Parking Management Market By Type (Solutions, Services, Consulting, System Integration & Deployment, and Support & Maintenance), By Application (Off-street Parking and On-street Parking), Industry Trends, Estimation & Forecast, 2023-2030

Market Overview

Parking management systems have been designed to assist drivers in finding empty parking spaces on their mobile devices in high footfall areas. The parking solutions help avoid congestion, manage parking payment methods, and also assist authorities in tracking parking violations. The parking management tools help a building run its parking area effectively and efficiently.

Parking Management market was valued at 4.7 billion US$ in 2022 and is projected to reach 11.3 billion US$ by 2030, at a CAGR of 11.5% during the forecast period.

Market Dynamics

The rising instances of traffic congestion with an increase in vehicles and a gradual shift from conventional parking systems for customer convenience are the primary factors driving the market growth. The deployment of parking management solutions in high traffic areas such as shopping centres and housing complexes have been effective in eliminating congestion and improving efficiency in the overall handling of the parking areas, with increased convenience for users and authorities. The additional economic benefits in the form of lower fuel consumption and strict security measures such as close monitoring of parking violations would further propel the growth prospects of the market. However, high costs of complex system incorporation might hamper the market growth. The complexities in the use of systems and issues of maintenance in the event of glitches would require further expenditure. The shift from traditional methods to real-time monitoring systems that actively relay information to the driver’s mobile devices would also require substantially high capital investment upfront, hampering the market growth. The growing adoption of smart parking management projects in emerging countries would provide lucrative opportunities for the market in the coming years. The continued increase in the number of vehicles in the region and the need to avoid congestion in high-rise building complexes would generate high demand for the incorporation of parking management solutions in such countries over the forecast period.
 
Market Segmentation

The global Parking Management market is mainly classified based on Type and Application. Type is further segmented into Solutions, Services, Consulting, System Integration & Deployment, and Support & Maintenance. By Application, the market is divided into Off-street Parking and On-street Parking.

The Solutions segment by Type holds a considerable share in terms of overall market value owing to the rapid development and adoption of the software solutions in high-rise building complexes with high traffic incidence. The continued technological advancement in the further development of solution features would also generate renewed consumer interest and propel the growth of the segment during the forecast period.

The increased efforts towards driver convenience seeking out empty parking spots in buildings and ease in management of the incoming traffic and payment modes for building authorities would ensure continued demand for systems incorporation, fueling the segment growth.

Regional Analysis

Based on geography, the global Parking Management market is divided into North America, Europe, Asia-Pacific, South America, and Middle East & Africa. North America is further divided in the U.S., Canada, and Mexico, whereas Europe consists of the UK, Germany, France, Italy, and Rest of Europe. Asia-Pacific is segmented into India, China, Japan, South Korea, and Rest of Asia-Pacific. The South America region includes Brazil, Argentina, and the Rest of South America, while the Middle East & Africa is categorized into GCC Countries, Egypt, South Africa, and Rest of Middle East & Africa.

The countries in Asia-Pacific are turning towards the advanced parking management solutions in a bid to overcome issues of traffic congestion during peak hours, ease in the collection of parking revenue, and better tracking of parking violations in confined spaces.

The region of North America is also one of the prominent areas in terms of overall market value owing to the persistent deployment of cloud-based parking management solutions in place of traditional systems and increased user interest for the adoption of smart solutions that eliminate traffic congestion.
 
Competitive landscape

The Parking Management market is relatively fragmented, with several global and regional players competing in the existing market scenario to expand business opportunities through the development of high-tech parking solutions in a cost-friendly manner. The regional companies offer the facilities of on-hand service teams for quick system maintenance catering to local customers and are thereby intensifying market competitiveness.

Key players operating in the Parking Management industry include Conduent, Amano, Chetu, SWARCO, T2 Systems, SKIDATA, INRIX, Parkmobile, SpotHero, TIBA Parking, Urbiotica, Siemens, APCOA, and Bosch Mobility Solutions.

The expansion of global business reach through acquisitions, and strategic collaborations and continued development of software capabilities for the new launch of commercial solutions are the primarily followed business strategies of top players looking to capture substantial market share.

