Real Time Parking System Global Market Report 2024

Description

Real-time parking systems represent advanced technological solutions aimed at aiding drivers in efficiently locating, reserving, and managing parking spaces. These systems leverage a combination of sensors, cameras, and connectivity technologies to deliver up-to-date information on parking availability. This real-time data helps drivers find vacant spots easily, thereby improving overall parking management.

The real-time parking system market comprises three main types, software, hardware, and services. Software includes programs and applications essential for operating and managing parking systems, such as booking platforms, data analytics software, and mobile apps that offer real-time updates and user interactions. These systems can be deployed in various locations, including on-street, off-street, and other settings, catering to commercial, personal, transportation, aviation, governmental, and other sectors.

The real time parking system market research report is one of a series of new reports from The Business Research Company that provides real time parking system market statistics, including the real time parking system industry global market size, regional shares, competitors with real time parking system market share, detailed real time parking system market segments, market trends, and opportunities, and any further data you may need to thrive in the real time parking system industry. These real time parking system market research reports deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The real time parking system market size has grown rapidly in recent years. It will grow from $6.61 billion in 2023 to $7.84 billion in 2024 at a compound annual growth rate (CAGR) of 18.5%. Historical growth can be attributed to several factors, including urbanization, increased vehicle ownership, expansion of smart city initiatives, growing demand for efficient traffic management, government regulations favoring smart parking solutions, rising demand for convenient parking solutions, and the need for optimized parking space utilization.

The real time parking system market size is expected to see rapid growth in the next few years. It will grow to $15.51 billion in 2028 at a compound annual growth rate (CAGR) of 18.6%. Forecasted growth is expected due to rising urbanization, widespread adoption of smart city initiatives, escalating traffic congestion, heightened demand for enhanced user experiences via mobile apps, stringent regulatory requirements for efficient parking management, and increased investments in smart infrastructure projects. Key trends anticipated in the forecast period include the adoption of smart city initiatives, integration of Internet of Things (IoT) and Artificial Intelligence (AI) technologies, advancements in autonomous vehicles, implementation of smart parking solutions, adoption of mobile app-based reservation systems, and utilization of sensor technologies to optimize space usage efficiently.

The real-time parking system market is poised for growth, driven by the increasing popularity of electric vehicles and the need for charging infrastructure. Electric vehicles (EVs), powered by electricity stored in batteries, are gaining traction due to technological advancements, environmental consciousness, government incentives, cost-effectiveness, and changing consumer preferences towards sustainable transport. Real-time parking systems benefit EV owners by offering accurate information on available charging stations, reducing search time and downtime. For example, according to the US Department of Energy, sales of EVs and plug-in hybrid electric vehicles (PHEVs) nearly doubled from 308,000 units in 2020 to 608,000 units in 2021, with EV sales alone growing by 85%. This trend underscores the market's growth potential driven by the demand for charging infrastructure.

Leading companies in the real-time parking system market are focusing on technological advancements, particularly in artificial intelligence (AI), to enhance parking management efficiency and user experience. AI-based systems utilize sensors and cameras to monitor parking availability in real-time, predict open spots, and guide drivers to them efficiently. For instance, Park360, an India-based IT services company, introduced an AI-based vehicle authorization system in September 2023. This system uses IP-based cameras to detect vehicles and license plates, facilitating seamless entry and exit from premises without manual intervention.

In June 2021, FlashParking Inc., a US-based parking technology solutions provider, acquired Parkonect LLC to enhance digital transformation strategies for real estate owners. Parkonect LLC specializes in cloud-based and hardware solutions for parking operators, aligning with the industry's shift towards advanced mobility solutions.

Major companies operating in the real time parking system market are Siemens AG, Cisco Systems Inc., Thales Group, TKH Group NV, Cubic Corporation, SWARCO AG, Amano Corporation, Flowbird Group, FlashParking Inc., INRIX Inc., T2 Systems Inc., Designa, Parkmobile LLC, IPS Group Inc., Klaus Multiparking Systems Pvt Ltd, Altiux Innovations Pvt. Ltd., Smart Parking Limited, Streetline Inc., IEM SA, ParkWhiz API, Came Parkare, Parknav, Robotic Parking Systems Inc., AppyWay, AJ Dongyang Menics Co. LTD.

