Paid Parking Management market will reach at $ 18.4 billion by 2032- key players XEROX Corporation (U.S.), Siemens AG (Germany), Kapsch TrafficCom AG (Austria), AMANO Corporation (Japan), Cubic Corporation (U.S.), SWARCO AG (Austria), INRIX, Inc. (U.S.),

The global parking management market size was valued at USD 4.23 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 11.1% from 2022 to 2032. This market will reach at $ 18.4 billion by 2032 The rising number of vehicles across the world, growing demand for an effective traffic management solution, and rapid development of smart cities are contributing to the growth of the market. The COVID-19 pandemic compelled a decrease in growth activities as many countries imposed strict restrictions by announcing a complete lockdown. Additionally, the government of several nations invested heavily in their healthcare systems to help identify the signs of the virus and stop the spread, which included restriction measures such as no crowding of public transports stations and vehicles that hindered the growth of parking management for a short period. However, the ease in travel restrictions currently is expected to propel the market demand, as most of the places are opening with full occupancy which will push the demand for parking management

The research report aims to provide reliable and useful Paid Parking Management industry information and data on the national and international markets thereby helping the market leaders, investors, small businesses, and others gain market intelligence from around the world. The report provides the global Paid Parking Management market players the insights needed to make key decisions with regard to international markets like expansion and investments. The Paid Parking Management report anticipates future economic, business, and political factors and trends that may impact their performance at regional and international levels. The multinational businesses that are on top in the Paid Parking Management marketplace in the recent years and the topics related to the selected markets are covered in report.

The Global Paid Parking Management Market Size is Projected to Reach a CAGR of 39% during 2022-2029.

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Major Market Players Profiled in the Report include:

XEROX Corporation (U.S.), Siemens AG (Germany), Kapsch TrafficCom AG (Austria), AMANO Corporation (Japan), Cubic Corporation (U.S.), SWARCO AG (Austria), INRIX, Inc. (U.S.), INDIGO (France), T2 Systems, Inc. (U.S.), SKIDATA AG (Austria)

Parking Site Insights
The off-street parking site segment holds a market share of over 70% in 2021 due to the increased number of vehicles on the street, posing infrastructural challenges. Off-street parking plays a huge role in traffic management and is often preferred as it is a faster, easier, and more reliable solution. Additionally, this solution requires low installation and maintenance costs which are expected to fuel the segment growth. The off-street parking site has a defined architecture with defined sensors, communication protocols, and software. The rise in smart cities initiatives is also propelling the demand for off-street parking sites. Furthermore, the rise in digital payment techniques and smartphones penetration is supporting the growth of this segment.

Segments Covered in the Report
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global parking management market report based on solution, services, deployment, parking site, off-street parking site, application, and region

Solution Outlook (Revenue, USD Million, 2017 - 2030)

Access Control

Security & Surveillance

Revenue Management

Parking Reservation Management

Valet Parking Management

Others

Service Outlook (Revenue, USD Million, 2017 - 2030)

Consulting Services

System Integration and Deployment

Support and Maintenance

Deployment Type (Revenue, USD Million, 2017 - 2030)

On-premise

Cloud

Parking Site (Revenue, USD Million, 2017 - 2030)

On-Street

Off-Street

Off-Street Parking Site Outlook (Revenue, USD Million, 2017 - 2030)

Garage Parking

Lot Parking

Application Outlook (Revenue, USD Million, 2017 - 2030)

Transport Transit

Commercial

Government

Regional Outlook (Revenue, USD Million, 2017 - 2030)

North America

U.S.

Canada

Mexico

Europe

U.K.

