 NORTH AMERICA: PARKING MANAGEMENT MARKET, BY OFFERING, 2023–2028 (USD MILLION)
TABLE 68 NORTH AMERICA: PARKING MANAGEMENT MARKET, BY SOLUTION, 2018–2022 (USD MILLION)
TABLE 69 NORTH AMERICA: PARKING MANAGEMENT MARKET, BY SOLUTION, 2023–2028 (USD MILLION)
TABLE 70 NORTH AMERICA: PARKING MANAGEMENT MARKET, BY SERVICE, 2018–2022 (USD MILLION)
TABLE 71 NORTH AMERICA: PARKING MANAGEMENT MARKET, BY SERVICE, 2023–2028 (USD MILLION)
TABLE 72 NORTH AMERICA: PARKING MANAGEMENT MARKET, BY PROFESSIONAL SERVICE, 2018–2022 (USD MILLION)
TABLE 73 NORTH AMERICA: PARKING MANAGEMENT MARKET, BY PROFESSIONAL SERVICE, 2023–2028 (USD MILLION)
TABLE 74 NORTH AMERICA: PARKING MANAGEMENT MARKET, BY PARKING SITE, 2018–2022 (USD MILLION)
TABLE 75 NORTH AMERICA: PARKING MANAGEMENT MARKET, BY PARKING SITE, 2023–2028 (USD MILLION)
TABLE 76 NORTH AMERICA: PARKING MANAGEMENT MARKET, BY APPLICATION, 2018–2022 (USD MILLION)
TABLE 77 NORTH AMERICA: PARKING MANAGEMENT MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
TABLE 78 NORTH AMERICA: PARKING MANAGEMENT MARKET, BY COUNTRY, 2018–2022 (USD MILLION)
TABLE 79 NORTH AMERICA: PARKING MANAGEMENT MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
11.2.3 US
11.2.3.1 Need to decrease traffic and reduce accidents to drive market
TABLE 80 US: PARKING MANAGEMENT MARKET, BY OFFERING, 2018–2022 (USD MILLION)
TABLE 81 US: PARKING MANAGEMENT MARKET, BY OFFERING, 2023–2028 (USD MILLION)
TABLE 82 US: PARKING MANAGEMENT MARKET, BY SOLUTION, 2018–2022 (USD MILLION)
TABLE 83 US: PARKING MANAGEMENT MARKET, BY SOLUTION, 2023–2028 (USD MILLION)
TABLE 84 US: PARKING MANAGEMENT MARKET, BY SERVICE, 2018–2022 (USD MILLION)
TABLE 85 US: PARKING MANAGEMENT MARKET, BY SERVICE, 2023–2028 (USD MILLION)
TABLE 86 US: PARKING MANAGEMENT MARKET, BY PROFESSIONAL SERVICE, 2018–2022 (USD MILLION)
TABLE 87 US: PARKING MANAGEMENT MARKET, BY PROFESSIONAL SERVICE, 2023–2028 (USD MILLION)
TABLE 88 US: PARKING MANAGEMENT MARKET, BY PARKING SITE, 2018–2022 (USD MILLION)
TABLE 89 US: PARKING MANAGEMENT MARKET, BY PARKING SITE, 2023–2028 (USD MILLION)
TABLE 90 US: PARKING MANAGEMENT MARKET, BY APPLICATION, 2018–2022 (USD MILLION)
TABLE 91 US: PARKING MANAGEMENT MARKET, BY APPLICATION 2023–2028 (USD MILLION)
11.2.4 CANADA
11.2.4.1 Focus on improving efficiency of parking management solutions to drive growth
TABLE 92 CANADA: PARKING MANAGEMENT MARKET, BY OFFERING, 2018–2022 (USD MILLION)
TABLE 93 CANADA: PARKING MANAGEMENT MARKET, BY OFFERING, 2023–2028 (USD MILLION)
TABLE 94 CANADA: PARKING MANAGEMENT MARKET, BY SOLUTION, 2018–2022 (USD MILLION)
TABLE 95 CANADA: PARKING MANAGEMENT MARKET, BY SOLUTION, 2023–2028 (USD MILLION)
TABLE 96 CANADA: PARKING MANAGEMENT MARKET, BY SERVICE, 2018–2022 (USD MILLION)
TABLE 97 CANADA: PARKING MANAGEMENT MARKET, BY SERVICE, 2023–2028 (USD MILLION)
TABLE 98 CANADA: PARKING MANAGEMENT MARKET, BY PROFESSIONAL SERVICE, 2018–2022 (USD MILLION)
TABLE 99 CANADA: PARKING MANAGEMENT MARKET, BY PROFESSIONAL SERVICE, 2023–2028 (USD MILLION)
TABLE 100 CANADA: PARKING MANAGEMENT MARKET, BY PARKING SITE, 2018–2022 (USD MILLION)
TABLE 101 CANADA: PARKING MANAGEMENT MARKET, BY PARKING SITE, 2023–2028 (USD MILLION)
TABLE 102 CANADA: PARKING MANAGEMENT MARKET, BY APPLICATION 2018–2022 (USD MILLION)
TABLE 103 CANADA: PARKING MANAGEMENT MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
11.3 EUROPE
11.3.1 EUROPE: RECESSION IMPACT
11.3.2 EUROPE: PARKING MANAGEMENT MARKET DRIVERS
TABLE 104 EUROPE: PARKING MANAGEMENT MARKET, BY OFFERING, 2018–2022 (USD MILLION)
TABLE 105 EUROPE: PARKING MANAGEMENT MARKET, BY OFFERING, 2023–2028 (USD MILLION)
TABLE 106 EUROPE: PARKING MANAGEMENT MARKET, BY SOLUTION, 2018–2022 (USD MILLION)
TABLE 107 EUROPE: PARKING MANAGEMENT MARKET, BY SOLUTION, 2023–2028 (USD MILLION)
TABLE 108 EUROPE: PARKING MANAGEMENT MARKET, BY SERVICE, 2018–2022 (USD MILLION)
TABLE 109 EUROPE: PARKING MANAGEMENT MARKET, BY SERVICE, 2023–2028 (USD MILLION)
TABLE 110 EUROPE: PARKING MANAGEMENT MARKET, BY PROFESSIONAL SERVICE, 2018–2022 (USD MILLION)
TABLE 111 EUROPE: PARKING MANAGEMENT MARKET, BY PROFESSIONAL SERVICE, 2023–2028 (USD MILLION)
TABLE 112 EUROPE: PARKING MANAGEMENT MARKET, BY PARKING SITE, 2018–2022 (USD MILLION)
TABLE 113 EUROPE: PARKING MANAGEMENT MARKET, BY PARKING SITE, 2023–2028 (USD MILLION)
TABLE 114 EUROPE: PARKING MANAGEMENT MARKET, BY APPLICATION, 2018–2022 (USD MILLION)
TABLE 115 EUROPE: PARKING MANAGEMENT MARKET, BY APPLICATION 2023–2028 (USD MILLION)
TABLE 116 EUROPE: PARKING MANAGEMENT MARKET, BY COUNTRY, 2018–2022 (USD MILLION)
TABLE 117 EUROPE: PARKING MANAGEMENT MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
11.3.3 UK
11.3.3.1 Adoption of new technologies to transform parking facilities to boost growth
11.3.4 GERMANY
11.3.4.1 Focus of companies on technological advancements to drive popularity of smart parking sensors
11.3.5 FRANCE
11.3.5.1 Rising need to upgrade parking facilities with latest technologies to drive growth
11.3.6 REST OF EUROPE
11.4 ASIA PACIFIC
11.4.1 ASIA PACIFIC: RECESSION IMPACT
11.4.2 ASIA PACIFIC: PARKING MANAGEMENT MARKET DRIVERS
FIGURE 30 ASIA PACIFIC: MARKET SNAPSHOT
TABLE 118 ASIA PACIFIC: PARKING MANAGEMENT MARKET, BY OFFERING, 2018–2022 (USD MILLION)
TABLE 119 ASIA PACIFIC: PARKING MANAGEMENT MARKET, BY OFFERING, 2023–2028 (USD MILLION)
TABLE 120 ASIA PACIFIC: PARKING MANAGEMENT MARKET, BY SOLUTION, 2018–2022 (USD MILLION)
TABLE 121 ASIA PACIFIC: PARKING MANAGEMENT MARKET, BY SOLUTION, 2023–2028 (USD MILLION)
TABLE 122 ASIA PACIFIC: PARKING MANAGEMENT MARKET, BY SERVICE, 2018–2022 (USD MILLION)
TABLE 123 ASIA PACIFIC: PARKING MANAGEMENT MARKET, BY SERVICE, 2023–2028 (USD MILLION)
TABLE 124 ASIA PACIFIC: PARKING MANAGEMENT MARKET, BY PROFESSIONAL SERVICE, 2018–2022 (USD MILLION)
