Parking Management Market, By Deployment Type (On-premise, Cloud-based), By Parking Site (Off-street, On-street), By Offering Type (Solution, Service), By Region (North America, Latin America, Europe, Asia Pacific, Middle East, Africa) - Size, Share, Outlook, and Opportunity Analysis, 2023 - 2030
In the parking industry, a parking management system is a technological solution that is designed to maximize the efficiency of car parks and minimize the costs associated with managing these facilities. These systems can be implemented by businesses of any size, ranging from small shops to large corporations. They can be used to improve the flow of traffic, reduce stress on motorists, and improve the experience of parkers.
A parking management solution can also provide the ability to create and manage a customer loyalty program. One can give customers the option of paying for their parking services in person or online. The software can integrate with several other software systems to ensure that payments are processed smoothly.
Market Dynamics:
With the increase in the number of vehicles on the road, the need to reduce the traffic congestion is expected to boost growth of global parking management the market over the forecast period. Governments are also investing in the development of smart cities. Hence, these governments are also expected to augment the market growth.
However, complexities system integration and high cost are expected to hinder growth of the global parking management market over the forecast period.
Key features of the study:
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook