Global Parking System Management Market Growth (Status and Outlook) 2024-2030

Global Parking System Management Market Growth (Status and Outlook) 2024-2030

The global Parking System Management market size is projected to grow from US$ 842.8 million in 2023 to US$ 1395.4 million in 2030; it is expected to grow at a CAGR of 7.5% from 2024 to 2030.

LPI (LP Information)' newest research report, the “Parking System Management Industry Forecast” looks at past sales and reviews total world Parking System Management sales in 2023, providing a comprehensive analysis by region and market sector of projected Parking System Management sales for 2024 through 2030. With Parking System Management sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Parking System Management industry.

This Insight Report provides a comprehensive analysis of the global Parking System Management landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Parking System Management portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Parking System Management market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Parking System Management and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Parking System Management.

Integration of Smart Technologies: Parking system management is increasingly incorporating smart technologies such as IoT sensors, machine learning algorithms, and real-time data analytics to optimize parking space utilization, improve traffic flow, and enhance user experience. These technologies enable features such as real-time parking availability updates, predictive parking guidance, and automated payment systems, leading to increased efficiency and convenience for drivers.Shift towards Digitalization and Automation: There is a growing trend towards digitalization and automation in parking system management, driven by the need for improved operational efficiency, reduced manpower requirements, and enhanced revenue generation. Automated parking systems, including robotic valet parking, automated ticketing, and license plate recognition, are becoming increasingly prevalent, especially in urban areas with high parking demand.Demand for Contactless Solutions: The COVID-19 pandemic has accelerated the adoption of contactless parking solutions, as individuals seek to minimize physical contact and reduce the risk of virus transmission. Contactless payment options, mobile app-based parking reservations, and touchless entry and exit systems are becoming standard features in parking facilities, offering convenience and peace of mind to users.

This report presents a comprehensive overview, market shares, and growth opportunities of Parking System Management market by product type, application, key players and key regions and countries.

Segmentation by type
Hardware
Software

Segmentation by application
Business
Residential
Other

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
TIBA Parking Systems
ParkMobile
Park Assist
SKIDATA AG
ParkHub
Parkeon
Passport Labs, Inc.
ParkWhiz
SpotHero
PayByPhone

Please note: The report will take approximately 2 business days to prepare and deliver.