TABLE 125 ASIA PACIFIC: PARKING MANAGEMENT MARKET, BY PROFESSIONAL SERVICE, 2023–2028 (USD MILLION)
TABLE 126 ASIA PACIFIC: PARKING MANAGEMENT MARKET, BY PARKING SITE, 2018–2022 (USD MILLION)
TABLE 127 ASIA PACIFIC: PARKING MANAGEMENT MARKET, BY PARKING SITE, 2023–2028 (USD MILLION)
TABLE 128 ASIA PACIFIC: PARKING MANAGEMENT MARKET, BY APPLICATION, 2018–2022 (USD MILLION)
TABLE 129 ASIA PACIFIC: PARKING MANAGEMENT MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
TABLE 130 ASIA PACIFIC: PARKING MANAGEMENT MARKET, BY COUNTRY, 2018–2022 (USD MILLION)
TABLE 131 ASIA PACIFIC: PARKING MANAGEMENT MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
11.4.3 CHINA
11.4.3.1 Substantial investments in digital technologies to drive growth
11.4.4 JAPAN
11.4.4.1 Increasing number of vehicles and scarcity of land to boost growth of parking management solutions
11.4.5 SOUTH KOREA
11.4.5.1 Adoption of technology-based transportation systems to propel growth
11.4.6 REST OF ASIA PACIFIC
11.5 LATIN AMERICA
11.5.1 LATIN AMERICA: RECESSION IMPACT
11.5.2 LATIN AMERICA: PARKING MANAGEMENT MARKET DRIVERS
TABLE 132 LATIN AMERICA: PARKING MANAGEMENT MARKET, BY OFFERING, 2018–2022 (USD MILLION)
TABLE 133 LATIN AMERICA: PARKING MANAGEMENT MARKET, BY OFFERING, 2023–2028 (USD MILLION)
TABLE 134 LATIN AMERICA: PARKING MANAGEMENT MARKET, BY SOLUTION, 2018–2022 (USD MILLION)
TABLE 135 LATIN AMERICA: PARKING MANAGEMENT MARKET, BY SOLUTION, 2023–2028 (USD MILLION)
TABLE 136 LATIN AMERICA: PARKING MANAGEMENT MARKET, BY SERVICE, 2018–2022 (USD MILLION)
TABLE 137 LATIN AMERICA: PARKING MANAGEMENT MARKET, BY SERVICE, 2023–2028 (USD MILLION)
TABLE 138 LATIN AMERICA: PARKING MANAGEMENT MARKET, BY PROFESSIONAL SERVICE, 2018–2022 (USD MILLION)
TABLE 139 LATIN AMERICA: PARKING MANAGEMENT MARKET, BY PROFESSIONAL SERVICE, 2023–2028 (USD MILLION)
TABLE 140 LATIN AMERICA: PARKING MANAGEMENT MARKET, BY PARKING SITE, 2018–2022 (USD MILLION)
TABLE 141 LATIN AMERICA: PARKING MANAGEMENT MARKET, BY PARKING SITE, 2023–2028 (USD MILLION)
TABLE 142 LATIN AMERICA: PARKING MANAGEMENT MARKET, BY APPLICATION, 2018–2022 (USD MILLION)
TABLE 143 LATIN AMERICA: PARKING MANAGEMENT MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
TABLE 144 LATIN AMERICA: PARKING MANAGEMENT MARKET, BY COUNTRY, 2018–2022 (USD MILLION)
TABLE 145 LATIN AMERICA: PARKING MANAGEMENT MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
11.5.3 BRAZIL
11.5.3.1 Thriving startup ecosystem to drive popularity of parking management solutions
11.5.4 MEXICO
11.5.4.1 Need for improved environmental quality to fuel demand for smart parking solutions
11.5.5 REST OF LATIN AMERICA
11.6 MIDDLE EAST & AFRICA
11.6.1 MIDDLE EAST & AFRICA: RECESSION IMPACT
11.6.2 MIDDLE EAST & AFRICA: PARKING MANAGEMENT MARKET DRIVERS
TABLE 146 MIDDLE EAST & AFRICA: PARKING MANAGEMENT MARKET, BY OFFERING, 2018–2022 (USD MILLION)
TABLE 147 MIDDLE EAST & AFRICA: PARKING MANAGEMENT MARKET, BY OFFERING, 2023–2028 (USD MILLION)
TABLE 148 MIDDLE EAST & AFRICA: PARKING MANAGEMENT MARKET, BY SOLUTION, 2018–2022 (USD MILLION)
TABLE 149 MIDDLE EAST & AFRICA: PARKING MANAGEMENT MARKET, BY SOLUTION, 2023–2028 (USD MILLION)
TABLE 150 MIDDLE EAST & AFRICA: PARKING MANAGEMENT MARKET, BY SERVICE, 2018–2022 (USD MILLION)
TABLE 151 MIDDLE EAST & AFRICA: PARKING MANAGEMENT MARKET, BY SERVICE, 2023–2028 (USD MILLION)
TABLE 152 MIDDLE EAST & AFRICA: PARKING MANAGEMENT MARKET, BY PROFESSIONAL SERVICE, 2018–2022 (USD MILLION)
TABLE 153 MIDDLE EAST & AFRICA: PARKING MANAGEMENT MARKET, BY PROFESSIONAL SERVICE, 2023–2028 (USD MILLION)
TABLE 154 MIDDLE EAST & AFRICA: PARKING MANAGEMENT MARKET, BY PARKING SITE, 2018–2022 (USD MILLION)
TABLE 155 MIDDLE EAST & AFRICA: PARKING MANAGEMENT MARKET, BY PARKING SITE, 2023–2028 (USD MILLION)
TABLE 156 MIDDLE EAST & AFRICA: PARKING MANAGEMENT MARKET, BY APPLICATION, 2018–2022 (USD MILLION)
TABLE 157 MIDDLE EAST & AFRICA: PARKING MANAGEMENT MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
TABLE 158 MIDDLE EAST & AFRICA: PARKING MANAGEMENT MARKET, BY COUNTRY, 2018–2022 (USD MILLION)
TABLE 159 MIDDLE EAST & AFRICA: PARKING MANAGEMENT MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
11.6.3 UAE
11.6.3.1 Increase in number of vehicles and need to organize parking management systems to boost growth
11.6.4 SOUTH AFRICA
11.6.4.1 Popularity of mobile application-based parking management solutions to drive growth
11.6.5 ISRAEL
11.6.5.1 Demand for adequate parking space to boost adoption of parking management solutions
11.6.6 REST OF MIDDLE EAST & AFRICA
12 COMPETITIVE LANDSCAPE
12.1 INTRODUCTION
12.2 STRATEGIES ADOPTED BY KEY PLAYERS
TABLE 160 OVERVIEW OF STRATEGIES ADOPTED BY KEY PLAYERS
12.3 HISTORICAL REVENUE ANALYSIS
FIGURE 31 HISTORICAL REVENUE ANALYSIS OF KEY PLAYERS, 2020–2022 (USD MILLION)
12.4 MARKET SHARE ANALYSIS OF KEY PLAYERS
TABLE 161 PARKING MANAGEMENT MARKET: DEGREE OF COMPETITION
12.5 COMPETITIVE BENCHMARKING
TABLE 162 COMPETITIVE BENCHMARKING OF KEY PLAYERS
12.6 COMPANY EVALUATION MATRIX METHODOLOGY FOR KEY PLAYERS
FIGURE 32 COMPANY EVALUATION MATRIX FOR KEY PLAYERS: CRITERIA WEIGHTAGE
12.7 COMPANY EVALUATION MATRIX FOR KEY PLAYERS
12.7.1 STARS
12.7.2 EMERGING LEADERS
12.7.3 PERVASIVE PLAYERS
12.7.4 PARTICIPANTS
FIGURE 33 COMPANY EVALUATION MATRIX FOR KEY PLAYERS, 2023
12.8 COMPETITIVE SCENARIO
12.8.1 PRODUCT LAUNCHES
TABLE 163 PRODUCT LAUNCHES, 2021–2023
12.8.2 DEALS
TABLE 164 DEALS, 2020–2023
13 COMPANY PROFILES
13.1 KEY PLAYERS
(Business overview, Products/Solutions/Services offered, Recent developments, MnM view, Key strengths, Strategic choices, and Weaknesses and competitive threats)*
13.1.1 GROUP INDIGO
TABLE 165 GROUP INDIGO: BUSINESS OVERVIEW
FIGURE 34 GROUP INDIGO: COMPANY SNAPSHOT
TABLE 166 GROUP INDIGO: SOLUTIONS /SERVICES OFFERED
TABLE 167 GROUP INDIGO: SOLUTION/SERVICE LAUNCHES
