According to the publisher's latest market study on “Parking Management Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Parking site, Solution, Services, and Deployment Type,” market is expected to grow from US$ 32,221.73 million in 2021 to US$ 45,125.82 million by 2028; it is estimated to grow at a CAGR of 4.9% during 2021-2028.
Significant Rise in Number of Vehicles on Road to Drive Market Growth during Forecast Period
The global automotive industry is experiencing huge demand for vehicles, which is expected to further increase exponentially year on year. The number of vehicles from every class is constantly rising in developed regions and developing regions. According to Organization Internationale des Constructeurs d'Automobiles (OICA), a total number of vehicles sold in 2020 accounted for almost 77 Mn, as compared to 90 Mn in 2019, this drop in number of vehicles sold is due to COVID-19 impact. Out of 77 Mn vehicles sold, the passenger car segment accounted for 53 million, and the rest 24 million recorded for commercial vehicles. Though we experience moving traffic, however, it has been proven statistically that vehicles spend most of their lives parked. Hence, there is a huge requirement for an efficient and effective parking infrastructure in the era of the aggressive rise in the number of vehicles across the globe. Majority of the cities globally are facing a severe problem with traffic congestion, and the same is reaching towards an alarming issue shortly. The car parking issue is a key contributor and is still a significant problem with growing vehicle size in the luxurious, semi-luxurious, and commercial vehicle segment and confined parking spaces in urban cities. In addition, limited availability of information related to vacant parking spaces, especially on-street, results in a waste of fuel and time, leading to traffic congestion. Parking management systems and technology plays a vital role in the parking of vehicles on-street and off-street.
In 2020, the world economy suffered significant consequences, and the effects are expected to endure to some extent. The outbreak has led to disruptions in primary industries including electronics, semiconductor, and automotive. A sharp decline in the growth of mentioned industries is limiting the Parking Management market growth. Factory shutdowns, travel and trade bans, and border lockdowns to combat and contain the infection have impacted the working of many commercial and corporate buildings across the world.
The global parking management market is segmented into five major regions-North America, Europe, APAC, MEA, and SAM. Based on parking site, the global parking management market is segmented into on-street parking and off-street parking. In 2020, the off-street parking segment led the parking management segment accounted for a larger share in the market. Based on solution, the parking management market is segmented into parking guidance solutions, parking reservation solutions, parking security & surveillance solutions and others. In 2020, the others segment led the parking management segment accounted for a larger share in the market. Based on services, the parking management market is segmented into managed services and professional services. In 2020, the managed services segment led the parking management segment accounted for a larger share in the market. Based on Deployment, the parking management market is segmented into cloud, and on-premise. In 2020, the on-premise segment led the parking management segment accounted for a larger share in the market.Reasons to Buy
Significant Rise in Number of Vehicles on Road to Drive Market Growth during Forecast Period
The global automotive industry is experiencing huge demand for vehicles, which is expected to further increase exponentially year on year. The number of vehicles from every class is constantly rising in developed regions and developing regions. According to Organization Internationale des Constructeurs d'Automobiles (OICA), a total number of vehicles sold in 2020 accounted for almost 77 Mn, as compared to 90 Mn in 2019, this drop in number of vehicles sold is due to COVID-19 impact. Out of 77 Mn vehicles sold, the passenger car segment accounted for 53 million, and the rest 24 million recorded for commercial vehicles. Though we experience moving traffic, however, it has been proven statistically that vehicles spend most of their lives parked. Hence, there is a huge requirement for an efficient and effective parking infrastructure in the era of the aggressive rise in the number of vehicles across the globe. Majority of the cities globally are facing a severe problem with traffic congestion, and the same is reaching towards an alarming issue shortly. The car parking issue is a key contributor and is still a significant problem with growing vehicle size in the luxurious, semi-luxurious, and commercial vehicle segment and confined parking spaces in urban cities. In addition, limited availability of information related to vacant parking spaces, especially on-street, results in a waste of fuel and time, leading to traffic congestion. Parking management systems and technology plays a vital role in the parking of vehicles on-street and off-street.
In 2020, the world economy suffered significant consequences, and the effects are expected to endure to some extent. The outbreak has led to disruptions in primary industries including electronics, semiconductor, and automotive. A sharp decline in the growth of mentioned industries is limiting the Parking Management market growth. Factory shutdowns, travel and trade bans, and border lockdowns to combat and contain the infection have impacted the working of many commercial and corporate buildings across the world.