Germany

Asia Pacific

China

India

Japan

South America

Brazil
Middle East & Africa

The on-street parking site segment is anticipated to show a significant growth of CAGR of 12.9% over the forecast period as it reduces the obstructive and chaotic parking on streets leading to more pleasant public spaces, and better conditions for walking and cycling, and better access to public transport stops and stations. Moreover, on-street parking sites reduce the on-street parking saturation and the urgency of parking supply investments. An efficient on-street parking site makes off-street parking facilities more financially viable, and it reduces the burden on common property resources, which will drive the growth of this segment. The off-street parking segment is further categorized into two sub-segments naming lot parking and garage parking. Both the parking lots and garage parking incorporates slot enforcement, self-serve checkouts, and monthly parking pass programs that make the whole parking scenario hassle-free and systematic.

Paid Parking Management Market Segmentation by Type:

Access Control, Security & Surveillance, Fee & Revenue Management, Enforcement & Permit Management.

Paid Parking Management Market Segmentation by Application:

Government, Schools & Hospitals, Entertainment and Recreation Facilities, Dedicated Car Parks, Others

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REGIONAL ANALYSIS

North America (US, Canada, Mexico)
Europe (Germany, France, UK, Russia, Italy)
Asia Pacific (China, Japan, South Korea, India, Southeast Asia)
South America (Brazil, Argentina, Colombia, etc.)
The Middle East and Africa (Saudi peninsula, UAE), Egypt, Nigeria, and South Korea)
Key Questions Answered through the Report

(1) How will the global Paid Parking Management market perform during the forecast period? What will be the market size in terms of value and volume?

(2) Which segment will drive the global Paid Parking Management market? Which regional market will show extensive growth in the future? What are the reasons?

(3) How will the Paid Parking Management market dynamics change because of the impact of future market opportunities, restraints, and drivers?

(4) What are the key strategies adopted by players to sustain themselves in the global Paid Parking Management market?

(5) How will these strategies influence the Paid Parking Management market growth and competition?

Key Insights That Study Is Going to Provide:

The 360-degree Paid Parking Management Market overview is based on a global and regional level
Market Share & Sales Revenue by Key Players & Emerging Regional Players
Competitors - In this section, various Paid Parking Management industry leading players are studied with respect to their company profile, product portfolio, capacity, price, cost, and revenue.
A separate chapter on Paid Parking Management Market Entropy to gain insights on Leader's aggressiveness towards market [Merger & Acquisition / Recent Investment and Key Developments]
Patent Analysis No of patents / Trademarks filed in recent years.
Table of Content:

Chapter 1: Introduction, market driving force product Objective of Study, and Research Scope Paid Parking Management Market

Chapter 2: Exclusive Summary - the basic information of the Paid Parking Management Market.

Chapter 3: Displaying the Market Dynamics- Drivers, Trends, and Challenges of Paid Parking Management

Chapter 4: Presenting Paid Parking Management Market Factor Analysis Porters Five Forces, Supply/Value Chain, PESTEL analysis, Market Entropy, Patent/Trademark Analysis.

Chapter 5: Displaying 2015-2020 by Type, End-User, and Region

Chapter 6: Evaluating the top manufacturers in the Paid Parking Management Market, including their Competitive Landscape, Peer Group Analysis, BCG Matrix, and Company Profile.

Chapter 7: To evaluate the market by segments, by countries, and by manufacturers with revenue share and sales by key countries in these various regions.

Chapter 8 & 9: Displaying the Appendix, Methodology, and Data Source

Conclusion: At the end of the Paid Parking Management Market report, all the findings and estimations are given. It also includes major drivers and opportunities along with regional analysis. The segment analysis is also provided in terms of type and application.

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Opportunity: Rising smart city initiative across the globe
The surge in emerging technologies has propelled major urban areas to transform them into smart cities. Smart cities integrate their housing, mobility, and economic functions by utilizing innovative information and communications technologies. The smart city initiatives adopted by governments across the world are expected to provide business opportunities for the providers of smart parking management solutions, which can be integrated with smart city solutions. Smart cities need flexible, scalable, easy-to-manage, and space-efficient parking systems, which can be addressed by intelligent parking management systems.

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