Global Parking Management Market Size Study, by Offering, by Parking Site, by End Use and Regional Forecasts 2022-2032

Description

Global Parking Management Market is valued approximately at USD 5.3 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 7.4% over the forecast period 2024-2032. Parking management involves overseeing and controlling the use of parking spaces. This includes tasks like allocating spots, collecting fees, ensuring security, and optimizing space utilization. Effective parking management aims to reduce congestion, improve traffic flow, and enhance the overall parking experience for users. The market growth is primarily driven by the increasing rate of urbanization, global vehicle sales, and the proliferation of mobile and smartphone devices. Additionally, the growing demand for seamless traffic flow and the emergence of autonomous vehicles are fostering market expansion.

The rise in smart city initiatives globally further accelerates the demand for innovative parking management solutions. Governments and municipalities are adopting smart infrastructure as a solution to boost the standard of living, enhance public services, and ensure sustainable development. For instance, in 2023, Eleven-x, a Canadian IoT startup, was awarded a significant contract for a smart parking project in Arlington County, Virginia. However, system integration complexities and data security issues related to IoT devices pose significant challenges to the market. Integration of new technologies with existing infrastructure can lead to increased costs and longer implementation times, while data privacy concerns necessitate robust security measures.

The key regions considered for the global Parking Management Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is expected to dominate the market during the forecast period, owing to its advanced technological infrastructure and increased vehicle sales. The region is also witnessing several smart city and smart parking projects, further driving market growth. The Asia Pacific region is projected to grow at the highest CAGR due to rapid urbanization, rising disposable incomes, and increasing adoption of smart technologies.

Major market player included in this report are:

Amano Corporation
Group Indigo
SWARCO AG
SKIDATA AG
Chetu Inc.
IPS Group Inc.
TIBA Parking Systems
Siemens AG
Bosch Group
INRIX Inc.

The detailed segments and sub-segment of the market are explained below:

By Offering:

Solutions
Services

By Parking Site:

On-Street Parking
Off-Street Parking
Garage Parking
Lot Parking

By End Use:

Residential
Commercial
Industrial
Government/Public

By Region:

North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
RoLA
Middle East & Africa
Saudi Arabia
South Africa
RoMEA

Years considered for the study are as follows:

Historical year - 2022
Base year - 2023
Forecast period - 2024 to 2032

Key Takeaways:

Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and regional level analysis for each market segment.
Detailed analysis of geographical landscape with Country level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of competitive structure of the market.
Demand side and supply side analysis of the market.

Chapter 1. Global Parking Management Market Executive Summary

1.1. Global Parking Management Market Size & Forecast (2022-2032)
1.2. Regional Summary
1.3. Segmental Summary
- 1.3.1. By Offering
- 1.3.2. By Parking Site
- 1.3.3. By End Use
1.4. Key Trends
1.5. Recession Impact
1.6. Analyst Recommendation & Conclusion

Chapter 2. Global Parking Management Market Definition and Research Assumptions

2.1. Research Objective
2.2. Market Definition
2.3. Research Assumptions
- 2.3.1. Inclusion & Exclusion
- 2.3.2. Limitations
- 2.3.3. Supply Side Analysis
  - 2.3.3.1. Availability
  - 2.3.3.2. Infrastructure
  - 2.3.3.3. Regulatory Environment
  - 2.3.3.4. Market Competition
  - 2.3.3.5. Economic Viability (Consumer's Perspective)
- 2.3.4. Demand Side Analysis
  - 2.3.4.1. Regulatory Frameworks
  - 2.3.4.2. Technological Advancements
  - 2.3.4.3. Environmental Considerations
  - 2.3.4.4. Consumer Awareness & Acceptance
2.4. Estimation Methodology
2.5. Years Considered for the Study
2.6. Currency Conversion Rates

Chapter 3. Global Parking Management Market Dynamics

3.1. Market Drivers
- 3.1.1. Growing demand for seamless traffic flow and reduction in fuel consumption
- 3.1.2. Increasing urbanization and vehicle sales
- 3.1.3. Rising smart city initiatives
3.2. Market Challenges
- 3.2.1. System integration complexities
- 3.2.2. Data security and privacy issues
3.3. Market Opportunities
- 3.3.1. Development of autonomous vehicles
- 3.3.2. Technological advancements in parking solutions