Key Findings of Study:
The global parking management market is segmented into five major regions-North America, Europe, APAC, MEA, and SAM. Based on parking site, the global parking management market is segmented into on-street parking and off-street parking. In 2020, the off-street parking segment led the parking management segment accounted for a larger share in the market. Based on solution, the parking management market is segmented into parking guidance solutions, parking reservation solutions, parking security & surveillance solutions and others. In 2020, the others segment led the parking management segment accounted for a larger share in the market. Based on services, the parking management market is segmented into managed services and professional services. In 2020, the managed services segment led the parking management segment accounted for a larger share in the market. Based on Deployment, the parking management market is segmented into cloud, and on-premise. In 2020, the on-premise segment led the parking management segment accounted for a larger share in the market.Reasons to Buy
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global Parking Management market.
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in the global Parking Management market, thereby allowing players across the value chain to develop effective long-term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution.
Table of Contents
1. Introduction1.1 Study Scope1.2 The Publisher's Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Parking Management Market Landscape4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America
4.2.2 Europe
4.2.3 Asia-Pacific
4.2.4 Middle East and Africa
4.2.5 South America
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Parking Management Market - Key Market Dynamics5.1 Market Drivers
5.1.1 Significant Rise in Number of Vehicles on Road
5.1.2 Rising Adoption of Smart Technologies in Parking Management
5.2 Market Restraints
5.2.1 Limited Awareness among the Consumers in Developing Countries
5.3 Market Opportunities
5.3.1 Accentuating Development of Contactless Parking System
5.3.2 Increasing Partnerships and Mergers to Stimulate the Parking Management in Urban Areas
5.4 Future Trends
5.4.1 Simplification of Technologies and Reduction in Cost of the Systems
5.5 Impact Analysis of Drivers and Restraints
6. Parking Management Market - Global Analysis6.1 Parking Management Market Global Overview
6.2 Parking Management Market - Global Revenue and Forecast to 2028 (US$ Million)
6.3 Market Positioning - Five Key Players
7. Parking Management Market Analysis - by Parking Site7.1 Overview
7.2 Global Parking Management Market Breakdown, By Parking Site, 2020 & 2028
7.3 On-Street Parking Management Market
7.3.1 Overview
7.3.2 On-Street Parking Management: Parking Management Market - Revenue and Forecast to 2028 (US$ Million)
7.4 Off-Street Parking Management Market
7.4.1 Overview
7.4.2 Off-Street Parking Management: Parking Management Market - Revenue and Forecast to 2028 (US$ Million)
8. Parking Management Market Revenue And Forecasts to 2028 - Solutions8.1 Overview
8.2 Global Parking Management Market Breakdown, By Solution, 2020 & 2028
8.3 Parking Guidance Solution Market
8.3.1 Overview
8.3.2 Parking Guidance Solution: Parking Management Market - Revenue and Forecast to 2028 (US$ Million)
8.4 Parking Reservation Solution Market
8.4.1 Overview
8.4.2 Parking Reservation Solution: Parking Management Market - Revenue and Forecast to 2028 (US$ Million)
8.5 Parking Security & Surveillance Solution Market
8.5.1 Overview
8.5.2 Parking Security & Surveillance Solution: Parking Management Market - Revenue and Forecast to 2028 (US$ Million)
8.6 Others market
8.6.1 Overview
8.6.2 Others: Parking Management Market - Revenue and Forecast to 2028 (US$ Million)
9. Parking Management Market Revenue And Forecasts to 2028 - Services9.1 Overview
9.2 Global Parking Management Market Breakdown, By Services, 2020 & 2028
9.3 Managed Services Market
9.3.1 Overview
9.3.2 Managed Services: Parking Management Market - Revenue and Forecast to 2028 (US$ Million)
9.4 Professional Services Market
9.4.1 Overview
