openPR Logo
Press release

Parking Management Market Set to Reach USD 45.12 Billion by 2028: A Comprehensive Analysis

11-25-2024 03:37 PM CET | IT, New Media & Software

Press release from: The Insight Partners

/ PR Agency: The Insight Partners
Parking Management Market

Parking Management Market

According to our latest market study on "Parking Management Market - Global Analysis - by Parking site, Solution, Services, and Deployment Type," market is expected to grow from USD 32,221.73 million in 2021 to USD 45,125.82 million by 2028; it is estimated to grow at a CAGR of 4.9% during 2021-2028.

Get PDF Sample Copy at https://www.theinsightpartners.com/sample/TIPAT00002641/?utm_source=OpenPR&utm_medium=10196

Significant Rise in Number of Vehicles on Road to Drive Market Growth during Forecast Period
The global 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 Organization 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 million, and the rest 24 million 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 globe.

Majority of the cities globally 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.

In 2020, the world economy suffered significant consequences, and the effects are expected to endure to some extent. The outbreak has led to disruptions in primary industries including electronics, semiconductor, and automotive. A sharp decline in the growth of mentioned industries is limiting the Parking Management market growth. Factory shutdowns, travel and trade bans, and border lockdowns to combat and contain the infection have impacted the working of many commercial and corporate buildings across the world.

Buy Now at - https://www.theinsightpartners.com/buy/TIPAT00002641/?utm_source=OpenPR&utm_medium=10196

Key Findings of Study:
The global parking management market is segmented into five major regions-North America, Europe, APAC, MEA, and SAM. Based on parking site, the global parking management market is segmented into on-street parking and off-street parking. In 2020, the off-street parking segment led the parking management segment accounted for a larger share in the market. Based on solution, the parking management market is segmented into parking guidance solutions, parking reservation solutions, parking security & surveillance solutions and others.

In 2020, the others segment led the parking management segment accounted for a larger share in the market. Based on services, the parking management market is segmented into managed services and professional services. In 2020, the managed services segment led the parking management segment accounted for a larger share in the market. Based on Deployment, the parking management market is segmented into cloud, and on-premise. In 2020, the on-premise segment led the parking management segment accounted for a larger share in the market.

Browse More About This Research Report at: https://www.theinsightpartners.com/reports/parking-management-market

Contact Us:
If you have any queries about this report or if you would like further information, please contact us:
Contact Person: Ankit Mathur
E-mail: sales@theinsightpartners.com
Phone: +1-646-491-9876

About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

This release was published on openPR.

Permanent link to this press release:

Copy
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 Market Set to Reach USD 45.12 Billion by 2028: A Comprehensive Analysis here

News-ID: 3754818 • Views:

