Parking Management Market

Parking Management Market by Solution (Parking Guidance, Reservation Management, Permit, Enforcement, PARC, Security & Surveillance, Analytics), Service, Deployment Type, Parking Site (Off-Street and On-Street), and Region - Global Forecast to 2023

Report Code: TC 3072 Jun, 2018, by marketsandmarkets.com

[130 Pages Report] The market for parking management market size is expected to grow from USD 3.39 billion in 2018 to USD 5.2 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 8.7% during the forecast period. The major growth drivers for the parking management market includes the growing focus on seamless traffic flow and reduction in fuel consumption and increasing motor vehicle sales. The major restraining factor for the growth of the market could be the complexity in integration of all the hardware and software into a single system.

Parking Management Market

Based on solution, the PARC solution to hold the largest market size during the forecast period

The Parking Access and Revenue Control (PARC) solution is expected to account for the largest market share during the forecast period. The solution helps parking operators to manage in and out of vehicles in parking facilities and also empowers them to take full control over the parking revenue. This is one of the primary solutions that parking operators are looking for their parking facilities. This solution automates the access control and revenue collections at parking sites.

Based on parking site, the off-street parking site to hold the largest market size during the forecast period

The off-street parking is expected to hold a larger market size during the forecast period, owing to huge investments made by authorities in multi-level parking, and also by the private sector in its parking facilities. Additionally, the off-street parking has witnessed a number of innovations to enable efficient parking; for instance, nowadays, advanced garages are equipped with robotic valet systems that help in parking management.

Based on deployment type, the cloud segment to grow at the higher growth rate during the forecast period

The cloud deployment type vertical is estimated to grow at the higher rate during the forecast period, owing to the high adoption of cloud based parking management solutions. SMEs significantly consider and prefer the cloud-based parking management solutions, as the cloud deployment requires less capital investment, decreases operational and maintenance costs, and reduces management efforts. In addition to this, the cloud-based solutions facilitate organizations with scalability and the ease of accessibility of organizational content, regardless of employees’ location, thereby helping with business continuity.

Parking Management Market

North America to hold the largest market size during the forecast period

North America is expected to hold the largest market size during the forecast period, owing to the large-scale investments in implementing parking management solutions to meet the growing need for better driver and commuter convenience. The US and Canada have been expansively implementing parking management solutions with the increasing adoption of mobile devices as well as the rising focus on managing the growing traffic congestion. The strong inclination toward mobility is encouraging customers to manage parking from their own devices. Moreover, cloud-based solutions have also penetrated the market to provide cost-effective ways of managing the parking facilities.

Key Market Players for Parking Management Market

Major vendors in the global parking management market include Conduent (US), Amano Corporation (Japan), Q-Free ASA (Norway), Indigo Park Services (UK)), Chetu (US), Streetline (US), SWARCO (Austria), T2 Systems (US), SKIDATA (Austria), Flowbird Group (France), INRIX (US), Flashparking (US), Parkmobile (US), Passport (US), SpotHero (US), TIBA Parking Systems (US), Urbiotica (Spain), Smart Parking (Australia), SAP (Germany), Siemens (Germany), APCOA (US), Bosch Mobility Solutions (Germany), GET MY PARKING (India), Nester(UAE), and NuPark (US).These companies have adopted various strategies such as acquisitions; expansions; new product launches and product enhancements; and partnerships, agreements, and collaborations to cater to the growing demand for parking management solutions across the globe as well as to strengthen their position in the market.