TABLE 168 GROUP INDIGO: DEALS
13.1.2 AMANO
TABLE 169 AMANO: BUSINESS OVERVIEW
FIGURE 35 AMANO: COMPANY SNAPSHOT
TABLE 170 AMANO: SOLUTIONS /SERVICES OFFERED
TABLE 171 AMANO: SOLUTION/SERVICE LAUNCHES
TABLE 172 AMANO: DEALS
13.1.3 SIEMENS
TABLE 173 SIEMENS: BUSINESS OVERVIEW
FIGURE 36 SIEMENS: COMPANY SNAPSHOT
TABLE 174 SIEMENS: SOLUTIONS /SERVICES OFFERED
TABLE 175 SIEMENS: SOLUTION/SERVICE LAUNCHES
TABLE 176 SIEMENS: DEALS
13.1.4 BOSCH GROUP
TABLE 177 BOSCH GROUP: BUSINESS OVERVIEW
FIGURE 37 BOSCH GROUP: COMPANY SNAPSHOT
TABLE 178 BOSCH GROUP: SOLUTIONS /SERVICES OFFERED
TABLE 179 BOSCH:DEALS
13.1.5 ATOS
TABLE 180 ATOS: BUSINESS OVERVIEW
FIGURE 38 ATOS: COMPANY SNAPSHOT
TABLE 181 ATOS: SOLUTIONS/ SERVICES OFFERED
TABLE 182 ATOS: DEALS
13.1.6 SWARCO
TABLE 183 SWARCO: BUSINESS OVERVIEW
TABLE 184 SWARCO: SOLUTIONS/ SERVICES OFFERED
TABLE 185 SWARCO:SOLUTION/SERVICE LAUNCHES
13.1.7 SKIDATA
TABLE 186 SKIDATA: BUSINESS OVERVIEW
TABLE 187 SKIDATA: SOLUTIONS / SERVICES OFFERED
TABLE 188 SKIDATA: DEALS
13.1.8 CHETU
TABLE 189 CHETU: BUSINESS OVERVIEW
TABLE 190 CHETU: SOLUTIONS /SERVICES OFFERED
13.1.9 PRECISE PARKLINK
13.1.10 FLASHPARKING
13.1.11 PASSPORT LABS
13.1.12 SPOTHERO
13.1.13 GET MY PARKING
13.1.14 INRIX
13.1.15 IPS GROUP
13.1.16 SMART PARKING
13.1.17 TIBA PARKING SYSTEMS
13.1.18 Q-FREE
13.1.19 STREETLINE
13.1.20 PARKOFFICE
13.1.21 URBIOTICA
13.1.22 CIVICSMART
*Details on Business overview, Products/Solutions/Services offered, Recent developments, MnM view, Key strengths, Strategic choices, and Weaknesses and competitive threats might not be captured in case of unlisted companies.
14 ADJACENT/RELATED MARKETS
14.1 INTRODUCTION
14.2 TRAFFIC MANAGEMENT MARKET – GLOBAL FORECAST TO 2027
14.2.1 MARKET DEFINITION
14.2.2 MARKET OVERVIEW
14.2.2.1 Traffic management market, by component
TABLE 191 TRAFFIC MANAGEMENT MARKET, BY COMPONENT, 2017–2021 (USD MILLION)
TABLE 192 TRAFFIC MANAGEMENT MARKET, BY COMPONENT, 2022–2027 (USD MILLION)
14.2.2.2 Traffic management market, by solution
TABLE 193 TRAFFIC MANAGEMENT MARKET, BY SOLUTION, 2017–2021 (USD MILLION)
TABLE 194 TRAFFIC MANAGEMENT MARKET, BY SOLUTION, 2022–2027 (USD MILLION)
14.2.2.3 Traffic management market, by hardware
TABLE 195 TRAFFIC MANAGEMENT MARKET, BY HARDWARE, 2017–2021 (USD MILLION)
TABLE 196 TRAFFIC MANAGEMENT MARKET, BY HARDWARE, 2022–2027 (USD MILLION)
14.2.2.4 Traffic management market, by service
TABLE 197 TRAFFIC MANAGEMENT MARKET, BY SERVICE, 2017–2021 (USD MILLION)
TABLE 198 TRAFFIC MANAGEMENT MARKET, BY SERVICE, 2022–2027 (USD MILLION)
14.2.2.5 Traffic management market, by region
TABLE 199 TRAFFIC MANAGEMENT MARKET, BY REGION, 2017–2021 (USD MILLION)
TABLE 200 TRAFFIC MANAGEMENT MARKET, BY REGION, 2022–2027 (USD MILLION)
14.3 FLEET MANAGEMENT MARKET – GLOBAL FORECAST TO 2027
14.3.1 MARKET DEFINITION
14.3.2 MARKET OVERVIEW
14.3.2.1 Fleet management market, by component
TABLE 201 FLEET MANAGEMENT MARKET, BY COMPONENT, 2017–2021 (USD MILLION)
TABLE 202 FLEET MANAGEMENT MARKET, BY COMPONENT, 2022–2027 (USD MILLION)
14.3.2.2 Fleet management market, by deployment type
TABLE 203 FLEET MANAGEMENT MARKET, BY DEPLOYMENT TYPE, 2017–2021 (USD MILLION)
TABLE 204 FLEET MANAGEMENT MARKET, BY DEPLOYMENT TYPE, 2022–2027 (USD MILLION)
14.3.2.3 Fleet management market, by fleet type
TABLE 205 FLEET MANAGEMENT MARKET, BY FLEET TYPE, 2017–2021 (USD MILLION)
TABLE 206 FLEET MANAGEMENT MARKET, BY FLEET TYPE, 2022–2027 (USD MILLION)
15 APPENDIX
15.1 DISCUSSION GUIDE
15.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
15.3 CUSTOMIZATION OPTIONS
15.4 RELATED REPORTS
15.5 AUTHOR DETAILS
1.1 STUDY OBJECTIVES
1.2 MARKET DEFINITION
1.2.1 INCLUSIONS AND EXCLUSIONS
1.3 MARKET SCOPE
1.3.1 MARKET SEGMENTATION
1.3.2 REGIONS COVERED
1.3.3 YEARS CONSIDERED
1.4 CURRENCY CONSIDERED
TABLE 1 USD EXCHANGE RATES, 2020–2022
1.5 STAKEHOLDERS
1.6 SUMMARY OF CHANGES
1.6.1 RECESSION IMPACT
2 RESEARCH METHODOLOGY
2.1 RESEARCH DATA
FIGURE 1 PARKING MANAGEMENT MARKET: RESEARCH DESIGN
2.1.1 SECONDARY DATA
2.1.1.1 Secondary sources
2.1.2 PRIMARY DATA
2.1.2.1 Primary interviews
2.1.2.2 Breakup of primaries
2.1.2.3 Key industry insights
2.2 MARKET BREAKUP AND DATA TRIANGULATION
FIGURE 2 DATA TRIANGULATION
2.3 MARKET SIZE ESTIMATION
FIGURE 3 MARKET SIZE ESTIMATION METHODOLOGY ? APPROACH 1 (SUPPLY SIDE): REVENUE OF SOLUTIONS AND SERVICES OF PARKING MANAGEMENT MARKET
FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY ? APPROACH 1- BOTTOM-UP (SUPPLY SIDE): COLLECTIVE REVENUE OF SOLUTIONS AND SERVICES IN PARKING MANAGEMENT MARKET
FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY? APPROACH 2 (DEMAND SIDE): PARKING MANAGEMENT MARKET
2.4 MARKET FORECAST
TABLE 2 FACTOR ANALYSIS
2.5 RESEARCH ASSUMPTIONS AND LIMITATIONS
2.5.1 STUDY ASSUMPTIONS
2.5.2 LIMITATIONS
2.6 IMPLICATION OF RECESSION ON PARKING MANAGEMENT MARKET
FIGURE 6 PARKING MANAGEMENT MARKET TO WITNESS SLIGHT DIP IN Y-O-Y IN 2023
3 EXECUTIVE SUMMARY
FIGURE 7 PARKING MANAGEMENT MARKET, 2023–2028 (USD MILLION)
FIGURE 8 PARKING MANAGEMENT MARKET, BY REGION, 2023
4 PREMIUM INSIGHTS
4.1 BRIEF OVERVIEW OF PARKING MANAGEMENT MARKET
FIGURE 9 INCREASING DEMAND FOR CONNECTED DEVICES TO DRIVE MARKET
4.2 PARKING MANAGEMENT MARKET SHARE, BY OFFERING
FIGURE 10 SOLUTIONS SEGMENT TO HOLD LARGEST MARKET SHARE IN 2023
4.3 PARKING MANAGEMENT MARKET SHARE, BY PARKING SITE
FIGURE 11 OFF-STREET PARKING TO HOLD LARGER MARKET SHARE IN 2023
4.4 PARKING MANAGEMENT MARKET SHARE, BY TOP THREE SOLUTIONS
FIGURE 12 PARKING ACCESS AND REVENUE CONTROL TO HOLD LARGEST MARKET SHARE IN 2023
4.5 PARKING MANAGEMENT MARKET SHARE, BY APPLICATION
FIGURE 13 GOVERNMENT SEGMENT TO HOLD LARGEST MARKET SHARE IN 2023
5 MARKET OVERVIEW AND INDUSTRY TRENDS
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
