Off-Street Parking Management System Market Scope
Parking that is connected with a specific building or land use parking for a retail mall or office building is known as private or public off-street parking. In theory, only those associated with that structure or land use should be able to park there, and the landowner or regional authority has control over this (within legal constraints in the member-state concerned). Entrance and exit ticket machines, a barrier, a manual or automatic payment station, a management console, and servers are all part of a conventional parking management system. Integrated Plate Recognition (LPR) solutions can be used to assist the system if needed. Park Management System, Park Routing, Variable Message Signs, Financial, Reporting, and Intelligent Business Systems are some of the services provided by Park Management Systems.
The Off-Street Parking Management System market study is segmented, by Application (Access Control, Parking Fee & Revenue Management Airports, Parking Reservation Management, Valet Parking Management, Parking Guidance & Slot Management and Others) and major geographies with country level break-up.
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Off-Street Parking Management System market throughout the predicted period.
Nortech Control Systems Limited (United Kingdom), 3M Co. (United States), Swarco AG (Austria), Cubic Corporation (United States), Amano Corporation (Japan), Kudelski Group (SKIDATA AG) (Switzerland), TIBA Parking LLC (United States), IBM Corporation (United States), Kapsch TrafficCom AG (Austria) and Xerox Corporation (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Parking Telecom Labs. (Bulgaria), AMCO S.A. (Greece), Metro Infrasys Pvt. Ltd. (India), Solari di Udine SpA (Italy) and Infocomm Group LLC (United Arab Emarites).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Segmentation Overview
AMA Research has segmented the market of Global Off-Street Parking Management System market by Type, Application and Region.
On the basis of geography, the market of Off-Street Parking Management System has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Leaders and their expansionary development strategies
On 14th October, 2019 - Continental and 3M Entered into Parentship Agreement to Develop Intelligent infrastructure-to-vehicle (I2V) Interfaces for Safer Roadways. The Alliance Aims to Enhance Overall Road Infrastructure Technologies by Integrating the Expertise from Both Firms.
On 27th March, 2018 – TIBA Launched its New Access Control and Parking System called “ParkBlue”. ParkBlue is a Parking Garage Management Service That Offers Cloud-Based Management, Frictionless Physical Access to Parking Garages on Any PARCS System, And A Mobile Application.
Market Trend
- High Government Expenditure in Public Welfare
Market Drivers
- Increasing Vehicle Sales Globally
- Demand for Efficient & Automated Vehicle Management Systems
Opportunities
- Integration with Advance Technologies Including AI
Restraints
- Technological Limitations
- High-Cost Expenses
Challenges
- Fierce Competitive Pressure
- High Initial Investment
Key Target Audience
Parking Management System Manufactures, New Entrants and Investors, Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others