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Parking Management Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

June 2023 | 135 pages | ID: P79D669F41B6EN
IMARC Group

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The global parking management market size reached US$ 4.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 7.4 Billion by 2028, exhibiting a growth rate (CAGR) of 9% during 2023-2028.

Parking management represents various programs, strategies and implemented policies that are designed to promote the efficient utilization of different parking resources and create more walkable areas. It constitutes parking management systems, security and surveillance solutions, boom barriers and parking reservation structures. These devices assist in mitigating the demand for parking subsidies, increasing travel options, inhibiting traffic, generating a return on investments (ROI) and maintaining the safety and security of the vehicle. On account of these properties, it finds extensive applications in off-street and on-street parking sites in on-premises and cloud solutions deployment forms.

Parking Management Market Trends:
The widespread adoption of parking management policies and solutions across commercial, residential and transportation sectors can be attributed to the increasing need for improved mobility amongst service consultants and optimizing overall revenue. This, along with the favorable initiatives being undertaken by the government bodies for managing tows, resolving traffic congestion issues, and mitigating overall operational expenditure (OPEX) and capital expenditure (CAPEX) represents the key factor primarily driving the market growth. In line with this, significant technological advancements, such as the integration of various parking management solutions with near-field communication (NFC), global positioning systems (GPS) and cameras is acting as another growth-inducing factor. These systems assist in identifying vacant spots, monitoring systems, providing enhanced signage, real-time parking indicators, and reducing the wastage of spaces by promoting efficient usage of parking resources. Other factors, such as rising demand for effective parking management solutions and the continuous investments in research and development (R&D) activities to introduce automated license plate recognition solutions and mobile phone applications for monitoring speed, gaining traction, and receiving voice guidance, are creating a positive outlook for the market.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global parking management market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on offering type, deployment mode and parking site.

Breakup by Offering Type:

Solution
Access Control
Security and Surveillance
Revenue Management
Parking Reservation Management
Valet Parking Management
Others
Service
Consulting and Training
System Integration and Deployment
Support and Maintenance

Breakup by Deployment Mode:

On-premises
Cloud-based

Breakup by Parking Site:

Off-street
On-street

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being 3M Company, Amano Corporation, Cubic Corporation, FlashParking Inc. (Arrive Mobility Inc.), Infocomm Group LLC, International Business Machines Corporation, Passport Labs Inc., Q-Free ASA, Robert Bosch GmbH, SAP SE, Siemens AG and T2 Systems Inc. (Verra Mobility).

Key Questions Answered in This Report

1. What was the size of the global parking management market in 2022?
2. What is the expected growth rate of the global parking management market during 2023-2028?
3. What are the key factors driving the global parking management market?
4. What has been the impact of COVID-19 on the global parking management market?
5. What is the breakup of the global parking management market based on the offering type?
6. What is the breakup of the global parking management market based on the deployment mode?
7. What is the breakup of the global parking management market based on parking site?
8. What are the key regions in the global parking management market?
9. Who are the key players/companies in the global parking management market?
1 PREFACE

2 SCOPE AND METHODOLOGY

2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
  2.3.1 Primary Sources
  2.3.2 Secondary Sources
2.4 Market Estimation
  2.4.1 Bottom-Up Approach
  2.4.2 Top-Down Approach
2.5 Forecasting Methodology

3 EXECUTIVE SUMMARY

4 INTRODUCTION

4.1 Overview
4.2 Key Industry Trends

5 GLOBAL PARKING MANAGEMENT MARKET

5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast

6 MARKET BREAKUP BY OFFERING TYPE

6.1 Solution
  6.1.1 Market Trends
  6.1.2 Key Segments
    6.1.2.1 Access Control
    6.1.2.2 Security and Surveillance
    6.1.2.3 Revenue Management
    6.1.2.4 Parking Reservation Management
    6.1.2.5 Valet Parking Management
    6.1.2.6 Others
  6.1.3 Market Forecast
6.2 Service
  6.2.1 Market Trends
  6.2.2 Key Segments
    6.2.2.1 Consulting and Training
    6.2.2.2 System Integration and Deployment
    6.2.2.3 Support and Maintenance
  6.2.3 Market Forecast

7 MARKET BREAKUP BY DEPLOYMENT MODE

7.1 On-premises
  7.1.1 Market Trends
  7.1.2 Market Forecast
7.2 Cloud-based
  7.2.1 Market Trends
  7.2.2 Market Forecast

