Parking Management Market
Parking Management Market Size, Share & Trends Analysis Report by Offering (Solutions, 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, Services, Professional Service, Consulting and Training, System Integration and Deployment, Support and Maintenance, and Managed Service), by Parking Site (Off-street Parking, and On-street Parking), Forecast Period (2023-2030) Update Available - Forecast 2024-2030
Parking management market is anticipated to grow at a CAGR of 7.3% during the forecast period (2023–2030). The growth of the market is attributed to the growing demand for optimum utilization of parking spaces across the globe. A combination of factors, such as the lack of available land, means parking spaces are frequently scarce across the globe. In addition to the shortage, smart parking solutions that maximise parking space utilisation through the use of a comprehensive parking management system that provides hassle-free, contactless payment parking for customers. For instance, in February 2023, Parqour launched its all-inclusive parking management system, that offers clients a hassle-free, contactless parking experience. The company uses 99.6% accurate licence plate recognition technology to streamline the parking experience for consumers. Parking lot owners can utilise company to optimise their revenue through dynamic pricing, increase security, save costs, produce analytics and reports, and enhance customer service at large public facilities.
Segmental Outlook
The global parking management market is segmented by offering and parking site. Based on the offering, the market is sub-segmented into solutions which includes parking guidance solutions, parking reservation management, parking permit management, parking enforcement management, PARC, parking security and surveillance, and parking analytics; and services including professional service, consulting and training, system integration and deployment, support and maintenance, and managed service. Furthermore, based on the parking site, the market is bifurcated into off-street parking and on-street Parking. Among the parking site formats, the off-street parking sub-segment is anticipated to hold a considerable share of the market owing to the increasing traffic on the roads, creating infrastructure issues. Off-street parking tends to be picked as it is a faster, simpler, and more dependable approach.
The Parking Permit Management Sub-Segment is Anticipated to Hold a Considerable Share of the Global Parking Management Market
Among the offerings, the parking permit management sub-segment is expected to hold a considerable share of the global parking management market. The segmental growth is attributed to the growing demand for increased awareness of consumer convenience. By offering services such as mobile applications for parking reservations, digital payment alternatives, and actual time accessibility data, parking management solutions seek to increase the convenience of customers. Additionally, the market players are also introducing several new products to cater to the demand for utilising a Good Manufacturing Practices (GMP) Permit to conduct online business. For Instance, in September 2021, Get My Parking launched the latest addition to their selection of parking management options. This latest addition of the solution will allow operators to run their permit business online by utilising GMP Permit, an online platform for managing parking permits.
Regional Outlook
The global parking management market is further segmented based on geography, including North America (the US and Canada), Europe (the UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and the Rest of Asia), and the Rest of the World (the Middle East and Africa, and Latin America). Among these, the Asia-Pacific region is anticipated to hold a prominent share of the market across the globe. The regional market growth is attributed by the government's growing interest in creating smart cities and the requirement for a systematic, efficient flow of traffic.
Global Parking Management Market Growth by Region 2023-2030
North America is Expected to Grow at a Significant CAGR in the Global Parking Management Market
Among all the regions, North America is anticipated to grow at a considerable CAGR over the forecast period. The regional growth is attributed to the growing demand for increased efficiency and convenience in parking for both residents and visitors. Hence, owing to the rising demand the government as well as private institutions are introducing various smart parking projects across the region. For instance, in February 2023, Eleven-x was recently approved for one of North America's biggest municipal smart parking projects. The project will be deployed in Arlington County, Virginia, with an aim to increase parking efficiency and convenience for both locals and guests. The wireless technology of Eleven-x can be utilised by the smart parking systems to track parking spaces and offer availability information in real-time. Additionally, the data will be used to improve local traffic flow and parking enforcement.
Market Players Outlook
The major companies serving the parking management market includes 3M Co., Bond Mortgage LLC, Cubic Corp., Flashparking, Inc., Infocomm Group LLC, and others. The market players are considerably contributing to market growth through the adoption of various strategies, including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in June 2022, ParkMobile, LLC partnered with the University of Louisville to provide smart parking payment solutions for parking within the university campus. Through this partnership, ParkMobile is able to provide approximately 2,700 off-street parking spaces at the university.
The Report Covers
- Market value data analysis of 2022 and forecast to 2030.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global parking management market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.2. Amano Cincinnati, Inc.
