Press release
Parking Management Market Growth and Future Scope Of Key Major Players are 3M Company, TCS International Inc, Amano Corporation, TransCore LP, Integrapark, Passport Parking, HCL Technologies Ltd, Siemens AG, Netpark, Data Ticket, and Energy Development Co
Internationally, the number of vehicles is increasing rapidly intensifying the problems related to the scarcity of parking space. Traffic blockage and other transportation-related problems occur due to vehicle that cannot find space for parking. Therefore, the necessity of efficient and smart parking system is increasing. Modern advanced parking management systems are intelligent enough to provide high level of convenience to the drivers, automating and simplifying the business operations, and other functions at the parking site.
Global Parking Management Market Size:
According to our report, The Global Parking Management Market Was Valued 2.85 Billion USD in 2016 and this value predicted to reach 4.8 Billion USD by 2021 growing at a significant CAGR of 9.7% during 2016 to 2021.
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Drivers and Restraints:
The Demand for smooth traffic flow is becoming the major driving factor for the adoption of parking management systems across the big cities. Market is also expected to be growing on seamless traffic flow, reduction in fuel consumption and increasing motor vehicle sales. Parking management system decline hardware and connectivity costs, and it also delivers benefits in terms of revenue to the parking site owners. Therefore, revenue generation and smoothing of the traffic flow are the factors driving the adoption of parking management systems. Parking management systems hold huge opportunity for the players in this market in regional economies and smart cities across the world. Furthermore, it has been observed that the integration of advanced analytics into telematics data will provide transparency in data, prevent the risk of cyber-attacks, and attain customer’s trust. Moreover, data analytics software provide better parking facilities to consumers and prevent traffic congestions.
Geographic Segmentation:
Based on Geography, Global Parking Management Market has been segmented into areas like Europe, North America, Latin America, Asia Pacific, and Middle East & Africa. The market has been primarily conquered by North America, followed by Europe. Some of the key players dominating the market are 3M Company, TCS International Inc, Amano Corporation, TransCore LP, LLC, Integrapark, Complus Data Innovations, Inc., Passport Parking, Affiliated Computer Services, HCL Technologies Ltd., Vodafone Group PLC, Tyco Security Products (Nedap AVI), Siemens AG, Netpark, Data Ticket, Group Techna, LLC, Parkopedia Inc. and Energy Development Corporation.
Browse report brief and TOC @ https://www.researchcosmos.com/reports/global-parking-management-market-analysis-and-forecast-to-2022-growth-opportunity-assessment/4906842
Scope of the report:
The report offers a comprehensive analysis of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in effecting the market dynamics and trends are discussed in detail at the product level. Further, the performance of the market at the regional and country-level is assessed and the prospects with high growth potential are identified and debated.
The key players in the industry are profiled providing insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategical activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry are provided.
The report also offers a broad outlook of the market along with recommendations from industry experts on the opportunities for investment activity.
What else? Apart from the syndicated report, our in-house team has an expertise and experience in designing custom reports to meet your specific research needs and assist you in making well-informed decisions.
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About Us:
Research Cosmos is a provider of standard and customized market research, business intelligence and consulting services across more than 100 domains in different industries of the world. We host the trending market reports of the world’s top-notch publishing companies, offering services to a wide range of customers from students to fortune 500 companies and discloses the hidden opportunities in every leading industry of the world.
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