Asia-Pacific Parking Management Market Advancements with 6.8% of CAGR by 2028 – Amano Corporation., Flowbird Group, GROUP Indigo, Robert Bosch GmbH, Siemens AG

The parking management market in APAC is expected to grow from US$ 7,381.12 million in 2021 to US$ 11,683.08 million by 2028; it is estimated to grow at a CAGR of 6.8% from 2021 to 2028.

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According to The Business Market Insights Asia-Pacific Parking Management Market report 2028, discusses various factors driving or restraining the market, which will help the future market to grow with promising CAGR. The Asia-Pacific Parking Management Market Research Reports offers an extensive collection of reports on different markets covering crucial details. The report studies the competitive environment of the Asia-Pacific Parking Management Market is based on company profiles and their efforts on increasing product value and production.

The final report will add the analysis of the Impact of Covid-19 in this report Asia-Pacific Parking Management Market.

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Some of the companies competing in the Asia-Pacific Parking Management Market are Amano Corporation., Flowbird Group, GROUP Indigo, Robert Bosch GmbH, Siemens AG

The automotive industry is experiencing huge demand for vehicles, which is expected to further increase exponentially year on year. The number of vehicles from every class is constantly rising in developed regions and developing regions. According to Organisation Internationale des Constructeurs d’Automobiles (OICA), a total number of vehicles sold in 2020 accounted for almost 77 Mn, as compared to 90 Mn in 2019, this drop in number of vehicles sold is due to COVID-19 impact. Out of 77 Mn vehicles sold, the passenger car segment accounted for 53 Mn, and the rest 24 Mn recorded for commercial vehicles. Though we experience moving traffic, however, it has been proven statistically that vehicles spend most of their lives parked. Hence, there is a huge requirement for an efficient and effective parking infrastructure in the era of the aggressive rise in the number of vehicles across the region. Majority of the cities are facing a severe problem with traffic congestion, and the same is reaching towards an alarming issue shortly. The car parking issue is a key contributor and is still a significant problem with growing vehicle size in the luxurious, semi-luxurious, and commercial vehicle segment and confined parking spaces in urban cities. In addition, limited availability of information related to vacant parking spaces, especially on-street, results in a waste of fuel and time, leading to traffic congestion. Parking management systems and technology plays a vital role in the parking of vehicles on-street and off-street. The increasing procurement of vehicles among the consumers is forcing the governments as well as private organizations to focus more on developing advanced technology parking solutions such as parking guidance solutions, and parking reservation solutions among others to implement on the road as well as building parking areas. This factor is driving the parking management market heavily in the current market scenario, and the same is foreseen to influence the growth of the market in the future.

APAC Parking Management Market Segmentation

APAC Parking Management Market -By Parking Site

On-street Off-street
APAC Parking Management Market -By Solution

Parking Guidance Parking Reservation Parking Security & Surveillance Others
APAC Parking Management Market -By Services

Managed Service Professional Service
APAC Parking Management Market -By Deployment Type

On-premises Cloud
Adapting to the recent novel COVID-19 pandemic, the impact of the COVID-19 pandemic on the regional Asia-Pacific Parking Management Market is included in the present report. The influence of the novel coronavirus pandemic on the growth of the Asia-Pacific Parking Management Market is analyzed and depicted in the report.

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The scope of the Report:

The report segments the regional Asia-Pacific Parking Management Market based on application, type, service, technology, and region. Each chapter under this segmentation allows readers to grasp the nitty-gritty of the market. A magnified look at the segment-based analysis is aimed at giving the readers a closer look at the opportunities and threats in the market. It also addresses political scenarios that are expected to impact the market in both small and big ways. The report on the regional Asia-Pacific Parking Management Market examines changing regulatory scenarios to make accurate projections about potential investments. It also evaluates the risk for new entrants and the intensity of the competitive rivalry.

Reasons for buy this Report

Highlights key business priorities to assist companies to realign their business strategies. The key findings and recommendations highlight crucial progressive industry trends in the Asia-Pacific Parking Management market, thereby allowing players to develop effective long term strategies. Develop/modify business expansion plans by using substantial growth offering developed and emerging markets. Scrutinize in-depth regional market trends and outlook coupled with the factors driving the market, as well as those hindering it.

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