Parking Management Market Latest Trends, Demand and Advancement 2018 to 2027

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.

The Parking Management Market report aims to provide a 360-degree view of the market in terms of cutting-edge technology, key developments, drivers, restraints and future trends with impact analysis of these trends on the market for short-term, mid-term and long-term during the forecast period. Further, the report also covers key players profiling with detailed SWOT analysis, financial facts and key developments of products/service from the past three years.

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Factors such as an increase in demand for effective and efficient parking solutions especially among densely populated cities and the growing number of the registered passenger vehicle is expected to be the significant market driving force in the coming years. Further, the increasing popularity of smart cities concepts and the subsequent adoption of technology-driven mobility and smart parking solution is also anticipated to fuel the demand for parking management solutions in the forecast period. Moreover, among developed countries, the increasing number of limited parking spaces both on-street and on-street especially among metro cities are witnessing a growing demand for more efficient parking spaces at major popular commercial hubs and optimizing the available parking space with different end-users.

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

The parking management industry is experiencing a significant rise in a number of companies including technology developers, integrators, and service providers among others. On the other hand, commercialization, industrialization, and residential sector are also booming in both developed as well as financially developing countries across the globe. This has led the property owners to lease out their parking spaces to different parking management companies with an objective to utilize the maximum section of the parking spaces. This practice is referred to as the managed services in the parking management market.

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The report segments the global parking management market as follows:

Global Parking Management Market - By Parking Site
On-street
Off-street

Global Parking Management Market - By Parking Solutions
Parking Guidance Systems
Parking Reservation Solutions
Parking Security & Surveillance
Others

Global Parking Management Market - By Service
Professional Service
Managed Service

Global Parking Management Market - By Deployment Mode
On-premise
Cloud

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This release was published on openPR.