PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1755290
PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1755290
Parking Reservation System Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2025 - 2034
The Global Parking Reservation System Market was valued at USD 1.1 billion in 2024 and is estimated to grow at a CAGR of 8.4% to reach USD 2.3 billion by 2034, driven by the growing urban population and rising vehicle ownership, parking, particularly in crowded areas like city centers and transport hubs. As available parking spots become more limited, the demand for efficient reservation systems grows. These systems allow drivers to secure parking spaces ahead of time, saving time and reducing congestion caused by cars searching for parking.
Additionally, smart city initiatives are adopted globally, integrating advanced parking solutions with sensors, mobile apps, and data analytics to offer real-time information about available spaces. This trend is fueled by government investments in urban mobility, focusing on innovative technologies to streamline traffic management and parking. The growing need for parking spaces due to increased commercial activities, e-commerce, and ridesharing services also drives the demand for reservation systems, as they help businesses and delivery drivers find parking spots quickly and efficiently in busy urban locations.
| Market Scope | |
|---|---|
| Start Year | 2024 |
| Forecast Year | 2025-2034 |
| Start Value | $1.1 Billion |
| Forecast Value | $2.3 Billion |
| CAGR | 8.4% |
The off-street parking segment generated USD 954 million in 2024. Off-street parking has become increasingly popular, particularly with travelers and commuters who seek cost-effective alternatives to on-site parking at airports, shopping centers, or business districts. These facilities, often located a short distance from main attractions, offer convenient shuttle services and allow drivers to reserve parking in advance through mobile apps. As cities become more congested, off-street parking provides a vital solution to alleviate the pressure on street parking and improve traffic flow.
The software component segment in the parking reservation systems market held a 49% share in 2024. Cloud platforms and mobile applications allow users to reserve parking spaces, make payments, and receive real-time updates. This technology also benefits operators by providing insights into usage patterns, which helps optimize parking availability and improve service delivery.
North America Parking Reservation System Market held 34% share in 2024. U.S. cities with high vehicle concentrations, such as New York and Los Angeles, rely on digital parking reservation systems to manage limited parking spaces efficiently. Municipalities are integrating these solutions with public transport systems to offer seamless, multi-modal transport options. The push for smarter parking solutions is also driven by concerns over traffic congestion and environmental impacts, leading urban governments to adopt digital systems that can help reduce emissions, improve mobility, and streamline daily commutes.
Key players in the parking reservation system market include Scheidt & Bachmann, APCOA PARKING, JustPark, SpotHero, Streetline, Kapsch TrafficCom AG, Amano McGann, ParkMe, ParkMobile, and ParkWhiz. In the parking reservation system market, companies are focusing on developing advanced software solutions that integrate cloud platforms and mobile applications to offer real-time parking space availability and easy reservation options. Many are investing in sensor technologies and data analytics to provide detailed insights into parking patterns, helping operators optimize space utilization. Partnerships with municipalities and transportation agencies are also key strategies for market expansion. By offering tailored solutions for high-traffic areas, such as city centers and airports, companies are helping to address the growing demand for convenient parking options in urban environments.
