Parking Management Solutions Market 2027| Amano, Kapsch TrafficCom, Siemens, SKIDATA, Swarco, Q-Free, Inrix, Flashparking, Parkmobile, Tiba Parking, Urbiotica
The Global Parking Management Solutions Market is expected to grow at a CAGR of 10% during the forecasting period (2020-2027).
Get Free Sample Report of Parking Management Solutions Market & COVID-19 Impact Analysis @ https://decisionmarketreports.com/request-sample/1327726
Factors such as increased investments for smart cities globally and increasing need for optimum utilization of parking spaces will further result in double-digit growth in global parking management solutions market over the forecast period.
Parking management systems comprise traveler information systems, real-time vehicle counting, real-time parking guidance display, video surveillance, and easy payment options. Some advanced parking management systems allow users to reserve and pay for a parking space via telephone or the internet. Parking has become a major issue of concern in urban areas. With the continuous rise number of vehicles on the road, there are not enough parking spots available. Therefore, smart parking solutions are growing in popularity as it helps in reducing traffic congestion caused by cars searching for parking spots.
The report covers all the major trends and drivers playing a vital role in the growth of the global Parking Management Solutions Market. The global Parking Management Solutions Market has been segmented based on region, product, and type.
The global Parking Management Solutions Market growth is primarily driven by rising parking concerns and issues, especially in urban areas. In developing economies, domestic migration is driving the move from rural to urban living. Almost everyone wants to live in cities, which are not always properly planned and developed to accommodate the millions of new residents. Globalization has pushed these cities into newly realized economic hubs. For instance, nearly 31% of India's current population lives in urban areas. India's urban growth is largely concentrated in large cities with a population of 100,000 or more, the number of cities with a population exceeding 1 million has increased from 35 in 2001 to 53 in 2011, accounting for 43% of India's urban population, and is expected to be 87% by 2030. As per the International Energy Agency (IEA), by 2050, India will need an estimated 10,000 to 20,000 square kilometers of surface parking area, an area equal to 35 times the size of the city of Mumbai or just a little smaller than entire state of California.
Moreover, there has been a quick rise in the number of vehicles, which has intensified the issue related to the shortage of parking space. Therefore, the requirement of smart and efficient parking system is growing and will be the major factor driving the global parking management solutions market over the forecast period.
Market Segment Analysis
Based on the product, the global Parking Management Solutions Market can be classified into revenue management, security and surveillance, access control, reservation management, and others. In 2018, revenue management segment accounted for the majority share in the global market owing to its application in maximizing the profit by optimizing the space and business demand.
In 2018, Avinor partnered with IDeaS Revenue Solutions to optimize revenue growth for its 11 car parks and more than 20,000 parking spaces at Oslo Airport. This strategy will create a better experience for the growing number of travelers, and customers will receive more dynamic pricing on Avinor's pre-book solution, with prices regulated based on actual demand.
Based on type, the global Parking Management Solutions Market can be classified into off-street parking and on-street parking. In 2018, On-street parking solutions segment dominated the global market. The rapid adoption of on-street parking management by the government authorities across the world, allowing government authorities to legitimately generate revenues through public properties is further expected to drive the growth of the on-street parking solutions segment over the forecast period.
By geography, the global Parking Management Solutions Market is segmented into North America, Asia-Pacific (APAC), Europe, South America, and the Middle East and Africa (MEA). In 2018, North America accounted for the majority share in the market. In 2017, according to the INRIX, it was estimated that U.S. population spends approximate 17 hours in a year searching for parking spots, which is means an estimated US$ 345 per driver in wasted time, fuel, and emissions. These stats are the indicators of continued stress on the parking management to efficiently and effectively manage the parking spaces.
In addition, rapid infrastructural development in the region will play a pivotal role in the growth of the global Parking Management Solutions market. For instance, In Mexico, the government plans to open SEZ across the country to promote economic growth in the region, which will further increase the demand for Parking Management Solutions.
APAC is expected to post higher CAGR over the forecast period. The growth in the market is mainly due to rapid urbanization, highly flourishing residential and commercial building sectors, and growing middle-class population and spending power coupled with rising awareness for Parking Management Solutions, which leads to the increasing demand for technology in the region. For instance, in 2019, Beijing Capital International Airport tested China's first intelligent robotic parking system. The system includes 132 parking spaces and eight robots. It will be a relief for drivers with poor parking skills or who are struggling to quickly find a parking space.
