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Market Research Report

Global Parking Management Solutions Market - 2019-2026

Published by DataM Intelligence Product code 913729
Published Content info 130-180 Pages
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Global Parking Management Solutions Market - 2019-2026
Published: October 19, 2019 Content info: 130-180 Pages
Description

The global Parking Management Solutions Market expected to reach $XX billion by 2026, at a CAGR of over 10% during the forecast period. Factors such as increased investments for smart cities globally and increasing need for optimum utilization of parking spaces will further result in double-digit growth in global parking management solutions market over the forecast period.

Parking management systems comprise traveler information systems, real-time vehicle counting, real-time parking guidance display, video surveillance, and easy payment options. Some advanced parking management systems allow users to reserve and pay for a parking space via telephone or the internet. Parking has become a major issue of concern in urban areas. With the continuous rise number of vehicles on the road, there are not enough parking spots available. Therefore, smart parking solutions are growing in popularity as it helps in reducing traffic congestion caused by cars searching for parking spots.

The report covers all the major trends and drivers playing a vital role in the growth of the global Parking Management Solutions Market. The global Parking Management Solutions Market has been segmented based on region, product, and type.

Market Dynamics

The global Parking Management Solutions Market growth is primarily driven by rising parking concerns and issues, especially in urban areas. In developing economies, domestic migration is driving the move from rural to urban living. Almost everyone wants to live in cities, which are not always properly planned and developed to accommodate the millions of new residents. Globalization has pushed these cities into newly realized economic hubs. For instance, nearly 31% of India's current population lives in urban areas. India's urban growth is largely concentrated in large cities with a population of 100,000 or more, the number of cities with a population exceeding 1 million has increased from 35 in 2001 to 53 in 2011, accounting for 43% of India's urban population, and is expected to be 87% by 2030. As per the International Energy Agency (IEA), by 2050, India will need an estimated 10,000 to 20,000 square kilometers of surface parking area, an area equal to 35 times the size of the city of Mumbai or just a little smaller than entire state of California.

Moreover, there has been a quick rise in the number of vehicles, which has intensified the issue related to the shortage of parking space. Therefore, the requirement of smart and efficient parking system is growing and will be the major factor driving the global parking management solutions market over the forecast period.

Market Segment Analysis

Based on the product, the global Parking Management Solutions Market can be classified into revenue management, security and surveillance, access control, reservation management, and others. In 2018, revenue management segment accounted for the majority share in the global market owing to its application in maximizing the profit by optimizing the space and business demand.

In 2018, Avinor partnered with IDeaS Revenue Solutions to optimize revenue growth for its 11 car parks and more than 20,000 parking spaces at Oslo Airport. This strategy will create a better experience for the growing number of travelers, and customers will receive more dynamic pricing on Avinor's pre-book solution, with prices regulated based on actual demand.

Based on type, the global Parking Management Solutions Market can be classified into off-street parking and on-street parking. In 2018, On-street parking solutions segment dominated the global market. The rapid adoption of on-street parking management by the government authorities across the world, allowing government authorities to legitimately generate revenues through public properties is further expected to drive the growth of the on-street parking solutions segment over the forecast period.

Regional Analysis

By geography, the global Parking Management Solutions Market is segmented into North America, Asia-Pacific (APAC), Europe, South America, and the Middle East and Africa (MEA). In 2018, North America accounted for the majority share in the market. In 2017, according to the INRIX, it was estimated that U.S. population spends approximate 17 hours in a year searching for parking spots, which is means an estimated US$ 345 per driver in wasted time, fuel, and emissions. These stats are the indicators of continued stress on the parking management to efficiently and effectively manage the parking spaces.

In addition, rapid infrastructural development in the region will play a pivotal role in the growth of the global Parking Management Solutions market. For instance, In Mexico, the government plans to open SEZ across the country to promote economic growth in the region, which will further increase the demand for Parking Management Solutions.

