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Parking Management Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Market Overview:

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. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.

Parking management represents various programs, strategies and implemented policies that are designed to promote the efficient utilization of different parking resources and create more walkable areas. It constitutes parking management systems, security and surveillance solutions, boom barriers and parking reservation structures. These devices assist in mitigating the demand for parking subsidies, increasing travel options, inhibiting traffic, generating a return on investments (ROI) and maintaining the safety and security of the vehicle. On account of these properties, it finds extensive applications in off-street and on-street parking sites in on-premises and cloud solutions deployment forms. 

 

 
 

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Note: Values and trends in the above chart consists of dummy data and are only shown here for representation purpose. Kindly contact us for the actual market size and trends.

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Parking Management Market Trends:

The widespread adoption of parking management policies and solutions across commercial, residential and transportation sectors can be attributed to the increasing need for improved mobility amongst service consultants and optimizing overall revenue. This, along with the favorable initiatives being undertaken by the government bodies for managing tows, resolving traffic congestion issues, and mitigating overall operational expenditure (OPEX) and capital expenditure (CAPEX) represents the key factor primarily driving the market growth. In line with this, significant technological advancements, such as the integration of various parking management solutions with near-field communication (NFC), global positioning systems (GPS) and cameras is acting as another growth-inducing factor. These systems assist in identifying vacant spots, monitoring systems, providing enhanced signage, real-time parking indicators, and reducing the wastage of spaces by promoting efficient usage of parking resources. Other factors, such as rising demand for effective parking management solutions and the continuous investments in research and development (R&D) activities to introduce automated license plate recognition solutions and mobile phone applications for monitoring speed, gaining traction, and receiving voice guidance, are creating a positive outlook for the market.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global parking management market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on offering type, deployment mode and parking site.

Breakup by Offering Type:

  • Solution
  • Access Control
  • Security and Surveillance
  • Revenue Management
  • Parking Reservation Management
  • Valet Parking Management
  • Others
  • Service
  • Consulting and Training
  • System Integration and Deployment
  • Support and Maintenance
     

Breakup by Deployment Mode:

 

 
 

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  • On-premises
  • Cloud-based
     

Breakup by Parking Site:

  • Off-street
  • On-street
     

Breakup by Region:

 

 
 

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  • North America
    • United States
    • Canada
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa
     

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being 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).

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
    Historical Period 2016-2021
Forecast Period 2022-2027
Units US$ Billion
Segment Coverage Offering Type, Deployment Mode, Parking Site, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered 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).
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

 