9.4.2 Professional Services: Parking Management Market - Revenue and Forecast to 2028 (US$ Million)
10. Parking Management Market Revenue and Forecasts To 2028 - Deployment Type10.1 Overview
10.2 Global Parking Management Market Breakdown, By Deployment Type, 2020 & 2028
10.3 On-Premises Deployment Market
10.3.1 Overview
10.3.2 On-Premises Deployment: Parking Management Market - Revenue and Forecast to 2028 (US$ Million)
10.4 Cloud Deployment Market
10.4.1 Overview
10.4.2 Cloud Deployment: Parking Management Market - Revenue and Forecast to 2028 (US$ Million)
11. Parking Management Market - Geographic Analysis11.1 Overview
11.2 North America: Parking Management Market
11.2.1 North America: Parking Management Market - Revenue and Forecast to 2028 (US$ Million)
11.2.2 North America: Parking Management Market - by Parking Site
11.2.3 North America: Parking Management Market - By Solution
11.2.4 North America: Parking Management Market - By Services
11.2.5 North America: Parking Management Market - By Deployment Type
11.2.6 North America: Parking Management Market - by Key Country
11.2.6.1 US: Parking Management Market - Revenue and Forecast to 2028 (US$ Million)
11.2.6.1.1 US: Parking Management Market - by Parking Site
11.2.6.1.2 US: Parking Management Market - By Solution
11.2.6.1.3 US: Parking Management Market - By Services
11.2.6.1.4 US: Parking Management Market - By Services
11.2.6.2 Canada: Parking Management Market - Revenue and Forecast to 2028 (US$ Million)
11.2.6.2.1 Canada: Parking Management Market - by Parking Site
11.2.6.2.2 Canada: Parking Management Market - By Solution
11.2.6.2.3 Canada: Parking Management Market - By Services
11.2.6.2.4 Canada: Parking Management Market - By Deployment Type
11.2.6.3 Mexico: Parking Management Market - Revenue and Forecast to 2028 (US$ Million)
11.2.6.3.1 Mexico: Parking Management Market - by Parking Site
11.2.6.3.2 Mexico: Parking Management Market - By Solution
11.2.6.3.3 Mexico: Parking Management Market - By Services
11.2.6.3.4 Mexico: Parking Management Market - By Deployment Type
11.3 Europe: Parking Management Market
11.3.1 Europe: Parking Management Market - Revenue and Forecast to 2028 (US$ Million)
11.3.2 Europe: Parking Management Market - by Parking Site
11.3.3 Europe: Parking Management Market - By Solution
11.3.4 Europe: Parking Management Market - By Services
11.3.5 Europe: Parking Management Market - by Key Country
11.3.5.1 Germany: Parking Management Market - Revenue and Forecast to 2028 (US$ Million)
11.3.5.1.1 Germany: Parking Management Market - by Parking Site
11.3.5.1.2 Germany: Parking Management Market - By Solution
11.3.5.1.3 Germany: Parking Management Market - By Services
11.3.5.1.4 Germany: Parking Management Market - By Deployment Type
11.3.5.2 France: Parking Management Market - Revenue and Forecast to 2028 (US$ Million)
11.3.5.2.1 France: Parking Management Market - by Parking Site
11.3.5.2.2 France: Parking Management Market - By Solution
11.3.5.2.3 France: Parking Management Market - By Services
11.3.5.2.4 France: Parking Management Market - By Deployment Type
11.3.5.3 Italy: Parking Management Market - Revenue and Forecast to 2028 (US$ Million)
11.3.5.3.1 Italy: Parking Management Market - by Parking Site
11.3.5.3.2 Italy: Parking Management Market - By Solution
11.3.5.3.3 Italy: Parking Management Market - By Services
11.3.5.3.4 Italy: Parking Management Market - By Deployment Type
11.3.5.4 UK: Parking Management Market - Revenue and Forecast to 2028 (US$ Million)
11.3.5.4.1 UK: Parking Management Market - by Parking Site
11.3.5.4.2 UK: Parking Management Market - By Solution
11.3.5.4.3 UK: Parking Management Market - By Services
11.3.5.4.4 UK: Parking Management Market - By Deployment Type
11.3.5.5 Russia: Parking Management Market - Revenue and Forecast to 2028 (US$ Million)
11.3.5.5.1 Russia: Parking Management Market - by Parking Site
11.3.5.5.2 Russia: Parking Management Market - By Solution
11.3.5.5.3 Russia: Parking Management Market - By Services
11.3.5.5.4 Russia: Parking Management Market - By Deployment Type
11.3.5.6 Rest of Europe: Parking Management Market - Revenue and Forecast to 2028 (US$ Million)
11.3.5.6.1 Rest of Europe: Parking Management Market - by Parking Site
