Parking Management Market Size, Share & Analysis Report, 2023-2032
The global parking management size was exhibited at USD 5.38 billion in 2022 and is projected to hit around USD 12.91 billion by 2032, growing at a CAGR of 9.15% during the forecast period 2023 to 2032.
Key Pointers:
Parking Management Market Report Scope
|
Report Coverage |
Details |
|
Market Size in 2023 |
USD 5.87 Billion |
|
Market Size by 2032 |
USD 12.91 Billion |
|
Growth Rate From 2023 to 2032 |
CAGR of 9.15% |
|
Base Year |
2022 |
|
Forecast Period |
2023 to 2032 |
|
Segments Covered |
By Solution, By Service, By Deployment Type, By Parking Site, By Off-Street Parking and By Application |
|
Market Analysis (Terms Used) |
Value (US$ Million/Billion) or (Volume/Units) |
|
Regional Scope |
North America; Europe; Asia Pacific; Central and South America; the Middle East and Africa |
|
Key Companies Profiled |
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, Ta2 Systems Inc. (Verra Mobility) and Others. |
The rise in the number of vehicles across the world, growing demand for an effective traffic management solution, and rapid development of smart cities are contributing to the growth of this market. Due to the COVID-19 pandemic, there was a modest decrease in growth activities as many countries imposed strict restrictions by announcing complete lockdowns. Additionally, the government of several nations invested heavily in their healthcare systems to help identify the signs of the virus and stop the spread, which included restriction measures such as no crowding of public transport stations and vehicles that hindered the growth of parking management for a short period.
However, the ease in travel restrictions currently is expected to propel the market demand, as most of the places are opening with full occupancy which will push the demand for parking management. The rise in parking management makes cloud-native parking management also rise to the occasion, with parking operators running their infrastructure via the cloud, owing to multiple benefits such as scalability and a pay-as-you-go model.
For instance, in July 2022, Amano McGann launched Amano ONE, a cloud-based parking accessibility and revenue process control system which streamlines parking operations. The system is simple to install and administer with low maintenance requirements. It is also user-friendly.
Technological advancements such as the Internet of Things (IoT), parking sensors, and electronic payment methods are additionally supporting the growth of this market. Firms are trying to deliver an enhanced customer experience and offer hassle-free parking that can help them gain a competitive advantage over others.
With the help of real-time data and analytics, organizations can allocate spaces, provide access control, and reduce administrative overhead spent on parking. For instance, in November 2022, Robert Bosch GmbH announced a partnership with Mercedes-Benz to launch automated self-parking software. The software allows vehicles to park themselves in spaces reserved in the parking lot of Stuttgart Airport.
Parking management is a cost-effective and reliable solution that reduces the time spent by drivers in finding available carpark space and traffic congestion. Furthermore, the increased adoption of electric vehicles compels city authorities to implement charging stations to push the demand for parking management higher. Parking management helps businesses in reaching their maximum potential by offering them space optimization. Features such as hassle-free booking, simple navigation, seamless customer experience, live reports, and parking enforcement options are anticipated to fuel the demand for parking management.
Parking management helps in customizing and reserving parking spaces as per company guidelines and staff requirements. The focus is rapidly shifting from hardware to digital solutions as hardware solutions had multiple concerns relating to security, obstructive parking, and unallocated spots. Currently, office-centric parking solutions, also called employee parking software, are witnessing significant growth due to the increased capacity they can offer without having to increase the actual space.
For instance, in February 2022, Yellowbrick International BV, a subsidiary of Flowbird Group acquired PICONET, a parking payment solution provider. Through the acquisition, the former company expanded its presence in the Romanian market for mobile parking apps.
Some of the prominent players in the Parking Management Market include:
Segments Covered in the Report
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2032. For this study, Nova one advisor, Inc. has segmented the global Parking Management market.
By Solution
By Service
By Deployment Type
By Parking Site
By Off-Street Parking
By Application Insights
By Region
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Parking Management Market
5.1. COVID-19 Landscape: Parking Management Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Parking Management Market, By Solution
8.1. Parking Management Market, by Solution, 2023-2032
8.1.1. Access Control
8.1.1.1. Market Revenue and Forecast (2020-2032)
8.1.2. Security & Surveillance
8.1.2.1. Market Revenue and Forecast (2020-2032)
8.1.3. Revenue Management
8.1.3.1. Market Revenue and Forecast (2020-2032)
8.1.4. Parking Reservation Management
8.1.4.1. Market Revenue and Forecast (2020-2032)
8.1.5. Valet Parking Management
8.1.6.1. Market Revenue and Forecast (2020-2032)
8.1.6. Others
8.1.5.1. Market Revenue and Forecast (2020-2032)
Chapter 9. Global Parking Management Market, By Service
9.1. Parking Management Market, by Service, 2023-2032
9.1.1. Consulting Services
9.1.1.1. Market Revenue and Forecast (2020-2032)
9.1.2. System Integration and Deployment
9.1.2.1. Market Revenue and Forecast (2020-2032)
9.1.3. Support and Maintenance
9.1.3.1. Market Revenue and Forecast (2020-2032)
Chapter 10. Global Parking Management Market, By Deployment Type
10.1. Parking Management Market, by Deployment Type, 2023-2032
10.1.1. On-premise
10.1.1.1. Market Revenue and Forecast (2020-2032)
10.1.2. Cloud
10.1.2.1. Market Revenue and Forecast (2020-2032)
Chapter 11. Global Parking Management Market, By Parking Site
11.1. Parking Management Market, by Parking Site, 2023-2032
11.1.1. On-Street
11.1.1.1. Market Revenue and Forecast (2020-2032)
11.1.2. Off-Street
11.1.2.1. Market Revenue and Forecast (2020-2032)
Chapter 12. Global Parking Management Market, By Off-Street Parking
12.1. Parking Management Market, by Off-Street Parking, 2023-2032
12.1.1. Garage Parking
12.1.1.1. Market Revenue and Forecast (2020-2032)
12.1.2. Lot Parking
Chapter 13. Global Parking Management Market, By Application Insights
13.1. Parking Management Market, by Application Insights, 2023-2032
13.1.1. Transport Transit
13.1.1.1. Market Revenue and Forecast (2020-2032)
13.1.2. Commercial
13.1.2.1. Market Revenue and Forecast (2020-2032)
13.1.3. Government
13.1.3.1. Market Revenue and Forecast (2020-2032)
Chapter 14. Global Parking Management Market, Regional Estimates and Trend Forecast
14.1. North America
14.1.1. Market Revenue and Forecast, by Solution (2020-2032)
14.1.2. Market Revenue and Forecast, by Service (2020-2032)
14.1.3. Market Revenue and Forecast, by Deployment Type (2020-2032)
14.1.4. Market Revenue and Forecast, by Parking Site (2020-2032)
14.1.5. Market Revenue and Forecast, by Off-Street Parking (2020-2032)
14.1.6. Market Revenue and Forecast, by Application Insights (2020-2032)
14.1.7. U.S.
14.1.7.1. Market Revenue and Forecast, by Solution (2020-2032)
14.1.7.2. Market Revenue and Forecast, by Service (2020-2032)
14.1.7.3. Market Revenue and Forecast, by Deployment Type (2020-2032)
14.1.7.4. Market Revenue and Forecast, by Parking Site (2020-2032)
14.1.8. Market Revenue and Forecast, by Off-Street Parking (2020-2032)
14.1.8.1. Market Revenue and Forecast, by Application Insights (2020-2032)
14.1.9. Rest of North America
14.1.9.1. Market Revenue and Forecast, by Solution (2020-2032)
14.1.9.2. Market Revenue and Forecast, by Service (2020-2032)
14.1.9.3. Market Revenue and Forecast, by Deployment Type (2020-2032)
14.1.9.4. Market Revenue and Forecast, by Parking Site (2020-2032)
14.1.10. Market Revenue and Forecast, by Off-Street Parking (2020-2032)
14.1.11. Market Revenue and Forecast, by Application Insights (2020-2032)
14.1.11.1.
