Jun 1, 2018   SOURCE: PR NewsWire

Parking Management Market Worth 5.15 Billion USD by 2023

PUNE, India, June 1, 2018 /PRNewswire/ --

According to a new market research report "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", published by MarketsandMarkets(TM), the market size is expected to grow from USD 3.39 Billion in 2018 to USD 5.15 Billion by 2023, at a Compound Annual Growth Rate (CAGR) of 8.7% during the forecast period.

(Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg )

Browse 66 market data Tables and 34 Figures spread through 130 Pages and in-depth TOC on "Parking Management Market"

https://www.marketsandmarkets.com/Market-Reports/parking-management-market-1249.html [https://www.marketsandmarkets.com/Market-Reports/parking-management-market-1249.html?utm_source=PRNewswires&utm_medium=Referral&utm_campaign=PRNewswires ]

Early buyers will receive 10% customization on this report 

The major driver for the upsurge in the demand of the Parking Management Market is the growing focus on seamless traffic flow and reduction in fuel consumption and increasing motor vehicle sales. The major restraining factor could be the complexity in system integration.

PARC solution is expected to account for the largest market share 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.

Inquiry Before Buying@ https://www.marketsandmarkets.com/Enquiry_Before_Buying.asp?id=1249 [https://www.marketsandmarkets.com/Enquiry_Before_Buying.asp?id=1249&utm_source=PRNewswires&utm_medium=Referral&utm_campaign=PRNewswires ]

Off-street parking site is expected to hold a larger 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. The off-street parking involves proper designing and construction to provide a safe and secure vehicle parking experience for drivers. Moreover, it focuses on ensuring security, pre-booking of parking spots, and parking fee management. All the modern public infrastructure facilities are built with advanced off-street parking facilities.

North America is expected 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 GDP of this region is way ahead of the other countries in the world. The US and Canada are known for providing world-class citizen services, and these countries are embracing the smart city technology. Growing population, rise in vehicle sales, and change in parking regulations are expected to drive the Parking Management Market growth in North America.

The major vendors covered in the 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).

Know more about the Parking Management Market: 

https://www.marketsandmarkets.com/Market-Reports/parking-management-market-1249.html [https://www.marketsandmarkets.com/Market-Reports/parking-management-market-1249.html?utm_source=PRNewswires&utm_medium=Referral&utm_campaign=PRNewswires ]

About MarketsandMarkets(TM)  

MarketsandMarkets(TM) provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets(TM) for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets(TM) are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets(TM) now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets(TM) is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. 

        

        Contact: 
        Mr. Salgarkar 
        MarketsandMarkets(TM) INC. 
        630 Dundee Road 
        Suite 430 
        Northbrook, IL 60062 
        USA: +1-888-600-6441 
        Email: sales@marketsandmarkets.com

  Visit Our Blog: http://www.marketsandmarketsblog.com/market-reports/telecom-it

Connect with us on LinkedIn: http://www.linkedin.com/company/marketsandmarkets 


    Photo: 
    https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg

SOURCE MarketsandMarkets