3.2.1. Overview
3.2.2. Financial Analysis
3.2.3. SWOT Analysis
3.2.4. Recent Developments
3.3. Flashparking, Inc.
3.3.1. Overview
3.3.2. Financial Analysis
3.3.3. SWOT Analysis
3.3.4. Recent Developments
3.4. Passport Labs, Inc
3.4.1. Overview
3.4.2. Financial Analysis
3.4.3. SWOT Analysis
3.4.4. Recent Developments
3.5. Key Strategy Analysis
4. Market Segmentation
4.1. Global Parking Management Market by Offering
4.1.1. Solutions
4.1.1.1. Parking Guidance Solution
4.1.1.2. Parking Reservation Management
4.1.1.3. Parking Permit Management
4.1.1.4. Parking Enforcement Management
4.1.1.5. Parking Access and Revenue Control (PARC)
4.1.2. Services
4.1.2.1. Professional Service
4.1.2.2. Consulting and Training
4.1.2.3. System Integration and Deployment
4.1.2.4. Support and Maintenance
4.1.2.5. Managed Services
4.2. Global Parking Management Market by Parking Site
4.2.1. Off-Street Parking
4.2.2. On-Street Parking
5. Regional Analysis
5.1. North America
5.1.1. United States
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
6. Company Profiles
6.1. 3M Co.
6.2. Bond Mortgage LLC
6.3. Cubic Corp
6.4. Flashparking, Inc.
6.5. Infocomm Group LLC
6.6. International Business Machines Corp
6.7. Kapsch Trafficcom AG
6.8. Q-Free AsA
6.9. Rober Bosch GmbH
6.10. SAP SE
6.11. Siemens Ltd.
6.12. Skidata, Inc.
6.13. Swarco AG
6.14. Tiba Parking Systems
6.15. Undersun Fitness
1. GLOBAL PARKING MANAGEMENT MARKET RESEARCH AND ANALYSIS BY OFFERING, 2022-2030 ($ MILLION)
2. GLOBAL SOLUTIONS IN PARKING MANAGEMENT MARKET RESEARCH AND ANALYSIS BY REGION,2022-2030 ($ MILLION)
3. GLOBAL SERVICES IN PARKING MANAGEMENT MARKET RESEARCH AND ANALYSIS BY REGION,2022-2030 ($ MILLION)
4. GLOBAL PROFESSIONAL SERVICE MARKET RESEARCH AND ANALYSIS BY REGION,2022-2030 ($ MILLION)
5. GLOBAL PARKING MANAGEMENT MARKET RESEARCH AND ANALYSIS BY PARKING SITE, 2022-2030 ($ MILLION)
6. GLOBAL OFF-STREET PARKING MANAGEMENT MARKET RESEARCH AND ANALYSIS, 2022-2030 ($ MILLION)
7. GLOBAL ON-STREET PARKING MANAGEMENT MARKET RESEARCH AND ANALYSIS, 2022-2030 ($ MILLION)
8. GLOBAL PARKING MANAGEMENT MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
9. NORTH AMERICAN PARKING MANAGEMENT MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2022-2030 ($ MILLION)
10. NORTH AMERICAN PARKING MANAGEMENT MARKET RESEARCH AND ANALYSIS BY OFFERING, 2022-2030 ($ MILLION)
11. NORTH AMERICAN PARKING MANAGEMENT MARKET RESEARCH AND ANALYSIS BY PARKING SITE, 2022-2030 ($ MILLION)
12. EUROPEAN PARKING MANAGEMENT MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2022-2030 ($ MILLION)
13. EUROPEAN PARKING MANAGEMENT MARKET RESEARCH AND ANALYSIS BY OFFERING, 2022-2030 ($ MILLION)
14. EUROPEAN PARKING MANAGEMENT MARKET RESEARCH AND ANALYSIS BY PARKING SITE, 2022-2030 ($ MILLION)
15. ASIA- PACIFIC PARKING MANAGEMENT MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2022-2030 ($ MILLION)
16. ASIA- PACIFIC PARKING MANAGEMENT MARKET RESEARCH AND ANALYSIS BY OFFERING, 2022-2030 ($ MILLION)
