In the parking industry, a parking management system is a technological solution that is designed to maximize the efficiency of car parks and minimize the costs associated with managing these facilities. These systems can be implemented by businesses of any size, ranging from small shops to large corporations. They can be used to improve the flow of traffic, reduce stress on motorists, and improve the experience of parkers.

A parking management solution can also provide the ability to create and manage a customer loyalty program. One can give customers the option of paying for their parking services in person or online. The software can integrate with several other software systems to ensure that payments are processed smoothly.

Market Dynamics:

With the increase in the number of vehicles on the road, the need to reduce the traffic congestion is expected to boost growth of global parking management the market over the forecast period. Governments are also investing in the development of smart cities. Hence, these governments are also expected to augment the market growth.

However, complexities system integration and high cost are expected to hinder growth of the global parking management market over the forecast period.

Key features of the study:

• This report provides in-depth analysis of the global parking management market, and provides market size (US$ Million) and compound annual growth rate (CAGR%) for the forecast period (2023–2030), considering 2022 as the base year
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends,  regional outlook, and competitive strategies adopted by key players
• It profiles key players in the global parking management market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
• Key companies covered as a part of this study include Siemens AG, DELOPT, Parkmobile USA Inc., Bond Traffic Solutions, Q-Free ASA, FlashParking, SAP SE, TIBA Parking, Amano McGann, Infocomm Group LLC, Nex Valet LLC, and Passport Inc.
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
• The global parking management market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global parking management market

Detailed Segmentation:

• Global Parking Management Market, By Deployment Type
  • On-premise
  • Cloud-based
• Global Parking Management Market, By Parking Site
  • Off-street
  • On-street
• Global Parking Management Market, By Offering Type
  • Solution
  • Service
• Global Parking Management Market, By Geography
  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East & Africa
• Company Profiles
  • DELOPT
  • Bond Traffic Solutions
  • FlashParking
  • TIBA Parking
  • Infocomm Group LLC
  • Passport Inc.
  • Nex Valet LLC
  • Amano McGann
  • SAP SE
  • Q-Free ASA
  • Parkmobile USA Inc.
  • Siemens AG