Table of Contents
Chapter 1 Methodology & Scope
- 1.1 Research design
- 1.1.1 Research approach
- 1.1.2 Data collection methods
- 1.2 Base estimates and calculations
- 1.2.1 Base year calculation
- 1.2.2 Key trends for market estimates
- 1.3 Forecast model
- 1.4 Primary research & validation
- 1.4.1 Primary sources
- 1.4.2 Data mining sources
- 1.5 Market definitions
Chapter 2 Executive Summary
- 2.1 Industry 360° synopsis, 2021 - 2034
Chapter 3 Industry Insights
- 3.1 Industry ecosystem analysis
- 3.2 Trump administration tariff analysis
- 3.2.1 Impact on trade
- 3.2.1.1 Trade volume disruptions
- 3.2.1.2 Retaliatory measures
- 3.2.2 Impact on the industry
- 3.2.2.1 Supply-side impact (raw materials)
- 3.2.2.1.1 Price volatility in key materials
- 3.2.2.1.2 Supply chain restructuring
- 3.2.2.1.3 Production cost implications
- 3.2.2.2 Demand-side impact (selling price)
- 3.2.2.2.1 Price transmission to end markets
- 3.2.2.2.2 Market share dynamics
- 3.2.2.2.3 Consumer response patterns
- 3.2.2.1 Supply-side impact (raw materials)
- 3.2.3 Key companies impacted
- 3.2.4 Strategic industry responses
- 3.2.4.1 Supply chain reconfiguration
- 3.2.4.2 Pricing and product strategies
- 3.2.4.3 Policy engagement
- 3.2.5 Outlook and future considerations
- 3.2.1 Impact on trade
- 3.3 Supplier landscape
- 3.3.1 Parking management system providers
- 3.3.2 Digital parking platform providers
- 3.3.3 Smart sensor & IoT solution providers
- 3.3.4 Cloud Software & integration providers
- 3.3.5 Infrastructure & payment tech providers
- 3.4 Profit margin analysis
- 3.5 Technology & innovation landscape
- 3.6 Key news & initiatives
- 3.7 Patent analysis
- 3.8 Regulatory landscape
- 3.9 Impact forces
- 3.9.1 Growth drivers
- 3.9.1.1 Rising urbanization and vehicle ownership
- 3.9.1.2 Growth of smart city projects
- 3.9.1.3 Surge in e-commerce and on-demand economy
- 3.9.1.4 Rising smartphone penetration and mobile app usage
- 3.9.2 Industry pitfalls & challenges
- 3.9.2.1 Limited integration with legacy parking infrastructure
- 3.9.2.2 Data privacy and cybersecurity risks
- 3.9.1 Growth drivers
- 3.10 Growth potential analysis
- 3.11 Porter's analysis
- 3.12 PESTEL analysis
Chapter 4 Competitive Landscape, 2024
- 4.1 Introduction
- 4.2 Company market share analysis
- 4.3 Competitive positioning matrix
- 4.4 Strategic outlook matrix
Chapter 5 Market Estimates & Forecast, By Type, 2021 - 2034 ($ Mn)
- 5.1 Off-street parking
- 5.2 On-street parking
Chapter 6 Market Estimates & Forecast, By Component, 2021 - 2034 ($ Mn)
- 6.1 Hardware
- 6.1.1 Parking sensors
- 6.1.2 Cameras and ANPR systems
- 6.1.3 Smart parking meters
- 6.1.4 Barriers and gates
- 6.1.5 Display boards and signage
- 6.2 Software
- 6.2.1 Parking management software
- 6.2.2 Mobile applications
- 6.2.3 Cloud-based solutions
- 6.2.4 Analytics & reporting tools
- 6.2.5 Integration software
- 6.3 Services
- 6.3.1 Professional services
- 6.3.1.1 Deployment & integration
- 6.3.1.2 Consulting
- 6.3.1.3 Support & maintenance
- 6.3.1 Professional services
- 6.4 Managed Services
Chapter 7 Market Estimates & Forecast, By Platform, 2021 - 2034 ($ Mn)
- 7.1 Web-based
- 7.2 Mobile-based
Chapter 8 Market Estimates & Forecast, By Parking Site, 2021 - 2034 ($ Mn)
- 8.1 Commercial
- 8.2 Residential
- 8.3 Municipal
- 8.4 Airports
- 8.5 Hospitals
- 8.6 Others
Chapter 9 Market Estimates & Forecast, By End Use, 2021 - 2034 ($ Mn)
- 9.1 Individual users
- 9.2 Transport authorities
- 9.3 Corporates & facility managers
- 9.4 Hospitality & retail
- 9.5 Event management organizations
Chapter 10 Company Profiles
- 10.1 Amano McGann
- 10.2 APCOA PARKING
- 10.3 Empark Aparcamiento Plaza de Colon
- 10.4 Flowbird Group
- 10.5 Justpark
- 10.6 Kapsch TrafficCom
- 10.7 Nedap
- 10.8 ParkIT Technologies
- 10.9 ParkMe
- 10.10 ParkMobile
- 10.11 Parkopedia
- 10.12 ParkWhiz
- 10.13 Passport
- 10.14 PayByPhone
- 10.15 Scheidt & Bachmann
- 10.16 Skidata
- 10.17 SpotHero
- 10.18 Streetline
- 10.19 TIBA Parking Systems
- 10.20 Xerox Parking