Scope of the Report

Report Metrics

Details

Market size available for years

2016–2023

Base year considered

2017

Forecast period

2018–2023

Forecast units

Billion (USD)

Segments covered

Type (Solutions and Services), Deployment Type, Parking Site, and Regions

Geographies covered

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa

Companies covered

Conduent (US), Amano Corporation (Japan), Q-Free ASA (Norway), Indigo Park Services (UK), Chetu (US), Streetline (US), SWARCO (Austria), T2 Systems (US), SKIDATA (Austria), Flowbird Group (France), INRIX (US), Flashparking (US), Parkmobile (US), Passport (US), SpotHero (US), TIBA Parking Systems (US), Urbiotica (Spain), Smart Parking (Australia), SAP (Germany), Siemens (Germany), APCOA (US), Bosch Mobility Solutions (Germany), GET MY PARKING (India), Nester (UAE), and NuPark (US)

The research report categorizes the market based on type (solutions and services), deployment type, parking site, and regions.

Based on Type, the Parking Management market has the following segments:

  • Solutions
    • Parking Guidance Solution
    • Parking Reservation Management
    • Parking Permit Management
    • Parking Enforcement Management
    • Parking Access and Revenue Control
    • Parking Security and Surveillance
    • Parking Analytics
  • Services
    • Professional services
  • Consulting
  • System Integration and Deployment
  • Support and Maintenance
    • Managed services

Based on Deployment Type, the market has the following segments:

  • On-Premises
  • Cloud

Based on Parking Site, the market has the following segments:

  • Off-street Parking
  • On-street Parking

Based on Region, the Parking Management market has the following segments

  • North America
  • Europe
  • APAC
  • MEA
  • Latin America

Recent Developments

  • In March 2018, TIBA Parking launched the ParkBlue suite that transforms the traditional access control and parking in cities across the globe. It consists of Bluetooth and LPR capabilities at the frontend and business intelligence tools in the backend. With the use of this suite, drivers could register, reserve, navigate, and pay for the parking through a user-friendly, intuitive application
  • In February 2018, Amano McGann, a subsidiary of Amano in the US, acquired Computerized Valet Parking Systems (CVPS), a division of Service Tracking Systems, Inc. This acquisition enables Amano to expand and enhance their capabilities, markets, technological capacities, and customer services in the US
  • In November 2016, SAP launched new connected parking solutions that leverage cloud, smart devices, and Big Data technologies. These solutions would improve management of parking locations for cars, motorcycles, and trucks
  • In June 2017, IndigoPark Services partnered with Valeo and Cisco in Issy-Les-Moulineaux to develop and test an autonomous smart parking technology. This partnership aimed at enhancing Indigo Park Services’s solutions capabilities and making them future proof
  • In April 2017, Conduent made its presence in Saudi Arabia and Cambodia by deploying its industry-leading parking management solutions to 7 airports. It has deployed the web platform, the 2D barcode contactless technology, Automatic Number-Plate Recognition (ANPR), credit-card payment, and bank note recycling and dispensing on Pay on Foot stations.

Critical Questions the Report Answers

  • What are the current technology trends that are driving the parking management market?
  • What is the adoption of parking management solutions in various parking site?
  • Where will all these developments take the industry in the mid to long-term?
  • Which companies are the top vendors in the parking management market and what is their competitive analysis?
  • What are the drivers and challenges of the parking management market?

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

Table of Contents

1 Introduction (Page No. - 16)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
    1.4 Years Considered for the Study
    1.5 Currency
    1.6 Stakeholders

2 Research Methodology (Page No. - 19)
    2.1 Research Data
           2.1.1 Secondary Data
           2.1.2 Primary Data
                    2.1.2.1 Breakup of primaries profiles
                    2.1.2.2 Key Industry Insights
    2.2 Market Size Estimation
    2.3 Research Assumptions and Limitations
           2.3.1 Assumptions
           2.3.2 Limitations

3 Executive Summary (Page No. - 26)

4 Premium Insights (Page No. - 30)
    4.1 Attractive Market Opportunities in the Parking Management Market
    4.2 Market By Type, 2018–2023
    4.3 Market By Solution, 2018–2023
    4.4 Market By Service, 2018–2023
    4.5 Market By Parking Site, 2018–2023
    4.6 Market By Deployment Type, 2018–2023
    4.7 Market Investment Scenario

