A latest report from Absolute Markets Insights covers insights into the global Parking Management market. This comprehensive report offers insights into the market, models and drivers of business growth. Also includes Parking Management market share, sales volume and education charts. Research analysts have combined important and additional information, such as commitments from market leaders, into a well-crafted report. This report is an essential insight into strategies and information and is primarily aimed at business leaders. The main objective of this Parking Management report is to provide industry knowledge and help our clients achieve natural growth in their respective fields. The Parking Management report also shows a new uptrend that includes market conditions and market forecast 2022-2030.
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Some of the major players operating in the global Parking Management market include: Conduent, Inc., Amano, Indigo Park Services, Chetu Inc., Streetline, SWARCO, T2 SYSTEMS, INRIX, Flashparking, SAP, Siemens, APCOA PARKING amongst others.
Global parking management market was valued at US$ 3,355 million in 2022 and is expected to reach US$ 6,939.5 million by 2030, growing at an estimated CAGR of 8.5% over the forecast period.
The competitive landscape of the market study contains a broader analysis of the regions including North America, Europe, Asia-Pacific, Middle East and Africa, Latin America, which are expected to capture the essence of the market in its broadest category. The list encompasses significant players who manage the sector based on the system’s overall production capabilities, environmental contributions, appropriate channels, and territorial proximity through a system of primary and secondary research methodologies followed by an in-house analytical model. Furthermore, the generated income and a generalized market share for the market is presented with the help of graphs, charts and tables.
Furthermore, the report also contains important collaborations, mergers and acquisitions, key market trends and business policies are evaluated. The study contains primary and secondary information pertaining to the Parking Management Market in terms of its global status, market size, growth forecasts, trends, segments, and a detailed forecast.
Key insights from the report:
- The report provides key statistics on the market status of Parking Management Manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the industry.
- The report provides a basic overview of the industry, including its definition, applications and manufacturing technology.
- The report features the company profile, product specifications, capacity, production value and market share 2022-2030 for the top vendors.
- The total market is further divided by company, by country and by application/type for the analysis of the competitive landscape.
- The report then estimates the 2022-2030 market development trends of the P2P Loans industry.
- Analysis of upstream raw materials, downstream demand and current market dynamics is also performed.
- The report makes some important proposals for a new project of Parking Management Market before evaluating its feasibility.
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Covid-19 cumulative impact:
This study presents insights into COVID-19 on consumer behavior and changes in demand, purchasing patterns, supply chain reorganization, dynamics of market forces, and substantial government involvement. The new research provides insights, analysis, estimates and predictions in light of the effect of COVID-19 on markets. The Parking Management Market report provides a solid observation on the prominent players in terms of strategic analysis, micro and macro market trends and opportunities, pricing trends, and a generalized overview of the market. The Parking Management Market is a detailed study packed with primary and secondary market factors, market share, leading segments and a proper geographic analysis.
Key questions answered in this report:
- What will the market size and growth rate be in 2030?
- What are the key drivers of the global market?
- What are the key market trends impacting the growth of the global market?
- What are the market growth challenges?
- Who are the key vendors in the global market?
- What are the global market opportunities and challenges for sellers?
- What are the key findings of the global five-point analysis of the Parking Management market?
Traffic congestion is one of the main reasons that afflict urban areas. It not only emits greenhouse gas emissions but also is responsible for smog in big cities. Thus, with the emergence of smart parking solution which consists of nested technologies, in parking and roadway areas, the problem arising due to congestion are being put in place.
Parking is an integral component of any mode of transport. In most developed cities around the world, increasing car ownership and utilization, growing population, high land values in central business areas and inadequate parking supply have complicated the parking situation. Due to this, business owners and residential dwellers compete with shoppers and customers for available spaces, to park their vehicles at street locations wherein, on-street parking is free. Hence, parking management schemes that involve charges have become a major part of most pricing schemes in major urban locations. It has been analyzed that by managing the supply, design and price of parking spaces, cities can exert a high level of control over the traffic flows and quantities.
Remote parking is one of the strategies to efficiently manage the parking, where motorists, mainly commuters and residents, are encouraged to use off-site or fringe parking facilities (typically located few blocks from a commercial center), so the most convenient spaces are available for priority users, mainly customers and service vehicles. This also involves shared facilities, such as office workers parking at a restaurant parking during the day, in exchange for restaurant employees using the office parking space in evenings and weekends. Special shuttle buses can be provided to connect destinations with such remote parking facilities, allowing them to be farther apart. Another type of remote parking is, park & ride facilities that are often located at the urban fringe, where parking is free or significantly less expensive than in main urban centers. Also, remote parking involves providing enough information and incentives to attract motorists and vehicle owners to use more distant facilities.
The Parking Access and Revenue Control held the largest market share in 2018 and is expected to continue the same trend over the forecast period in parking management market. It is a real time computerized parking system credentialed as well as transient customers. This system helps the parking owners and operators to control the access and collect revenue from users.
North America is expected to hold the largest parking management market share over the next eight years owing to large scale investments in parking management solution systems to meet the rising need of drivers as well as commuter’s convenience. The ParkPlus System is an application of ‘pay-by-plate’ technology. The system has been duly developed by Calgary Parking Authority and is deployed in Calgary since 2007. It is an effective parking management solution for payment, enforcement and permits. The users of the same are commercial and municipal parking manager. The system provides enforcement and management of full range of parking modes, which includes on-street, contract parking, parking garage, surface lot, event parking, special permits and residential parking permits. Growing smart city technology solutions along with the urge to provide world-class citizen services has made the United States and Canada region a proper hub of parking management market.
Global Parking Management Market Segmentation:
Parking Management Market By Type (Solutions {Parking Guidance Solution, Parking Reservation Management, Parking Permit Management, Parking Enforcement Management, Parking Access And Revenue Control, Parking Security And Surveillance, Parking Analytics), Services {Professional Services, Managed Services}), By Deployment (On-Premise, Cloud-Based), By Parking Site (Off-Street Parking, On-Street Parking), By Verticals (Retail, Healthcare, Government, Hospitality, Transportation & Transit And Others), By Region (U.S., Canada, Mexico, Rest Of North America, France, UK, Germany, Spain, Italy, Nordic Countries, Benelux Union, Rest Of Europe, China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia, Rest Of Asia Pacific, Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest Of MEA, Brazil, Argentina, Rest Of Latin America) – Global Insights, Growth, Size, Comparative Analysis, Trends And Forecast, 2022 – 2030
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