North America was the largest region in the real time parking system market in 2023. The regions covered in the real time parking system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the real time parking system market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The real-time parking system market consists of revenues earned by entities by providing services such as reservation and booking of parking services, payment processing for parking, and navigation. The market value includes the value of related goods sold by the service provider or included within the service offering. The real-time parking system market also includes sales of ultrasonic sensors, infrared sensors, CCTV cameras, license plate recognition cameras, smart meters, payment kiosks, gateways, and routers and switches. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Real Time Parking System Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on real time parking system market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
Measure the impact of high global inflation on market growth.
Create regional and country strategies on the basis of local data and analysis.
Identify growth segments for investment.
Outperform competitors using forecast data and the drivers and trends shaping the market.
Understand customers based on the latest market shares.
Benchmark performance against key competitors.
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Report will be updated with the latest data and delivered to you within 3-5 working days of order along with an Excel data sheet for easy data extraction and analysis.
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Where is the largest and fastest growing market for real time parking system ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The real time parking system market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

The market characteristics section of the report defines and explains the market.
The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of COVID-19 on supply chains and consumption patterns.

Market segmentations break down the market into sub markets.
The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:1) By Type: Software; Hardware; Services
2) By Location: On-Street; Off-Street; Other Locations
3) By Application: Commercial; Personal; Transport And Aviation; Government; Other Applications
Companies Mentioned: Siemens AG; Cisco Systems Inc.; Thales Group; TKH Group NV; Cubic Corporation
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.

Product Code: r19216

1. Executive Summary

2. Real Time Parking System Market Characteristics

3. Real Time Parking System Market Trends And Strategies

4. Real Time Parking System Market - Macro Economic Scenario

4.1. Impact Of High Inflation On The Market
4.2. Ukraine-Russia War Impact On The Market
4.3. COVID-19 Impact On The Market

5. Global Real Time Parking System Market Size and Growth

5.1. Global Real Time Parking System Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global Real Time Parking System Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Real Time Parking System Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Real Time Parking System Market Segmentation

6.1. Global Real Time Parking System Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Software
Hardware
Services
6.2. Global Real Time Parking System Market, Segmentation By Location, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
On-Street
Off-Street
Other Locations
6.3. Global Real Time Parking System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Commercial
Personal
Transport And Aviation
Government
Other Applications

7. Real Time Parking System Market Regional And Country Analysis

7.1. Global Real Time Parking System Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Real Time Parking System Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Real Time Parking System Market

8.1. Asia-Pacific Real Time Parking System Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Real Time Parking System Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Real Time Parking System Market, Segmentation By Location, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.4. Asia-Pacific Real Time Parking System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Real Time Parking System Market

9.1. China Real Time Parking System Market Overview
9.2. China Real Time Parking System Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Real Time Parking System Market, Segmentation By Location, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.4. China Real Time Parking System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Real Time Parking System Market

10.1. India Real Time Parking System Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Real Time Parking System Market, Segmentation By Location, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Real Time Parking System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Real Time Parking System Market

11.1. Japan Real Time Parking System Market Overview
11.2. Japan Real Time Parking System Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Real Time Parking System Market, Segmentation By Location, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.4. Japan Real Time Parking System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Real Time Parking System Market

12.1. Australia Real Time Parking System Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Real Time Parking System Market, Segmentation By Location, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Real Time Parking System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Real Time Parking System Market

13.1. Indonesia Real Time Parking System Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Real Time Parking System Market, Segmentation By Location, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Real Time Parking System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Real Time Parking System Market

14.1. South Korea Real Time Parking System Market Overview
14.2. South Korea Real Time Parking System Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Real Time Parking System Market, Segmentation By Location, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.4. South Korea Real Time Parking System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Real Time Parking System Market

15.1. Western Europe Real Time Parking System Market Overview
15.2. Western Europe Real Time Parking System Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Real Time Parking System Market, Segmentation By Location, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. Western Europe Real Time Parking System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Real Time Parking System Market

16.1. UK Real Time Parking System Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Real Time Parking System Market, Segmentation By Location, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Real Time Parking System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Real Time Parking System Market

17.1. Germany Real Time Parking System Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Real Time Parking System Market, Segmentation By Location, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Real Time Parking System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Real Time Parking System Market

18.1. France Real Time Parking System Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.2. France Real Time Parking System Market, Segmentation By Location, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.3. France Real Time Parking System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Real Time Parking System Market