APAC is expected to post higher CAGR over the forecast period. The growth in the market is mainly due to rapid urbanization, highly flourishing residential and commercial building sectors, and growing middle-class population and spending power coupled with rising awareness for Parking Management Solutions, which leads to the increasing demand for technology in the region. For instance, in 2019, Beijing Capital International Airport tested China's first intelligent robotic parking system. The system includes 132 parking spaces and eight robots. It will be a relief for drivers with poor parking skills or who are struggling to quickly find a parking space.

Competitive Analysis

Global Parking Management Solutions Market is moderately fragmented with the presence of global and regional players in the market. The market players in the Parking Management Solutions Market are focusing on expanding through strategic interventions, such as acquisitions, and collaborations in the Parking Management Solutions Market.

Some major players in the market are Amano, Kapsch TrafficCom, Siemens, SKIDATA, Swarco, Q-Free, Inrix, Flashparking, Parkmobile, Tiba Parking, Urbiotica, and among others.

In 2018, Conduent Incorporated announced it has entered into a binding agreement to sell its off-street parking business, including the Conduent Multipark System in France and the U.K., along with its U.S. airport parking business, to Andera Partners, an investment firm in France.

Why Purchase the Report?

  • Identify new growth opportunities with In-depth insights for strategic business plans and design innovative strategies for sustainable growth.
  • Comprehensive details on factors that will drive or challenge the growth of market players.
  • Deep Sector-Specific Intelligence
  • Highlights of the competitive landscape
  • *The global Parking Management Solutions Market report would provide access to an approx., 92 market data table,76 figures, and 188 pages.

Target Audience:

  • Equipment Suppliers/ Buyers
  • Service Providers/ Buyers
  • Industry Investors/Investment Bankers
  • Research Professionals
  • Emerging Companies
  • Manufacturers and Industry association
Table of Contents

Table of Contents

1. Global Parking Management Solutions Market Methodology and Scope

  • 1.1. Research Methodology
  • 1.2. Research Objective and Scope of the Report

2. Global Parking Management Solutions Market - Market Definition and Overview

3. Global Parking Management Solutions Market - Executive Summary

  • 3.1 Market Snippet by Product
  • 3.2 Market Snippet by Type
  • 3.3 Market Snippet by Region

4 Global Parking Management Solutions Market - Market Dynamics

  • 4.1 Market Impacting Factors
    • 4.1.1 Drivers
      • 4.1.1.1 Modernization of Aging Grid Infrastructure
    • 4.1.2 Restraints
      • 4.1.2.1 High setup and initial cost
    • 4.1.3 Opportunity Analysis
    • 4.1.4 Impact Analysis

5 Global Parking Management Solutions Market - Industry Analysis

  • 5.1 Porter's Five Forces Analysis

6 Global Parking Management Solutions Market - By Product

  • 6.1 Introduction
    • 6.1.1 Market Size Analysis, and Y-o-Y Growth Analysis (%), By Product
    • 6.1.2 Market Attractiveness Index, By Product
  • 6.2 Revenue management*
    • 6.2.1 Introduction
    • 6.2.2 Market Size Analysis, and Y-o-Y Growth Analysis (%)
  • 6.3 Security and surveillance
  • 6.4 Access control
  • 6.5 Reservation management
  • 6.6 Others

7 Global Parking Management Solutions Market - By Type

  • 7.1 Introduction
    • 7.1.1 Market Size Analysis, and Y-o-Y Growth Analysis (%), By Type
    • 7.1.2 Market Attractiveness Index, By Type
  • 7.2 Off-street parking*
    • 7.2.1 Introduction
    • 7.2.2 Market Size Analysis, and Y-o-Y Growth Analysis (%)
  • 7.3 On-street parking