FIGURE 14 PARKING MANAGEMENT MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
5.2.1 DRIVERS
5.2.1.1 Growing urbanization to increase demand for parking spaces
5.2.1.2 Growing demand for seamless traffic flow and reduction in fuel consumption
5.2.1.3 Increase in global motor vehicle sales
FIGURE 15 GLOBAL MOTOR VEHICLE SALES, 2019-2022
5.2.1.4 Proliferation of mobile and smartphones
5.2.2 RESTRAINTS
5.2.2.1 System integration complexities
5.2.3 OPPORTUNITIES
5.2.3.1 Rising smart city initiatives globally
TABLE 3 SMART CITY INITIATIVES AND INVESTMENTS
5.2.3.2 Emergence of autonomous cars
5.2.3.3 Demand for innovative parking management solutions
5.2.4 CHALLENGES
5.2.4.1 High implementation cost
5.2.4.2 Data security and privacy issues related to IoT devices
5.2.4.3 Disruption in logistics and supply chain of IoT devices
5.3 INDUSTRY TRENDS
5.3.1 BRIEF HISTORY OF PARKING MANAGEMENT TECHNOLOGY
5.3.1.1 Evolution of parking management
5.3.2 VALUE CHAIN ANALYSIS
FIGURE 16 PARKING MANAGEMENT MARKET: VALUE CHAIN ANALYSIS
5.3.3 ECOSYSTEM
FIGURE 17 PARKING MANAGEMENT MARKET: ECOSYSTEM/MARKET MAP
TABLE 4 PARKING MANAGEMENT MARKET: ECOSYSTEM
5.3.4 PATENT ANALYSIS
5.3.4.1 Innovation and patent applications
FIGURE 18 TOTAL NUMBER OF PATENTS, 2020–2023
5.3.4.1.1 Top applicants
FIGURE 19 PATENT APPLICANTS WITH HIGHEST NUMBER OF PATENT APPLICATIONS, 2019–2023
5.3.5 PRICING ANALYSIS
5.3.5.1 Average selling price of key players
TABLE 5 PRICING ANALYSIS
5.3.6 PORTER’S FIVE FORCE MODEL
TABLE 6 IMPACT OF EACH FORCE ON PARKING MANAGEMENT MARKET
FIGURE 20 PORTER’S FIVE FORCES MODEL: PARKING MANAGEMENT MARKET
5.3.6.1 Threat of new entrants
5.3.6.2 Threat of substitutes
5.3.6.3 Bargaining power of buyers
5.3.6.4 Bargaining power of suppliers
5.3.6.5 Intensity of competitive rivalry
5.3.7 ETHICS AND IMPLICATIONS OF PARKING MANAGEMENT
5.3.7.1 Bias and fairness
5.3.7.2 Privacy and security
5.3.7.3 Intellectual property
5.3.7.4 Accountability and responsibility
5.3.7.5 Societal and economic impact
5.3.8 TECHNOLOGY ANALYSIS
5.3.8.1 Related technologies
5.3.8.1.1 Artificial Intelligence
5.3.8.1.2 Big data and analytics
5.3.8.1.3 Internet of Things
5.3.8.1.4 Edge computing
5.3.8.1.5 5G Network
5.3.9 CURRENT AND EMERGING BUSINESS MODELS
5.3.9.1 Mobility as a service (MaaS)
5.3.9.2 Shared parking
5.3.9.3 Smart parking
5.3.9.4 Parking as a Service (PaaS)
5.3.10 REGULATORY LANDSCAPE
5.3.10.1 Regulatory bodies, government agencies, and other organizations
TABLE 7 NORTH AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 8 EUROPE: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 9 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 10 ROW: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
5.3.11 KEY CONFERENCES AND EVENTS, 2023–2024
TABLE 11 DETAILED LIST OF CONFERENCES AND EVENTS, 2023–2024
5.3.12 USE CASES
5.3.13 FUTURE LANDSCAPE OF PARKING MANAGEMENT MARKET
5.3.13.1 Parking management technology roadmap till 2030
5.3.13.1.1 Short-term roadmap (2023-2025):
5.3.13.1.2 Mid-term roadmap (2026-2028):
5.3.13.1.3 Long-term roadmap (2028-2030):
5.3.14 KEY STAKEHOLDERS AND BUYING CRITERIA
5.3.14.1 Key stakeholders in buying process
FIGURE 21 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE VERTICALS
TABLE 12 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE VERTICALS
5.3.14.2 Buying criteria
FIGURE 22 KEY BUYING CRITERIA FOR TOP THREE VERTICALS
TABLE 13 KEY BUYING CRITERIA FOR TOP THREE VERTICALS
5.3.15 TRENDS/DISRUPTIONS IMPACTING BUYERS/CLIENTS IN PARKING MANAGEMENT MARKET
FIGURE 23 TRENDS/DISRUPTIONS IMPACTING BUYERS/CLIENTS
6 PARKING MANAGEMENT MARKET, BY OFFERING
6.1 INTRODUCTION
FIGURE 24 SERVICES SEGMENT TO GROW AT HIGHER CAGR DURING FORECAST PERIOD
6.1.1 OFFERINGS: PARKING MANAGEMENT MARKET DRIVERS
TABLE 14 PARKING MANAGEMENT MARKET, BY OFFERING, 2018–2022 (USD MILLION)
TABLE 15 PARKING MANAGEMENT MARKET, BY OFFERING, 2023–2028 (USD MILLION)
6.2 SOLUTIONS
6.2.1 SOLUTIONS TO BOOST REVENUE BY MAXIMIZING AVAILABLE PARKING SPACES AND REDUCING OPERATIONAL AND CAPITAL EXPENDITURE
TABLE 16 SOLUTIONS: PARKING MANAGEMENT MARKET, BY REGION, 2018–2022 (USD MILLION)
TABLE 17 SOLUTIONS: PARKING MANAGEMENT MARKET, BY REGION, 2023–2028 (USD MILLION)
6.3 SERVICES
6.3.1 ORGANIZATIONS ACROSS VARIOUS SECTORS TO ENHANCE PERFORMANCE BY OPTIMIZING PARKING OPERATIONS
TABLE 18 SERVICES: PARKING MANAGEMENT MARKET, BY REGION, 2018–2022 (USD MILLION)
TABLE 19 SERVICES: PARKING MANAGEMENT MARKET, BY REGION, 2023–2028 (USD MILLION)
7 PARKING MANAGEMENT MARKET, BY SOLUTION
7.1 INTRODUCTION
FIGURE 25 PARKING GUIDANCE SEGMENT TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
7.1.1 SOLUTIONS: PARKING MANAGEMENT MARKET DRIVERS
TABLE 20 PARKING MANAGEMENT MARKET, BY SOLUTION, 2018–2022 (USD MILLION)
TABLE 21 PARKING MANAGEMENT MARKET, BY SOLUTION, 2023–2028 (USD MILLION)
7.2 PARKING GUIDANCE
7.2.1 RISING NEED FOR REDUCED TRAFFIC CONGESTION AND SHORT TRAVEL TIME TO DRIVE GROWTH
TABLE 22 PARKING GUIDANCE: PARKING MANAGEMENT MARKET, BY REGION, 2018–2022 (USD MILLION)
TABLE 23 PARKING GUIDANCE: PARKING MANAGEMENT MARKET, BY REGION, 2023–2028 (USD MILLION)
7.3 PARKING RESERVATION MANAGEMENT
7.3.1 DEMAND FOR CONVENIENCE PARKING SPACES TO PROPEL MARKET
TABLE 24 PARKING RESERVATION MANAGEMENT: PARKING MANAGEMENT MARKET, BY REGION, 2018–2022 (USD MILLION)
TABLE 25 PARKING RESERVATION MANAGEMENT: PARKING MANAGEMENT MARKET, BY REGION, 2023–2028 (USD MILLION)
7.4 PARKING PERMIT MANAGEMENT
7.4.1 GROWING NEED TO MANAGE PARKING PERMITS
TABLE 26 PARKING PERMIT MANAGEMENT: PARKING MANAGEMENT MARKET, BY REGION, 2018–2022 (USD MILLION)
TABLE 27 PARKING PERMIT MANAGEMENT: PARKING MANAGEMENT MARKET, BY REGION, 2023–2028 (USD MILLION)
7.5 PARKING ENFORCEMENT MANAGEMENT
7.5.1 NEED FOR STRICT ADHERENCE TO PARKING RULES TO DRIVE POPULARITY OF PARKING MANAGEMENT SOLUTIONS