Parking Management Market Key Segments

By Type
• Solutions
• Services
• Consulting
• System Integration & Deployment
• Support & Maintenance

By Application
• Off-street Parking
• On-street Parking

Key Global Parking Management Industry Players

• Conduent
• Amano
• Chetu
• SWARCO
• T2 Systems
• SKIDATA
• INRIX
• Parkmobile
• SpotHero
• TIBA Parking
• Urbiotica
• Siemens
• APCOA
• Bosch Mobility Solutions

Table of Content

1. Market Introduction
1.1. Executive Summary
1.2. Market Definition
1.3. Market Scope

2. Research Methodology
2.1. Primary Research
2.2. Research Methodology
2.3. Assumptions & Exclusions
2.4. Secondary data sources

3. Parking Management Market Overview
3.1. Report Segmentation & Scope
3.2. Key Market Trend
3.3. Drivers
3.3.1. Rising instances of traffic congestion with increase in vehicles
3.3.2. Gradual shift from conventional parking systems for customer convenience
3.4. Restraints
3.4.1. High costs of complex system incorporation
3.5. Opportunity
3.5.1. Growing adoption of smart parking management projects in emerging countries
3.6. Porter’s Five Forces Analysis
3.6.1. Porter’s Five Forces Analysis
3.7. Market Share Analysis

4. Type Overview
4.1. Introduction
4.1.1. Market Size & Forecast
4.2. Solutions
4.2.1. Market Size & Forecast
4.3. Services
4.3.1. Market Size & Forecast
4.4. Consulting
4.4.1. Market Size & Forecast
4.5. System Integration & Deployment
4.5.1. Market Size & Forecast
4.6. Support & Maintenance
4.6.1. Market Size & Forecast

5. Application Overview
5.1. Introduction
5.1.1. Market Size & Forecast
5.2. Off-street Parking
5.2.1. Market Size & Forecast
5.3. On-street Parking
5.3.1. Market Size & Forecast

6. Parking Management Market Regional Overview
6.1. Introduction
6.1.1. Market Size & Forecast
6.2. North America Parking Management Market
6.2.1. North America Market Size & Forecast, By Country
6.2.2. North America Market Size & Forecast, By Type
6.2.3. North America Market Size & Forecast, By Application
6.2.4. U.S.
6.2.4.1. Market Size and Forecast
6.2.5. Canada
6.2.5.1. Market Size and Forecast
6.2.6. Mexico
6.2.6.1. Market Size and Forecast
6.3. Europe Parking Management Market
6.3.1. Europe Market Size & Forecast, By Country
6.3.2. Europe Market Size & Forecast, By Type
6.3.3. Europe Market Size & Forecast, By Application
6.3.4. Germany
6.3.4.1. Market Size and Forecast
6.3.5. France
6.3.5.1. Market Size and Forecast
6.3.6. UK
6.3.6.1. Market Size and Forecast
6.3.7. Italy
6.3.7.1. Market Size and Forecast
6.3.8. Rest of Europe
6.3.8.1. Market Size and Forecast
6.4. Asia-Pacific Parking Management Market
6.4.1. Asia-Pacific Market Size & Forecast, By Country
6.4.2. Asia-Pacific Market Size & Forecast, By Type
6.4.3. Asia-Pacific Market Size & Forecast, By Application
6.4.4. Japan
6.4.4.1. Market Size and Forecast
6.4.5. China
6.4.5.1. Market Size and Forecast
6.4.6. Australia
6.4.6.1. Market Size and Forecast
6.4.7. India
6.4.7.1. Market Size and Forecast
6.4.8. South Korea
6.4.8.1. Market Size and Forecast
6.4.9. Rest of Asia-Pacific
6.4.9.1. Market Size and Forecast
6.5. South America Parking Management Market
6.5.1. South America Market Size & Forecast, By Country
6.5.2. South America Market Size & Forecast, By Type
6.5.3. South America Market Size & Forecast, By Application
6.5.4. Brazil
6.5.4.1. Market Size and Forecast
6.5.5. Argentina
6.5.5.1. Market Size and Forecast
6.5.6. Rest of South America
6.5.6.1. Market Size and Forecast
6.6. Middle East & Africa Parking Management Market
6.6.1. Middle East & Africa Market Size & Forecast, By Country
6.6.2. Middle East & Africa Market Size & Forecast, By Type
6.6.3. Middle East & Africa Market Size & Forecast, By Application
6.6.4. GCC Countries
6.6.4.1. Market Size and Forecast
6.6.5. Egypt
6.6.5.1. Market Size and Forecast
6.6.6. South Africa
6.6.6.1. Market Size and Forecast
6.6.7. Rest of Middle East & Africa
6.6.7.1. Market Size and Forecast

7. Company Profile
7.1. Conduent
7.1.1. Company Basic Information, Manufacturing Base, Sales Area and Its Competitors
7.1.2. Conduent Product Category, Application, and Specification
7.1.3. Conduent Financial Performance (2016-2018)
7.1.4. Main Business/Business Overview
7.2. Amano
7.3. Chetu
7.4. SWARCO
7.5. T2 Systems
7.6. SKIDATA
7.7. INRIX
7.8. Parkmobile
7.9. SpotHero
7.10. TIBA Parking
7.11. Urbiotica
7.12. Siemens
7.13. APCOA
7.14. Bosch Mobility Solutions