Parking Management Market Report: Trends, Forecast and Competitive Analysis to 2030

Parking Management Trends and Forecast

The future of the global parking management market looks promising with opportunities in the government, commercial, and transport transit applications. The global parking management market is expected to reach an estimated $6.7 billion by 2030 with a CAGR of 7.2% from 2024 to 2030. The major drivers for this market are increasing demand for smart parking space, rising preference for seamless traffic flow, and emergence of smart cities.

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Parking Management by Segment

The study includes a forecast for the global parking management by professional service, application, and region.

Parking Management Market by Professional Service [Shipment Analysis by Value from 2018 to 2030]:

• Consulting & Training
• System Integration & Deployment
• Support & Maintenance

Parking Management Market by Application [Shipment Analysis by Value from 2018 to 2030]:

• Government
• Commercial
• Transport Transit

Parking Management Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Parking Management Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies parking management companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the parking management companies profiled in this report include-

• Amano
• Cubic
• Kapsch Trafficcom
• Siemens
• Skidata
• Swarco
• Robert Bosch

Parking Management Market Insights

Lucintel forecasts that system integration & deployment is expected to witness highest growth over the forecast period due to increasing need for efficient and effective parking management solutions in public areas.

Within this market, government will remain the largest segment due to its increasing investment in smart parking technologies, such as parking guidance systems, parking reservation systems.

North America is expected to witness highest growth over the forecast period due to the growing adoption of car among population and rising adoption of mobile apps for finding parking spaces in the region.

Features of the Global Parking Management Market

Market Size Estimates: Parking management market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Parking management market size by professional service, application, and region in terms of value ($B).

Regional Analysis: Parking management market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different professional services, applications, and regions for the parking management market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the parking management market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is the parking management market size?

Answer: The global parking management market is expected to reach an estimated $6.7 billion by 2030.

Q2. What is the growth forecast for parking management market?

Answer: The global parking management market is expected to grow with a CAGR of 7.2% from 2024 to 2030.

Q3. What are the major drivers influencing the growth of the parking management market?

Answer: The major drivers for this market are increasing demand for smart parking space, rising preference for seamless traffic flow, and emergence of smart cities.

Q4. What are the major segments for parking management market?

Answer: The future of the parking management market looks promising with opportunities in the government, commercial, and transport transit applications.

Q5. Who are the key parking management market companies?

Answer: Some of the key parking management companies are as follows:

• Amano
• Cubic
• Kapsch Trafficcom
• Siemens
• Skidata
• Swarco
• Robert Bosch

Q6. Which parking management market segment will be the largest in future?

Answer: Lucintel forecasts that system integration & deployment is expected to witness highest growth over the forecast period due to increasing need for efficient and effective parking management solutions in public areas.

Q7. In parking management market, which region is expected to be the largest in next 5 years?

Answer: North America is expected to witness highest growth over the forecast period due to the growing adoption of car among population and rising adoption of mobile apps for finding parking spaces in the region.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the parking management market by professional service (consulting & training, system integration & deployment, and support & maintenance), application (government, commercial, and transport transit), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?