14.2. Europe
14.2.1. Market Revenue and Forecast, by Solution (2020-2032)
14.2.2. Market Revenue and Forecast, by Service (2020-2032)
14.2.3. Market Revenue and Forecast, by Deployment Type (2020-2032)
14.2.4. Market Revenue and Forecast, by Parking Site (2020-2032)
14.2.5. Market Revenue and Forecast, by Off-Street Parking (2020-2032)
14.2.6. Market Revenue and Forecast, by Application Insights (2020-2032)
14.2.7.
14.2.8. UK
14.2.8.1. Market Revenue and Forecast, by Solution (2020-2032)
14.2.8.2. Market Revenue and Forecast, by Service (2020-2032)
14.2.8.3. Market Revenue and Forecast, by Deployment Type (2020-2032)
14.2.9. Market Revenue and Forecast, by Parking Site (2020-2032)
14.2.10. Market Revenue and Forecast, by Off-Street Parking (2020-2032)
14.2.10.1. Market Revenue and Forecast, by Application Insights (2020-2032)
14.2.11. Germany
14.2.11.1. Market Revenue and Forecast, by Solution (2020-2032)
14.2.11.2. Market Revenue and Forecast, by Service (2020-2032)
14.2.11.3. Market Revenue and Forecast, by Deployment Type (2020-2032)
14.2.12. Market Revenue and Forecast, by Parking Site (2020-2032)
14.2.13. Market Revenue and Forecast, by Off-Street Parking (2020-2032)
14.2.14. Market Revenue and Forecast, by Application Insights (2020-2032)
14.2.14.1.
14.2.15. France
14.2.15.1. Market Revenue and Forecast, by Solution (2020-2032)
14.2.15.2. Market Revenue and Forecast, by Service (2020-2032)
14.2.15.3. Market Revenue and Forecast, by Deployment Type (2020-2032)
14.2.15.4. Market Revenue and Forecast, by Parking Site (2020-2032)
14.2.16. Market Revenue and Forecast, by Off-Street Parking (2020-2032)
14.2.16.1. Market Revenue and Forecast, by Application Insights (2020-2032)
14.2.17. Rest of Europe
14.2.17.1. Market Revenue and Forecast, by Solution (2020-2032)
14.2.17.2. Market Revenue and Forecast, by Service (2020-2032)
14.2.17.3. Market Revenue and Forecast, by Deployment Type (2020-2032)
14.2.17.4. Market Revenue and Forecast, by Parking Site (2020-2032)
14.2.18. Market Revenue and Forecast, by Off-Street Parking (2020-2032)
14.2.18.1. Market Revenue and Forecast, by Application Insights (2020-2032)
14.3. APAC
14.3.1. Market Revenue and Forecast, by Solution (2020-2032)
14.3.2. Market Revenue and Forecast, by Service (2020-2032)
14.3.3. Market Revenue and Forecast, by Deployment Type (2020-2032)
14.3.4. Market Revenue and Forecast, by Parking Site (2020-2032)
14.3.5. Market Revenue and Forecast, by Off-Street Parking (2020-2032)
14.3.6. Market Revenue and Forecast, by Application Insights (2020-2032)
14.3.7. India
14.3.7.1. Market Revenue and Forecast, by Solution (2020-2032)
14.3.7.2. Market Revenue and Forecast, by Service (2020-2032)
14.3.7.3. Market Revenue and Forecast, by Deployment Type (2020-2032)
14.3.7.4. Market Revenue and Forecast, by Parking Site (2020-2032)
14.3.8. Market Revenue and Forecast, by Off-Street Parking (2020-2032)
14.3.9. Market Revenue and Forecast, by Application Insights (2020-2032)
14.3.10. China
14.3.10.1. Market Revenue and Forecast, by Solution (2020-2032)
14.3.10.2. Market Revenue and Forecast, by Service (2020-2032)
