Parking Management Market - Global Forecast to 2023
DUBLIN, June 7, 2018 /PRNewswire/ --
The "Parking Management Market by Solution (Parking Guidance, Reservation Management, Permit, Enforcement, PARC, Security & Surveillance, Analytics), Service, Deployment Type, Parking Site (Off-Street and On-Street), and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The parking management market size is expected to grow from USD 3.39 Billion in 2018 to USD 5.15 Billion by 2023, at a Compound Annual Growth Rate (CAGR) of 8.7% during the forecast period.
The major driver for the market is expected to be the growing focus on seamless traffic flow and reduction in fuel consumption and increasing motor vehicle sales. The major restraining factor for the growth of the market could be the complexity in system integration.The scope of the report covers the parking management market analysis by type (solutions and services), deployment type, parking site, and region.
The parking access and revenue control solution is expected to account for the largest market share during the forecast period. This solution helps parking operators to manage in and out of vehicles in parking facilities and also empower them to take full control over the parking revenue. The parking guidance solution is expected to grow at the highest CAGR during the forecast period because of rapid deployment of the solution by city authorities. The solution helps save time and fuel by showing the real-time parking availability to drivers.
The professional services segment is expected to hold a larger market size during the forecast period, owing to the growing need for parking management consulting for designing and deployment of solutions, and continuous support and maintenance activities for continuous and seamless working of parking management solutions. Professional services include planning, designing, consulting services, support services, IT maintenance, repairs, and upgrades.
The cloud deployment type is expected to record a higher growth rate during the forecast period. The cloud-based solutions are cost effective and easily scalable as per business requirements. These advantages encourage companies to adopt cloud-based parking management solutions. Cloud-based solutions facilitate organizations with scalability and the ease of accessibility of organizational content, regardless of employees' location, thereby helping with business continuity. Cloud-based solutions are widely adopted in the developing countries.
The off-street parking is expected to hold a larger market size during the forecast period, owing to huge investments made by authorities in multi-level parking, and by the private sector in its parking facilities. The off-street parking involves proper designing and construction to provide a safe and secure vehicle parking experience for drivers. Moreover, it focuses on ensuring security, pre-booking of parking spots, and parking fee management. All the modern public infrastructure are coming with advanced off-street parking facilities.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Market Opportunities in the Parking Management Market
4.2 Market By Type, 2018-2023
4.3 Market By Solution, 2018-2023
4.4 Market By Service, 2018-2023
4.5 Market By Parking Site, 2018-2023
4.6 Market By Deployment Type, 2018-2023
4.7 Market Investment Scenario
5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growing Focus on Seamless Traffic Flow and Reduction in Fuel Consumption
5.2.1.2 Adoption of Cloud Computing and IoT Technologies
5.2.1.3 Increasing Motor Vehicle Sales Driving the Demand for Parking Spaces
5.2.1.4 Proliferation of Mobile and Smartphones
5.2.2 Restraints
5.2.2.1 Complexity in System Integration
5.2.3 Opportunities
5.2.3.1 Increasing Adoption of Smart Cities By Governments Across Regions
5.2.3.2 Optimum Utilization of Parking Spaces
5.2.3.3 Technological Advancements in Autonomous Cars
5.2.4 Challenges
5.2.4.1 High Implementation Costs
5.2.4.2 Rapid Changes in Technologies
5.3 Use Cases
6 Parking Management Market, By Type
6.1 Introduction
6.2 Solutions
6.2.1 Parking Guidance Solution
6.2.2 Parking Reservation Management
6.2.3 Parking Permit Management
6.2.4 Parking Enforcement Management
6.2.5 Parking Access and Revenue Control
6.2.6 Parking Security and Surveillance
6.2.7 Parking Analytics
6.3 Services
6.3.1 Professional Services
6.3.1.1 Consulting
6.3.1.2 System Integration and Deployment
6.3.1.3 Support and Maintenance
6.3.2 Managed Services
7 Parking Management Market, By Parking Site
7.1 Introduction
7.2 Off-Street Parking
7.3 On-Street Parking
8 Market By Deployment Type
8.1 Introduction
8.2 On-Premises
8.3 Cloud
9 Parking Management Market, By Region
9.1 Introduction
9.2 North America
9.3 Europe
9.4 Asia Pacific
9.5 Latin America
9.6 Middle East and Africa
10 Competitive Landscape
10.1 Overview
10.2 Market Ranking Analysis
10.3 Competitive Scenario
10.3.1 New Product Launches
10.3.2 Business Expansions
10.3.3 Mergers and Acquisitions
10.3.4 Agreements and Partnerships
11 Company Profiles
11.1 Conduent
11.2 Indigo Park Services
11.3 Amano
11.4 Swarco
11.5 Q-Free
11.6 Streetline (A Kapsch Company)
11.7 T2 Systems
11.8 Skidata
11.9 Flowbird Group
11.10 Inrix
11.11 Flashparking
11.12 Chetu
11.13 Parkmobile
11.14 Passport Inc.
11.15 Spothero
11.16 Tiba Parking
11.17 Urbiotica
11.18 Smart Parking
11.19 SAP
11.20 Siemens
11.21 Key Innovators
11.21.1 Apcoa Parking
11.21.2 Bosch Mobility
11.21.3 Get My Parking
11.21.4 Nester
11.21.5 Nupark
For more information about this report visit https://www.researchandmarkets.com/research/4hxd8t/parking?w=5
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