5 Market Overview and Industry Trends (Page No. - 34)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Growing Focus on Seamless Traffic Flow and Reduction in Fuel Consumption
                    5.2.1.2 Adoption of Cloud Computing and IoT Technologies
                    5.2.1.3 Increasing Motor Vehicle Sales Driving the Demand for Parking Spaces
                    5.2.1.4 Proliferation of Mobile and Smartphones
           5.2.2 Restraints
                    5.2.2.1 Complexity in System Integration
           5.2.3 Opportunities
                    5.2.3.1 Increasing Adoption of Smart Cities By Governments Across Regions
                    5.2.3.2 Optimum Utilization of Parking Spaces
                    5.2.3.3 Technological Advancements in Autonomous Cars
           5.2.4 Challenges
                    5.2.4.1 High Implementation Costs
                    5.2.4.2 Rapid Changes in Technologies
    5.3 Use Cases

6 Parking Management Market By Type (Page No. - 40)
    6.1 Introduction
    6.2 Solutions
           6.2.1 Parking Guidance Solution
           6.2.2 Parking Reservation Management
           6.2.3 Parking Permit Management
           6.2.4 Parking Enforcement Management
           6.2.5 Parking Access and Revenue Control
           6.2.6 Parking Security and Surveillance
           6.2.7 Parking Analytics
    6.3 Services
           6.3.1 Professional Services
                    6.3.1.1 Consulting
                    6.3.1.2 System Integration and Deployment
                    6.3.1.3 Support and Maintenance
           6.3.2 Managed Services

7 Market By Parking Site (Page No. - 53)
    7.1 Introduction
    7.2 Off-Street Parking
    7.3 On-Street Parking

8 Market By Deployment Type (Page No. - 57)
    8.1 Introduction
    8.2 On-Premises
    8.3 Cloud

9 Parking Management Market By Region (Page No. - 61)
    9.1 Introduction
    9.2 North America
           9.2.1 United States
           9.2.2 Canada
    9.3 Europe
           9.3.1 United Kingdom
           9.3.2 Germany
           9.3.3 Rest of Europe
    9.4 Asia Pacific
           9.4.1 China
           9.4.2 Japan
           9.4.3 Rest of Asia Pacific
    9.5 Latin America
           9.5.1 Brazil
           9.5.2 Mexico
           9.5.3 Rest of Latin America
    9.6 Middle East and Africa
           9.6.1 United Arab Emirates
           9.6.2 South Africa
           9.6.3 Rest of Middle East and Africa

10 Competitive Landscape (Page No. - 82)
     10.1 Overview
     10.2 Market Ranking Analysis
     10.3 Competitive Scenario
             10.3.1 New Product Launches
             10.3.2 Business Expansions
             10.3.3 Mergers and Acquisitions
             10.3.4 Agreements and Partnerships

11 Company Profiles (Page No. - 86)
(Business Overview, Products and Services Offered, Recent Developments, SWOT Analysis, and MnM View)*
     11.1 Conduent
     11.2 Indigo Park Services
     11.3 Amano
     11.4 Swarco
     11.5 Q-Free
     11.6 Streetline (A Kapsch Company)
     11.7 T2 Systems
     11.8 Skidata
     11.9 Flowbird Group
     11.10 Inrix
     11.11 Flashparking
     11.12 Chetu
     11.13 Parkmobile
     11.14 Passport Inc.
     11.15 Spothero
     11.16 Tiba Parking
     11.17 Urbiotica
     11.18 Smart Parking
     11.19 SAP
     11.20 Siemens
     11.21 Key Innovators
             11.21.1 Apcoa Parking
             11.21.2 Bosch Mobility
             11.21.3 Get My Parking
             11.21.4 Nester
             11.21.5 Nupark

*Details on Business Overview, Products and Services Offered, Recent Developments, SWOT Analysis, and MnM View Might Not Be Captured in Case of Unlisted Companies.

