Parking Lots and Garages Market Size, Segments And Growth Forecast Report 2024 To 2033

The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Parking Lots and Garages Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $119.91 billion In 2028 At A CAGR Of 4.0% :

The parking lots and garages market size has grown steadily in recent years. It will grow from $98.45 billion in 2023 to $102.35 billion in 2024 at a compound annual growth rate (CAGR) of 4.0%. The growth in the historic period can be attributed to lack of sufficient parking due to rising motor vehicles, rapid urbanization, growth in world population and strong economic growth in emerging markets.

The parking lots and garages market size is expected to see steady growth in the next few years. It will grow to $119.91 billion in 2028 at a compound annual growth rate (CAGR) of 4.0%. The growth in the forecast period can be attributed to rising number of vehicles across the world and increasing investment in the parking lot and garages company. Major trends in the forecast period include mergers and acquisitions, partnerships and collaborations and focus on wireless smart parking sensors.

Request A Sample Of This Report - https://www.thebusinessresearchcompany.com/sample.aspx?id=3487&type=smp

Parking Lots and Garages Market Major Segments
The parking lots and garages market covered in this report is segmented -

1) By Type: Airport & Rail, Hospitals, Hotel And Restaurants, Shopping Centers, Privately Owned, Others
2) By Site: On Street, Off Street
3) By Technology: Smart Parking Using IOT, Automation, Unautomated

Key Driver - Parking Predicament Driving Forces Behind The Expansion Of Global Parking Lots And Garages Market

The lack of sufficient parking due to rising motor vehicles use in developing economies is expected to drive the global parking lots and garages market. Market liberalization has caused a severe increase in transport, one of the important economic sectors, and its operational efficiency, which in turn has led to increased stagnant traffic in cities. For instance, in India, the average volume of traffic related to parking during peak times can reach 30%-50% of total traffic according to a research study published by the Journal of Traffic and Transportation Engineering. Commuters in Indian cities spend over 80 hours a year looking for parking spaces due to the lack of parking spaces in Indian cities amid a growing population of vehicles. The imbalance between parking supply and parking demand due to the increasing use of vehicles in developing economies is driving the growth of the parking lots and garages market.

Customise This Report As Per Your Requirements - https://www.thebusinessresearchcompany.com/Customise?id=3487&type=smp

Prominent Trend - Smart Solutions For Parking Woes The Rise Of Wireless Parking Sensors In Global Markets

The wireless smart parking sensor for detecting parking space occupancy is an emerging trend in the global parking lots and garages market. The Parking Lot Sensor (PLS) senses and records the occupancy of parking spaces, allowing active parking lots management functionality such as search, navigation, and reservation. The sensors help in the effective management of parking spaces in cities. For instance, BOSCH recently launched a parking lot sensor that utilizes the LoRaWAN protocol for wireless communication. This sensor helps in guided and regulated parking, which removes traffic limitations.

Parking Lots and Garages Market Players
Major companies operating in the parking lots and garages market report are Impark Parking Corporation, LAZ Parking Ltd. LLC, Park24, Lanier Parking, Abm Industries Inc., Indigo Group SAS, Ace Parking Management Inc., Tokyo Tatemono, Sp Plus Corporation, NIPPON PARKING DEVELOPMENT Co.,Ltd., Yi Po International , Wilson Parking, Diamond Parking, TPS Parking , Sika Group , Park'N Fly, Spot Hero, The Toronto Parking Authority (TPA), EL GARAGE BELGRANO S.A, ALSE PARKING S.A, PARKING SAN TELMO S.A., Rose Concrete, Highway Department Garage, Osage Township Garage , COPEMSA, Mawarid Company, Earadat Transport, Makani Parking, Saudi Premier Parking, HUB Parking Technology South Africa, Ortym Agencies, Kenya Airport Parking Service, Junction Mall Parking Hall

View The Full Report Here - https://www.thebusinessresearchcompany.com/report/parking-lots-and-garages-global-market-report

Largest And Fastest Growing Region In The Market
North America was the largest region in the parking lots and garages market in 2023. Asia-Pacific was the second largest region in the global parking lots and garages market share. The regions covered in the parking lots and garages market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Parking Lots and Garages Market Report Structure
3. Parking Lots and Garages Market Trends And Strategies
4. Parking Lots and Garages Market - Macro Economic Scenario
5. Parking Lots and Garages Market Size And Growth
…..
27. Parking Lots and Garages Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info

Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model

Want To Know More About The Business Research Company?

The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialise in various industries including manufacturing, healthcare, financial services, chemicals, and technology.

Global Market Model - World's Most Comprehensive Database

The Business Research Company's flagship product, Global Market Model (www.thebusinessresearchcompany.com/global-market-model) is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps

This release was published on openPR.