Parking Management Market Size, Demand and Forecast 2022-27

IMARC Group’s latest research report, titled “Parking Management Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027,” offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios. The global parking management market size reached a value of US$ 3.94 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 6.85 Billion by 2027, exhibiting a CAGR of 9.30% during 2022-2027. Parking management refers to managing and using the sources available for parking vehicles wholly and efficiently. It lets users quickly search the parking spots and provides guidance to enhance the visitor’s experience. It offers additional space to hold extra vehicles with smart parking systems and mechanical parking.

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Important Attribute and highlights of the Report:

Detailed analysis of the global market share
Market Segmentation by offering type, deployment mode and parking site.
Historical, current, and projected size of the market in terms of volume and value
Latest industry trends and developments
Competitive Landscape for Parking Management Market
Strategies of major players and product offerings

The global market is primarily driven by the growing demand for optimum utilization of parking spaces. In line with this, the adoption of parking management solutions, such as improved signage and real-time parking indicators, is significantly contributing to the market. Furthermore, an increase in the number of vehicles across the globe is catalyzing the market growth. Apart from this, rising smart city initiatives by the government of various countries are offering lucrative growth opportunities to the market players. Moreover, the high adoption of wireless technologies in the transportation industry and the growing demand for advanced security and surveillance parking solutions are creating a positive outlook for the market.

Key Players Included in Global Parking Management Market Research Report:

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)

COVID-19 Impact Overview:

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Key Market Segmentation:

Breakup by Offering Type:

Solution
Access Control
Security and Surveillanc
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, Australia, Indonesia, Korea, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

TOC for the Parking Management Market Research Report:

Preface
Scope and Methodology
Executive Summary
Introduction
Global Parking Management Market
SWOT Analysis
Value Chain Analysis
Price Analysis
Competitive Landscape

Who we are:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.