Parking Management Market: 3-Key Growth Scenarios

Parking Management Market Latest Edition Published with Forecast to 2027


The article cited AMA's "Global Parking Management Market Study" explored CAGR of 8.0%. According to the report, The Need for Parking Apps is one of the primary growth factors for the market. Growing Focus on Seamless Traffic Flow and Reduction in Fuel Consumption is also expected to contribute significantly to the Parking Management market. Overall, applications of Parking Management, and the growing awareness of them, is what makes this segment of the industry important to its overall growth. The Deployment Mode, such as On-Premises, is boosting the Parking Management market. Additionally, the rising demand from SMEs and various industry verticals, macro-economic growth are the prime factors driving the growth of the market.The Parking Site, such as Off-Street Parking, is boosting the Parking Management market. Additionally, the rising demand from SMEs and various industry verticals, macro-economic growth are the prime factors driving the growth of the market.

AMA’s Analyst on the Global Parking Management market identified that the demand is rising in many different parts of the world as "Increasing Adoption of Smart Cities by Governments across Regions ". Furthermore, some recent industry insights like "On 13 Dec. 2018, T2 Systems, the largest parking technology provider in North America, has introduced T2 Logan, its next generation of PARCS hardware. It is designed specifically for all gated parking solutions in vertical markets such as universities, municipalities, healthcare, property management, and airports. and On 23 Oct 2018, SpotHero, North America’s leading parking reservation platform, and FlashParking, an innovative parking technology company, has announced a pilot program to enable drivers in Austin, TX who purchase parking with SpotHero to enter garages equipped with FlashParking's FlashPARCS Smart Stations using the SpotHero app—a process the companies have coined “one-tap redemption.” With this technology, there’s no longer a need for drivers to roll down their car windows to redeem their parking reservation before entering parking garages." is constantly making the industry dynamic.

The report provides an in-depth analysis and forecast about the industry covering the following key features:
o Industry outlook including current and future market trends, drivers, restraints, and emerging technologies
o Analyses the Global Parking Management market according to Type, Application, and regions
o Analyzes the top 10 players in terms of market reach, business strategy, and business focus
o Provides stakeholders’ insights and key drivers & trends of the market

Market Size Estimation
In market engineering method, both top-down and bottom-up approaches have been used, along with various data triangulation process, to predict and validate the market size of the Parking Management market and other related sub-markets covered in the study.

o Key & emerging players in the market have been observed through secondary research.
o The industry’s supply chain and overall market size, in terms of value, have been derived through primary and secondary research processes.
o All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

Check more with in-depth analysis and forecast of Parking Management market study, Click here

Data Triangulation
The overall market size is calculated using market estimation process, the market was further split into various segments and sub-segments. To complete the overall market engineering and arriving at the exact statistics for all segments and sub-segments, the market breakdown and data triangulation procedures have been utilized, wherever applicable. The data have been triangulated by studying various influencing factors and trends identified from both demand and supply sides of various applications involved in the study. Along with this, the market size has been validated using both top-down and bottom-up approaches.

Praveen Kumar

Head & Director of Sales