1    Preface
2    Scope and Methodology
    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3    Executive Summary
4    Introduction
    4.1    Overview
    4.2    Key Industry Trends
5    Global Parking Management Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Market Forecast
6    Market Breakup by Offering Type
    6.1    Solution
        6.1.1 Market Trends
        6.1.2 Key Segments
           6.1.2.1 Access Control
           6.1.2.2 Security and Surveillance
           6.1.2.3 Revenue Management
           6.1.2.4 Parking Reservation Management
           6.1.2.5 Valet Parking Management
           6.1.2.6 Others
        6.1.3 Market Forecast
    6.2    Service
        6.2.1 Market Trends
        6.2.2 Key Segments
           6.2.2.1 Consulting and Training
           6.2.2.2 System Integration and Deployment
           6.2.2.3 Support and Maintenance
        6.2.3 Market Forecast
7    Market Breakup by Deployment Mode
    7.1    On-premises
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2    Cloud-based
        7.2.1 Market Trends
        7.2.2 Market Forecast
8    Market Breakup by Parking Site
    8.1    Off-street
        8.1.1 Market Trends
        8.1.2 Market Forecast
    8.2    On-street
        8.2.1 Market Trends
        8.2.2 Market Forecast
9    Market Breakup by Region
    9.1    North America
        9.1.1 United States
           9.1.1.1 Market Trends
           9.1.1.2 Market Forecast
        9.1.2 Canada
           9.1.2.1 Market Trends
           9.1.2.2 Market Forecast
    9.2    Asia-Pacific
        9.2.1 China
           9.2.1.1 Market Trends
           9.2.1.2 Market Forecast
        9.2.2 Japan
           9.2.2.1 Market Trends
           9.2.2.2 Market Forecast
        9.2.3 India
           9.2.3.1 Market Trends
           9.2.3.2 Market Forecast
        9.2.4 South Korea
           9.2.4.1 Market Trends
           9.2.4.2 Market Forecast
        9.2.5 Australia
           9.2.5.1 Market Trends
           9.2.5.2 Market Forecast
        9.2.6 Indonesia
           9.2.6.1 Market Trends
           9.2.6.2 Market Forecast
        9.2.7 Others
           9.2.7.1 Market Trends
           9.2.7.2 Market Forecast
    9.3    Europe
        9.3.1 Germany
           9.3.1.1 Market Trends
           9.3.1.2 Market Forecast
        9.3.2 France
           9.3.2.1 Market Trends
           9.3.2.2 Market Forecast
        9.3.3 United Kingdom
           9.3.3.1 Market Trends
           9.3.3.2 Market Forecast
        9.3.4 Italy
           9.3.4.1 Market Trends
           9.3.4.2 Market Forecast
        9.3.5 Spain
           9.3.5.1 Market Trends
           9.3.5.2 Market Forecast
        9.3.6 Russia
           9.3.6.1 Market Trends
           9.3.6.2 Market Forecast
        9.3.7 Others
           9.3.7.1 Market Trends
           9.3.7.2 Market Forecast
    9.4    Latin America
        9.4.1 Brazil
           9.4.1.1 Market Trends
           9.4.1.2 Market Forecast
        9.4.2 Mexico
           9.4.2.1 Market Trends
           9.4.2.2 Market Forecast
        9.4.3 Others
           9.4.3.1 Market Trends
           9.4.3.2 Market Forecast
    9.5    Middle East and Africa
        9.5.1 Market Trends
        9.5.2 Market Breakup by Country
        9.5.3 Market Forecast
10    SWOT Analysis
    10.1    Overview
    10.2    Strengths
    10.3    Weaknesses
    10.4    Opportunities
    10.5    Threats
11    Value Chain Analysis
12    Porters Five Forces Analysis
    12.1    Overview
    12.2    Bargaining Power of Buyers
    12.3    Bargaining Power of Suppliers
    12.4    Degree of Competition
    12.5    Threat of New Entrants
    12.6    Threat of Substitutes
13    Price Analysis
14    Competitive Landscape
    14.1    Market Structure
    14.2    Key Players
    14.3    Profiles of Key Players
        14.3.1    3M Company
           14.3.1.1 Company Overview
           14.3.1.2 Product Portfolio
           14.3.1.3 Financials
           14.3.1.4 SWOT Analysis
        14.3.2    Amano Corporation
           14.3.2.1 Company Overview
           14.3.2.2 Product Portfolio
           14.3.2.3 Financials
        14.3.3    Cubic Corporation
           14.3.3.1 Company Overview
           14.3.3.2 Product Portfolio
           14.3.3.3 SWOT Analysis
        14.3.4    FlashParking Inc. (Arrive Mobility Inc.)
           14.3.4.1 Company Overview
           14.3.4.2 Product Portfolio
        14.3.5    Infocomm Group LLC
           14.3.5.1 Company Overview
           14.3.5.2 Product Portfolio
        14.3.6    International Business Machines Corporation
           14.3.6.1 Company Overview
           14.3.6.2 Product Portfolio
           14.3.6.3 Financials
           14.3.6.4 SWOT Analysis
        14.3.7    Passport Labs Inc.
           14.3.7.1 Company Overview
           14.3.7.2 Product Portfolio
        14.3.8    Q-Free ASA
           14.3.8.1 Company Overview
           14.3.8.2 Product Portfolio
           14.3.8.3 Financials
        14.3.9    Robert Bosch GmbH
           14.3.9.1 Company Overview
           14.3.9.2 Product Portfolio
           14.3.9.3 SWOT Analysis
        14.3.10    SAP SE
           14.3.10.1 Company Overview
           14.3.10.2 Product Portfolio
           14.3.10.3 Financials
           14.3.10.4 SWOT Analysis
        14.3.11    Siemens AG
           14.3.11.1 Company Overview
           14.3.11.2 Product Portfolio
           14.3.11.3 Financials
           14.3.11.4 SWOT Analysis
        14.3.12    T2 Systems Inc. (Verra Mobility)
           14.3.12.1 Company Overview
           14.3.12.2 Product Portfolio