14.3.10.3. Market Revenue and Forecast, by Deployment Type (2020-2032)
14.3.10.4. Market Revenue and Forecast, by Parking Site (2020-2032)
14.3.11. Market Revenue and Forecast, by Off-Street Parking (2020-2032)
14.3.11.1. Market Revenue and Forecast, by Application Insights (2020-2032)
14.3.12. Japan
14.3.12.1. Market Revenue and Forecast, by Solution (2020-2032)
14.3.12.2. Market Revenue and Forecast, by Service (2020-2032)
14.3.12.3. Market Revenue and Forecast, by Deployment Type (2020-2032)
14.3.12.4. Market Revenue and Forecast, by Parking Site (2020-2032)
14.3.12.5. Market Revenue and Forecast, by Off-Street Parking (2020-2032)
14.3.12.6. Market Revenue and Forecast, by Application Insights (2020-2032)
14.3.13. Rest of APAC
14.3.13.1. Market Revenue and Forecast, by Solution (2020-2032)
14.3.13.2. Market Revenue and Forecast, by Service (2020-2032)
14.3.13.3. Market Revenue and Forecast, by Deployment Type (2020-2032)
14.3.13.4. Market Revenue and Forecast, by Parking Site (2020-2032)
14.3.13.5. Market Revenue and Forecast, by Off-Street Parking (2020-2032)
14.3.13.6. Market Revenue and Forecast, by Application Insights (2020-2032)
14.4. MEA
14.4.1. Market Revenue and Forecast, by Solution (2020-2032)
14.4.2. Market Revenue and Forecast, by Service (2020-2032)
14.4.3. Market Revenue and Forecast, by Deployment Type (2020-2032)
14.4.4. Market Revenue and Forecast, by Parking Site (2020-2032)
14.4.5. Market Revenue and Forecast, by Off-Street Parking (2020-2032)
14.4.6. Market Revenue and Forecast, by Application Insights (2020-2032)
14.4.7. GCC
14.4.7.1. Market Revenue and Forecast, by Solution (2020-2032)
14.4.7.2. Market Revenue and Forecast, by Service (2020-2032)
14.4.7.3. Market Revenue and Forecast, by Deployment Type (2020-2032)
14.4.7.4. Market Revenue and Forecast, by Parking Site (2020-2032)
14.4.8. Market Revenue and Forecast, by Off-Street Parking (2020-2032)
14.4.9. Market Revenue and Forecast, by Application Insights (2020-2032)
14.4.10. North Africa
14.4.10.1. Market Revenue and Forecast, by Solution (2020-2032)
14.4.10.2. Market Revenue and Forecast, by Service (2020-2032)
14.4.10.3. Market Revenue and Forecast, by Deployment Type (2020-2032)
14.4.10.4. Market Revenue and Forecast, by Parking Site (2020-2032)
14.4.11. Market Revenue and Forecast, by Off-Street Parking (2020-2032)
14.4.12. Market Revenue and Forecast, by Application Insights (2020-2032)
14.4.13. South Africa
14.4.13.1. Market Revenue and Forecast, by Solution (2020-2032)
14.4.13.2. Market Revenue and Forecast, by Service (2020-2032)
14.4.13.3. Market Revenue and Forecast, by Deployment Type (2020-2032)
14.4.13.4. Market Revenue and Forecast, by Parking Site (2020-2032)
14.4.13.5. Market Revenue and Forecast, by Off-Street Parking (2020-2032)
14.4.13.6. Market Revenue and Forecast, by Application Insights (2020-2032)
14.4.14. Rest of MEA
14.4.14.1. Market Revenue and Forecast, by Solution (2020-2032)
14.4.14.2. Market Revenue and Forecast, by Service (2020-2032)
14.4.14.3. Market Revenue and Forecast, by Deployment Type (2020-2032)
