Global Parking Management Market is Expected to Reach $6.17 Billion by 2022

According to Stratistics MRC, the Global Parking Management market is accounted for $2.78 billion in 2015 and is expected to reach $6.17 billion by 2022 growing at a CAGR of 12.0%. Rapid increase in production of vehicles had created concern regarding parking, moreover, in addition to that concern for security, connectivity and safety. Overcrowding of vehicles leading to air & noise pollution and advancement in real-time information regarding parking are the factors energizing the market. However, integration of parking system in society and cost sensitiveness depending on the parking site are the factors restraining the market.

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Corporate and Commercial Parks segment among verticals is accounted for major share in market attributing to demand for efficient parking facilities in order to develop safe and clean facilities across cities. Parking Fee and Revenue Management segment is expected to be the dominant solution in market owing to its application in maximizing the profit by optimizing the space and business demand.

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North American market is accounted for the largest market share on account of rise in number of vehicles in American market. Moreover, Asia-Pacific market is expected to gain traction due to rising municipalities in developing economies.

Some of the key players of the Parking Management market include 3M Company, Amano Corporation, Cubic Corporation, IBM Corporation, Indigo, Inrix, Inc., Kapsch TrafficCom, Siemens AG, Skidata AG, Swarco Corporation, T2 Systems and Xerox Corporation.

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Verticals Covered:
Academia
Banking, Financial Services, and Insurance
Corporate and Commercial Parks
Government and Municipalities
Healthcare
Hospitality
Recreation
Retail
Transportation
Other Verticals
Residential
Tourist Spots
Religious Spots

Parking site types Covered:
Off-Street Parking
On-Street Parking

Software & Services Covered:
Professional Services
Maintenance and Support
Deployment and Customization
Software
Parking Payment Systems
Parking Information Systems

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Solutions Covered:
Access Control
Biometrics
ID Management
License Plate Recognition-Based Automatic Vehicle Identification
Parking Fee Enforcement and Permit Management
Parking Reservation Management
Parking Fee and Revenue Management
Coin-Based Revenue Management
Pay-By-Plate Revenue Management
Smart Card-Based Revenue Management
Parking Guidance and Slot Management
Security and Surveillance
Valet Parking Management

Regions Covered:
North America
US
Canada
Mexico
Europe
Germany
France
Italy
UK
Spain
Rest of Europe
Asia Pacific
Japan
China
India
Australia
New Zealand
Rest of Asia Pacific
Rest of the World
Middle East
Brazil
Argentina
South Africa
Egypt

What our report offers:
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