Parking Systems Market And Top Key Players are TCS International Inc,Complus Data Innovations, Inc., Energy Development Corporation

The scarcity of parking spaces has become a worldwide problem mainly due to the increasing number of vehicles on the road. Parking concerns are increasing at an incredible speed. In the light of this, Parking Reservation Systems have emerged as the state of art parking solutions which provide real-time updates about the available parking spaces to the users. Apart from less traffic cramming, parking reservation system also reduces the wastage of fuel and provides extra security and manning for the vehicles.

Parking management systems have witnessed a substantial amount of change by introducing cashless payments, real-time parking space information, parking sensors etc. This has helped in the rapid growth of smart parking management solutions increasing their demands globally.

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End-user/Technology
Further, the demand for parking reservation system is expected to increase in transportation, due to traffic congestion and has now diversified to retail, government & municipalities sectors.

The mobile applications of parking reservation systems are growing at a faster rate. The parking slots can be reserved easily and effectively since it involves the use of GSM, GPS, and smartphone technologies through which. The increasing adoption of smartphones has enabled access to travel time, speed data, and origin-destination information.

Market Dynamics
The major growth drivers for this market include rising disposable income among consumers, along with increasing global population and rising need for smart city projects. The major challenge for this market is the proper parking technology execution with zero error and truck congestion.

Market Segmentation
Parking Reservation System Market by Device
Meters
Automated Gates
DVRs and Surveillance Cameras
Ultrasound Occupancy Sensors
Others

Parking Reservation System Market by Solution
Valet Parking Management Solution
Surveillance & Security
Revenue Management
Slot management
Access Control
Others

Parking Reservation System Market By Industry
Education
Government Bodies
Healthcare
Commercial Parks
Retail
Transportation
Others

Parking Reservation System Market By Software
Payment Software
Information System
Parking Reservation System Market By Service
Customization & Deployment Model
Support & Maintenance Services
Parking Reservation System Market By Geography
North America
Europe
The Asia Pacific
Middle East & Africa
Latin America

Regional/Geographic Analysis
Developed countries such as Germany and the U.S are heavily investing in the implementation of parking reservation system for heavy vehicles like trucks.The market for parking reservation system is expected to get a boost with the adoption of smart parking system in developed countries. India and China are expected to be a potential market for parking reservation system market in the future. However, a slower adoption rate of parking reservation system in developing countries is expected to pose a challenge for this market in coming years.Opportunities

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The increasing usage of mobile-based parking reservation apps by smartphone users offer a promising growth prospect for the technology vendors,cloud-based service providers, and system integrators. Thus, technological advancements have created ample growth opportunities in the field of parking reservation.

Key players in this market are:
TCS International Inc,
Complus Data Innovations, Inc.
Energy Development Corporation
Group Techna, Inc.
Siemens AG
Passport Parking
3M Company
Amano Corporation, LLC
Affiliated Computer Services
HCL Technologies Ltd.

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