Global Parking Management Market Surges With Optimal Space Utilization Demand: A Key Factor Shaping the Future of the Parking Management Market in 2025

Which drivers are expected to have the greatest impact on the over the parking management market's growth?
The escalating global need for effective use of parking spaces is propelling the expansion of the parking management market. In today's times, the rise in the number of vehicles is leading to ineffective management of parking spaces worldwide. For improved business outcomes and flawless operations, those managing parking spaces are progressively investing in sophisticated parking management solutions. For example, in August 2022, Parking Network, a stats company based in the Netherlands, stated that 50 to 70% of the land in big centers and non-residential areas is reserved for parking. This is in comparison to a global average of 35% in residential zones. In contrast, in the US, there are eight parking spots for each vehicle. Therefore, this surging need for the ideal use of parking slot is anticipated to catalyze the demand for the parking management market in the upcoming period.

Get Your Parking Management Market Report Here:
https://www.thebusinessresearchcompany.com/report/parking-management-global-market-report

What growth opportunities are expected to drive the parking management market's CAGR through 2034?
The size of the parking management market has seen robust growth in the past years, expanding from $3.78 billion in 2024 to an anticipated $4.09 billion in 2025, registering a compound annual growth rate (CAGR) of 8.1%. The historical growth is due to factors such as urbanization and population increase, government strategies aimed at building smart cities, rising worries about traffic issues, a surge in vehicle ownership, and initiatives towards environmental sustainability.

In the coming years, the parking management market is predicted to witness robust expansion. The market is set to escalate to a worth of $5.96 billion by 2029, with a compound annual growth rate (CAGR) of 9.9%. This surge in the forecast period is due to the introduction of autonomous vehicles, the application of data analytics, predictive parking solutions, and adherence to parking policies and regulations. The period also foresees major trends like the incorporation of intelligent technologies, development in payment methods, adoption of contactless payment systems, and emphasis on environmentally sustainable solutions.

Get Your Free Sample Now - Explore Exclusive Market Insights:
https://www.thebusinessresearchcompany.com/sample.aspx?id=6919&type=smp

What are the most significant trends transforming the parking management market today?
The leading firms in the parking management industry are employing a strategy of forming strategic partnerships. These partnerships enable companies to offer custom-branded applications to improve customer experience and simplify parking operations. Strategic collaborations enable businesses to capitalize on each other's strengths and resources to achieve shared success and advantages. For instance, in May 2024, the American parking solution firm Nationwide Parking Services collaborated with Get My Parking, an American software firm. Their partnership aims to create advanced solutions, including a custom-branded application, the NWPRK app. This app will improve parking experiences across the nation by offering a smooth process for finding, reserving, and paying for parking at various facilities. It augments user convenience with real-time availability and online payments. Furthermore, the app offers a contactless experience with the provision of text alerts for session termination, allowing users to extend their parking remotely through their mobile devices.

Which key market segments comprise the parking management market and drive its revenue growth?
The parking management market covered in this report is segmented -

1) By Solution: Access Control, Security & Surveillance, Revenue Management, Parking Reservation Management, Valet Parking Management, Other Solutions
2) By Parking Site: On Street, Off Street
3) By Application: Transport Transit, Commercial, Government

Subsegments:
1) By Access Control: Barrier Gates, RFID Solutions, License Plate Recognition Systems
2) By Security And Surveillance: CCTV Cameras, Video Analytics, Monitoring Systems
3) By Revenue Management: Pricing Optimization Tools, Payment Processing Systems, Reporting And Analytics
4) By Parking Reservation Management: Online Booking Systems, Mobile Apps For Reservations, Integration With Navigation Systems
5) By Valet Parking Management: Valet Tracking Systems, Fleet Management Solutions, Customer Management Tools
6) By Other Solutions: Parking Guidance Systems, Data Analytics Platforms, Maintenance Management Solutions

Unlock Exclusive Market Insights - Purchase Your Research Report Now!
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=6919

What regions are at the forefront of parking management market expansion?
North America was the largest region in the parking management market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the parking management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Who are the leading players fueling growth in the parking management market?
Major companies operating in the parking management market include Bosch Group, Siemens AG, IBM Corporation, SAP SE, Atos SE, DEPLOT, Xerox Corporation, Globe Group Indigo, Flowbird Group, SWARCO, Amano Corporation, SKIDATA, Precise Parklink, IPS Group, Inrix Inc., Q-Free ASA, Chetu, Passport Labs Inc., SpotHero, Nex Valet LLC, FlashParking Inc., Streetline, TIBA Parking, ParkMobile LLC, T2 Systems, Get My Parking, Bond Traffic Solutions, Cleverciti Systems, Robotic Parking Systems Inc., Infocomm Group LLC

Customize Your Report - Get Tailored Market Insights!
https://www.thebusinessresearchcompany.com/customise?id=6919&type=smp

What Is Covered In The Parking Management Global Market Report?

•Market Size Forecast: Examine the parking management market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the parking management market for a structured understanding.
•Key Players Overview: Analyze major players in the parking management market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the parking management market.
•Segment Contributions: Evaluate how different segments drive overall growth in the parking management market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the parking management market.
•Industry Challenges: Identify potential risks and obstacles affecting the parking management market.
•Competitive Landscape: Review strategic developments in the parking management market, including expansions, agreements, and new product launches.

Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.

Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: mailto:info@tbrc.info

Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.

This release was published on openPR.