12 Appendix (Page No. - 123)
     12.1 Discussion Guide
     12.2 Knowledge Store: Marketsandmarkets’ Subscription Portal
     12.3 Introducing RT: Real-Time Market Intelligence
     12.4 Available Customizations
     12.5 Related Reports
     12.6 Author Details


List of Tables (66 Tables)

Table 1 United States Dollar Exchange Rate, 2015–2017
Table 2 Parking Management Market, By Type, 2016–2023 (USD Billion)
Table 3 Solutions: Market Size 2016–2023 (USD Billion)
Table 4 Solutions: Market Size By Region, 2016–2023 (USD Billion)
Table 5 Parking Guidance Solution Market Size, By Region, 2016–2023 (USD Billion)
Table 6 Parking Reservation Management Market Size, By Region, 2016–2023 (USD Billion)
Table 7 Parking Permit Management Market Size, By Region, 2016–2023 (USD Billion)
Table 8 Parking Enforcement Management Market Size, By Region, 2016–2023 (USD Billion)
Table 9 Parking Access and Revenue Control Market Size, By Region, 2016–2023 (USD Billion)
Table 10 Parking Security and Surveillance Market Size, By Region, 2016–2023 (USD Billion)
Table 11 Parking Analytics Market Size, By Region, 2016–2023 (USD Billion)
Table 12 Services: Market Size 2016–2023 (USD Billion)
Table 13 Services: Market Size By Region, 2016–2023 (USD Billion)
Table 14 Professional Services Market Size, By Type, 2016–2023 (USD Billion)
Table 15 Professional Services Market Size, By Region, 2016–2023 (USD Billion)
Table 16 Consulting Market Size, By Region, 2016–2023 (USD Billion)
Table 17 System Integration and Deployment Market Size, By Region, 2016–2023 (USD Billion)
Table 18 Support and Maintenance Market Size, By Region, 2016–2023 (USD Billion)
Table 19 Managed Services Market Size, By Region, 2016–2023 (USD Billion)
Table 20 Parket, By Parking Site, 2016–2023 (USD Billion)
Table 21 Off-Street Parking: Market Size By Region, 2016–2023 (USD Billion)
Table 22 On-Street Parking: Market Size By Region, 2016–2023 (USD Billion)
Table 23 Market, By Deployment Type, 2016–2023 (USD Billion)
Table 24 On-Premises: Market Size By Region, 2016–2023 (USD Billion)
Table 25 Cloud: Market Size By Region, 2016–2023 (USD Billion)
Table 26 Market Size By Region, 2016–2023 (USD Billion)
Table 27 North America:Parking Management Market Size By Country, 2016–2023 (USD Billion)
Table 28 North America: Market Size By Type, 2016–2023 (USD Billion)
Table 29 North America: Market Size By Solution, 2016–2023 (USD Billion)
Table 30 North America: Market Size By Service, 2016–2023 (USD Billion)
Table 31 North America: Market Size By Professional Service, 2016–2023 (USD Billion)
Table 32 North America: Market Size By Deployment Type, 2016–2023 (USD Billion)
Table 33 North America: Market Size By Parking Site, 2016–2023 (USD Billion)
Table 34 Europe: Parking Management Market Size, By Country, 2016–2023 (USD Billion)
Table 35 Europe: Market Size By Type, 2016–2023 (USD Billion)
Table 36 Europe: Market Size By Solution, 2016–2023 (USD Billion)
Table 37 Europe: Market Size By Service, 2016–2023 (USD Billion)
Table 38 Europe: Market Size By Professional Service, 2016–2023 (USD Billion)
Table 39 Europe: Market Size By Deployment Type, 2016–2023 (USD Billion)
Table 40 Europe: Market Size By Parking Site, 2016–2023 (USD Billion)
Table 41 Asia Pacific: Parking Management Market Size, By Country, 2016–2023 (USD Billion)
Table 42 Asia Pacific: Market Size By Type, 2016–2023 (USD Billion)
Table 43 Asia Pacific: Market Size By Solution, 2016–2023 (USD Billion)
Table 44 Asia Pacific: Market Size By Service, 2016–2023 (USD Billion)
Table 45 Asia Pacific: Market Size By Professional Service, 2016–2023 (USD Billion)
Table 46 Asia Pacific: Market Size By Deployment Type, 2016–2023 (USD Billion)
Table 47 Asia Pacific: Market Size By Parking Site, 2016–2023 (USD Billion)
Table 48 Latin America: Parking Management Market Size, By Country, 2016–2023 (USD Billion)
Table 49 Latin America: Market Size By Type, 2016–2023 (USD Billion)
Table 50 Latin America: Market Size By Solution, 2016–2023 (USD Billion)
Table 51 Latin America: Market Size By Service, 2016–2023 (USD Billion)
Table 52 Latin America: Market Size By Professional Service, 2016–2023 (USD Billion)
Table 53 Latin America: Market Size By Deployment Type, 2016–2023 (USD Billion)
Table 54 Latin America: Market Size By Parking Site, 2016–2023 (USD Billion)
Table 55 Middle East and Africa: Parking Management Market Size, By Country, 2016–2023 (USD Billion)
Table 56 Middle East and Africa: Market Size By Type, 2016–2023 (USD Billion)
Table 57 Middle East and Africa: Market Size By Solution, 2016–2023 (USD Billion)
Table 58 Middle East and Africa: Market Size By Service, 2016–2023 (USD Billion)
Table 59 Middle East and Africa: Market Size By Professional Service, 2016–2023 (USD Billion)
Table 60 Middle East and Africa: Market Size By Deployment Type, 2016–2023 (USD Billion)
Table 61 Middle East and Africa: Market Size By Parking Site, 2016–2023 (USD Billion)
Table 62 Market Ranking, 2018
Table 63 New Product Launches, 2016–2018
Table 64 Business Expansions, 2017–2018
Table 65 Acquisitions, 2015—2018
Table 66 Agreements and Partnerships, 2017–2018