Global Parking Management Solutions Market is moderately fragmented with the presence of global and regional players in the market. The market players in the Parking Management Solutions Market are focusing on expanding through strategic interventions, such as acquisitions, and collaborations in the Parking Management Solutions Market.
Some major players in the market are Amano, Kapsch TrafficCom, Siemens, SKIDATA, Swarco, Q-Free, Inrix, Flashparking, Parkmobile, Tiba Parking, Urbiotica, and among others.
In 2018, Conduent Incorporated announced it has entered into a binding agreement to sell its off-street parking business, including the Conduent Multipark System in France and the U.K., along with its U.S. airport parking business, to Andera Partners, an investment firm in France.
If You Want Additional Information Or Specific Requirement About Impact of COVID-19 on Parking Management Solutions Market @ https://decisionmarketreports.com/request-customization/1327726
Why Purchase the Report?
Identify new growth opportunities with In-depth insights for strategic business plans and design innovative strategies for sustainable growth.
Comprehensive details on factors that will drive or challenge the growth of market players.
Deep Sector-Specific Intelligence
Highlights of the competitive landscape
Equipment Suppliers/ Buyers
Service Providers/ Buyers
Industry Investors/Investment Bankers
Manufacturers and Industry association
Contact Us :
304, S Jones Blvd,
NV 89107, USA
US Toll Free +1-866-605-1052
Market Info 24/7,
About Us :
Decision Market Reports is a one-stop solution, covers market research studies of all the industries, companies and regions. DMR aims at providing quality research, and insights about every market to helps our clients in taking right decisions. Our repository consists of most trending industry reports, niche areas, and leading company profiles. A comprehensive collection of reports is updated daily to offer hassle-free access to our latest updated report databases.
This release was published on openPR.
Permanent link to this press release:
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Parking Management Solutions Market 2027| Amano, Kapsch TrafficCom, Siemens, SKIDATA, Swarco, Q-Free, Inrix, Flashparking, Parkmobile, Tiba Parking, Urbiotica here
News-ID: 2034509 • Views: 238
More Releases for India
Medical Tour India | Affordable Treatment In India
We at MedCredible look after the well being of the patients seeking treatment in India. Our support staff support is well trained in handling various situations arising due to cross border differences. All the patients can avail of high-quality treatment at an extremely affordable cost in a compassionate environment combined with ethical practices. With options of over 100 + Hospitals and Institutions, we at Medcredible ensure that we connect the
IVF India, Test Tube baby India
The aim of setting up KJIVF is to help infertile couples in achieving conception through modern diagnostic and treatment methods. KJIVF Centre has given the best results by blessing infertile couples of advanced age with children, these couples could never dream of becoming parents. Thousands of babies are conceived through in-vitro fertilization (IVF) each year; In-Vitro Fertilization (IVF) means fertilization outside the body. A baby developed from an egg that
Beach Holiday India- Best Beaches in India
The natural beauty, exotic locations and rich heritage has helped India to stand as the most visited and most popular tourist spot in the world. The status of “Incredible India”, is defined by an incredible range of nature’s blessings on the Indian subcontinent and this incredibility is doubled by one of the most fabulous tourism option available in the country that are the brilliant and majestic beaches in India.
ISO 27001 India, 27001 training India ISO
Coral eSecure is information Risk Management advisory with specific focus on Information Security (ISO 27001, ISO 17799, PCI, COBIT, HIPAA, GLBA, and DPA), Business Continuity (BS25999) and ITIL/ IT Service Management (ISO 20000). Coral is the FIRST Indian consulting organization which provides an Integrated Management System Consulting, Consisting of ISO 27001, ISO 20000 and BS25999 – ALL THREE IN ONE! Coral provides Consulting, Assurance audit and Training to address these
Interior Designers India, Designers and Architects India
Today, we have recognized ourselves as a booming beauty interior designing firm, offering services that include interior designing. We are a winning firm, which is based on the strong foundation of innovative and original ideas for interior, architectural and landscaping designing services. Synergy Corporate Interior Design Association has more corporate members. Who provide Products and services. We support Interior Designers India, Designers and Architects India. We are committed to the
Domain Registration India, Web Hosting India, Payment Gateway India
Indiainternet.in is a Quality Web Hosting Company India, provide all web related support and Web hosting services like linux web hosting, windows web hosting, web hosting packages, domain registration in india, Corporate email solution, business email hosting, payment gateway integration, SSL with supports like free php, cgi, asp, free msaccess, free cdonts, free webmail, web based control panel, unlimited ftp access, unlimited data transfer. During the domain registration process, you will