Global Parking Management Solutions Market

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The global Parking Management Solutions market size was valued at USD 3847.02 Million in 2022 and will reach USD 6179.74 Million in 2028, with a CAGR of 8.22% during 2022-2028.

Parking Management Solutions automate a car parking system. It encompasses ICT-based solutions that deploy IoT and AI for a smooth and automated parking facility. It optimizes parking spaces and making processes efficient. It gives real-time car parking information, such as vehicle & slot counts, available slots display, reserved parking, pay-and-park options, easy payments, reports, and a host of other features. Parking Management Solutions offer a range of technologies and digital services that enable a parking operator working in the ‘on-street’ or ‘off-street’ environment complete control over who can access their sites, and where it is important to do so, enable users to pay for those services in an efficient and friendly way.

Short-term negative impact
The worldwide spread of COVID-19 has affected the global economy. This pandemic, the overall lockdown, and the rapid increase in the number of infected patients have brought the entire manufacturing and service industries to a standstill. This has severely affected the global manufacturing supply chain and service providers.
In the current situation that governments of various countries have implemented complete lockdowns due to the spread of the coronavirus, the global market share has fallen sharply. This global economic crisis has affected the income of various industries. Therefore, the investment reserved for the purchase of advanced parking management systems by the public or private sectors is disrupted, because this amount will inevitably be used to make up for economic losses and rebuild business foundations. This may result in lower sales demand for new parking management solutions. In addition, due to the decline in income levels, this epidemic may affect the auto industry, and people may pay more attention to utilities than to buy new cars. Due to social distancing, shopping malls, amusement parks, restaurants and other entertainment activities may be hindered, thereby affecting parking space operators. The supply and demand sides of the market have been hit, which will have a short-term negative impact on the industry.

Gradually recover over a long period of time
With the promotion of vaccines and the implementation of epidemic prevention and control measures, the supply chain has gradually recovered, market vitality has been restored, and capital market confidence has been reshaped. During the pandemic, the increasing use of advanced technologies to add non-contact parking facilities is expected to create opportunities for parking management solution providers. People’s greater reliance on digital lifestyles will help promote the digital transformation of enterprises and the promotion and implementation of smart solutions.

Political Factors
Government support
Traffic is becoming congested gradually, and the government is paying more and more attention to the parking management market. The government participates in the parking management market and actively promotes the development of the smart parking market.
The growth of the German market is mainly due to the continuous development of their parking management system approach. Germany has an excellent ICT infrastructure and is fast-tracking smart technologies in its infrastructure. Nearly 74% of Germans live in cities and towns, so strategic urban development through digital solutions has been widely recognized and relevant. Germany's goal is to use network information and communication technologies to implement intelligent traffic and parking management systems to reduce road congestion. In Hamburg, the Department of Home Affairs and Sports and State Traffic Authority, in association with Deutsche Telekom, presented an app-based smart parking solution—Park and Joy, to simplify parking and reduce traffic congestion. The app will fetch data from numerous sensors placed by the local transport authority LBV and allow users to see free parking spaces through a smartphone.

Environmental Factors
The external competitive environment is fierce
The market for parking management solutions is fiercely competitive, especially with the improvement of the level of intelligence, the market competition is becoming increasingly fierce. With the government's emphasis on parking management and the leading direction of smart city construction, the prospects and demands of the parking management solution market have expanded. An effective integrated parking management solution helps maintain urban infrastructure, reduce land consumption, increase government revenue generation and improve user convenience. All authorities around the world are trying to improve traffic congestion by providing enough parking spaces for their citizens. Therefore, in the next few years, the demand for parking management solutions is expected to increase and competition is fierce.

Region Overview:
Geographically, North America held the largest market share – 38% in 2021.

Company Overview:
Amano is one of the major players operating in the Parking Management Solutions market, holding a share of 14.12% in 2022.

Amano
Amano Corporation manufactures electric time recorders and information systems. The Company also produces time stamps and parking lot traffic and fee collection management systems. The Company produces environment related systems such as dust collectors, air filters, and gas/water cleaning equipment.

FLOWBIRD
Flowbird is a French-headquartered company specializing in payment and ticketing systems, notably for car parks and public transport systems. The company was formed as a spin-off from Schlumberger in 2003.

Segmentation Overview:
Among different product types, On-street parking segment is anticipated to contribute the largest market share in 2027.

