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Parking Management Market Size Worth USD 6.96 Billion in 2028, Market Trends – Increasing adoption of Artificial Intelligence-based services in parking management solutions

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Parking Management Market Size Worth USD 6.96 Billion in 2028, Market Trends – Increasing adoption of Artificial Intelligence-based services in parking management solutions

May 04
13:16 2021
The global parking management market size reached USD 3.77 Billion in 2020 and is expected to register a CAGR of 8.1% during the forecast period

The global parking management market size reached USD 3.77 Billion in 2020 and is expected to register a CAGR of 8.1%, during the forecast period, according to latest analysis by Emergen Research. Increasing need for more effective use of parking areas is expected to drive global parking management market revenue growth during the forecast period. In addition, rising number of vehicles globally is expected to propel growth of the global parking management market revenue going ahead. Furthermore, increasing adoption of Artificial Intelligence (AI) based services is expected to boost global parking management market growth.

The global Parking Management market report covers the analysis of drivers, trends, limitations, restraints, and challenges arising in the Parking Management market. The report also discusses the impact of various other market factors affecting the growth of the market across various segments and regions. The report segments the market on the basis of types, applications, and regions to impart a better understanding of the Parking Management market.

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Some Key Highlights From the Report

Factors such as robust presence of domestic and international parking management solutions providers such as Conduent Inc., T2 Systems, Inc., IPS Group, Inc., FlashParking, Inc., and ParkMobile USA, Inc. among others in countries in North America and increasing number of vehicles in countries including the United States and Canada are expected to drive growth of the market in the region during the forecast period.

Key players in the market include Amano Corporation, Siemens AG, Conduent Inc., T2 Systems, Inc., APCOA Parking AG, IPS Group, Inc., FlashParking, Inc., Q-Free ASA, ParkMobile USA, Inc., and Cleverciti Systems GmbH

In January 2020, XPERT Parkering AB was acquired by APCOA Parking Sweden AB, which is a division of APCOA Parking AG. This acquisition will enhance parking and mobility services capabilities of APCOA Parking Sweden

Key Benefits of the Report:

  • Comprehensive analysis of the competitive scenario and its changing dynamics
  • Analytical data with detailed SWOT analysis and Porter’s Five Forces analysis
  • In-depth 8-year analysis of the Global Parking Management Market
  • Critical understanding of the key market segments 
  • Comprehensive analysis of the drivers, restraints, trends, and opportunities
  • Detailed regional analysis and extensive company profiling
  • Extensive assessment of current and emerging trends of the market

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Emergen Research has segmented the global parking management market on the basis of offering, services, solutions, deployment, parking site, end-use, and region:

  • Offering Outlook (Revenue, USD Billion; 2018–2028)
    • Services
    • Solutions
  • Service Outlook (Revenue, USD Billion; 2018–2028)
    • Support & Maintenance
    • System Integration
    • Consulting
  • Solution Outlook (Revenue, USD Billion; 2018–2028)
    • Security & Surveillance
    • Valet Parking
    • Parking Reservation
    • Revenue Management
    • Access Control
    • Others
  • Deployment Outlook (Revenue, USD Billion; 2018–2028)
    • Cloud
    • On-premises
  • Parking Site Outlook (Revenue, USD Billion; 2018–2028)
    • Off-street
    • On-street
  • End-use Outlook (Revenue, USD Billion; 2018–2028)
    • Commercial
    • Transportation
    • Government

Regional Analysis Covers:

  • North America (U.S., Canada)
  • Europe (U.K., Italy, Germany, France, Rest of EU)
  • Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
  • Latin America (Chile, Brazil, Argentina, Rest of Latin America)
  • Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

The report is an investigative study of the technological developments and product advancements, along with a regional analysis for each product and application offered in the market. The fundamental objective of the report is to give an insight into the workings of the Parking Management industry. It provides an accurate and strategic outlook of the market with a thorough assessment of the segments and sub-segments of the market. It provides a panoramic view of the industry to offer a deeper understanding of the global industry.

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Table of Content

Chapter 1. Methodology & Sources

    1.1. Market Definition

    1.2. Research Scope 

    1.3. Methodology

    1.4. Research Sources

          1.4.1. Primary

          1.4.2. Secondary

          1.4.3. Paid Sources

    1.5. Market Estimation Technique

Chapter 2. Executive Summary

    2.1. Summary Snapshot, 2021–2028

Chapter 3. Key Insights

Chapter 4. Parking Management Market Segmentation & Impact Analysis

    4.1. Parking Management Market Material Segmentation Analysis

    4.2. Industrial Outlook

          4.2.1. Market indicators analysis

          4.2.2. Market drivers analysis

           Increasing need for most effective use of parking areas

           Increasing smart city project around the world

           Rising number of vehicles globally

           Increasing demand for solutions to protect vehicle from theft

          4.2.3. Market restraints analysis

           Difficulties of system integration

           High costs of deployment

    4.3. Technological Insights

    4.4. Regulatory Framework

    4.5. Porter’s Five Forces Analysis

    4.6. Competitive Metric Space Analysis

    4.7. Price trend Analysis

    4.8. Covid-19 Impact Analysis

Chapter 5. Parking Management Market By Offering Insights & Trends, Revenue (USD Billion)

    5.1. Offering Dynamics & Market Share, 2021–2028

          5.1.1. Services

          5.1.2. Solutions

Chapter 6. Parking Management Market By Service Insights & Trends, Revenue (USD Billion)

    6.1. Service Dynamics & Market Share, 2021–2028

          6.1.1. Support & Maintenance

          6.1.2. System Integration

          6.1.3. Consulting

Chapter 7. Parking Management Market By Solution Insights & Trends, Revenue (USD Billion)

    7.1. Solution Dynamics & Market Share, 2021–2028

          7.1.1. Security & Surveillance

          7.1.2. Valet Parking

          7.1.3. Parking Reservation

          7.1.4. Revenue Management

          7.1.5. Access Control

          7.1.6. Others


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