Chapter 4. Global Parking Management Market Industry Analysis

4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.1.6. Futuristic Approach to Porter's 5 Force Model
- 4.1.7. Porter's 5 Force Impact Analysis
4.2. PESTEL Analysis
- 4.2.1. Political
- 4.2.2. Economical
- 4.2.3. Social
- 4.2.4. Technological
- 4.2.5. Environmental
- 4.2.6. Legal
4.3. Top Investment Opportunity
4.4. Top Winning Strategies
4.5. Disruptive Trends
4.6. Industry Expert Perspective
4.7. Analyst Recommendation & Conclusion

Chapter 5. Global Parking Management Market Size & Forecasts by Offering 2022-2032

5.1. Segment Dashboard
5.2. Global Parking Management Market: Offering Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 5.2.1. Solutions
- 5.2.2. Services

Chapter 6. Global Parking Management Market Size & Forecasts by Parking Site 2022-2032

6.1. Segment Dashboard
6.2. Global Parking Management Market: Parking Site Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 6.2.1. On-Street Parking
- 6.2.2. Off-Street Parking
- 6.2.3. Garage Parking
- 6.2.4. Lot Parking

Chapter 7. Global Parking Management Market Size & Forecasts by End Use 2022-2032

7.1. Segment Dashboard
7.2. Global Parking Management Market: End Use Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 7.2.1. Residential
- 7.2.2. Commercial
- 7.2.3. Industrial
- 7.2.4. Government/Public

Chapter 8. Global Parking Management Market Size & Forecasts by Region 2022-2032

8.1. North America Parking Management Market
- 8.1.1. U.S. Parking Management Market
  - 8.1.1.1. Offering breakdown size & forecasts, 2022-2032
  - 8.1.1.2. Parking Site breakdown size & forecasts, 2022-2032
  - 8.1.1.3. End Use breakdown size & forecasts, 2022-2032
- 8.1.2. Canada Parking Management Market
  - 8.1.2.1. Offering breakdown size & forecasts, 2022-2032
  - 8.1.2.2. Parking Site breakdown size & forecasts, 2022-2032
  - 8.1.2.3. End Use breakdown size & forecasts, 2022-2032
8.2. Europe Parking Management Market
- 8.2.1. UK Parking Management Market
- 8.2.2. Germany Parking Management Market
- 8.2.3. France Parking Management Market
- 8.2.4. Spain Parking Management Market
- 8.2.5. Italy Parking Management Market
- 8.2.6. Rest of Europe Parking Management Market
8.3. Asia-Pacific Parking Management Market
- 8.3.1. China Parking Management Market
- 8.3.2. India Parking Management Market
- 8.3.3. Japan Parking Management Market
- 8.3.4. Australia Parking Management Market
- 8.3.5. South Korea Parking Management Market
- 8.3.6. Rest of Asia Pacific Parking Management Market
8.4. Latin America Parking Management Market
- 8.4.1. Brazil Parking Management Market
- 8.4.2. Mexico Parking Management Market
- 8.4.3. Rest of Latin America Parking Management Market
8.5. Middle East & Africa Parking Management Market
- 8.5.1. Saudi Arabia Parking Management Market
- 8.5.2. South Africa Parking Management Market
- 8.5.3. Rest of Middle East & Africa Parking Management Market

Chapter 9. Competitive Intelligence

9.1. Key Company SWOT Analysis
9.2. Top Market Strategies
9.3. Company Profiles
- 9.3.1. Amano Corporation
  - 9.3.1.1. Key Information
  - 9.3.1.2. Overview
  - 9.3.1.3. Financial (Subject to Data Availability)
  - 9.3.1.4. Product Summary
  - 9.3.1.5. Market Strategies
- 9.3.2. Group Indigo
- 9.3.3. SWARCO AG
- 9.3.4. SKIDATA AG
- 9.3.5. Chetu Inc.
- 9.3.6. IPS Group Inc.
- 9.3.7. TIBA Parking Systems
- 9.3.8. Siemens AG
- 9.3.9. Bosch Group
- 9.3.10. INRIX Inc.

Chapter 10. Research Process

10.1. Research Process
- 10.1.1. Data Mining
- 10.1.2. Analysis
- 10.1.3. Market Estimation
- 10.1.4. Validation
- 10.1.5. Publishing
10.2. Research Attributes