TABLE 28 PARKING ENFORCEMENT MANAGEMENT: PARKING MANAGEMENT MARKET, BY REGION, 2018–2022 (USD MILLION)
TABLE 29 PARKING ENFORCEMENT MANAGEMENT: PARKING MANAGEMENT MARKET, BY REGION, 2023–2028 (USD MILLION)
7.6 PARKING ACCESS AND REVENUE CONTROL
7.6.1 NEED FOR PROPER ORGANIZATION OF VEHICLES IN PARKING FACILITIES TO DRIVE MARKET
TABLE 30 PARKING ACCESS AND REVENUE CONTROL: PARKING MANAGEMENT MARKET, BY REGION, 2018–2022 (USD MILLION)
TABLE 31 PARKING ACCESS AND REVENUE CONTROL: PARKING MANAGEMENT MARKET, BY REGION, 2023–2028 (USD MILLION)
7.7 PARKING SECURITY AND SURVEILLANCE
7.7.1 GROWING NEED TO PREVENT THEFT AND KEEP PEOPLE PROTECTED
TABLE 32 PARKING SECURITY AND SURVEILLANCE: PARKING MANAGEMENT MARKET, BY REGION, 2018–2022 (USD MILLION)
TABLE 33 PARKING SECURITY AND SURVEILLANCE: PARKING MANAGEMENT MARKET, BY REGION, 2023–2028 (USD MILLION)
7.8 PARKING ANALYTICS
7.8.1 NEED TO REDUCE COSTS ASSOCIATED WITH PARKING OPERATIONS AND PATROLLING TO PROMOTE USE OF PARKING ANALYTICS
TABLE 34 PARKING ANALYTICS: PARKING MANAGEMENT MARKET, BY REGION, 2018–2022 (USD MILLION)
TABLE 35 PARKING ANALYTICS: PARKING MANAGEMENT MARKET, BY REGION, 2023–2028 (USD MILLION)
8 PARKING MANAGEMENT MARKET, BY SERVICE
8.1 INTRODUCTION
FIGURE 26 MANAGED SERVICES SEGMENT TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
8.1.1 SERVICES: PARKING MANAGEMENT MARKET DRIVERS
TABLE 36 PARKING MANAGEMENT MARKET, BY SERVICE, 2018–2022 (USD MILLION)
TABLE 37 PARKING MANAGEMENT MARKET, BY SERVICE, 2023–2028 (USD MILLION)
8.2 PROFESSIONAL SERVICES
8.2.1 DEMAND FOR INNOVATIVE PARKING MANAGEMENT SOLUTIONS TO BOOST ADOPTION OF PROFESSIONAL PARKING SERVICES
TABLE 38 PARKING MANAGEMENT MARKET, BY PROFESSIONAL SERVICE, 2018–2022 (USD MILLION)
TABLE 39 PARKING MANAGEMENT MARKET, BY PROFESSIONAL SERVICE, 2023–2028 (USD MILLION)
TABLE 40 PROFESSIONAL SERVICES: PARKING MANAGEMENT MARKET, BY REGION, 2018–2022 (USD MILLION)
TABLE 41 PROFESSIONAL SERVICES: PARKING MANAGEMENT MARKET, BY REGION, 2023–2028 (USD MILLION)
8.2.2 CONSULTING & TRAINING
8.2.2.1 Need to develop and arrange better practices to address specific management requirements to drive market
TABLE 42 CONSULTING & TRAINING: PARKING MANAGEMENT MARKET, BY REGION, 2018–2022 (USD MILLION)
TABLE 43 CONSULTING & TRAINING: PARKING MANAGEMENT MARKET, BY REGION, 2023–2028 (USD MILLION)
8.2.3 SYSTEM INTEGRATION & DEPLOYMENT
8.2.3.1 Need to improve decision-making, enhance efficiency, and reduce costs to propel growth
TABLE 44 SYSTEM INTEGRATION & DEPLOYMENT: PARKING MANAGEMENT MARKET, BY REGION, 2018–2022 (USD MILLION)
TABLE 45 SYSTEM INTEGRATION & DEPLOYMENT: PARKING MANAGEMENT MARKET, BY REGION, 2023–2028 (USD MILLION)
8.2.4 SUPPORT & MAINTENANCE
8.2.4.1 Demand to enhance management and performance of parking management solutions to boost growth
TABLE 46 SUPPORT & MAINTENANCE: PARKING MANAGEMENT MARKET, BY REGION, 2018–2022 (USD MILLION)
TABLE 47 SUPPORT & MAINTENANCE: PARKING MANAGEMENT MARKET, BY REGION, 2023–2028 (USD MILLION)
8.3 MANAGED SERVICES
8.3.1 MANAGED SERVICES TO OFFER TECHNICAL SKILLS REQUIRED TO MAINTAIN AND UPDATE PARKING MANAGEMENT SOFTWARE
TABLE 48 MANAGED SERVICES: PARKING MANAGEMENT MARKET, BY REGION, 2018–2022 (USD MILLION)
TABLE 49 MANAGED SERVICES: PARKING MANAGEMENT MARKET, BY REGION, 2023–2028 (USD MILLION)
9 PARKING MANAGEMENT MARKET, BY PARKING SITE
9.1 INTRODUCTION
FIGURE 27 OFF-STREET PARKING SEGMENT TO GROW AT HIGHER CAGR DURING FORECAST PERIOD
9.1.1 PARKING SITES: PARKING MANAGEMENT MARKET DRIVERS
TABLE 50 PARKING MANAGEMENT MARKET, BY PARKING SITE, 2018–2022 (USD MILLION)
TABLE 51 PARKING MANAGEMENT MARKET, BY PARKING SITE, 2023–2028 (USD MILLION)
9.2 OFF-STREET PARKING
9.2.1 FOCUS ON SECURITY, PRE-BOOKING OF PARKING SPOTS, AND PARKING FEE MANAGEMENT TO BOOST GROWTH
TABLE 52 OFF-STREET PARKING: PARKING MANAGEMENT MARKET, BY REGION, 2018–2022 (USD MILLION)
TABLE 53 OFF-STREET PARKING: PARKING MANAGEMENT MARKET, BY REGION, 2023–2028 (USD MILLION)
9.3 ON-STREET PARKING
9.3.1 AVAILABILITY OF ON-STREET PARKING NEAR COMMERCIAL AREAS TO ENCOURAGE MARKET GROWTH
TABLE 54 ON-STREET PARKING: PARKING MANAGEMENT MARKET, BY REGION, 2018–2022 (USD MILLION)
TABLE 55 ON-STREET PARKING: PARKING MANAGEMENT MARKET, BY REGION, 2023–2028 (USD MILLION)
10 PARKING MANAGEMENT MARKET, BY APPLICATION
10.1 INTRODUCTION
FIGURE 28 TRANSPORT TRANSIT PARKING SEGMENT TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
10.1.1 APPLICATION: PARKING MANAGEMENT MARKET DRIVERS
TABLE 56 PARKING MANAGEMENT MARKET, BY APPLICATION, 2018–2022 (USD MILLION)
TABLE 57 PARKING MANAGEMENT MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
10.2 GOVERNMENT
10.2.1 GOVERNMENT TO CONSTRUCT MORE PUBLIC PARKING SPOTS TO ACCOMMODATE DEMAND FOR PARKING IN METROPOLITAN AREAS
TABLE 58 GOVERNMENT: PARKING MANAGEMENT MARKET, BY REGION, 2018–2022 (USD MILLION)
TABLE 59 GOVERNMENT: PARKING MANAGEMENT MARKET, BY REGION, 2023–2028 (USD MILLION)
10.3 COMMERCIAL
10.3.1 PARKING MANAGEMENT SOFTWARE TO HELP COMMERCIAL BUSINESSES TO AUTOMATE PARKING OPERATIONS, TRACK PARKING REVENUE, AND MANAGE PARKING SPACES
TABLE 60 COMMERCIAL: PARKING MANAGEMENT MARKET, BY REGION, 2018–2022 (USD MILLION)
TABLE 61 COMMERCIAL: PARKING MANAGEMENT MARKET, BY REGION, 2023–2028 (USD MILLION)
10.4 TRANSPORT TRANSIT
10.4.1 SMART SYSTEMS TO ENABLE PARKING OPERATORS TO MONITOR OCCUPANCY RATES AND OPTIMIZE SPACE UTILIZATION
TABLE 62 TRANSPORT TRANSIT: PARKING MANAGEMENT MARKET, BY REGION, 2018–2022 (USD MILLION)
TABLE 63 TRANSPORT TRANSIT: PARKING MANAGEMENT MARKET, BY REGION, 2023–2028 (USD MILLION)
11 PARKING MANAGEMENT MARKET, BY REGION
11.1 INTRODUCTION
TABLE 64 PARKING MANAGEMENT MARKET, BY REGION, 2018–2022 (USD MILLION)
TABLE 65 PARKING MANAGEMENT MARKET, BY REGION, 2023–2028 (USD MILLION)
11.2 NORTH AMERICA
