Overview and Scope
Parking management solutions refer to innovative technologies that provide solutions to manage parking. The parking management system has various features such as digitization of payments, enforcement processes, access control, and others. The parking management solutions are used by individuals or organizations to manage their parking systems.
Sizing and Forecast
The parking management solutions market size has grown strongly in recent years. It will grow from $3.9 billion in 2024 to $4.24 billion in 2024 at a compound annual growth rate (CAGR) of 8.5%. The growth in the historic period can be attributed to urbanization and population growth, rising number of vehicles, environmental concerns and sustainable urban planning, government initiatives and regulations.
The parking management solutions market size is expected to see strong growth in the next few years. It will grow to $6.01 billion in 2028 at a compound annual growth rate (CAGR) of 9.1%. The growth in the forecast period can be attributed to integration with smart city initiatives, mobile payment and contactless solutions, real-time data analytics, electric vehicle (ev) charging integration, autonomous vehicle integration, focus on user experience. Major trends in the forecast period include smart city initiatives, iot and sensor technologies, mobile applications and payment systems, contactless and touchless solutions.
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Segmentation & Regional Insights
The parking management solutions market covered in this report is segmented –
1) By Type: Solutions, Services
2) By Parking Site: On-Site Parking, Off-Site Parking
3) By Technology: Parking Meters, Parking Kiosks
4) By Application: Transport, Commercial, Government
Top 5 Major Plyers:
- Amano Corporatio
- Bosch Group
- Siemens AG
- Skidata GmbH
- Swarco Corporation
North America was the largest region in the parking management solutions market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the parking management solutions market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
Cloud-native parking management solutions are expected to propel the growth of the parking management solutions market going forward. Cloud-native technology is a way of designing, building, and running workloads in the cloud that reaps the benefits of the cloud computing model. Cloud-native technology in parking management solutions will help the parking management solutions market to provide better service for their customers. For instance, according to Tigera, a US-based cloud-native application protection company, in 2022, 75% of companies are putting their focus on using and developing cloud-native applications. Also, according to another report published by Cloud Native Computing Foundation, a US-based computer software company, in May 2022, the global cloud-native developer population has increased by one million in 2021. As of now, there are an estimated 7.1 million cloud-native developers worldwide. Therefore, cloud-native parking solutions are driving the parking management solutions market growth.
Key Industry Players
Major companies operating in the parking management solutions market report are Amano Corporation, Bosch Group, Siemens AG, Skidata GmbH, Swarco Corporation, T2 Systems, Flowbird Group, TIBA Parking Systems, IPS Group, Chetu Inc., Conduent Inc., Q-Free ASA, FlashParking Inc, ParkMobile Inc, SpotHero, Get My Parking, INRIX Inc., Skyline Parking AG, Unitronics, Cleverciti Systems GmbH, Bond Traffic Solutions, Infocomm Group LLC, International Business Machines Corporation (IBM), Robotic Parking Systems Inc., Xerox Corporation, Streetline, Pavemint
The parking management solutions market report table of contents includes:
1. Executive Summary
2. Parking Management Solutions Market Characteristics
3. Parking Management Solutions Market Trends And Strategies
4. Parking Management Solutions Market – Macro Economic Scenario
5. Global Parking Management Solutions Market Size and Growth
….
31. Global Parking Management Solutions Market Competitive Benchmarking
32. Global Parking Management Solutions Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Parking Management Solutions Market
34. Parking Management Solutions Market Future Outlook and Potential Analysis
35. Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Parking Management Solutions Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Parking Management Solutions Market, Segmentation By Parking Site, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Parking Management Solutions Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
….
Table 75: Amano Corporation Financial Performance
Table 76: Bosch Group Financial Performance
Table 77: Siemens AG Financial Performance
Table 78: Skidata GmbH Financial Performance
Table 79: Swarco Corporation Financial Performance
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