PARKING MANAGEMENT MARKET ANALYSIS

Regional Analysis

Global Parking Management Market: Regional Insights

The global parking management market is geographically divided into North America, Latin America, Europe, Asia Pacific, and Middle East and Africa.

Among regions, North America is expected to gain dominating share in the global parking management market over the forecast period. Countries across the region such as the U.S. and Canada are witnessing growing number of vehicles on the road. The use and sales of passenger vehicles as well as commercial vehicles increasing in these countries. Along with all these factors, the lack of parking space in the region is creating huge demand for parking management. It has been playing an important role in maintaining the congestion-free cities and harmony across the region. These factors are in turn expected to drive growth of the market in the region.

Furthermore, Asia Pacific is also projected to show strong growth in the global parking management market over the forecast period. This growth can be attributed to growing implementation of various parking management strategies by companies and city municipalities in the countries such as China for making efficient and smooth parking systems. For instance, in February 2020, government of a Chinese city, Yangzhog launched Hungarian smart parking system by EPS Global, the first one in the country to receive benefits of the technology, which helps drivers find available parking space with the use of smartphones. Moreover, growing parking issues in countries such as South Korea are also expected to drive growth of the market in the region.

• North America: U.S. and Canada
• Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
• Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
• Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
• Middle East: GCC Countries, Israel, and Rest of Middle East
• Africa: South Africa, North Africa, and Central Africa