List of Figures (34 Figures)

Figure 1 Parking Management Market Segmentation
Figure 2 Market: Research Design
Figure 3 Breakup of Primary Sources: By Company, Designation, and Region
Figure 4 Data Triangulation
Figure 5 Market Size Estimation Methodology: Bottom-Up Approach
Figure 6 Market Size Estimation Methodology: Top-Down Approach
Figure 7 Market: Assumptions
Figure 8 Market Size and Growth, 2016–2023 (USD Billion, Y-O-Y %)
Figure 9 Top Growing Segments in the Market During the Forecast Period
Figure 10 Parking Management Market Regional Market Scenario
Figure 11 Growing Adoption of Smart Technologies in North America and Europe is Expected to Drive the Market
Figure 12 Solutions Segment is Expected to Account for A Higher Market Share During the Forecast Period
Figure 13 Parking Access and Revenue Control Solution is Expected to Account for the Largest Market Share During the Forecast Period
Figure 14 Professional Services Segment is Expected to Hold the Higher Market Share During the Forecast Period
Figure 15 Off-Street Parking Site Segment is Expected to Hold the Higher Market Share During the Forecast Period
Figure 16 On-Premises Deployment Type is Expected to Hold the Higher Market Share During the Forecast Period
Figure 17 Parking Management Market: Market Investment Scenario
Figure 18 Market: Drivers, Restraints, Opportunities, and Challenges
Figure 19 Solutions Segment is Expected to Account for A Larger Market Size During the Forecast Period
Figure 20 Parking Access and Revenue Control Solution is Expected to Hold the Highest Market Share During the Forecast Period
Figure 21 Professional Services Segment is Expected to Hold A Larger Market Size During the Forecast Period
Figure 22 Off-Street Parking Site Segment is Expected to Hold A Larger Market Size During the Forecast Period
Figure 23 On-Premises Deployment Type is Expected to Hold A Larger Market Size By 2023
Figure 24 North America is Expected to Hold the Largest Market Size in the Parking Management Market During the Forecast Period
Figure 25 Asia Pacific is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 26 North America: Market Snapshot
Figure 27 Asia Pacific: Market Snapshot
Figure 28 Key Developments By Leading Players in the Market During 2015–2018
Figure 29 Conduent: Company Snapshot
Figure 30 Amano: Company Snapshot
Figure 31 Q-Free: Company Snapshot
Figure 32 Smart Parking: Company Snapshot
Figure 33 SAP: Company Snapshot
Figure 34 Siemens: Company Snapshot

