Parking Management Market Impact of drivers and challenges estimated to witness a moderate CAGR growth rate of 4.8% from 2019 to 2027 with APCOA, Flowbird Group, Parkmobile, TIBA Parking, Smart Parking Limited, T2 Systems, Swarco, Passport Inc., and Skida

A complete analysis of the competitive landscape of the Global Parking Management Market is provided in the report. This section includes company profiles of market key players. The profiles include contact information, gross, capacity, product details of each firm, price, and cost.

The global parking management market was valued at US$ 37.6 Bn in 2017 and is expected to reach US$ 58.5 billion by 2027 and estimated to witness a moderate CAGR growth rate of 4.8% from 2019 to 2027.

Global Parking Management market and the factors driving the market along with those that act as restraints to its growth. The global Parking Management market is witnessing a sheer rise in the current scenario and is expected to expand in the coming years. Various technological advancements made by the players operating in the market is one of the major factor expected to propel the demand of Parking Management market. However, stringent regulatory framework in the market is expected to hinder the market growth.

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The parking management market is poised to flourish in the coming years because several developing country governments are attracting foreign direct investments (FDI) to optimize traffic congestion and enhance parking operations. Additionally, the smart city initiatives in the developing countries are also gaining speed, which is also expected to catalyze the demand for technologically advanced and intelligent parking management solutions.

The List of Companies

1. Flowbird Group
2. Indigo Parking Service
3. ParkMobile
4. Passport Inc.
5. Siemens AG
6. Smart Parking Ltd.
7. Streetline
8. Swarco
9. T2 Systems
10. Tiba Parking

Moreover, the increasing commercialization and urbanization in the developing countries coupled with increasing vehicles on the road are expected to accentuate the demands for various on-street and off-street parking management solutions. Furthermore, the reduction in the cost of technology and services by the solution service providers is foreseen to stimulate the adoption growth of parking management market in several developed countries as well as developing countries worldwide.

The rising trend of commercialization and industrialization across the globe has led to steep growth in the off-street parking in the current scenario. Additionally, the residential sector also drives the off-street parking segment significantly. Off street parking includes indoor as well as outdoor parking spaces. Another major factor influencing the growth of off-street parking in the developed countries and few financially emerging countries is the rapid growth of smart cities. The rising smart city initiatives are driving the deployment of sensors and related technologies for various applications which includes parking.

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Owing to this, several parking management technology developers as well as numerous parking management service providers are developing and offering advanced technologies to facilitate the municipalities and private spaces to optimize unutilized and unorganized parking areas. Currently, the off-street parking accounted for more than two-fifths of the global parking management market in 2017, and the same is estimated to continue dominating the market in the developed countries as well as developing countries in the coming years. The off-street parking management is foreseen to witness upswing due to the changing consumer and behavior towards smart technologies in the developed countries and few developing countries worldwide.

Key Benefits-

• To track and analyze competitive developments, such as product launches, agreements, partnerships, collaborations, and acquisitions in the global Parking Management market.
• To forecast the size of the market segments with respect to four major regional segments, namely, North America, Europe, Asia Pacific, and the Rest of the World (Latin America and the Middle East & Africa).

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Major Factors about the Report:

• Global Parking Management Market Overview
• Economic Impact on Market
• Market Competition
• Global Parking Management Market Analysis by Application
• Industrial Chain, Sourcing Strategy and Downstream Buyers
• Marketing Strategy Analysis, Distributors/Traders
• Global Market Effect, Factors, Analysis
• Global Market Forecast

Global Parking Management Market - By Geography

North America
U.S.
Canada
Mexico

Europe
UK
Germany
France

Asia Pacific (APAC)
Japan
China
India

Middle East & Africa (MEA)
U.A.E
Saudi Arabia
South Africa

South and Central America (SCAM)
Brazil

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