Parking Management Market

Parking management is projected to grow from USD 5.6 billion in 2024 to USD 8.1 billion by 2029 at a CAGR of 7.4% during the forecast period. Enhancing the user experience is a fundamental driver of this goal. Time-effective parting services, such as the availability of parking space, parking fees, and navigating parking lots, increase customer satisfaction. More people are likely to use parking facilities by effectively making parking services recommendable. It improves traffic control and urban mobility.

The major vendors covered in the parking management include Siemens (Germany), Amano (Japan), Group Indigo (France), Bosch Group (Germany), SWARCO (Austria), SKIDATA (Austria), Chetu (US), INREX (US), IPS Group (US), TIBA Parking Systems (Israel), Atos (France), Precise Parklänk (Canada), 3M (US), Infocomm Group (Oman), T2 System (US), FlashParking (US), Passport Labs (US), SpotHero (US), Get My Parking (India), Streetline (US), Flowbird (France), Cleverciti (Germany), Wayleadr (US), Urbiotica (Spain), Urbiotica (Spain), CivicSmart (US), Parklio (Croatia), TCS International (US), Parkable (New Zealand), Parkalot (Poland), Parking Telecom (France), and Omnitec (Dubai). These firms have used a variety of growth methods, including partnerships, agreements,  business expansions, collaborations, and the introduction of new products, to increase the prominence of parking management.

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Amano, offers a wide array of products under its parking system business. The parking system business segment aims to improve efficiency and reduce the costs. It has also helped increase the convenience level for parking lot users, ensuring safety and security in parking lots and making reservations and payments through integration with the Internet. The company provides hardware and software for managing parking lots. Its product line-up includes gate-type systems, flap-lock systems, bicycle parking systems, vehicle guidance systems, parking lot management software, and security gate systems. The company's parking products are utilized in all locations around the city, including bicycle parking lots and train station parking facilities. The company's parking management software enables the parking operator to manage and monitor all the connected hardware and provide detailed reporting of sales data, the number of vehicle units, and others.

Siemens is an international business company that operates in technology and deals with electrification, automation, and digitalization. It also acts as the global supplier of energy-saving technologies to operate assets remotely and as the major supplier of power generation, transmission, and diagnostic systems. Siemens also offers optimal solutions to infrastructural and industrial problems. Products and services are delivered to numerous types of industries, including automotive, chemical, smart city, food & beverages, healthcare, glass/solar, machine building, marine/shipbuilding, metals, mining/cement, oil & gas, pharmaceuticals, and transportation/logistics, water/wastewater, and wind equipment.

Siemens Mobility unit offers services that span the rail, road, and intermodal categories. For parking management and parking lot solutions, Siemens’ mobility division provides Desigo CC smart parking systems in its building management system portfolio.

Related Reports:

Parking Management Market Size, Share, Growth Analysis, By Offering (Solutions (Parking Guidance, Parking Reservation Management) and Services), Parking Site (Off-Street and On-Street), End Use, and Region - Global Industry Forecast to 2029

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