11.2.1 NORTH AMERICA: RECESSION IMPACT
11.2.2 NORTH AMERICA: PARKING MANAGEMENT MARKET DRIVERS
FIGURE 29 NORTH AMERICA: MARKET SNAPSHOT
TABLE 66 NORTH AMERICA: PARKING MANAGEMENT MARKET, BY OFFERING, 2018–2022 (USD MILLION)
TABLE 67 NORTH AMERICA: PARKING MANAGEMENT MARKET, BY OFFERING, 2023–2028 (USD MILLION)
TABLE 68 NORTH AMERICA: PARKING MANAGEMENT MARKET, BY SOLUTION, 2018–2022 (USD MILLION)
TABLE 69 NORTH AMERICA: PARKING MANAGEMENT MARKET, BY SOLUTION, 2023–2028 (USD MILLION)
TABLE 70 NORTH AMERICA: PARKING MANAGEMENT MARKET, BY SERVICE, 2018–2022 (USD MILLION)
TABLE 71 NORTH AMERICA: PARKING MANAGEMENT MARKET, BY SERVICE, 2023–2028 (USD MILLION)
TABLE 72 NORTH AMERICA: PARKING MANAGEMENT MARKET, BY PROFESSIONAL SERVICE, 2018–2022 (USD MILLION)
TABLE 73 NORTH AMERICA: PARKING MANAGEMENT MARKET, BY PROFESSIONAL SERVICE, 2023–2028 (USD MILLION)
TABLE 74 NORTH AMERICA: PARKING MANAGEMENT MARKET, BY PARKING SITE, 2018–2022 (USD MILLION)
TABLE 75 NORTH AMERICA: PARKING MANAGEMENT MARKET, BY PARKING SITE, 2023–2028 (USD MILLION)
TABLE 76 NORTH AMERICA: PARKING MANAGEMENT MARKET, BY APPLICATION, 2018–2022 (USD MILLION)
TABLE 77 NORTH AMERICA: PARKING MANAGEMENT MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
TABLE 78 NORTH AMERICA: PARKING MANAGEMENT MARKET, BY COUNTRY, 2018–2022 (USD MILLION)
TABLE 79 NORTH AMERICA: PARKING MANAGEMENT MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
11.2.3 US
11.2.3.1 Need to decrease traffic and reduce accidents to drive market
TABLE 80 US: PARKING MANAGEMENT MARKET, BY OFFERING, 2018–2022 (USD MILLION)
TABLE 81 US: PARKING MANAGEMENT MARKET, BY OFFERING, 2023–2028 (USD MILLION)
TABLE 82 US: PARKING MANAGEMENT MARKET, BY SOLUTION, 2018–2022 (USD MILLION)
TABLE 83 US: PARKING MANAGEMENT MARKET, BY SOLUTION, 2023–2028 (USD MILLION)
TABLE 84 US: PARKING MANAGEMENT MARKET, BY SERVICE, 2018–2022 (USD MILLION)
TABLE 85 US: PARKING MANAGEMENT MARKET, BY SERVICE, 2023–2028 (USD MILLION)
TABLE 86 US: PARKING MANAGEMENT MARKET, BY PROFESSIONAL SERVICE, 2018–2022 (USD MILLION)
TABLE 87 US: PARKING MANAGEMENT MARKET, BY PROFESSIONAL SERVICE, 2023–2028 (USD MILLION)
TABLE 88 US: PARKING MANAGEMENT MARKET, BY PARKING SITE, 2018–2022 (USD MILLION)
TABLE 89 US: PARKING MANAGEMENT MARKET, BY PARKING SITE, 2023–2028 (USD MILLION)
TABLE 90 US: PARKING MANAGEMENT MARKET, BY APPLICATION, 2018–2022 (USD MILLION)
TABLE 91 US: PARKING MANAGEMENT MARKET, BY APPLICATION 2023–2028 (USD MILLION)
11.2.4 CANADA
11.2.4.1 Focus on improving efficiency of parking management solutions to drive growth
TABLE 92 CANADA: PARKING MANAGEMENT MARKET, BY OFFERING, 2018–2022 (USD MILLION)
TABLE 93 CANADA: PARKING MANAGEMENT MARKET, BY OFFERING, 2023–2028 (USD MILLION)
TABLE 94 CANADA: PARKING MANAGEMENT MARKET, BY SOLUTION, 2018–2022 (USD MILLION)
TABLE 95 CANADA: PARKING MANAGEMENT MARKET, BY SOLUTION, 2023–2028 (USD MILLION)
TABLE 96 CANADA: PARKING MANAGEMENT MARKET, BY SERVICE, 2018–2022 (USD MILLION)
TABLE 97 CANADA: PARKING MANAGEMENT MARKET, BY SERVICE, 2023–2028 (USD MILLION)
TABLE 98 CANADA: PARKING MANAGEMENT MARKET, BY PROFESSIONAL SERVICE, 2018–2022 (USD MILLION)
TABLE 99 CANADA: PARKING MANAGEMENT MARKET, BY PROFESSIONAL SERVICE, 2023–2028 (USD MILLION)
TABLE 100 CANADA: PARKING MANAGEMENT MARKET, BY PARKING SITE, 2018–2022 (USD MILLION)
TABLE 101 CANADA: PARKING MANAGEMENT MARKET, BY PARKING SITE, 2023–2028 (USD MILLION)
TABLE 102 CANADA: PARKING MANAGEMENT MARKET, BY APPLICATION 2018–2022 (USD MILLION)
TABLE 103 CANADA: PARKING MANAGEMENT MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
11.3 EUROPE
11.3.1 EUROPE: RECESSION IMPACT
11.3.2 EUROPE: PARKING MANAGEMENT MARKET DRIVERS
TABLE 104 EUROPE: PARKING MANAGEMENT MARKET, BY OFFERING, 2018–2022 (USD MILLION)
TABLE 105 EUROPE: PARKING MANAGEMENT MARKET, BY OFFERING, 2023–2028 (USD MILLION)
TABLE 106 EUROPE: PARKING MANAGEMENT MARKET, BY SOLUTION, 2018–2022 (USD MILLION)
TABLE 107 EUROPE: PARKING MANAGEMENT MARKET, BY SOLUTION, 2023–2028 (USD MILLION)
TABLE 108 EUROPE: PARKING MANAGEMENT MARKET, BY SERVICE, 2018–2022 (USD MILLION)
TABLE 109 EUROPE: PARKING MANAGEMENT MARKET, BY SERVICE, 2023–2028 (USD MILLION)
TABLE 110 EUROPE: PARKING MANAGEMENT MARKET, BY PROFESSIONAL SERVICE, 2018–2022 (USD MILLION)
TABLE 111 EUROPE: PARKING MANAGEMENT MARKET, BY PROFESSIONAL SERVICE, 2023–2028 (USD MILLION)
TABLE 112 EUROPE: PARKING MANAGEMENT MARKET, BY PARKING SITE, 2018–2022 (USD MILLION)
TABLE 113 EUROPE: PARKING MANAGEMENT MARKET, BY PARKING SITE, 2023–2028 (USD MILLION)
TABLE 114 EUROPE: PARKING MANAGEMENT MARKET, BY APPLICATION, 2018–2022 (USD MILLION)
TABLE 115 EUROPE: PARKING MANAGEMENT MARKET, BY APPLICATION 2023–2028 (USD MILLION)
TABLE 116 EUROPE: PARKING MANAGEMENT MARKET, BY COUNTRY, 2018–2022 (USD MILLION)
TABLE 117 EUROPE: PARKING MANAGEMENT MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
11.3.3 UK
11.3.3.1 Adoption of new technologies to transform parking facilities to boost growth
11.3.4 GERMANY
11.3.4.1 Focus of companies on technological advancements to drive popularity of smart parking sensors
11.3.5 FRANCE
11.3.5.1 Rising need to upgrade parking facilities with latest technologies to drive growth
11.3.6 REST OF EUROPE
11.4 ASIA PACIFIC
11.4.1 ASIA PACIFIC: RECESSION IMPACT
11.4.2 ASIA PACIFIC: PARKING MANAGEMENT MARKET DRIVERS
FIGURE 30 ASIA PACIFIC: MARKET SNAPSHOT
TABLE 118 ASIA PACIFIC: PARKING MANAGEMENT MARKET, BY OFFERING, 2018–2022 (USD MILLION)
TABLE 119 ASIA PACIFIC: PARKING MANAGEMENT MARKET, BY OFFERING, 2023–2028 (USD MILLION)
TABLE 120 ASIA PACIFIC: PARKING MANAGEMENT MARKET, BY SOLUTION, 2018–2022 (USD MILLION)
TABLE 121 ASIA PACIFIC: PARKING MANAGEMENT MARKET, BY SOLUTION, 2023–2028 (USD MILLION)
TABLE 122 ASIA PACIFIC: PARKING MANAGEMENT MARKET, BY SERVICE, 2018–2022 (USD MILLION)
