Parking Management Market to See Incredible Growth by 2021

Globally, the number of vehicles is increasing rapidly intensifying the problem related to the scarcity of parking space. Traffic congestion and other transportation related problems occur due to vehicle not finding space for parking. Thus, the necessity of efficient and smart parking system is increasing. Today’s advanced parking management systems are intelligent enough to provide high level of convenience to the drivers, automating and simplifying the business operations and other functions at the parking site.

To View Complete Report @ : http://www.persistencemarketresearch.com/market-research/parking-management-system-market.asp

Demand for smooth traffic flow is the major driving factor for the adoption of parking management systems across the big cities. Parking management system decrease hardware and connectivity costs and it also provides benefits in terms of revenue to the parking site owners. Thus, revenue generation and smoothing of the traffic flow are the factors driving the adoption of parking management systems. However, cost sensitivity of the parking space operators who manage the parking space on behalf of the parking space owner is the challenge for this industry. Parking management systems hold immense opportunity for the players in this market in regional economies and smart cities across the globe.

A sample of this report is available upon request @ http://www.persistencemarketresearch.com/samples/3732


Global parking management market is segment on the basis of components and service, solution, parking site, verticals and geography. On the basis of components and service the parking management market is segmented into parking software, parking services and parking devices. Parking software includes systems for parking payment and parking information and management. Parking services include some professional services such as maintenance and support and customizations and deployment. Entire parking management system include various devices and components such as parking meters, handheld ticket writers, radio frequency identification (RFID) transponders, automated gates, occupancy sensors, surveillance cameras and drivers and other devices. Parking management involves several services and solutions which are offered to the customers by management system. On the basis of solutions parking management market is segmented into access control solution, security and surveillance solution, parking fee and revenue management solution, Parking Reservation Management solution, Parking Enforcement and Permit Management solution, Valet Parking Management solution, Parking Guidance and Slot Management solutions. Pay-by-plate

To view TOC of this report is available upon request @ http://www.persistencemarketresearch.com/toc/3732

, coin based revenue management and smart card based revenue management are some of the techniques used in parking fee and revenue management solution. Whereas, biometrics, ID management and License Plate Recognition (LPR)-Based Automatic Vehicle Identification (AVI) are some techniques in access control for parking management. On street parking and off street parking are the two types of parking sites where parking management systems are installed and implemented. On the basis of verticals where parking management systems are implemented the parking management market is segmented into academia, municipalities and government sector, recreation sector, transportation sector, healthcare industry, hospitality industry, banking, financial services and insurance (BFSI) sector, commercial parks and corporate sector and other verticals.

About Us
Persistence Market Research (PMR) is a third-platform research firm. Our research model is a unique collaboration of data analytics and market research methodology to help businesses achieve optimal performance.
To support companies in overcoming complex business challenges, we follow a multi-disciplinary approach. At PMR, we unite various data streams from multi-dimensional sources. By deploying real-time data collection, big data, and customer experience analytics, we deliver business intelligence for organizations of all sizes.

Contact Us
Persistence Market Research
305 Broadway
7th Floor, New York City,
NY 10007, United States,
USA – Canada Toll Free: 800-961-0353
Email: sales@persistencemarketresearch.com
Web: http://www.persistencemarketresearch.com

This release was published on openPR.