8 MARKET BREAKUP BY PARKING SITE

8.1 Off-street
  8.1.1 Market Trends
  8.1.2 Market Forecast
8.2 On-street
  8.2.1 Market Trends
  8.2.2 Market Forecast

9 MARKET BREAKUP BY REGION

9.1 North America
  9.1.1 United States
    9.1.1.1 Market Trends
    9.1.1.2 Market Forecast
  9.1.2 Canada
    9.1.2.1 Market Trends
    9.1.2.2 Market Forecast
9.2 Asia-Pacific
  9.2.1 China
    9.2.1.1 Market Trends
    9.2.1.2 Market Forecast
  9.2.2 Japan
    9.2.2.1 Market Trends
    9.2.2.2 Market Forecast
  9.2.3 India
    9.2.3.1 Market Trends
    9.2.3.2 Market Forecast
  9.2.4 South Korea
    9.2.4.1 Market Trends
    9.2.4.2 Market Forecast
  9.2.5 Australia
    9.2.5.1 Market Trends
    9.2.5.2 Market Forecast
  9.2.6 Indonesia
    9.2.6.1 Market Trends
    9.2.6.2 Market Forecast
  9.2.7 Others
    9.2.7.1 Market Trends
    9.2.7.2 Market Forecast
9.3 Europe
  9.3.1 Germany
    9.3.1.1 Market Trends
    9.3.1.2 Market Forecast
  9.3.2 France
    9.3.2.1 Market Trends
    9.3.2.2 Market Forecast
  9.3.3 United Kingdom
    9.3.3.1 Market Trends
    9.3.3.2 Market Forecast
  9.3.4 Italy
    9.3.4.1 Market Trends
    9.3.4.2 Market Forecast
  9.3.5 Spain
    9.3.5.1 Market Trends
    9.3.5.2 Market Forecast
  9.3.6 Russia
    9.3.6.1 Market Trends
    9.3.6.2 Market Forecast
  9.3.7 Others
    9.3.7.1 Market Trends
    9.3.7.2 Market Forecast
9.4 Latin America
  9.4.1 Brazil
    9.4.1.1 Market Trends
    9.4.1.2 Market Forecast
  9.4.2 Mexico
    9.4.2.1 Market Trends
    9.4.2.2 Market Forecast
  9.4.3 Others
    9.4.3.1 Market Trends
    9.4.3.2 Market Forecast
9.5 Middle East and Africa
  9.5.1 Market Trends
  9.5.2 Market Breakup by Country
  9.5.3 Market Forecast

10 SWOT ANALYSIS

10.1 Overview
10.2 Strengths
10.3 Weaknesses
10.4 Opportunities
10.5 Threats

11 VALUE CHAIN ANALYSIS

12 PORTERS FIVE FORCES ANALYSIS

12.1 Overview
12.2 Bargaining Power of Buyers
12.3 Bargaining Power of Suppliers
12.4 Degree of Competition
12.5 Threat of New Entrants
12.6 Threat of Substitutes

13 PRICE ANALYSIS

14 COMPETITIVE LANDSCAPE

14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
  14.3.1 3M Company
    14.3.1.1 Company Overview
    14.3.1.2 Product Portfolio
    14.3.1.3 Financials
    14.3.1.4 SWOT Analysis
  14.3.2 Amano Corporation
    14.3.2.1 Company Overview
    14.3.2.2 Product Portfolio
    14.3.2.3 Financials
  14.3.3 Cubic Corporation
    14.3.3.1 Company Overview
    14.3.3.2 Product Portfolio
    14.3.3.3 SWOT Analysis
  14.3.4 FlashParking Inc. (Arrive Mobility Inc.)
    14.3.4.1 Company Overview
    14.3.4.2 Product Portfolio
  14.3.5 Infocomm Group LLC
    14.3.5.1 Company Overview
    14.3.5.2 Product Portfolio
  14.3.6 International Business Machines Corporation
    14.3.6.1 Company Overview
    14.3.6.2 Product Portfolio
    14.3.6.3 Financials
    14.3.6.4 SWOT Analysis
  14.3.7 Passport Labs Inc.
    14.3.7.1 Company Overview
    14.3.7.2 Product Portfolio
  14.3.8 Q-Free ASA
    14.3.8.1 Company Overview
    14.3.8.2 Product Portfolio
    14.3.8.3 Financials
  14.3.9 Robert Bosch GmbH
    14.3.9.1 Company Overview
    14.3.9.2 Product Portfolio
    14.3.9.3 SWOT Analysis
  14.3.10 SAP SE
    14.3.10.1 Company Overview
    14.3.10.2 Product Portfolio
    14.3.10.3 Financials
    14.3.10.4 SWOT Analysis
  14.3.11 Siemens AG
    14.3.11.1 Company Overview
    14.3.11.2 Product Portfolio
    14.3.11.3 Financials
    14.3.11.4 SWOT Analysis
  14.3.12 T2 Systems Inc. (Verra Mobility)
    14.3.12.1 Company Overview
    14.3.12.2 Product Portfolio

LIST OF TABLES

Table 1: Global: Parking Management Market: Key Industry Highlights, 2022 and 2028
Table 2: Global: Parking Management Market Forecast: Breakup by Offering Type (in Million US$), 2023-2028
Table 3: Global: Parking Management Market Forecast: Breakup by Deployment Mode (in Million US$), 2023-2028
Table 4: Global: Parking Management Market Forecast: Breakup by Parking Site (in Million US$), 2023-2028
Table 5: Global: Parking Management Market Forecast: Breakup by Region (in Million US$), 2023-2028
Table 6: Global: Parking Management Market: Competitive Structure
Table 7: Global: Parking Management Market: Key Players