17. ASIA- PACIFIC PARKING MANAGEMENT MARKET RESEARCH AND ANALYSIS BY PARKING SITE, 2022-2030 ($ MILLION)
18. REST OF THE WORLD PARKING MANAGEMENT MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2022-2030 ($ MILLION)
19. REST OF THE WORLD PARKING MANAGEMENT MARKET RESEARCH AND ANALYSIS BY OFFERING, 2022-2030 ($ MILLION)
20. REST OF THE WORLD PARKING MANAGEMENT MARKET RESEARCH AND ANALYSIS BY PARKING SITE, 2022-2030 ($ MILLION)
1. GLOBAL PARKING MANAGEMENT MARKET SHARE BY OFFERING, 2022 VS 2030 (%)
2. GLOBAL SOLUTIONS IN PARKING MANAGEMENT MARKET SHARE BY REGION, 2022 VS 2030 (%)
3. GLOBAL PARKING GUIDANCE SOLUTION MARKET SHARE BY REGION, 2022 VS 2030 (%)
4. GLOBAL PARKING RESERVATION MARKET SHARE BY REGION, 2022 VS 2030 (%)
5. GLOBAL PARKING PERMIT MARKET SHARE BY REGION, 2022 VS 2030 (%)
6. GLOBAL PARKING ENFORCEMENT MARKET SHARE BY REGION, 2022 VS 2030 (%)
7. GLOBAL PARKING ACCESS AND REVENUE CONTROL (PARC) MARKET SHARE BY REGION, 2022 VS 2030 (%)
8. GLOBAL PARKING SECURITY AND SURVEILLANCE MARKET SHARE BY REGION, 2022 VS 2030 (%)
9. GLOBAL PARKING ANALYTICS MARKET SHARE BY REGION, 2022 VS 2030 (%)
10. GLOBAL SERVICES IN PARKING MANAGEMENT MARKET SHARE BY REGION, 2022 VS 2030 (%)
11. GLOBAL PROFESSIONAL SERVICES IN PARKING MANAGEMENT MARKET SHARE BY REGION, 2022 VS 2030 (%)
12. GLOBAL CONSULTING AND TRAINING IN PARKING MANAGEMENT MARKET SHARE BY REGION, 2022 VS 2030 (%)
13. GLOBAL SYSTEM INTEGRATION AND DEPLOYMENT IN PARKING MANAGEMENT MARKET SHARE BY REGION, 2022 VS 2030 (%)
14. GLOBAL SUPPORT AND MAINTENANCE IN PARKING MANAGEMENT MARKET SHARE BY REGION, 2022 VS 2030 (%)
15. GLOBAL MANAGED SERVICES IN PARKING MANAGEMENT MARKET SHARE BY REGION, 2022 VS 2030 (%)
16. GLOBAL PARKING MANAGEMENT MARKET SHARE BY PARKING SITE, 2022 VS 2030 (%)
17. GLOBAL OFF-STREET PARKING MANAGEMENT MARKET SHARE BY REGION, 2022 VS 2030 (%)
18. GLOBAL ON-STREET PARKING MANAGEMENT MARKET SHARE BY REGION, 2022 VS 2030 (%)
19. GLOBAL PARKING MANAGEMENT MARKET SHARE BY REGION, 2022 VS 2030 (%)
20. US PARKING MANAGEMENT MARKET SIZE, 2022-2030 ($ MILLION)
21. CANADA PARKING MANAGEMENT MARKET SIZE, 2022-2030 ($ MILLION)
22. UK PARKING MANAGEMENT MARKET SIZE, 2022-2030 ($ MILLION)
23. FRANCE PARKING MANAGEMENT MARKET SIZE, 2022-2030 ($ MILLION)
24. GERMANY PARKING MANAGEMENT MARKET SIZE, 2022-2030 ($ MILLION)
25. ITALY PARKING MANAGEMENT MARKET SIZE, 2022-2030 ($ MILLION)
26. SPAIN PARKING MANAGEMENT MARKET SIZE, 2022-2030 ($ MILLION)
27. REST OF EUROPE PARKING MANAGEMENT MARKET SIZE, 2022-2030 ($ MILLION)
28. INDIA PARKING MANAGEMENT MARKET SIZE, 2022-2030 ($ MILLION)
29. CHINA PARKING MANAGEMENT MARKET SIZE, 2022-2030 ($ MILLION)
30. JAPAN PARKING MANAGEMENT MARKET SIZE, 2022-2030 ($ MILLION)
31. SOUTH KOREA PARKING MANAGEMENT MARKET SIZE, 2022-2030 ($ MILLION)
32. REST OF ASIA-PACIFIC PARKING MANAGEMENT MARKET SIZE, 2022-2030 ($ MILLION)
33. REST OF THE WORLD PARKING MANAGEMENT MARKET SIZE, 2022-2030 ($ MILLION)
