The parking Management Solutions Market is expected to value US$ 786.2 Billion, recording a CAGR of 5.6% from 2022 to 2032
The market for parking management solutions is anticipated to reach US$ 404.7 billion in 2021. In 2022, it’s anticipated that the sale would reach US$ 440 billion. The report predicts that the global market for parking management solutions will reach US$ 768.2 billion in 2032, growing at a 5.6% CAGR between 2022 and 2032.
Increased need for parking management solutions, increases in traffic congestion, developments in machine-to-machine communication technology, and rising demand for fully automated parking systems (APS) will all contribute to the market’s expansion.
The parking management solutions market refers to the industry that provides technology and services to manage and optimize parking facilities. This market includes a wide range of solutions, such as parking guidance and reservation systems, payment and access control systems, security and surveillance systems, and analytics and reporting tools.
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The market is driven by various factors, including increasing urbanization, the growing number of vehicles on the road, and the need for efficient and effective parking management systems. The demand for parking management solutions is also driven by the increasing adoption of smart city initiatives, which aim to leverage technology to improve urban infrastructure and services.
The parking management solutions market is expected to grow in the coming years, driven by factors such as the increasing adoption of advanced technologies, such as the Internet of Things (IoT) and cloud computing, and the growing demand for real-time data analytics and reporting tools. The market is also expected to benefit from increasing government investments in smart city initiatives and the need for efficient and effective parking management solutions in various industries, such as airports, hospitals, and shopping malls.
What is the Contribution of Key Players to the Global Parking Management Solutions Market?
Key players of the global parking management solutions market include Parking BOXX, IPS Group, Inc., METRIC Group Ltd., Ventek International, CivicSmart, Inc. among others. Market players are leveraging strategic collaborative initiatives to increase their market share and increase their profitability.
Recent developments among key players are:
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Key Segments Covered in the Parking Management Solutions Market Report
By Technology:
By Installation Location:
By Region:
Table of Content
1. Preface
2. Assumptions and Research Methodology
3. Executive Summary : Parking Management Solution Market
4. Market Overview
4.1. Market Dynamics
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.2. Global Parking Management Solution Market Analysis and Forecasts, 2022 – 2032
4.2.1. Market Revenue Projections (US$ Bn)
4.2.2. Market Volume Projections (Mn Units)
4.3. Porter’s Five Force Analysis
4.4. Market Outlook
5. Global Parking Management Solution Market Analysis and Forecast, by Type
5.1. Introduction
5.2. Key Findings
5.3. Market Size (US$ Bn) and Volume (Mn Units) Forecast by Type, 2022 – 2032
5.3.1. Parking Meters
5.3.2. Parking Kiosks
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Mar 10, 2023
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