Global Parking Management Market: was valued at US$ 3.35 Bn. in 2021 and is expected to reach US$ 8.31 Bn. by 2029, at a CAGR of 12% during a forecast period.
Global Parking Management Market Overview:
The Global Parking Management Market Analysis" is an in-depth look at the Global Parking Management market, with a focus on global market trends and analysis. The purpose of this research is to provide an overview of the Global Parking Management industry as well as a comprehensive market analysis by segment and geography. The Global Parking Management market is expected to expand rapidly over the forecast period. The research contains critical information on the market positions of the top Global Parking Management corporations, as well as noteworthy industry trends and prospects.
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Global Parking Management Market Dynamic:
Growing demand for optimum utilization of parking spaces: Several parking spaces go unused as developers install more to comply with restrictions governing the size and number of parking spaces. By alerting consumers when and where a parking spot is available, consistent parking management solutions, such as better signage and real-time parking indicators, reduce parking space wastage. By preventing overpricing and underpricing parking spaces through better revenue management, parking management also contributes to more efficient use of parking resources.
Market Scope:
The study includes a PESTLE analysis to assess the market's leading competitors' strengths and weaknesses. In order to predict the market and give investors professional insights to keep them up to speed on market developments, the research thoroughly investigates the Global Parking Management Market size, share, trends, total earnings, gross revenue, and profit margin.
The report also provides company biographies, product photos and specifications, capacity, production, price, cost, revenue, and contact information for the Global Global Parking Management market's major industry players. This study investigates market trends, volume, and value on a global, regional, and company level. This report analyses the whole Global Parking Management Market Size from a global perspective, analyzing historical data and creating estimates.
Global Parking Management Market Segmentation:
Based on solution, Access control, security & surveillance, revenue management, parking reservation management, and others are all segments of the parking management market. In 2021, the revenue management category led the market, accounting for USD 686.2 million in revenue. Revenue management solutions are in high demand since they assist in determining the correct pricing for all car parks by offering a visual representation of the price rates. These technologies also assist facility providers in comparing their prices to those of competitors, allowing them to gain revenue.
Based on application, in 2021, the government segment dominated the market. In the government sector, there is a strong need for effective car park management solutions due to the requirement to establish safe, clean, and efficient public parking facilities across cities. The need for intelligent solutions is increasing in tandem with the growing number of smart city projects. Governments around the world are implementing car park management solutions in response to rising traffic challenges caused by a scarcity of parking spots. The Dutch Ministry of Infrastructure and Water Management, for example, planned to invest USD 101 million by 2021, in collaboration with local governments and national and international organizations. To develop and deploy novel traffic applications, the Dutch Ministry formed agreements with traffic solution providers, car firms, and telecommunications and internet providers.
Key Players:
• Amano Corporation
• Q-Free ASA
• Indigo Park Services
• Chetu, Streetline
• SWARCO
• T2 Systems
• SKIDATA
• Flowbird Group
• GROUP Indigo
• Siemens
• Bosch Group
• Conduent
• APCOA PARKING
• Precise ParkLink
• FlashParking
• Passport Labs
• ParkMobile
• SpotHero
• Get My Parking
• INRIX
• IPS Group
• Smart Parking
• TIBA Parking Systems
• Streetline
Primary and secondary research identifies important market participants, whereas primary and secondary research calculates market revenues. In-depth interviews with important thought leaders and industry professionals, such as experienced front-line staff, CEOs, and marketing executives, were conducted as part of the core research. Primary research comprised in-depth interviews with key thought leaders and industry professionals, such as experienced front-line staff, CEOs, and marketing executives, while secondary research included a review of the main manufacturers' annual and financial reports. Secondary data is used to compute percentage splits, market shares, growth rates, and worldwide market breakdowns, which are then compared to original data. The following are a few companies working in the Global Parking Management industry.
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Regional Analysis:
The Global Parking Management research focuses on geographical analysis, which is further separated by sub-regions and nations. Profit projections and market share statistics for each country are included in this section of the research. This portion of the research examines the share and growth rate of each area and nation throughout the anticipated time period.
The report provides a precise PESTEL analysis for all five regions, including North America, Europe, Asia Pacific, the Middle East, Africa, and South America, after considering political, economic, social, and technical issues affecting the Global Parking Management market in various sectors.
COVID-19 Impact Analysis on Global Parking Management Market:
As a result of the COVID-19 outbreak, customer behaviour has changed in many spheres of society. In contrast, industries will need to adjust their strategy to account for shifting market supply. This study will assist you in expanding your business in compliance with the new industry standards by providing an overview of the COVID-19's impact on the Global Parking Management market.
The Global Parking Management Market Report presents 360-degree study under the COVID-19 Influence area, spanning from the flexible supply chain and import constraints to provincial government regulations and the firm's future impact. Primary market research (2021-2027), examples of venture rivalry, advantages and disadvantages of major firm streams, and industry growth trends (2021-2027) have all been provided.
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Key Questions Answered in the Global Parking Management Market Report are:
- What is the size of the market for Global Parking Management?
- Which regional market will take the lead in the next years?
- Which application category is likely to grow the most quickly?
- What growth prospects may exist in the Global Parking Management business in the next years?
- What would be the most significant future obstacles for the Global Parking Management market?
- Who are the market leaders in the category Global Parking Management?
- What are the key trends impacting market growth?
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