More Releases from The Insight Partners

Confectionery coatings - A Complete PDF Guide
Confectionery coatings - A Complete PDF Guide
Confectionery coating is also known as a compound coating, candy wafers, and melting wafers. The wafers are made with trans-fat-free, so they do not require tempering. Confectionery coatings perform many functions in confectionery products such as flavoring agent, glazing agent, color enhancer, and fortifying agent. Get Sample Copy of Report at: https://www.theinsightpartners.com/sample/TIPRE00012692/?utm_source=OpenPR&utm_medium=10188 Top Key Players : · Blommer Chocolate Company ·
Quantum Cryptography - Top Companies Regional and Data Analysis to 2031
Quantum Cryptography - Top Companies Regional and Data Analysis to 2031
Quantum Cryptography is a method of securing communication by using the principles of quantum mechanics. It relies on quantum particles, such as photons, to transmit data securely. The most well-known application is Quantum Key Distribution (QKD), which allows two parties to share a secret key that cannot be intercepted without detection. Its security is based on the laws of physics rather than mathematical complexity. Any attempt to eavesdrop disturbs the
Rising Hygiene Standards Propel Medical Scrub Market Growth at a 6.3% CAGR
Rising Hygiene Standards Propel Medical Scrub Market Growth at a 6.3% CAGR
New York, US - October 24, 2025 - The Medical Scrub Market is undergoing a transformative phase, shaped by the increasing focus on healthcare hygiene, professional aesthetics, and sustainable apparel solutions. With hospitals, clinics, and healthcare institutions prioritizing infection control and comfort, medical scrubs have evolved from simple uniforms into advanced garments that blend technology, protection, and style. According to recent insights, the market is projected to grow at a CAGR
Beauty Devices Market: Demand Analysis, Key Players, Trends, Sales, Supply, Deployment Model Revenue Data & Forecast to 2031
Beauty Devices Market: Demand Analysis, Key Players, Trends, Sales, Supply, Depl …
Global Beauty Devices Market Research Report initially provides a basic overview of the industry that covers definition, applications and manufacturing technology, post which the report explores into the international players in the market. Download Sample PDF @ https://www.theinsightpartners.com/sample/TIPRE00008260?utm_source=OpenPR&utm_medium=10881 Key Players Analysis: NuFACE The Procter & Gamble Co. Koninklijke Philips NV Panasonic Holdings Corp. Tria Beauty Foreo Ya-Man LTD ZIIP Silk?n, MTG Co., Ltd The report covers key developments in the Beauty Devices Market as organic and inorganic growth strategies. Various companies are focusing

All 5 Releases


More Releases for Parking

Connected Parking Solutions Market Forecast 2023-2030 | ShinMaywa, IHI Parking S …
The Connected Parking Solutions market is expected to grow at a CAGR of 15.6% from 2023 to 2030. The Connected Parking Solutions market is experiencing rapid growth, driven by the need for efficient and intelligent parking management in urban areas. This market encompasses a variety of technologies and services that aim to improve parking accessibility, reduce congestion, and enhance the overall parking experience for both consumers and operators. Connected parking solutions
Automated Parking Systems Market Is Booming Worldwide: Key Players ShinMaywa, IH …
Market Study Report presents latest report on global Automated Parking Systems Market, which evaluates the growth trends of the industry through historical study and estimates future prospects based on comprehensive research. The report extensively provides the market share, growth, trends and forecasts for the period 2022-2028. Global Automated Parking Systems Market Size was estimated at USD 2415 million in 2021 and is projected to reach USD 3221 million by 2028, exhibiting
Automated Parking Systems Market Statistics and Comprehensive Insights Outlook 2 …
Latest Study on Industrial Growth of Automated Parking Systems Market 2022-2028. A detailed study accumulated to offer Latest insights about acute structures of the Automated Parking Systems market. The report contains different market predictions related to revenue size, production, CAGR, gross margin, price, and other important factors. While highlighting the key driving and restraining forces for this market, the report also offers a broad study of the future trends and
Automated Parking Systems Market 2022 Insights with Statistics and Growth Predic …
The Automated Parking Systems market outlook looks extremely promising is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand and supply data (as applicable). The research analysts provide an elaborate description of the value chain, future roadmaps and its distributor analysis. The report provides pre COVID-19 historic data, the impact of the COVID-19, and also forecasts its recovery
Automated Parking Systems Market (2021): Huge Study, SWOT Analysis, Forecast to …
The report titled “Global Automated Parking Systems MARKET “is one of the most comprehensive and important additions to market research studies. It offers detailed research and analysis of key aspects of the Automated Parking Systems market. The market analysts authoring this report have provided in-depth information on leading growth drivers, restraints, challenges, trends, and opportunities to offer a complete analysis of the Automated Parking Systems market. Market Participants can use
What are the Growth Drivers of Automated Parking System Market? Kyline Parking A …
Market Study Report LLC recently added a new title on 2020-2026 Global Automated Parking System Market Report from its database. The report provides study with in-depth overview, describing about the Product, market size, share, Industry Scope and elaborates market outlook and status to 2026. The Automated Parking system market is on the surging trend considering the global scenario. The Automated Parking system market is primarily driven owing to surging number of