11.3.5.6.2 Rest of Europe: Parking Management Market - By Solution
11.3.5.6.3 Rest of Europe: Parking Management Market - By Services
11.3.5.6.4 Rest of Europe: Parking Management Market - By Deployment Type
11.4 APAC: Parking Management Market
11.4.1 APAC: Parking Management Market - Revenue and Forecast to 2028 (US$ Million)
11.4.2 APAC: Parking Management Market - by Parking Site
11.4.3 APAC: Parking Management Market - By Solution
11.4.4 APAC: Parking Management Market - By Services
11.4.5 APAC: Parking Management Market - By Deployment Type
11.4.6 APAC: Parking Management Market - by Key Country
11.4.6.1 Australia: Parking Management Market - Revenue and Forecast to 2028 (US$ Million)
11.4.6.1.1 Australia: Parking Management Market - by Parking Site
11.4.6.1.2 Australia: Parking Management Market - By Solution
11.4.6.1.3 Australia: Parking Management Market - By Services
11.4.6.1.4 Australia: Parking Management Market - By Deployment Type
11.4.6.2 China: Parking Management Market - Revenue and Forecast to 2028 (US$ Million)
11.4.6.2.1 China: Parking Management Market - by Parking Site
11.4.6.2.2 China: Parking Management Market - By Solution
11.4.6.2.3 China: Parking Management Market - By Services
11.4.6.2.4 China: Parking Management Market - By Deployment Type
11.4.6.3 India: Parking Management Market - Revenue and Forecast to 2028 (US$ Million)
11.4.6.3.1 India: Parking Management Market - by Parking Site
11.4.6.3.2 India: Parking Management Market - By Solution
11.4.6.3.3 India: Parking Management Market - By Services
11.4.6.3.4 India: Parking Management Market - By Deployment Type
11.4.6.4 Japan: Parking Management Market - Revenue and Forecast to 2028 (US$ Million)
11.4.6.4.1 Japan: Parking Management Market - by Parking Site
11.4.6.4.2 Japan: Parking Management Market - By Solution
11.4.6.4.3 Japan: Parking Management Market - By Services
11.4.6.4.4 Japan: Parking Management Market - By Deployment Type
11.4.6.5 South Korea: Parking Management Market - Revenue and Forecast to 2028 (US$ Million)
11.4.6.5.1 South Korea: Parking Management Market - by Parking Site
11.4.6.5.2 South Korea: Parking Management Market - By Solution
11.4.6.5.3 South Korea: Parking Management Market - By Services
11.4.6.5.4 South Korea: Parking Management Market - By Deployment Type
11.4.6.6 Rest of APAC: Parking Management Market - Revenue and Forecast to 2028 (US$ Million)
11.4.6.6.1 Rest of APAC: Parking Management Market - by Parking Site
11.4.6.6.2 Rest of APAC: Parking Management Market - By Solution
11.4.6.6.3 Rest of APAC: Parking Management Market - By Services
11.4.6.6.4 Rest of APAC: Parking Management Market - By Deployment Type
11.5 MEA: Parking Management Market
11.5.1 MEA: Parking Management Market - Revenue and Forecast to 2028 (US$ Million)
11.5.2 MEA: Parking Management Market - by Parking Site
11.5.3 MEA: Parking Management Market - By Solution
11.5.4 MEA: Parking Management Market - By Services
11.5.5 MEA: Parking Management Market - By Deployment Type
11.5.6 MEA: Parking Management Market - by Key Country
11.5.6.1 South Africa: Parking Management Market - Revenue and Forecast to 2028 (US$ Million)
11.5.6.1.1 South Africa: Parking Management Market - by Parking Site
11.5.6.1.2 South Africa: Parking Management Market - By Solution
11.5.6.1.3 South Africa: Parking Management Market - By Services
11.5.6.1.4 South Africa: Parking Management Market - By Deployment Type
11.5.6.2 Saudi Arabia: Parking Management Market - Revenue and Forecast to 2028 (US$ Million)
11.5.6.2.1 Saudi Arabia: Parking Management Market - by Parking Site
11.5.6.2.2 Saudi Arabia: Parking Management Market - By Solution
11.5.6.2.3 Saudi Arabia: Parking Management Market - By Services
11.5.6.2.4 Saudi Arabia: Parking Management Market - By Deployment Type
11.5.6.3 UAE: Parking Management Market - Revenue and Forecast to 2028 (US$ Million)
11.5.6.3.1 UAE: Parking Management Market - by Parking Site
11.5.6.3.2 UAE: Parking Management Market - By Solution
11.5.6.3.3 UAE: Parking Management Market - By Services
11.5.6.3.4 UAE: Parking Management Market - By Deployment Type
11.5.6.4 Rest of MEA: Parking Management Market - Revenue and Forecast to 2028 (US$ Million)