The study consists of 4 major activities to estimate the current market size of the parking management market. An extensive secondary research was done to collect information on the market, the peer market, and the parent market. The next step was to validate these findings, assumptions, and sizing with the industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, the market breakup and data triangulation procedures were used to estimate the market size of the segments and subsegments of the parking management market.

Secondary research

In the secondary research process, various secondary sources such as D&B Hoovers and Bloomberg BusinessWeek have been referred to for identifying and collecting information for the study. Secondary sources included annual reports, press releases, and investor presentations of companies; whitepapers, certified publications, and articles by recognized authors, gold standard and silver standard websites, Research and Development (R&D) organizations, regulatory bodies, and databases.

Primary Research

Various primary sources from both supply and demand sides of the parking management market were interviewed to obtain qualitative and quantitative information for the study. The primary sources from the supply side included industry experts, such as Chief Executive Officers (CEOs), Vice Presidents (VPs), marketing directors, technology and innovation directors, and related key executives from various vendors of parking management solutions, associated service providers, and system integrators operating in the targeted regions. All possible parameters that affect the market covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. Following is the profile breakup of primary respondents:

Parking Management Market

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

Both top-down and bottom-up approaches were used to estimate and validate the total size of the parking management market. The methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:

  • The key players in the market were identified through extensive secondary research.
  • The market size, in terms of value, was determined through primary and secondary research processes.
  • All percentage shares, splits, and breakups were determined using secondary sources and verified through primary sources.

Data triangulation

With data triangulation and validation through primary interviews, the exact value of the overall parent market size was determined and confirmed using the study. The overall market size was then used in the top-down procedure to estimate the size of other individual markets via percentage splits of the market segmentation.

Report Objectives

  • To determine and forecast the global parking management market on the basis of types (solutions and services), deployment types, parking site, and regions from 2018 to 2023, and analyze the various macro and microeconomic factors that affect the market growth
  • To forecast the size of the market segments with respect to the 5 main regions, namely, North America, Europe, Latin America, Asia Pacific (APAC), and Middle East and Africa (MEA)
  • To provide detailed information regarding the major factors (drivers, restraints, opportunities, and challenges) influencing the growth of the parking management market
  • To analyze each submarket with respect to the individual growth trends, prospects, and contributions to the total market
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments of the market
  • To profile the key market players, provide comparative analysis on the basis of business overviews, regional presence, product offerings, business strategies, and key financials, and illustrate the competitive landscape of the market
  • To track and analyze the competitive developments, such as mergers and acquisitions, product developments, partnerships and collaborations, and Research and Development (R&D) activities in the market

Available Customizations

With the given market data, MarketsandMarkets offers customizations as per the company’s specific requirements. The following customization options are available for the report:

Geographic Analysis

  • Further country-level breakdown of the North American parking management market
  • Further country-level breakdown of the European market
  • Further country-level breakdown of the APAC market
  • Further country-level breakdown of the MEA market
  • Further country-level breakdown of the Latin American market

Company Information

  • Detailed analysis and profiling of additional market players
Report Code
TC 3072
Published ON
Jun, 2018
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