Global Parking Management Market, By Component (Software, Software, Service), Parking Site (Off Street Parking, On Street Parking), Deployment Type (Cloud, On-premises), Vertical (Retail, Transportation, Corporate and Commercial Parks, Hospitality, BFSI, Recreation, Healthcare, Academia, Government, Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028.
Market Analysis and Insights: Global Parking Management Market
Data Bridge Market Research analyses that the parking management market will exhibit a CAGR of 7.10% for the forecast period of 2021 to 2028 and is expected to reach the market value of USD 6,381.71 million by 2028.
Parking is an important element of the transportation system. Parking management is specially designed so as to handle the different programs and policies to make the best use of parking resources.
The proliferation of mobile and smartphones is the major factor accelerating the growth of the parking management market for the forecast period of 2021 to 2028. Furthermore, the rising urban population to actuate smart parking management, rise in the motor vehicle sales across the globe, high demand for seamless traffic flow and reduction in fuel consumption, rise in the demand for optimum utilization of parking spaces and high adoption of cloud, IoT, and data analytics technologies are also expected to drive the growth of the parking management market. However, the system integration complexities and high implementation costs restrains the parking management market, whereas, the data security and privacy issues related to IoT devices and disruption in logistics and supply chain of IoT devices will challenge parking management market growth in the above mentioned forecast period.
- In addition, increasing smart city initiative across the globe, advent of autonomous cars and the high demand for innovative parking management solutions will create ample opportunities for the parking management market.
This parking management market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on parking management market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Parking Management Market Scope and Market Size
The parking management market is segmented on the basis of component, parking site, deployment type, and vertical. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target market.
- On the basis of component, the parking management market is segmented into software, solution, and service. Software is further segmented into parking payment systems, and parking Information systems. Solution is further segmented into parking guidance solution, parking reservation management, parking permit management, parking enforcement management, parking access and revenue control (PARC), parking security and surveillance and parking analytics. Service is further segmented into support and maintenance, and deployment and customization.
- On the basis of parking site, the parking management market is segmented into off street parking, on street parking.
- On the basis of deployment type, the parking management market is segmented into cloud, and on-premises.
- On the basis of vertical, the parking management market is segmented into retail, transportation, corporate and commercial parks, hospitality, BFSI, recreation, healthcare, academia, government, and others.
Parking Management Market Country Level Analysis
The parking management market is analyzed and market size, volume information is provided by country, component, parking site, deployment type, and vertical as referenced above.
The countries covered in the parking management market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the parking management market and will continue to flourish its trend of dominance due to rise in the focus of automobile manufacturers in the U.S. and Canada on developing systems for proficiently managing carpark spaces. Asia-Pacific, on the other hand, is expected to show a lucrative growth as increase in the demand for parking data analytics for taking informed decisions.
The country section of the parking management market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Parking Management Market Share Analysis
The parking management market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points are only related to the companies’ focus on the parking management market.
The major players operating in the parking management market report are Streetline, Inc., APCOA Parking AG, National Car Parks Ltd., ParkMe, Inc., ACE PARKING MANAGEMENT, INC., Siemens AG, 3M, Xerox Corporation, SP Plus Corporation, Q-Park, JustPark, ParkMe, Inc., LAZ Parking, Conduent, Inc., The Kapsch Group, Robert Bosch GmbH, Continental AG, Valeo, Delphi Technologies, AISIN SEIKI Co. Ltd., Cubic Corporation, Amano Corporation, Kapsch TrafficCom AG, AppyParking, Smart Parking Ltd, TKH GROUP, and Nedap N.V., among others.
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