Parking Management Solution Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2016–2024

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Report Code: ZMR-1832 | Report Format : | Status : Upcoming |

Abstract

Global Parking Management Solution Market: Overview

A set of hardware that is designed and developed in order to manage and maintain the availability of the parking areas is known as parking management solution. It consists of LED light indicators, monochrome displays, RFID tags, solar panel/battery sensors, centralized data management system, and automated payment systems. Advanced parking management systems provide the drivers high-level convenience as most of the functions have been simplified and automated.

Global Parking Management Solution Market: Growth Factors

Globally, there has been a quick rise in the number of vehicles which has intensified the issue related to the shortage of parking space. Traffic jamming and other transportation-related issues occur owing to lack of space for parking the vehicles. Therefore, the requirement of smart and efficient parking system is growing. Highly developed parking management systems are efficient enough to offer a high level of ease to the drivers as it simplifies and automates the business operations and other various functions at the parking place. Demand and popularity for trouble-free traffic flow is the most important driving aspect for the adoption of the global parking management solutions across the big cities. In addition to this, parking management system reduces connectivity and hardware costs and it also offers different advantages in terms of returns to the parking site owners. Therefore, all these factors are driving the parking management solution market. The benefits of using the system are smooth traffic flow and revenue generation which positively contributes to the global parking management solution market. Parking management solutions hold massive opportunity for the key players in this market in provincial economies and smart cities across the world. The demand and popularity for parking management solution market is projected to grow in the coming future owing to quick rise in automobile practice and growing adoption for smart city schemes across the world.

Global Parking Management Solution Market: Segmentation

The global parking management solution market is classified based on type and installed location. Based on type, the market is categorized into parking kiosks (parking meter multi-space) type and parking meters (parking meter - single-space). Based on installed location, the global parking management solution market is bifurcated into parking venues and street parking.

Global Parking Management Solution Market: Regional Analysis

Based on geographical regions, the global parking management solution market is anticipated to be dominated by North America, with the U.S. being the base region to a large group of key players in the market. It is expected that use of highly developed parking kiosks will be one of the major trends which will be witnessed in the parking zones across Europe. These kiosks are likely to help the municipalities as well as the private garage owners to keep a track of each contravention in parking and give a solid comparison against the real issued citations. The parking management solution market is expected to grow in Asia Pacific at a rapid pace.

Global Parking Management Solution Market: Competitive Players

Some of the most important companies in the global parking management solution market are Parking BOXX, Parkeon S.A.S., Cale Access AB (Cale Group AB), METRIC Group Ltd., IPS Group, Inc., Worldwide Parking, Inc., Ventek International, CivicSmart, Inc., LocoMobi Inc., POM Inc., and J.J. MacKay Canada Limited, among others.

Global Parking Management Solution Market: Regional Segment Analysis

  • North America
    • U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • The Middle East and Africa

What Report Provides

  • Full in-depth analysis of the parent market
  • Important changes in market dynamics
  • Segmentation details of the market
  • Former, on-going, and projected market analysis in terms of volume and value
  • Assessment of niche industry developments
  • Market share analysis
  • Key strategies of major players
  • Emerging segments and regional markets
  • Testimonials to companies in order to fortify their foothold in the market.

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