19.1. Italy Real Time Parking System Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.2. Italy Real Time Parking System Market, Segmentation By Location, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.3. Italy Real Time Parking System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Real Time Parking System Market

20.1. Spain Real Time Parking System Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.2. Spain Real Time Parking System Market, Segmentation By Location, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.3. Spain Real Time Parking System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Real Time Parking System Market

21.1. Eastern Europe Real Time Parking System Market Overview
21.2. Eastern Europe Real Time Parking System Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Real Time Parking System Market, Segmentation By Location, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.4. Eastern Europe Real Time Parking System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Real Time Parking System Market

22.1. Russia Real Time Parking System Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Real Time Parking System Market, Segmentation By Location, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Real Time Parking System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Real Time Parking System Market

23.1. North America Real Time Parking System Market Overview
23.2. North America Real Time Parking System Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Real Time Parking System Market, Segmentation By Location, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.4. North America Real Time Parking System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Real Time Parking System Market

24.1. USA Real Time Parking System Market Overview
24.2. USA Real Time Parking System Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Real Time Parking System Market, Segmentation By Location, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. USA Real Time Parking System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Real Time Parking System Market

25.1. Canada Real Time Parking System Market Overview
25.2. Canada Real Time Parking System Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Real Time Parking System Market, Segmentation By Location, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.4. Canada Real Time Parking System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Real Time Parking System Market

26.1. South America Real Time Parking System Market Overview
26.2. South America Real Time Parking System Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Real Time Parking System Market, Segmentation By Location, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.4. South America Real Time Parking System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Real Time Parking System Market

27.1. Brazil Real Time Parking System Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Real Time Parking System Market, Segmentation By Location, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Real Time Parking System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Real Time Parking System Market

28.1. Middle East Real Time Parking System Market Overview
28.2. Middle East Real Time Parking System Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Real Time Parking System Market, Segmentation By Location, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.4. Middle East Real Time Parking System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Real Time Parking System Market

29.1. Africa Real Time Parking System Market Overview
29.2. Africa Real Time Parking System Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Real Time Parking System Market, Segmentation By Location, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.4. Africa Real Time Parking System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Real Time Parking System Market Competitive Landscape And Company Profiles

30.1. Real Time Parking System Market Competitive Landscape
30.2. Real Time Parking System Market Company Profiles
- 30.2.1. Siemens AG
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1.4. Financial Performance
- 30.2.2. Cisco Systems Inc.
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2.4. Financial Performance
- 30.2.3. Thales Group
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3.4. Financial Performance
- 30.2.4. TKH Group NV
  - 30.2.4.1. Overview
  - 30.2.4.2. Products and Services
  - 30.2.4.3. Strategy
  - 30.2.4.4. Financial Performance
- 30.2.5. Cubic Corporation
  - 30.2.5.1. Overview
  - 30.2.5.2. Products and Services
  - 30.2.5.3. Strategy
  - 30.2.5.4. Financial Performance

31. Real Time Parking System Market Other Major And Innovative Companies

31.1. SWARCO AG
31.2. Amano Corporation
31.3. Flowbird Group
31.4. FlashParking Inc.
31.5. INRIX Inc.
31.6. T2 Systems Inc.
31.7. Designa
31.8. Parkmobile LLC
31.9. IPS Group Inc.
31.10. Klaus Multiparking Systems Pvt Ltd
31.11. Altiux Innovations Pvt. Ltd.
31.12. Smart Parking Limited
31.13. Streetline Inc.
31.14. IEM SA
31.15. ParkWhiz API

32. Global Real Time Parking System Market Competitive Benchmarking

33. Global Real Time Parking System Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Real Time Parking System Market

35. Real Time Parking System Market Future Outlook and Potential Analysis

35.1 Real Time Parking System Market In 2028 - Countries Offering Most New Opportunities
35.2 Real Time Parking System Market In 2028 - Segments Offering Most New Opportunities
35.3 Real Time Parking System Market In 2028 - Growth Strategies
- 35.3.1 Market Trend Based Strategies
- 35.3.2 Competitor Strategies

36. Appendix

36.1. Abbreviations
36.2. Currencies
36.3. Historic And Forecast Inflation Rates
36.4. Research Inquiries
36.5. The Business Research Company
36.6. Copyright And Disclaimer