PUBLISHER: The Business Research Company | PRODUCT CODE: 1163953
PUBLISHER: The Business Research Company | PRODUCT CODE: 1163953
“Parking Management Solutions Global Market Report 2022: Ukraine-Russia War Impact ” from The Business Research Company provides the strategists, marketers and senior management with the critical information they need to assess the global parking management solutions market.
This report focuses on parking management solutions market which is experiencing strong growth. The report gives a guide to the parking management solutions market which will be shaping and changing our lives over the next ten years and beyond, including the markets response to the challenge of the global pandemic.
Where is the largest and fastest growing market for the parking management solutions? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The Parking Management Solutions market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider parking management solutions market, and compares it with other markets.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.
Major players in the parking management solutions market are: Amano Corporation, Bosch Group, Siemens AG, Skidata GmbH, Swarco Corporation, T2 Systems, Flowbird Group, TIBA PARKING SYSTEMS, IPS Group, Chetu, Conduent Inc., Q-Free ASA, FlashParking, ParkMobile, SpotHero, Get My Parking, INRIX Inc., Skyline Parking AG, Unitronics (1989) (RG) Ltd., Cleverciti Systems GmbH, DELOPT, Bond Traffic Solutions, FlashParking Inc., Infocomm Group LLC, and ParkMobile Inc.
The global parking management solutions market is expected to grow from $3.30 billion in 2021 to $3.71 billion in 2022 at a compound annual growth rate (CAGR) of 12.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The parking management solutions market is expected to reach $5.50 billion in 2026 at a CAGR of 10.3%.
The parking management solutions market consists of the sale of parking management solutions and services by entities (organizations, sole traders, and partnerships) that are used by individuals or organizations to manage their parking systems. Parking management solutions refer to innovative technologies that provide solutions to manage parking. The parking management system has various features such as digitization of payments, enforcement processes, access control, and others.
The main types of parking management solutions are services and solutions. The different solutions include access control, security and surveillance, revenue management, parking reservation management, valet parking management, and others. Access control solutions refer to control systems that prevent unauthorized individuals from entering a parking lot. Access control is a parking management solution that is used for securing high-security venues and commercial offices. The two types of parking sites are on-site parking and off-site parking that uses technologies such as parking meters and parking kiosks. It is used in transport, commercial and government applications.
North America was the largest region in the parking management solutions market in 2021. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the parking management solutions market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Cloud-native parking management solutions are expected to propel the growth of the parking management solutions market going forward. Cloud-native technology is a way of designing, building, and running workloads in the cloud that reaps the benefits of the cloud computing model. Cloud-native technology in parking management solutions will help the parking management solutions market to provide better service for their customers. For instance, according to Tigera, a US-based cloud-native application protection company, in 2022, 75% of companies are putting their focus on using and developing cloud-native applications. Also, according to another report by the Cloud-Native Computing Foundation, a US-based open-source software foundation, in 2020 there were approximately 6.5 million cloud-native developers in the world, which was 1.8 million more developers than in 2019. Therefore, cloud-native parking solutions are driving the growth of parking management solutions.
Technological advancements are a key trend in the parking management solutions market. Major companies operating in the parking management solutions sector are using new technologies such as automated valet parking robots, robot car parks, car parking lifts, and others to sustain their position in the market. For instance, in March 2020, Q-Free, a Norway-based tolling, parking, and traffic management company, announced the deployment of its new parking guidance system. This system uses ultrasonic directional sensors and USDS parking sensors to check the availability of space and reduce installation costs. This system will allow the city to post parking information through an app or website to help drivers find the perfect parking spot.
In May 2020, APCOA PARKING, a Germany-based parking operations and management company, entered into a strategic partnership with HERE Technologies for an undisclosed amount. This partnership enables APCOA to help pursue business opportunities and build a parking solution for car makers, mobility service providers, and smart cities. HERE Technologies is a Dutch-based company that deals with mapping, location, and other automotive services.
The countries covered in the parking management solutions market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The parking management solutions market research report is one of a series of new reports from The Business Research Company that provides parking management solutions market statistics, including global market size, regional shares, competitors with a parking management solutions market share, detailed parking management solutions market segments, market trends and opportunities, and any further data you may need to thrive in the parking management solutions industry. This parking management solutions market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.