TABLE 123 ASIA PACIFIC: PARKING MANAGEMENT MARKET, BY SERVICE, 2023–2028 (USD MILLION)
TABLE 124 ASIA PACIFIC: PARKING MANAGEMENT MARKET, BY PROFESSIONAL SERVICE, 2018–2022 (USD MILLION)
TABLE 125 ASIA PACIFIC: PARKING MANAGEMENT MARKET, BY PROFESSIONAL SERVICE, 2023–2028 (USD MILLION)
TABLE 126 ASIA PACIFIC: PARKING MANAGEMENT MARKET, BY PARKING SITE, 2018–2022 (USD MILLION)
TABLE 127 ASIA PACIFIC: PARKING MANAGEMENT MARKET, BY PARKING SITE, 2023–2028 (USD MILLION)
TABLE 128 ASIA PACIFIC: PARKING MANAGEMENT MARKET, BY APPLICATION, 2018–2022 (USD MILLION)
TABLE 129 ASIA PACIFIC: PARKING MANAGEMENT MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
TABLE 130 ASIA PACIFIC: PARKING MANAGEMENT MARKET, BY COUNTRY, 2018–2022 (USD MILLION)
TABLE 131 ASIA PACIFIC: PARKING MANAGEMENT MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
11.4.3 CHINA
11.4.3.1 Substantial investments in digital technologies to drive growth
11.4.4 JAPAN
11.4.4.1 Increasing number of vehicles and scarcity of land to boost growth of parking management solutions
11.4.5 SOUTH KOREA
11.4.5.1 Adoption of technology-based transportation systems to propel growth
11.4.6 REST OF ASIA PACIFIC
11.5 LATIN AMERICA
11.5.1 LATIN AMERICA: RECESSION IMPACT
11.5.2 LATIN AMERICA: PARKING MANAGEMENT MARKET DRIVERS
TABLE 132 LATIN AMERICA: PARKING MANAGEMENT MARKET, BY OFFERING, 2018–2022 (USD MILLION)
TABLE 133 LATIN AMERICA: PARKING MANAGEMENT MARKET, BY OFFERING, 2023–2028 (USD MILLION)
TABLE 134 LATIN AMERICA: PARKING MANAGEMENT MARKET, BY SOLUTION, 2018–2022 (USD MILLION)
TABLE 135 LATIN AMERICA: PARKING MANAGEMENT MARKET, BY SOLUTION, 2023–2028 (USD MILLION)
TABLE 136 LATIN AMERICA: PARKING MANAGEMENT MARKET, BY SERVICE, 2018–2022 (USD MILLION)
TABLE 137 LATIN AMERICA: PARKING MANAGEMENT MARKET, BY SERVICE, 2023–2028 (USD MILLION)
TABLE 138 LATIN AMERICA: PARKING MANAGEMENT MARKET, BY PROFESSIONAL SERVICE, 2018–2022 (USD MILLION)
TABLE 139 LATIN AMERICA: PARKING MANAGEMENT MARKET, BY PROFESSIONAL SERVICE, 2023–2028 (USD MILLION)
TABLE 140 LATIN AMERICA: PARKING MANAGEMENT MARKET, BY PARKING SITE, 2018–2022 (USD MILLION)
TABLE 141 LATIN AMERICA: PARKING MANAGEMENT MARKET, BY PARKING SITE, 2023–2028 (USD MILLION)
TABLE 142 LATIN AMERICA: PARKING MANAGEMENT MARKET, BY APPLICATION, 2018–2022 (USD MILLION)
TABLE 143 LATIN AMERICA: PARKING MANAGEMENT MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
TABLE 144 LATIN AMERICA: PARKING MANAGEMENT MARKET, BY COUNTRY, 2018–2022 (USD MILLION)
TABLE 145 LATIN AMERICA: PARKING MANAGEMENT MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
11.5.3 BRAZIL
11.5.3.1 Thriving startup ecosystem to drive popularity of parking management solutions
11.5.4 MEXICO
11.5.4.1 Need for improved environmental quality to fuel demand for smart parking solutions
11.5.5 REST OF LATIN AMERICA
11.6 MIDDLE EAST & AFRICA
11.6.1 MIDDLE EAST & AFRICA: RECESSION IMPACT
11.6.2 MIDDLE EAST & AFRICA: PARKING MANAGEMENT MARKET DRIVERS
TABLE 146 MIDDLE EAST & AFRICA: PARKING MANAGEMENT MARKET, BY OFFERING, 2018–2022 (USD MILLION)
TABLE 147 MIDDLE EAST & AFRICA: PARKING MANAGEMENT MARKET, BY OFFERING, 2023–2028 (USD MILLION)
TABLE 148 MIDDLE EAST & AFRICA: PARKING MANAGEMENT MARKET, BY SOLUTION, 2018–2022 (USD MILLION)
TABLE 149 MIDDLE EAST & AFRICA: PARKING MANAGEMENT MARKET, BY SOLUTION, 2023–2028 (USD MILLION)
TABLE 150 MIDDLE EAST & AFRICA: PARKING MANAGEMENT MARKET, BY SERVICE, 2018–2022 (USD MILLION)
TABLE 151 MIDDLE EAST & AFRICA: PARKING MANAGEMENT MARKET, BY SERVICE, 2023–2028 (USD MILLION)
TABLE 152 MIDDLE EAST & AFRICA: PARKING MANAGEMENT MARKET, BY PROFESSIONAL SERVICE, 2018–2022 (USD MILLION)
TABLE 153 MIDDLE EAST & AFRICA: PARKING MANAGEMENT MARKET, BY PROFESSIONAL SERVICE, 2023–2028 (USD MILLION)
TABLE 154 MIDDLE EAST & AFRICA: PARKING MANAGEMENT MARKET, BY PARKING SITE, 2018–2022 (USD MILLION)
TABLE 155 MIDDLE EAST & AFRICA: PARKING MANAGEMENT MARKET, BY PARKING SITE, 2023–2028 (USD MILLION)
TABLE 156 MIDDLE EAST & AFRICA: PARKING MANAGEMENT MARKET, BY APPLICATION, 2018–2022 (USD MILLION)
TABLE 157 MIDDLE EAST & AFRICA: PARKING MANAGEMENT MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
TABLE 158 MIDDLE EAST & AFRICA: PARKING MANAGEMENT MARKET, BY COUNTRY, 2018–2022 (USD MILLION)
TABLE 159 MIDDLE EAST & AFRICA: PARKING MANAGEMENT MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
11.6.3 UAE
11.6.3.1 Increase in number of vehicles and need to organize parking management systems to boost growth
11.6.4 SOUTH AFRICA
11.6.4.1 Popularity of mobile application-based parking management solutions to drive growth
11.6.5 ISRAEL
11.6.5.1 Demand for adequate parking space to boost adoption of parking management solutions
11.6.6 REST OF MIDDLE EAST & AFRICA
12 COMPETITIVE LANDSCAPE
12.1 INTRODUCTION
12.2 STRATEGIES ADOPTED BY KEY PLAYERS
TABLE 160 OVERVIEW OF STRATEGIES ADOPTED BY KEY PLAYERS
12.3 HISTORICAL REVENUE ANALYSIS
FIGURE 31 HISTORICAL REVENUE ANALYSIS OF KEY PLAYERS, 2020–2022 (USD MILLION)
12.4 MARKET SHARE ANALYSIS OF KEY PLAYERS
TABLE 161 PARKING MANAGEMENT MARKET: DEGREE OF COMPETITION
12.5 COMPETITIVE BENCHMARKING
TABLE 162 COMPETITIVE BENCHMARKING OF KEY PLAYERS
12.6 COMPANY EVALUATION MATRIX METHODOLOGY FOR KEY PLAYERS
FIGURE 32 COMPANY EVALUATION MATRIX FOR KEY PLAYERS: CRITERIA WEIGHTAGE
12.7 COMPANY EVALUATION MATRIX FOR KEY PLAYERS
12.7.1 STARS
12.7.2 EMERGING LEADERS
12.7.3 PERVASIVE PLAYERS
12.7.4 PARTICIPANTS
FIGURE 33 COMPANY EVALUATION MATRIX FOR KEY PLAYERS, 2023
12.8 COMPETITIVE SCENARIO
12.8.1 PRODUCT LAUNCHES
TABLE 163 PRODUCT LAUNCHES, 2021–2023
12.8.2 DEALS
TABLE 164 DEALS, 2020–2023
13 COMPANY PROFILES
13.1 KEY PLAYERS
(Business overview, Products/Solutions/Services offered, Recent developments, MnM view, Key strengths, Strategic choices, and Weaknesses and competitive threats)*