List of Figures

Figure 1: Global: Parking Management Market: Major Drivers and Challenges
Figure 2: Global: Parking Management Market: Sales Value (in Billion US$), 2016-2021
Figure 3: Global: Parking Management Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 4: Global: Parking Management Market: Breakup by Offering Type (in %), 2021
Figure 5: Global: Parking Management Market: Breakup by Deployment Mode (in %), 2021
Figure 6: Global: Parking Management Market: Breakup by Parking Site (in %), 2021
Figure 7: Global: Parking Management Market: Breakup by Region (in %), 2021
Figure 8: Global: Parking Management (Solution) Market: Sales Value (in Million US$), 2016 & 2021
Figure 9: Global: Parking Management (Solution) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 10: Global: Parking Management (Service) Market: Sales Value (in Million US$), 2016 & 2021
Figure 11: Global: Parking Management (Service) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 12: Global: Parking Management (On-premises) Market: Sales Value (in Million US$), 2016 & 2021
Figure 13: Global: Parking Management (On-premises) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 14: Global: Parking Management (Cloud-based) Market: Sales Value (in Million US$), 2016 & 2021
Figure 15: Global: Parking Management (Cloud-based) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 16: Global: Parking Management (Off-street) Market: Sales Value (in Million US$), 2016 & 2021
Figure 17: Global: Parking Management (Off-street) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 18: Global: Parking Management (On-street) Market: Sales Value (in Million US$), 2016 & 2021
Figure 19: Global: Parking Management (On-street) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 20: North America: Parking Management Market: Sales Value (in Million US$), 2016 & 2021
Figure 21: North America: Parking Management Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 22: United States: Parking Management Market: Sales Value (in Million US$), 2016 & 2021
Figure 23: United States: Parking Management Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 24: Canada: Parking Management Market: Sales Value (in Million US$), 2016 & 2021
Figure 25: Canada: Parking Management Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 26: Asia-Pacific: Parking Management Market: Sales Value (in Million US$), 2016 & 2021
Figure 27: Asia-Pacific: Parking Management Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 28: China: Parking Management Market: Sales Value (in Million US$), 2016 & 2021
Figure 29: China: Parking Management Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 30: Japan: Parking Management Market: Sales Value (in Million US$), 2016 & 2021
Figure 31: Japan: Parking Management Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 32: India: Parking Management Market: Sales Value (in Million US$), 2016 & 2021
Figure 33: India: Parking Management Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 34: South Korea: Parking Management Market: Sales Value (in Million US$), 2016 & 2021
Figure 35: South Korea: Parking Management Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 36: Australia: Parking Management Market: Sales Value (in Million US$), 2016 & 2021
Figure 37: Australia: Parking Management Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 38: Indonesia: Parking Management Market: Sales Value (in Million US$), 2016 & 2021
Figure 39: Indonesia: Parking Management Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 40: Others: Parking Management Market: Sales Value (in Million US$), 2016 & 2021
Figure 41: Others: Parking Management Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 42: Europe: Parking Management Market: Sales Value (in Million US$), 2016 & 2021
Figure 43: Europe: Parking Management Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 44: Germany: Parking Management Market: Sales Value (in Million US$), 2016 & 2021
Figure 45: Germany: Parking Management Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 46: France: Parking Management Market: Sales Value (in Million US$), 2016 & 2021
Figure 47: France: Parking Management Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 48: United Kingdom: Parking Management Market: Sales Value (in Million US$), 2016 & 2021
Figure 49: United Kingdom: Parking Management Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 50: Italy: Parking Management Market: Sales Value (in Million US$), 2016 & 2021
Figure 51: Italy: Parking Management Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 52: Spain: Parking Management Market: Sales Value (in Million US$), 2016 & 2021
Figure 53: Spain: Parking Management Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 54: Russia: Parking Management Market: Sales Value (in Million US$), 2016 & 2021
Figure 55: Russia: Parking Management Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 56: Others: Parking Management Market: Sales Value (in Million US$), 2016 & 2021
Figure 57: Others: Parking Management Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 58: Latin America: Parking Management Market: Sales Value (in Million US$), 2016 & 2021
Figure 59: Latin America: Parking Management Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 60: Brazil: Parking Management Market: Sales Value (in Million US$), 2016 & 2021
Figure 61: Brazil: Parking Management Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 62: Mexico: Parking Management Market: Sales Value (in Million US$), 2016 & 2021
Figure 63: Mexico: Parking Management Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 64: Others: Parking Management Market: Sales Value (in Million US$), 2016 & 2021
Figure 65: Others: Parking Management Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 66: Middle East and Africa: Parking Management Market: Sales Value (in Million US$), 2016 & 2021
Figure 67: Middle East and Africa: Parking Management Market: Breakup by Country (in %), 2021
Figure 68: Middle East and Africa: Parking Management Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 69: Global: Parking Management Industry: SWOT Analysis
Figure 70: Global: Parking Management Industry: Value Chain Analysis
Figure 71: Global: Parking Management Industry: Porter's Five Forces Analysis

List of Tables

Table 1: Global: Parking Management Market: Key Industry Highlights, 2021 and 2027
Table 2: Global: Parking Management Market Forecast: Breakup by Offering Type (in Million US$), 2022-2027
Table 3: Global: Parking Management Market Forecast: Breakup by Deployment Mode (in Million US$), 2022-2027
Table 4: Global: Parking Management Market Forecast: Breakup by Parking Site (in Million US$), 2022-2027
Table 5: Global: Parking Management Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 6: Global: Parking Management Market: Competitive Structure
Table 7: Global: Parking Management Market: Key Players


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Key Questions Answered in This Report

The global parking management market was valued at US$ 3.94 Billion in 2021.

We expect the global parking management market to exhibit a CAGR of 9.30% during 2022-2027.

The rising integration of numerous parking management solutions with Near-Field Communication (NFC), GPS, and cameras, for identifying vacant spots, monitoring systems, providing enhanced signage, etc., is primarily driving the global parking management market.

The sudden outbreak of the COVID-19 pandemic has led to the increasing demand for parking management solutions, owing to the rising adoption of contactless or ticketless parking facilities to combat the risk of the coronavirus infection upon human interaction.

Based on the offering type, the global parking management market can be segmented into solution and service. Currently, solution holds the majority of the total market share.

Based on the deployment mode, the global parking management market has been divided into on-premises and cloud-based, where on-premises deployment currently exhibits a clear dominance in the market.

Based on the parking site, the global parking management market can be categorized into off-street and on-street. Currently, off-street accounts for the largest market share.

On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.

Some of the major players in the global parking management market include 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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