PUBLISHER: The Business Research Company | PRODUCT CODE: 1840323
PUBLISHER: The Business Research Company | PRODUCT CODE: 1840323
Parking management solutions encompass innovative technologies designed to effectively manage parking. These systems incorporate features such as digitized payment processes, enforcement mechanisms, access control, and more. Individuals and organizations utilize parking management solutions to efficiently oversee their parking facilities.
The primary types of parking management solutions include services and solutions. Different solutions within this domain include access control, security and surveillance, revenue management, parking reservation management, valet parking management, and others. Access control solutions are designed to prevent unauthorized individuals from entering parking lots, offering security for high-risk venues and commercial offices. Parking sites can be categorized as on-site parking and off-site parking, each utilizing technologies such as parking meters and parking kiosks. Parking management solutions find applications in transport, commercial, and government sectors.
Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report's Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.
The sharp rise in U.S. tariffs and the ensuing trade tensions in spring 2025 are having a significant impact on the information technology sector, especially in hardware manufacturing, data infrastructure, and software deployment. Increased duties on imported semiconductors, circuit boards, and networking equipment have driven up production and operating costs for tech companies, cloud service providers, and data centers. Firms that depend on globally sourced components for laptops, servers, and consumer electronics are grappling with extended lead times and mounting pricing pressures. At the same time, tariffs on specialized software and retaliatory actions by key international markets have disrupted global IT supply chains and dampened foreign demand for U.S.-made technologies. In response, the sector is ramping up investments in domestic chip production, broadening its supplier network, and leveraging AI-powered automation to improve resilience and manage costs more effectively.
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.
The parking management solutions market size has grown strongly in recent years. It will grow from $4.14 billion in 2024 to $4.4 billion in 2025 at a compound annual growth rate (CAGR) of 6.2%. The growth in the historic period can be attributed to urbanization and population growth, rising number of vehicles, environmental concerns and sustainable urban planning, government initiatives and regulations.
The parking management solutions market size is expected to see rapid growth in the next few years. It will grow to $6.47 billion in 2029 at a compound annual growth rate (CAGR) of 10.1%. The growth in the forecast period can be attributed to integration with smart city initiatives, mobile payment and contactless solutions, real-time data analytics, electric vehicle (EV) charging integration, autonomous vehicle integration, focus on user experience. Major trends in the forecast period include smart city initiatives, IoT and sensor technologies, mobile applications and payment systems, contactless and touchless solutions.
The forecast of 10.1% growth over the next five years reflects a modest reduction of 0.8% from the previous estimate for this market. This reduction is primarily due to the impact of tariffs between the US and other countries. With tariffs increasing prices of control systems and foreign-manufactured parking kiosks, municipal and private operators may face delays in upgrading to automated parking systems. The effect will also be felt more widely due to reciprocal tariffs and the negative effect on the global economy and trade due to increased trade tensions and restrictions.
The anticipated growth of cloud-native parking management solutions is poised to drive the expansion of the parking management solutions market. Cloud-native technology, a framework for developing and operating workloads in the cloud, offers enhanced benefits derived from the cloud computing model. The integration of cloud-native technology into parking management solutions is expected to enhance customer service. As reported by Tigera, a US-based cloud-native application protection company, a significant 75% of companies are focusing on developing and utilizing cloud-native applications in 2022. Another report from the Cloud Native Computing Foundation, a US-based computer software company, published in May 2022, indicates a global increase of one million cloud-native developers in 2021, bringing the total to an estimated 7. 1 million worldwide. Thus, the adoption of cloud-native parking solutions emerges as a driving force behind the growth of the parking management solutions market.
The escalating issue of traffic congestion is projected to contribute to the growth of the parking management solutions market. Traffic congestion, characterized by long queues, reduced speeds, and extended travel times, necessitates effective parking solutions to mitigate congestion-related challenges, enhance user experiences, and support sustainability initiatives. A report published by Government Technology, a US-based information technology magazine, revealed that in 2022, drivers collectively spent almost 4. 8 billion hours stuck in traffic. The average American driver incurred a loss of $869 in 2022 due to traffic delays, marking an increase from $305 in 2021. Therefore, the mounting traffic congestion serves as a catalyst for the expansion of the parking management solution market.
Leading companies in the parking management solutions market are investing in advanced technologies, such as cloud-based parking management solutions, to cater to broader customer bases, increase sales, and boost revenue. Cloud-based parking management solutions leverage cloud computing technology to equip parking facility operators with tools for efficient management and monitoring. Adaptive Recognition, a Hungary-based software company, introduced Carmen Cloud ANPR in October 2023, offering a unique cloud-based solution characterized by flexibility and remote accessibility for parking operators.
Major companies in the parking management solutions market are creating innovative options, such as contactless parking management, to cater to a larger customer base. Contactless parking management enables users to access and pay for parking without any physical contact or interaction. For example, in February 2023, Parqour, a parking management software company based in the U.S., introduced its All-in-One parking management solution. This advanced platform is designed to provide a seamless experience for users by incorporating various features that streamline parking operations. The solution enhances user convenience and boosts overall efficiency in managing parking spaces.
In October 2023, Parking Management Company, a U.S.-based national parking services provider, acquired ParkPoolr for an undisclosed amount. This acquisition aligns with PMC's growth strategy, intending to utilize ParkPoolr's capabilities to enhance service for a wider clientele. ParkPoolr is a U.S.-based software company that offers booking and payment solutions for parking.
Major companies operating in the parking management solutions market include Amano Corporation, Bosch Group, Siemens AG, Skidata GmbH, Swarco Corporation, T2 Systems, Flowbird Group, TIBA Parking Systems, IPS Group, Chetu Inc., Conduent Inc., Q-Free ASA, FlashParking Inc, ParkMobile Inc, SpotHero, Get My Parking, INRIX Inc., Skyline Parking AG, Unitronics, Cleverciti Systems GmbH, Bond Traffic Solutions, Infocomm Group LLC, International Business Machines Corporation (IBM), Robotic Parking Systems Inc., Xerox Corporation, Streetline, Pavemint
North America was the largest region in the parking management solutions market in 2024. 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, Africa
The countries covered in the parking management solutions market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.
The parking management solutions market consists of revenues earned by entities by providing parking guidance solution, parking permit management and parking analytics. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Parking Management Solutions Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on parking management solutions market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for 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, including technological disruption, regulatory shifts, and changing consumer preferences? 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.
The forecasts are made after considering the major factors currently impacting the market. These include the technological advancements such as AI and automation, Russia-Ukraine war, trade tariffs (government-imposed import/export duties), elevated inflation and interest rates.