13.1.1 GROUP INDIGO
TABLE 165 GROUP INDIGO: BUSINESS OVERVIEW
FIGURE 34 GROUP INDIGO: COMPANY SNAPSHOT
TABLE 166 GROUP INDIGO: SOLUTIONS /SERVICES OFFERED
TABLE 167 GROUP INDIGO: SOLUTION/SERVICE LAUNCHES
TABLE 168 GROUP INDIGO: DEALS
13.1.2 AMANO
TABLE 169 AMANO: BUSINESS OVERVIEW
FIGURE 35 AMANO: COMPANY SNAPSHOT
TABLE 170 AMANO: SOLUTIONS /SERVICES OFFERED
TABLE 171 AMANO: SOLUTION/SERVICE LAUNCHES
TABLE 172 AMANO: DEALS
13.1.3 SIEMENS
TABLE 173 SIEMENS: BUSINESS OVERVIEW
FIGURE 36 SIEMENS: COMPANY SNAPSHOT
TABLE 174 SIEMENS: SOLUTIONS /SERVICES OFFERED
TABLE 175 SIEMENS: SOLUTION/SERVICE LAUNCHES
TABLE 176 SIEMENS: DEALS
13.1.4 BOSCH GROUP
TABLE 177 BOSCH GROUP: BUSINESS OVERVIEW
FIGURE 37 BOSCH GROUP: COMPANY SNAPSHOT
TABLE 178 BOSCH GROUP: SOLUTIONS /SERVICES OFFERED
TABLE 179 BOSCH:DEALS
13.1.5 ATOS
TABLE 180 ATOS: BUSINESS OVERVIEW
FIGURE 38 ATOS: COMPANY SNAPSHOT
TABLE 181 ATOS: SOLUTIONS/ SERVICES OFFERED
TABLE 182 ATOS: DEALS
13.1.6 SWARCO
TABLE 183 SWARCO: BUSINESS OVERVIEW
TABLE 184 SWARCO: SOLUTIONS/ SERVICES OFFERED
TABLE 185 SWARCO:SOLUTION/SERVICE LAUNCHES
13.1.7 SKIDATA
TABLE 186 SKIDATA: BUSINESS OVERVIEW
TABLE 187 SKIDATA: SOLUTIONS / SERVICES OFFERED
TABLE 188 SKIDATA: DEALS
13.1.8 CHETU
TABLE 189 CHETU: BUSINESS OVERVIEW
TABLE 190 CHETU: SOLUTIONS /SERVICES OFFERED
13.1.9 PRECISE PARKLINK
13.1.10 FLASHPARKING
13.1.11 PASSPORT LABS
13.1.12 SPOTHERO
13.1.13 GET MY PARKING
13.1.14 INRIX
13.1.15 IPS GROUP
13.1.16 SMART PARKING
13.1.17 TIBA PARKING SYSTEMS
13.1.18 Q-FREE
13.1.19 STREETLINE
13.1.20 PARKOFFICE
13.1.21 URBIOTICA
13.1.22 CIVICSMART
*Details on Business overview, Products/Solutions/Services offered, Recent developments, MnM view, Key strengths, Strategic choices, and Weaknesses and competitive threats might not be captured in case of unlisted companies.
14 ADJACENT/RELATED MARKETS
14.1 INTRODUCTION
14.2 TRAFFIC MANAGEMENT MARKET – GLOBAL FORECAST TO 2027
14.2.1 MARKET DEFINITION
14.2.2 MARKET OVERVIEW
14.2.2.1 Traffic management market, by component
TABLE 191 TRAFFIC MANAGEMENT MARKET, BY COMPONENT, 2017–2021 (USD MILLION)
TABLE 192 TRAFFIC MANAGEMENT MARKET, BY COMPONENT, 2022–2027 (USD MILLION)
14.2.2.2 Traffic management market, by solution
TABLE 193 TRAFFIC MANAGEMENT MARKET, BY SOLUTION, 2017–2021 (USD MILLION)
TABLE 194 TRAFFIC MANAGEMENT MARKET, BY SOLUTION, 2022–2027 (USD MILLION)
14.2.2.3 Traffic management market, by hardware
TABLE 195 TRAFFIC MANAGEMENT MARKET, BY HARDWARE, 2017–2021 (USD MILLION)
TABLE 196 TRAFFIC MANAGEMENT MARKET, BY HARDWARE, 2022–2027 (USD MILLION)
14.2.2.4 Traffic management market, by service
TABLE 197 TRAFFIC MANAGEMENT MARKET, BY SERVICE, 2017–2021 (USD MILLION)
TABLE 198 TRAFFIC MANAGEMENT MARKET, BY SERVICE, 2022–2027 (USD MILLION)
14.2.2.5 Traffic management market, by region
TABLE 199 TRAFFIC MANAGEMENT MARKET, BY REGION, 2017–2021 (USD MILLION)
TABLE 200 TRAFFIC MANAGEMENT MARKET, BY REGION, 2022–2027 (USD MILLION)
14.3 FLEET MANAGEMENT MARKET – GLOBAL FORECAST TO 2027
14.3.1 MARKET DEFINITION
14.3.2 MARKET OVERVIEW
14.3.2.1 Fleet management market, by component
TABLE 201 FLEET MANAGEMENT MARKET, BY COMPONENT, 2017–2021 (USD MILLION)
TABLE 202 FLEET MANAGEMENT MARKET, BY COMPONENT, 2022–2027 (USD MILLION)
14.3.2.2 Fleet management market, by deployment type
TABLE 203 FLEET MANAGEMENT MARKET, BY DEPLOYMENT TYPE, 2017–2021 (USD MILLION)
TABLE 204 FLEET MANAGEMENT MARKET, BY DEPLOYMENT TYPE, 2022–2027 (USD MILLION)
14.3.2.3 Fleet management market, by fleet type
TABLE 205 FLEET MANAGEMENT MARKET, BY FLEET TYPE, 2017–2021 (USD MILLION)
TABLE 206 FLEET MANAGEMENT MARKET, BY FLEET TYPE, 2022–2027 (USD MILLION)
15 APPENDIX
15.1 DISCUSSION GUIDE
15.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
15.3 CUSTOMIZATION OPTIONS
15.4 RELATED REPORTS
15.5 AUTHOR DETAILS
The rapid growth in the number of vehicles worldwide is intensifying the problem of scarcity of parking spaces. Again, according to global research surveys and industry data, XX% of traffic congestion occurs due to vehicle drivers struggling to find parking space. This in turn magnifies the necessity of smart and efficient parking systems. Today’s intelligent parking management systems are capable of providing extreme level of convenience to the drivers, as well as simplifying and automating the business operation and administrative functions of the parking site owners.
The parking management systems are apt for the smart transportation environment. They automate and smarten the parking management functions by providing solutions such as access control, revenue management, parking enforcement & permit management, security & surveillance, automated valet parking, and parking guidance & slot management. These solutions result in efficient parking management in terms of automating and easing parking payment method for the vehicle drivers, saving their time and also increasing the vehicle holding capacity of the parking garages.
The high growth rate in the registration of new cars worldwide, with major boom from regional economies such as APAC, will open the window of opportunities for parking management business. The ongoing and upcoming smart city projects worldwide will create room for the intelligent parking management systems. The global parking management industry is expected to grow at a Compound Annual Growth Rate (CAGR) of XX% from 2014 to 2019.
The parking management market is estimated to account for $XX billion in 2014. The market is expected to grow in tandem with the growth in vehicle ownerships and parking facilities development. The need for smooth traffic flow, business benefits to parking site operators, and decreasing hardware and connectivity costs are the key drivers for the parking management industry.
