Global Parking Management Market to Surpass USD 8.1 Billion by 2028, finds Bekryl

“Bekryl Market Intelligence Report | Parking Management Market | 2019”
Global Parking Management Market will register 7.8% CAGR to create high market opportunity for industry players. Explore key strategic insights. Higher IoT integration and rise in automotive sales to create favorable ecosystem for companies.

According to recently released market intelligence report, Global Parking Management Market is poised to register 7.8% CAGR between 2018 and 2028 to reach US$ 8.1 billion by 2028 end.

Parking is essential part of transport. Rise in automotive sales has led parking system complex. As such, demand for parking management has heightened in last five years. The industry registered double digit growth between 2011 and 2015 and will continue to grow at significant rate for another ten years. According to the study, each vehicle stands at parking on every 19 days interval. This duration is expected to further shorten with rise in traffic commuters and rise in urbanization. This will boost the demand for parking management systems.

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Some key trends from the global parking management market:

Trend#1: Municipality Managed Parking Management to Account for 56% of Parking Management

Parking management systems are installed across various end-use sectors including corporate houses, municipalities, educational institutes, residential societies, and government run bodies. Among these, majority of parking management systems are installed at municipality operated parking sites. Emergence of smart cities will further create the demand for such systems in municipality.

Trend#2: Off-Street to Dominate the Installation of Parking Management Systems

Off-street accounted for 77% of total parking management market sales in 2018. Sales will continue to register steady growth throughout the forecast period (2018-2028).

Trend#3: Western Europe Dominated the Global Parking Management Market in 2018

Western Europe accounted for highest installation of parking management systems in 2018. Increased automation and higher IoT integration has created favorable platform for industry players in the region. Italy, UK and France reported highest installation of parking management systems in the region.

Some key Parking Management Market Players are Xerox Corporation, M Company, Cubic Corporation, Swarco Corporation, Kapsch TrafficCom, Amano Corporation, IBM Corporation, Skidata, Siemens AG, and T2 Systems

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Bekryl has analyzed the market by:

By Type:

  • Software
  • Hardware
  • Services

By Parking Sites:

  • On-street
  • Off-street

By Application:

  • Security & Surveillance
  • Vehicle Parking Management
  • Parking Reservation
  • Others

By End-use:

  • Municipal Operated Parking Facilities
  • Transport Transit
  • Corporate Buildings
  • Recreational Centers (Cinema, Fun Parks, etc)
  • Military Sector
  • Schools and Universities
  • Government Bodies
  • Others

Key Topics Covered in the Report:

  1. Research Methodology
  2. Executive Summary
  3. Value Chain Analysis

3.1.   Profit Analysis

3.2.   Key Players Across Value Chain

  1. Key Spending Analysis
  2. Market Growth Scenario

5.1.   Pessimistic

5.2.   Optimistic

5.3.   Realistic

  1. Parking Management Market Dynamics

6.1.   Drivers

6.2.   Restraints

6.3.   Opportunities

6.4.   Trends

6.5.   Porter’s Analysis

  1. Parking Management Systems Market, By Type (US$ Mn), 2018-2028

7.1.   Services

7.2.   Software

7.3.   Hardware

  1. Parking Management Systems Market, By Parking Sites (US$ Mn), 2018-2028

8.1.   On-Street

8.2.   Off-Street

  1. Parking Management Systems Market, By Application (US$ Mn), 2018-2028

9.1.   Security and Surveillance

9.2.   Vehicle Parking Management

9.3.   Parking Reservations

9.4.   Others

  1. Parking Management Systems Market, By End-use (US$ Mn), 2018-2028

10.1.                    Municipality Operated Parking Centers

10.2.                    Transport Transit

10.3.                    Corporate Buildings

10.4.                    Recreational Centers

10.5.                    Military Sectors

10.6.                    Government Bodies

10.7.                    Educational Institutes

10.8.                    Others

  1. Parking Management Market, By Region (US$ Mn), 2018-2028

11.1.                    North America

11.2.                    Western Europe

11.3.                    Central & Eastern Europe (CEE)

11.4.                    Asia Pacific

11.5.                    Middle East

11.6.                    Latin America

11.7.                    Africa

  1. Parking Management Market Competition Landscape

12.1.                    Competition Dashboard

12.2.                    Distribution Channel Matrix

12.3.                    Company Profiles (Check above list of companies)


*(Research Scope is tentative. Request Sample/Contact Bekryl to get complete research information and table of contents)

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