8 Global Parking Management Solutions Market - By Region

  • 8.1 Introduction
    • 8.1.1 Market Size Analysis, and Y-o-Y Growth Analysis (%), By Region
    • 8.1.2 Market Attractiveness Index, By Region
  • 8.2 North America
    • 8.2.1 Introduction
    • 8.2.2 Key Region-Specific Dynamics
    • 8.2.3 Market Size Analysis, and Y-o-Y Growth Analysis (%), By Product
    • 8.2.4 Market Size Analysis, and Y-o-Y Growth Analysis (%), By Type
    • 8.2.5 Market Size Analysis, and Y-o-Y Growth Analysis (%), By Country
      • 8.2.5.1 The U.S.
      • 8.2.5.2 Canada
      • 8.2.5.3 Mexico
  • 8.3 Europe
    • 8.3.1 Introduction
    • 8.3.2 Key Region-Specific Dynamics
    • 8.3.3 Market Size Analysis, and Y-o-Y Growth Analysis (%), By Product
    • 8.3.4 Market Size Analysis, and Y-o-Y Growth Analysis (%), By Type
    • 8.3.5 Market Size Analysis, and Y-o-Y Growth Analysis (%), By Country
      • 8.3.5.1 Germany
      • 8.3.5.2 The U.K.
      • 8.3.5.3 France
      • 8.3.5.4 Italy
      • 8.3.5.5 Spain
      • 8.3.5.6 Russia
      • 8.3.5.7 Rest of Europe
  • 8.4 South America
    • 8.4.1 Introduction
    • 8.4.2 Key Region-Specific Dynamics
    • 8.4.3 Market Size Analysis, and Y-o-Y Growth Analysis (%), By Product
    • 8.4.4 Market Size Analysis, and Y-o-Y Growth Analysis (%), By Type
    • 8.4.5 Market Size Analysis, and Y-o-Y Growth Analysis (%), By Country
      • 8.4.5.1 Brazil
      • 8.4.5.2 Argentina
      • 8.4.5.3 Chile
      • 8.4.5.4 Colombia
      • 8.4.5.5 Rest of South America
  • 8.5 Asia Pacific
    • 8.5.1 Introduction
    • 8.5.2 Key Region-Specific Dynamics
    • 8.5.3 Market Size Analysis, and Y-o-Y Growth Analysis (%), By Product
    • 8.5.4 Market Size Analysis, and Y-o-Y Growth Analysis (%), By Type
    • 8.5.5 Market Size Analysis, and Y-o-Y Growth Analysis (%), By Country
      • 8.5.5.1 China
      • 8.5.5.2 Japan
      • 8.5.5.3 South Korea
      • 8.5.5.4 India
      • 8.5.5.5 Indonesia
      • 8.5.5.6 Australia
      • 8.5.5.7 Rest of Asia Pacific
  • 8.6 The Middle East and Africa
    • 8.6.1 Introduction
    • 8.6.2 Key Region-Specific Dynamics
    • 8.6.3 Market Size Analysis, and Y-o-Y Growth Analysis (%), By Product
    • 8.6.4 Market Size Analysis, and Y-o-Y Growth Analysis (%), By Type

9 Global Parking Management Solutions Market - Competitive Landscape

    • 9.1.1 Competitive Scenario
    • 9.1.2 Market Positioning/Share Analysis
    • 9.1.3 Mergers and Acquisitions Analysis

10 Company Profiles

  • 10.1 Amano*
    • 10.1.1 Company Overview
    • 10.1.2 Product Portfolio and Description
    • 10.1.3 Key Highlights
    • 10.1.4 Financial Overview
  • 10.2 Kapsch TrafficCom
  • 10.3 Siemens
  • 10.4 SKIDATA
  • 10.5 Swarco
  • 10.6 Q-Free
  • 10.7 Inrix
  • 10.8 Flashparking
  • 10.9 Parkmobile
  • 10.10 Tiba Parking
  • 10.11 Urbiotica
  • *List not exhaustive

11 Global Parking Management Solutions Market - Premium Insights

12 Global Parking Management Solutions Market - DataM

  • 12.1 Appendix
  • 12.2 About Us and Services
  • 12.3 Contact Us
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