Key Takeaways from Global Parking Management Solution Market Offered in New Research Forecasted through 2025

The Global Parking Management Solution Market is progressive with intensifying traffic congestion and need for effective parking systems to address parking concerns across the world. Demand for off-street parking spaces, usually indoor and outdoor parking spaces such as parking lots and garages that are operated by private agencies is expected to support the growth of parking management solution market. Major cities across the world such as Los Angeles, London, San Francisco, Berlin, Shanghai, Hong King, Beijing, and Tokyo are adopting advanced parking management solutions to address traffic congestion and transportation issues.

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Keen players are focused hard on accentuating their product line and provide integrated solutions for efficiently managing parking requirements. Not only this, development of cost-effective, reliable, and customer-friendly solutions is also the focus of key players in this market.

Parking management solution refers to a set of hardware designed and developed to manage and maintain parking availability in high demand areas, especially on-street parking spaces. Single space parking meters and multi-space parking meters are major hardware used in parking management solutions that are integrated with automated payment systems and centralized data management that allows people to find parking spaces in desired locations.

A report by Market Research Reports Search Engine says the revenue of global parking management solution market stood at US$285.85 bn in 2016. Expanding at a CAGR of 9.3% between 2017 and 2025, the market is poised to rise to US$614.59 bn by 2025.

Global Parking Management Solution Market: Market Segmentation

The global parking management solution market is categorized based on type into parking meters (single-space parking meter) and parking kiosks (multi-space parking meter) type. Furthermore, the research report provides the complete insights into different parking management solution providers through installed location types which includes on-street parking and parking venues (parking deck, parking complex, etc). The report analyzes each of these segments for various geographies considered under the scope of the study.

Based on the geographical regions, the report segments the global parking management solution market into North America, Europe, Asia Pacific, Middle East & Africa (MEA), and South America, which are analyzed in terms of revenue and volume generation. North America is further segmented into The U.S., Canada and Rest of North America, while Europe is divided into The U.K., Germany, France, Sweden, Norway, Denmark, Finland, Iceland and Rest of Europe. Asia Pacific is subdivided into China, Japan, Australia and Rest of Asia Pacific. Also, MEA is further segmented into The GCC, South Africa and Rest of MEA, while South America is subdivided into Brazil and Rest of South America. The report also covers cross segmentation forecasts of Nordic countries.

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The report also includes the competitive profiling of major players engaged in providing parking management solutions. Major business strategies adopted by them, their market share, and recent developments have also been identified in the research report. This report also provides market positioning analysis of major players operating in the global parking management solution market. The key market players profiled in this study include parking meter and kiosks providers and OEM’s. The prominent providers offering parking management solution include Parkeon S.A.S., Parking BOXX, IPS Group, Inc., METRIC Group Ltd., Ventek International, Worldwide Parking, Inc., J.J. MacKay Canada Limited, CivicSmart, Inc., LocoMobi Inc., POM Inc., and Cale Access AB (Cale Group AB).

Global Parking Management Solution Market

By Type

Parking Meters

Parking Kiosks

By Installed Location

Street Parking

Parking Venues

By Geography

North America

Europe

Asia Pacific

Middle East and Africa

South America

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This release was published on openPR.