LIST OF FIGURES

Figure 1: Global: Parking Management Market: Major Drivers and Challenges
Figure 2: Global: Parking Management Market: Sales Value (in Billion US$), 2017-2022
Figure 3: Global: Parking Management Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 4: Global: Parking Management Market: Breakup by Offering Type (in %), 2022
Figure 5: Global: Parking Management Market: Breakup by Deployment Mode (in %), 2022
Figure 6: Global: Parking Management Market: Breakup by Parking Site (in %), 2022
Figure 7: Global: Parking Management Market: Breakup by Region (in %), 2022
Figure 8: Global: Parking Management (Solution) Market: Sales Value (in Million US$), 2017 & 2022
Figure 9: Global: Parking Management (Solution) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 10: Global: Parking Management (Service) Market: Sales Value (in Million US$), 2017 & 2022
Figure 11: Global: Parking Management (Service) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 12: Global: Parking Management (On-premises) Market: Sales Value (in Million US$), 2017 & 2022
Figure 13: Global: Parking Management (On-premises) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 14: Global: Parking Management (Cloud-based) Market: Sales Value (in Million US$), 2017 & 2022
Figure 15: Global: Parking Management (Cloud-based) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 16: Global: Parking Management (Off-street) Market: Sales Value (in Million US$), 2017 & 2022
Figure 17: Global: Parking Management (Off-street) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 18: Global: Parking Management (On-street) Market: Sales Value (in Million US$), 2017 & 2022
Figure 19: Global: Parking Management (On-street) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 20: North America: Parking Management Market: Sales Value (in Million US$), 2017 & 2022
Figure 21: North America: Parking Management Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 22: United States: Parking Management Market: Sales Value (in Million US$), 2017 & 2022
Figure 23: United States: Parking Management Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 24: Canada: Parking Management Market: Sales Value (in Million US$), 2017 & 2022
Figure 25: Canada: Parking Management Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 26: Asia-Pacific: Parking Management Market: Sales Value (in Million US$), 2017 & 2022
Figure 27: Asia-Pacific: Parking Management Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 28: China: Parking Management Market: Sales Value (in Million US$), 2017 & 2022
Figure 29: China: Parking Management Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 30: Japan: Parking Management Market: Sales Value (in Million US$), 2017 & 2022
Figure 31: Japan: Parking Management Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 32: India: Parking Management Market: Sales Value (in Million US$), 2017 & 2022
Figure 33: India: Parking Management Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 34: South Korea: Parking Management Market: Sales Value (in Million US$), 2017 & 2022
Figure 35: South Korea: Parking Management Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 36: Australia: Parking Management Market: Sales Value (in Million US$), 2017 & 2022
Figure 37: Australia: Parking Management Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 38: Indonesia: Parking Management Market: Sales Value (in Million US$), 2017 & 2022
Figure 39: Indonesia: Parking Management Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 40: Others: Parking Management Market: Sales Value (in Million US$), 2017 & 2022
Figure 41: Others: Parking Management Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 42: Europe: Parking Management Market: Sales Value (in Million US$), 2017 & 2022
Figure 43: Europe: Parking Management Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 44: Germany: Parking Management Market: Sales Value (in Million US$), 2017 & 2022
Figure 45: Germany: Parking Management Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 46: France: Parking Management Market: Sales Value (in Million US$), 2017 & 2022
Figure 47: France: Parking Management Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 48: United Kingdom: Parking Management Market: Sales Value (in Million US$), 2017 & 2022
Figure 49: United Kingdom: Parking Management Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 50: Italy: Parking Management Market: Sales Value (in Million US$), 2017 & 2022
Figure 51: Italy: Parking Management Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 52: Spain: Parking Management Market: Sales Value (in Million US$), 2017 & 2022
Figure 53: Spain: Parking Management Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 54: Russia: Parking Management Market: Sales Value (in Million US$), 2017 & 2022
Figure 55: Russia: Parking Management Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 56: Others: Parking Management Market: Sales Value (in Million US$), 2017 & 2022
Figure 57: Others: Parking Management Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 58: Latin America: Parking Management Market: Sales Value (in Million US$), 2017 & 2022
Figure 59: Latin America: Parking Management Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 60: Brazil: Parking Management Market: Sales Value (in Million US$), 2017 & 2022
Figure 61: Brazil: Parking Management Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 62: Mexico: Parking Management Market: Sales Value (in Million US$), 2017 & 2022
Figure 63: Mexico: Parking Management Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 64: Others: Parking Management Market: Sales Value (in Million US$), 2017 & 2022
Figure 65: Others: Parking Management Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 66: Middle East and Africa: Parking Management Market: Sales Value (in Million US$), 2017 & 2022
Figure 67: Middle East and Africa: Parking Management Market: Breakup by Country (in %), 2022
Figure 68: Middle East and Africa: Parking Management Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 69: Global: Parking Management Industry: SWOT Analysis
Figure 70: Global: Parking Management Industry: Value Chain Analysis
Figure 71: Global: Parking Management Industry: Porter's Five Forces Analysis


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