The cities such as Tokyo and Osaka in Japan, Delhi, and Mumbai in India, Shanghai in China, are considered to be the most populated cities in the world. These cities hold more than 10 million of the worlds’ population. They face tremendous pressure in terms of dwelling and parking space. The increasing vehicles and paucity of parking space have been playing havoc with traffic management. The commuters and pedestrians are getting continuously annoyed with the honking and screeching of vehicles and are looking forward to an effective parking management solution. Expansion of parking areas is the least effective solution for the problem as an increase in spaces has the possibility of creating more congestion in the same place
Parking Management Market was valued at US$ 3,355 million in 2018 and is anticipated to succeed in US$ 6, 939.5 million by 2027, growing at an estimated CAGR of 8.5% over the forecast period.
Parking management refers to various policies and programs that allow for the additional economical use of parking resources. Parking is an essential element of any vehicle. Charged parking management schemes have become part of most rating schemes in major urban areas. Also, the government bodies in these cities are looking forward to implement effective parking management market strategies and policies. These cities have even adopted the parking guidance system as a part of the intelligent transportation system (ITS) to combat the issue. The recent advances in information and communication technologies (ICT) that include overhead sensors, wired and wireless networks, and connected smartphones have made it possible to provide very useful parking information to drivers.
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Top Key Players are Conduent, Inc., Amano, Indigo Park Services, Chetu Inc., Streetline, SWARCO, T2 SYSTEMS, INRIX, Flashparking, SAP, Siemens, APCOA PARKING Amongst Others.
Parking Management Market
By Parking Site
- Parking Guidance Solution
- Parking Reservation Management
- Parking Permit Management
- Parking Enforcement Management
- Parking Access and Revenue Control
- Parking Security and Surveillance
- Parking Analytics
- Professional Services
- Managed Services
- Off-Street Parking
- On-Street Parking
By Regional outlook-
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The objective of the Report
- Transportation & Transit
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- To analyze strategies/developments such as collaborations, agreements, partnerships, mergers and acquisitions, and product launches and developments in the Parking Management
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in Parking Management.
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Parking Management
- The key findings and recommendations highlight crucial progressive industry trends in Parking Management, thereby allowing players to develop effective long term strategies
- To strategically analyze micro-markets with respect to individual growth trends, prospects, and contributions to the total market
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- It takes a closer and analytical look at the various companies that are striving for global Parking Management. To get more clients rapidly, different applicable sales strategies have been mentioned in the report. A notable feature of the report is an analysis of applications, end-users, size, and technical platforms.
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