Parking Management Market Size, Share, Top Brands, Latest Trends, Industry Outlook & Report 2024-2032

IMARC Group's latest report, titled "Parking Management Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032", offers a comprehensive analysis of the industry, which comprises insights on the global parking management market outlook. The report also includes competitor and regional analysis, and contemporary advancements in the global market.

The global parking management market size reached US$ 4.7 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 9.7 Billion by 2032, exhibiting a growth rate (CAGR) of 8.1% during 2024-2032.

Parking Management Market Overview:

Parking Management refers to a suite of technologies and practices aimed at optimizing the usage of parking spaces in various environments, such as public areas, commercial buildings, and residential zones. The offerings in this market segment range from traditional solutions, such as ticketing systems and parking meters, to more advanced technologies, including smart parking systems that utilize sensors, cameras, and real-time data analytics.
These systems can be integrated with mobile applications, allowing users to find and reserve parking spaces conveniently. Core aspects of parking management involve space utilization, revenue management, and enhancing the user experience. The advantages of implementing advanced parking management systems are manifold: they help reduce traffic congestion, improve space utilization, enhance customer satisfaction, and significantly increase revenue streams for parking operators. Additionally, these systems often employ eco-friendly practices, reducing the carbon footprint associated with unnecessary driving in search of parking.

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Parking Management Market Trends:

The global parking management market is driven by the burgeoning growth of urban centers and the associated rise in vehicle ownership. As cities grapple with increasing traffic and limited parking availability, the demand for smart and efficient parking solutions is escalating. Government initiatives to modernize urban infrastructure are further supporting the market, as are partnerships between public and private sectors aimed at improving urban mobility. Additionally, technological advancements such as the integration of Artificial Intelligence and the Internet of Things (IoT) in parking systems are opening new avenues for innovation, making real-time monitoring and predictive analysis more accessible. Also, due the growing environmental concerns, there has been an increasing interest in eco-friendly parking solutions, such as electric vehicle charging stations within parking facilities.

Explore the Full Report with Charts, Table of Contents, and List of Figures: https://www.imarcgroup.com/parking-management-market

Competitive Landscape with Key Players:

• 3M Company
• Amano Corporation
• Cubic Corporation
• FlashParking Inc. (Arrive Mobility Inc.)
• Infocomm Group LLC
• International Business Machines Corporation
• Passport Labs Inc
• Q-Free ASA
• Robert Bosch GmbH
• SAP SE
• Siemens AG
• T2 Systems Inc. (Verra Mobility)

Key Market Segmentation:

Breakup by Offering Type:

• Solution
• Access Control
• Security and Surveillance
• Revenue Management
• Parking Reservation Management
• Valet Parking Management
• Others
• Service
• Consulting and Training
• System Integration and Deployment
• Support and Maintenance

Breakup by Parking Site:

• Off-street
• On-street

Breakup by Deployment Mode:

• On-premises
• Cloud-based

Breakup by Region:

• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key Highlights of the Report:

• Market Performance
• Market Outlook
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

This release was published on openPR.