Application Overview:
In the Parking Management Solutions market, 36.4% of the total value was generated through the Revenue management segment by application in 2021.

The Parking Management Solutions market report covers sufficient and comprehensive data on market introduction, segmentations, status and trends, opportunities and challenges, industry chain, competitive analysis, company profiles, and trade statistics, etc. It provides in-depth and all-scale analysis of each segment of types, applications, players, 5 major regions and sub-division of major countries, and sometimes end user, channel, technology, as well as other information individually tailored before order confirmation.

Meticulous research and analysis were conducted during the preparation process of the report. The qualitative and quantitative data were gained and verified through primary and secondary sources, which include but not limited to Magazines, Press Releases, Paid Databases, Maia Data Center, National Customs, Annual Reports, Public Databases, Expert interviews, etc. Besides, primary sources include extensive interviews of key opinion leaders and industry experts such as experienced front-line staff, directors, CEOs, and marketing executives, downstream distributors, as well as end-clients.

In this report, the historical period starts from 2018 to 2022, and the forecast period ranges from 2023 to 2028. The facts and data are demonstrated by tables, graphs, pie charts, and other pictorial representations, which enhances the effective visual representation and decision-making capabilities for business strategy.

Key Companies in the global Parking Management Solutions market covered in Chapter 4:
Amano
Conduent
Kapsch TrafficCom
FLOWBIRD
Siemens
T2 Systems, Inc.
SKIDATA
Indigo
Cleverciti Systems
IBM Corporation
Robotic Parking Systems, Inc
Bosch

In Chapter 12 and Chapter 14.1, on the basis of types, the Parking Management Solutions market from 2018 to 2028 is primarily split into:
Off-street parking
On-street parking

In Chapter 13 and Chapter 14.2, on the basis of the Downstream Industry, the Parking Management Solutions market from 2018 to 2028 covers:
Revenue management
Security and surveillance
Access control
Reservation management
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, history and forecast (2018-2028) of the following regions are covered in Chapters 6, 7, 8, 9, 10, 11, 15:
North America (United States, Canada, Mexico)
Europe (Germany, United Kingdom, France, Italy, Spain)
Asia Pacific (China, Japan, South Korea, India, Southeast Asia)
South America (Brazil, Argentina)
Middle East & Africa (Saudi Arabia, UAE, South Africa)

Outline:
Chapter 1 begins with the Parking Management Solutions market scope and definition, product segment introduction, global overall market size, as well as market dynamics scenarios such as opportunities, challenges, and industry development trends under inflation. It offers a high-level view of the current state of the Parking Management Solutions market and its likely evolution in the short to mid-term and long term.

Chapter 2 provides Parking Management Solutions industry chain analysis, covering raw materials analysis, cost structure, price estimate, and forecast, along with price-impacting factors, downstream channels, and major customers. It aims to help readers to grab insights into product upstream, midstream, and downstream fields.

Chapter 3 depicts Parking Management Solutions industry competitive analysis regarding market concentration rate, saturation rate, feasibility analysis from new entrants, as well as substitute's status and trends. It indicates the developing space and prospects of the current industry.

Chapter 4 analyzes extensive company profiles, comprising company basic info, product or service profiles, and sales, price, value, gross, and gross margin 2018-2023. It incorporates the Parking Management Solutions market ranking, benchmarks, and company business portfolio.

Chapter 5 presents trade statistics of import and export volume from 2018-2023, demonstrating domestic and international market comparisons in specific countries.

Chapters 6-10 highlight Parking Management Solutions market status at the regional and country levels, including 5 major regions of North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. The region and country list in the sample is only for reference, and it can be adjusted as required.

Chapter 11 involves geographical market figures of sales, value, market share, and growth rate. Economic, social, environmental, technological, and political factors have been taken into consideration while assessing the growth of each specific region.

Chapters 12-13 evaluate the Parking Management Solutions market based on different types and applications. It focuses on sales and value of 2018-2023 from both vertical and horizontal perspectives.

Chapters 14-15 elaborate on the Parking Management Solutions market forecast data from 2023-2028, segmented by types and applications, regions, and major countries, helping readers to know future aspects and growth trends.

Chapter 16 ends with an elaboration of data sources and research methodology. All possible parameters that affect the markets 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.