14.4.14.4. Market Revenue and Forecast, by Parking Site (2020-2032)
14.4.14.5. Market Revenue and Forecast, by Off-Street Parking (2020-2032)
14.4.14.6. Market Revenue and Forecast, by Application Insights (2020-2032)
14.5. Latin America
14.5.1. Market Revenue and Forecast, by Solution (2020-2032)
14.5.2. Market Revenue and Forecast, by Service (2020-2032)
14.5.3. Market Revenue and Forecast, by Deployment Type (2020-2032)
14.5.4. Market Revenue and Forecast, by Parking Site (2020-2032)
14.5.5. Market Revenue and Forecast, by Off-Street Parking (2020-2032)
14.5.6. Market Revenue and Forecast, by Application Insights (2020-2032)
14.5.7. Brazil
14.5.7.1. Market Revenue and Forecast, by Solution (2020-2032)
14.5.7.2. Market Revenue and Forecast, by Service (2020-2032)
14.5.7.3. Market Revenue and Forecast, by Deployment Type (2020-2032)
14.5.7.4. Market Revenue and Forecast, by Parking Site (2020-2032)
14.5.8. Market Revenue and Forecast, by Off-Street Parking (2020-2032)
14.5.8.1. Market Revenue and Forecast, by Application Insights (2020-2032)
14.5.9. Rest of LATAM
14.5.9.1. Market Revenue and Forecast, by Solution (2020-2032)
14.5.9.2. Market Revenue and Forecast, by Service (2020-2032)
14.5.9.3. Market Revenue and Forecast, by Deployment Type (2020-2032)
14.5.9.4. Market Revenue and Forecast, by Parking Site (2020-2032)
14.5.9.5. Market Revenue and Forecast, by Off-Street Parking (2020-2032)
14.5.9.6. Market Revenue and Forecast, by Application Insights (2020-2032)
Chapter 15. Company Profiles
15.1. 3M Company
15.1.1. Company Overview
15.1.2. Product Offerings
15.1.3. Financial Performance
15.1.4. Recent Initiatives
15.2. Amano Corporation
15.2.1. Company Overview
15.2.2. Product Offerings
15.2.3. Financial Performance
15.2.4. Recent Initiatives
15.3. Cubic Corporation
15.3.1. Company Overview
15.3.2. Product Offerings
15.3.3. Financial Performance
15.3.4. Recent Initiatives
15.4. FlashParking Inc. (Arrive Mobility Inc.)
15.4.1. Company Overview
15.4.2. Product Offerings
15.4.3. Financial Performance
15.4.4. Recent Initiatives
15.5. Infocomm Group LLC
15.5.1. Company Overview
15.5.2. Product Offerings
15.5.3. Financial Performance
15.5.4. Recent Initiatives
15.6. International Business Machines Corporation
15.6.1. Company Overview
15.6.2. Product Offerings
15.6.3. Financial Performance
15.6.4. Recent Initiatives
15.7. Passport Labs Inc.
15.7.1. Company Overview
15.7.2. Product Offerings
15.7.3. Financial Performance
15.7.4. Recent Initiatives
15.8. Q-Free ASA
15.8.1. Company Overview
15.8.2. Product Offerings
15.8.3. Financial Performance
15.8.4. Recent Initiatives
15.9. Robert Bosch GmbH
15.9.1. Company Overview
15.9.2. Product Offerings
15.9.3. Financial Performance
15.9.4. Recent Initiatives
15.10. SAP SE
15.10.1. Company Overview
15.10.2. Product Offerings
15.10.3. Financial Performance
15.10.4. Recent Initiatives
Chapter 16. Research Methodology
16.1. Primary Research
16.2. Secondary Research
16.3. Assumptions
Chapter 17. Appendix
17.1. About Us
17.2. Glossary of Terms
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers