PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1811753
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1811753
The parking management market is estimated to be USD 7.22 billion in 2025 and is projected to reach USD 12.41 billion by 2030 at a CAGR of 11.4%.
Scope of the Report | |
---|---|
Years Considered for the Study | 2020-2030 |
Base Year | 2024 |
Forecast Period | 2025-2030 |
Units Considered | Value (USD) Million/Billion |
Segments | Offering, Parking Site, End Use, and Region |
Regions covered | North America, Europe, Asia Pacific, Middle East & Africa, and Latin America |
It is driven by sustainability goals, with cities promoting green parking solutions such as dedicated bays for electric vehicles and initiatives to reduce exhaust emissions from parked cars. Economic priorities fuel adoption as operators seek to optimize revenue through dynamic pricing models and improve accessibility for local businesses.
The rise of alternative mobility options, such as ride-hailing, car-sharing, bike-sharing, and micro-mobility services (e-scooters and e-bikes), is decreasing reliance on private vehicle ownership and lowering demand for traditional parking spaces. As a result, parking operators face declining utilization rates, making it harder to justify investments in smart parking systems. While these services promote urban sustainability, they restrain the parking management market and force operators to adapt to new mobility trends.
"Residential end-use segment is projected to register the highest CAGR during the forecast period"
The residential segment is expected to achieve the highest CAGR in the parking management market as rising urbanization and vertical housing trends push demand for secure, efficient, and technology-driven parking solutions within gated communities and apartment complexes. In India, large residential developers, such as DLF and Prestige Group, have begun deploying automated parking systems and app-based resident parking platforms to address space constraints and ensure seamless access control.
In Singapore, Housing and Development Board (HDB) estates adopted digital parking systems integrated with the Parking.sg app, enabling residents to pay digitally, extend sessions remotely, and avoid manual coupon systems. Similarly, in the United Arab Emirates, premium residential complexes in Dubai Marina and Downtown Dubai are increasingly using RFID-enabled gated entry systems combined with license plate recognition for automated resident access and visitor management. These solutions improve convenience, enhance security, and optimize the limited parking spaces available in dense residential areas.
Such developments are driving a clear shift in residential parking management, with a demand for automation, real-time monitoring, and integrated digital platforms expected to surge. As urban housing projects expand and residents seek smart mobility conveniences, the residential end-use segment is poised to emerge as the fastest-growing area of adoption during the forecast period.
"Off-street parking segment to hold the largest market share during forecast period"
The off-street parking segment is expected to contribute the largest market share in adopting parking management systems, as cities and private operators increasingly modernize garages, malls, and institutional facilities with advanced solutions. In the US, operators such as LAZ Parking and SP+ have integrated license plate recognition, digital payment systems, and real-time occupancy management in multi-level parking structures across New York, Chicago, and Los Angeles to enhance efficiency and user convenience. In Europe, major shopping centers and business districts in Paris and Berlin are deploying Skidata's automated revenue control and access systems, allowing seamless entry and exit through ticketless, contactless solutions.
Similarly, in Japan, Amano Corporation equipped large-scale commercial garages in Tokyo with automated parking guidance and integrated EV charging stations, improving space utilization and sustainability compliance. These developments highlight why off-street facilities dominate adoption. They provide controlled environments where integrated hardware and software platforms can deliver measurable efficiency gains, reduce congestion, and optimize revenue generation. With the growing demand for automation, digital payments, and sustainable infrastructure, off-street parking is set to drive the parking management market during the forecast period.
"Asia Pacific will register the highest growth rate, while North America is expected to contribute the largest market share during the forecast period"
Asia Pacific is projected to register the highest CAGR in the parking management market, mainly due to strong government initiatives and regulatory mandates across the region. Singapore is setting a benchmark through its Urban Redevelopment Authority's Parking Guidance System (PGS), which integrates real-time occupancy data, digital signage, and mobile app capabilities for public and commercial parking facilities, creating a model of operational transparency and user convenience. In China, Beijing and Shenzhen are deploying large-scale smart parking systems that incorporate IoT sensors, license plate recognition, and contactless payments as part of national smart city roadmaps, effectively addressing growing urban vehicle volumes.
