IMARC Group’s latest research report, titled “Parking Management Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027,” offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.
The global parking management market reached a value of US$ 3.94 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 6.85 Billion by 2027, exhibiting a CAGR of 9.30% during 2022-2027 Parking management refers to managing and using the sources available for parking vehicles wholly and efficiently. It lets users quickly search the parking spots and provides guidance to enhance the visitor’s experience. It offers additional space to hold extra vehicles with smart parking systems and mechanical parking.
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Important Attribute and highlights of the Report:
- Detailed analysis of the global market share
- Market Segmentation by offering type, deployment mode and parking site.
- Historical, current, and projected size of the market in terms of volume and value
- Latest industry trends and developments
- Competitive Landscape for Parking Management Market
- Strategies of major players and product offerings
The global market is primarily driven by the growing demand for optimum utilization of parking spaces. In line with this, the adoption of parking management solutions, such as improved signage and real-time parking indicators, is significantly contributing to the market. Furthermore, an increase in the number of vehicles across the globe is catalyzing the market growth. Apart from this, rising smart city initiatives by the government of various countries are offering lucrative growth opportunities to the market players. Moreover, the high adoption of wireless technologies in the transportation industry and the growing demand for advanced security and surveillance parking solutions are creating a positive outlook for the market.
Key Players Included in Global Parking Management Market Research Report:
- 3M Company
- Amano Corporation
- Cubic Corporation
- FlashParking Inc. (Arrive Mobility Inc.)
- Infocomm Group LLC
- International Business Machines Corporation
- Passport Labs Inc.
- Q-Free ASA
- Robert Bosch GmbH
- SAP SE
- Siemens AG and T2 Systems Inc. (Verra Mobility)
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COVID-19 Impact Overview:
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Key Market Segmentation:
Breakup by Offering Type:
Security and Surveillanc
Parking Reservation Management
Valet Parking Management
Consulting and Training
System Integration and Deployment
Support and Maintenance
Breakup by Deployment Mode:
Breakup by Parking Site:
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
TOC for the Parking Management Market Research Report:
- Scope and Methodology
- Executive Summary
- Global Parking Management Market
- SWOT Analysis
- Value Chain Analysis
- Price Analysis
- Competitive Landscape
Who we are:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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