11.5.6.4.1 Rest of MEA: Parking Management Market - by Parking Site
11.5.6.4.2 Rest of MEA: Parking Management Market - By Solution
11.5.6.4.3 Rest of MEA: Parking Management Market - By Services
11.5.6.4.4 Rest of MEA: Parking Management Market - By Deployment Type
11.6 SAM: Parking Management Market
11.6.1 SAM: Parking Management Market - Revenue and Forecast to 2028 (US$ Million)
11.6.2 SAM: Parking Management Market - by Parking Site
11.6.3 SAM: Parking Management Market - By Solution
11.6.4 SAM: Parking Management Market - By Services
11.6.5 SAM: Parking Management Market - By Deployment Type
11.6.6 SAM: Parking Management Market - by Key Country
11.6.6.1 Brazil: Parking Management Market - Revenue and Forecast to 2028 (US$ Million)
11.6.6.1.1 Brazil: Parking Management Market - by Parking Site
11.6.6.1.2 Brazil: Parking Management Market - By Solution
11.6.6.1.3 Brazil: Parking Management Market - By Services
11.6.6.1.4 Brazil: Parking Management Market - By Deployment Type
11.6.6.2 Argentina: Parking Management Market - Revenue and Forecast to 2028 (US$ Million)
11.6.6.2.1 Argentina: Parking Management Market - by Parking Site
11.6.6.2.2 Argentina: Parking Management Market - By Solution
11.6.6.2.3 Argentina: Parking Management Market - By Services
11.6.6.2.4 Argentina: Parking Management Market - By Deployment Type
11.6.6.3 Rest of SAM: Parking Management Market - Revenue and Forecast to 2028 (US$ Million)
11.6.6.3.1 Rest of SAM: Parking Management Market - by Parking Site
11.6.6.3.2 Rest of SAM: Parking Management Market - By Solution
11.6.6.3.3 Rest of SAM: Parking Management Market - By Services
11.6.6.3.4 Rest of SAM: Parking Management Market - By Deployment Type
12. Parking Management Market - COVID-19 Impact Analysis12.1 Overview
12.2 North America
12.3 Europe
12.4 Asia Pacific
12.5 Middle East and Africa
12.6 South America
13. Industry Landscape13.1 Overview
13.2 Market Initiative
13.3 New Product Development
13.4 Merger and Acquisition
14. Company Profiles14.1 Flowbird Group
14.1.1 Key Facts
14.1.2 Business Description
14.1.3 Products and Services
14.1.4 Financial Overview
14.1.5 SWOT Analysis
14.1.6 Key Developments
14.2 Passport Labs, Inc.
14.2.1 Key Facts
14.2.2 Business Description
14.2.3 Products and Services
14.2.4 Financial Overview
14.2.5 SWOT Analysis
14.2.6 Key Developments
14.3 T2 Systems, Inc
14.3.1 Key Facts
14.3.2 Business Description
14.3.3 Products and Services
14.3.4 Financial Overview
14.3.5 SWOT Analysis
14.3.6 Key Developments
14.4 Tiba Parking Systems
14.4.1 Key Facts
14.4.2 Business Description
14.4.3 Products and Services
14.4.4 Financial Overview
14.4.5 SWOT Analysis
14.4.6 Key Developments
14.5 GROUP Indigo
14.5.1 Key Facts
14.5.2 Business Description
14.5.3 Products and Services
14.5.4 Financial Overview
14.5.5 SWOT Analysis
14.5.6 Key Developments
14.6 Precise Parklink Inc.
14.6.1 Key Facts
14.6.2 Business Description
14.6.3 Products and Services
14.6.4 Financial Overview
14.6.5 SWOT Analysis
14.6.6 Key Developments
14.7 FlashParking
14.7.1 Key Facts
14.7.2 Business Description
14.7.3 Products and Services
14.7.4 Financial Overview
14.7.5 SWOT Analysis
14.7.6 Key Developments
14.8 Amano Corporation.
14.8.1 Key Facts
14.8.2 Business Description
14.8.3 Products and Services
14.8.4 Financial Overview
14.8.5 SWOT Analysis
14.8.6 Key Developments
14.9 Robert Bosch GmbH
14.9.1 Key Facts
14.9.2 Business Description
14.9.3 Products and Services
14.9.4 Financial Overview
14.9.5 SWOT Analysis
14.9.6 Key Developments
14.10 Siemens AG
14.10.1 Key Facts
14.10.2 Business Description
14.10.3 Products and Services
14.10.4 Financial Overview
14.10.5 SWOT Analysis
14.10.6 Key Developments
15. Appendix15.1 About the Publisher
15.2 Word Index
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Indigo Parking Service
- Streetline
- Flowbird Group
- Parkmobile
- TIBA Parking
- Smart Parking Limited
- T2 Systems
- Swarco
- Passport Inc.
- Siemens AG
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 177 |
| Published | July 2021 |
| Forecast Period | 2021 - 2028 |
| Estimated Market Value ( USD | $ 32221.73 Million |
| Forecasted Market Value ( USD | $ 45125.82 Million |
| Compound Annual Growth Rate | 4.9% |
| Regions Covered | Global |