Japan is fueling adoption by enforcing cashless payment requirements in parking facilities while simultaneously expanding EV-ready infrastructure, aligning its parking sector with broader sustainability goals. South Korea has made strides, particularly in Seoul, where government-led programs mandate e-payments and automated monitoring in public and private parking lots.
North America is expected to capture the largest share of the parking management market, driven by a wave of high-impact, tech-forward implementations across transit hubs and urban centers. Detroit Metropolitan Wayne County Airport is deploying Park Assist's camera-based smart sensor system across more than 18,000 parking spaces to slash search time by up to 63%, boosting convenience and throughput. EnSight Technologies is introducing an AI-powered parking guidance system at Norfolk International Airport, utilizing over 100 cameras to provide real-time occupancy data and digital signage for faster navigation of parking spaces.
At Los Angeles International Airport, ABM's ABMvantage platform has modernized the sprawling LAX Economy Parking facility with touchless entry, pre-booking, license-plate recognition, EV charging, and unified data dashboards. Additionally, the Miami Parking Authority partnered with ParkMobile to expand mobile parking payments across more than 20,000 spaces in the city, thereby enhancing customer convenience and reducing congestion with meter-based systems. These large-scale modernization efforts spanning software-enabled operations, automation, and EV integration demonstrate how strategic deployments in high-traffic venues are fueling North America's leadership in parking management innovation.
Breakdown of Primaries
The major players in the parking management market are Amano (Japan), SKIDATA (Austria), Group Indigo (France), Arrive (Sweden), TIBA Parking Systems (Israel), SWARCO (Austria), Chetu (US), INRIX (US), IPS Group (US), Precise ParkLink (Canada), Infocomm Group (Oman), Verra Mobility (US), Egis Group (France), Passport Labs (US), SpotHero (US), Get My Parking (India), Streetline (US), Cleverciti (Germany), Wayleadr (US), Urbiotica (Spain), CivicSmart (US), Parklio (Croatia), TCS International (US), Parkable (New Zealand), Parkalot (Poland), Parking Telecom (France), and Omnitec (Dubai). These players have adopted various growth strategies, such as partnerships, agreements & collaborations, new product launches, enhancements, and acquisitions, to expand their parking management footprint.
Research Coverage
The market study covers the parking management market size across different segments. It aims to estimate the market size and the growth potential across various segments, including offerings (solutions and services), parking sites, end use, and regions. The study includes an in-depth competitive analysis of the leading market players, their company profiles, key observations related to product and business offerings, recent developments, and market strategies.
Key Benefits of Buying the Report
The report will help market leaders and new entrants with information on the closest approximations of the global parking management market's revenue numbers and subsegments. It will also help stakeholders understand the competitive landscape and gain more insights to position their businesses and plan suitable go-to-market strategies. Moreover, the report will provide insights for stakeholders to understand the market's pulse and provide them with information on key market drivers, restraints, challenges, and opportunities.
The report provides insights into the pointers listed below.
1. Product Development/Innovation: Detailed insights on upcoming technologies, research and development activities, and new product and service launches in the parking management market
2. Market Development: Comprehensive information about lucrative markets - the report analyzes various regions' parking management market
3. Market Diversification: Exhaustive information about new products and services, untapped geographies, recent developments, and investments in the parking management market
4. Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players, such as Amano (Japan), SKIDATA (Austria), Group Indigo (France), Arrive (Sweden), TIBA Parking Systems (Israel), SWARCO (Austria), Chetu (US), INRIX (US), IPS Group (US), Precise ParkLink (Canada), Infocomm Group (Oman), Verra Mobility (US), Egis Group (France), Passport Labs (US), SpotHero (US), Get My Parking (India), Streetline (US), Cleverciti (Germany), Wayleadr (US), Urbiotica (Spain), CivicSmart (US), Parklio (Croatia), TCS International (US), Parkable (New Zealand), Parkalot (Poland), Parking Telecom (France), and Omnitec (Dubai)