Parking Management Market Global Trends, Market Share, Industry Size, Growth
Added: (Wed Sep 18 2019)
Pressbox (Press Release) -
Rising urbanization and smart cities, rise in use of personal vehicles, focus on controlling traffic congestion to streamline traffic flow, reduction in fuel consumption and the advent of advanced visual and connectivity technologies have facilitated the emergence of parking management solutions and services. Parking reserving application, real-time parking availability status sensors, parking fees payment management, parking facilities safety are all parking management areas that facilitate parking operation and revenue control.
Increased investments by government and private sector players to build innovative parking spaces will be major contributor fuelling the growth of the global parking management market. Road safety rules reinforcement, need to improve security and surveillance along with the rising in smart parking deployment projects in various nations is estimated to induce tremendous growth resulting in a massive CAGR during 2019-2026.
The global parking management market is estimated to value over US $ 6.45 billion by the end of 2026 registering a CAGR of 8.3% during the forecast period of 2019 to 2026.
Global Parking Management Market Trends to Focus for Competitive Advantage
Integration of cutting-edge technologies with distributed revenue models and a variety of vendors formulating a seamless system
• Implementation of cloud-computing solutions
Public-private sector partnerships in both developed and developing economies
The role played by law enforcement authorities and ruling governments
Access control using License Plate Recognition(LPR), biometrics and Automatic Vehicle Identification(AIV)
Cellular connectivity safety
The dependency of guidance systems on data analytics
Adoption of the pay-per-use model by government and commercial parking facilities
Request a Sample Report @ https://www.futurewiseresearch.com/request-sample.aspx?id=129&page=requestsample
Global Parking Management Market, by Solution:
Analytics
Parking Guidance
Enforcement
Reservation Management
PARC
Permit
Security & Surveillance
Global Parking Management Market, by Deployment Type:
Cloud
On-premises
Focus on business continuity using cloud deployment for ease of accessibility and organization scalability irrespective of geographic locations will continue to dominate the parking management market. Besides pricing affordability offered by cloud deployment is estimated to drive the implementation of cloud-based parking management services and solutions in the coming years, especially in developing regions of the world.
Global Parking Management Market, by Parking Site:
On-Street
Off-Street
On-street parking comes with benefits like low cost and time for developing parking spaces. Also, this segment is experiencing high investment in lieu of attempts to control traffic congestion in urban areas. The on-street parking site segment is estimated to grow at an attractive CAGR during the forecast period from 2019 to 2026. However, the shift towards service-centric models due to smart cities development and related cost of maintenance, security, fees collection and customer service is projected to convert off-street parking site segment into largest market share holding sub-segment.
Global Parking Management Market, by Service
Professional Services
Managed Services
Global Parking Management Market, by Region:
Europe
North America
APAC
Latin America
Rest of world
Inclination towards service-oriented offerings, a high number of personal vehicles on the road and high investment in parking management facility developments are factors fuelling dominant growth of the North American region. This is followed by Europe with the rising need for traffic safety and commuter convenience. The APAC region is estimated to grow at a trailblazing CAGR due to enhanced citizen services, smart cities implementation and swift adoption of advanced technologies.
Purchase a Copy & Ask For Discount: https://www.futurewiseresearch.com/request-sample.aspx?id=129&page=askfordiscount
Competitive Landscape:
Tier 1 players- established companies in the market with a major market share
Tier 2 players
Emerging players which are growing rapidly
New Entrants
FutureWise Takeaways
Growth prospects
SWOT analysis
Key trends
Key data points affecting market growth
Objectives of the Study:
To provide with an exhaustive analysis on the Global Parking Management Market by Solution, by Service, by Deployment Type, by Parking Site and Region
To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
To evaluate and forecast micro-markets and the overall market
To predict the market size, in key regions (along with countries)North America, Europe, Asia Pacific, Latin America, and the Middle East.
To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
Profiling of companies to evaluate their market shares, strategies, financials and core competencies
Inquire further details about this report at: sales@futurewiseresearch.com
About FutureWise Research:
We specialise in high-growth niche markets, assuring flexibility, agility and customised solutions for our clients. Through in-depth market insights and consultancy, we present our clients with the tools they need to be at the forefront of their industry a position secured for far more than the near future.
Contact Us:
Company Name: FutureWise Research
Contact Person: Vinay Thaploo
Email: sales@futurewiseresearch.com
Phone: +44 141 628 9353 / +1 970 279 4295
City: Leeds
Country: United Kingdom
Website: www.futurewiseresearch.com