USD 5.66 billion
Parking Management Market Size, Share, and Growth Analysis
Parking Management Market By Offering (Solutions, Services), By Deployment Type (Cloud, On-premise), By Parking Site (On-Street Parking, Off-Street Parking), By End Use (Residential, Commercial), By Region - Industry Forecast 2025-2032
Report ID:
SQMIG20R2057 |
Region:
Global |
Published Date: February, 2025
Pages:
197
|Tables:
116
|Figures:
69
Format -
Parking Management Market Insights
Global Parking Management Market size was valued at USD 5.66 billion in 2023 and is poised to grow from USD 6.2 billion in 2024 to USD 12.92 billion by 2032, growing at a CAGR of 9.6% during the forecast period (2025-2032).
Parking management helps the driver in locating the vacant parking spot with the help of sensors installed in each parking space. Managing the price and provision of parking, especially in high-activity and dense locations, can minimize the blockage of surrounding corridors. Important factors such as demand for concern for safety, security, and connectivity and growing parking concerns due to the increasing number of vehicles driving the growth of parking management.
The increasing number of vehicles worldwide impacts the availability of parking lots. It, therefore, increases the need for a parking management system as it helps in systematic allocation and maximum utilization of space for parking. Furthermore, increasing adoption of the Internet of Things (IoT) in parking and increasing penetration of smartphones will likely boost the growth of parking management systems over the forecast period. Furthermore, innovations like the development of electric and autonomous cars will likely provide further opportunities for the parking management market. The rising adoption of parking management systems by multi-storeyed parking services and residential & commercial sites is boosting the parking management market growth.
Market snapshot - 2025-2032
Global Market Size
Largest Segment
Off-Street
Fastest Growth
On-Street
Growth Rate
9.6% CAGR
Global Parking Management Market ($ Bn)
Country Share for North America Region (%)
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Parking Management Market Segments Analysis
Global Parking Management Market is segmented by Offering, Deployment Type, Parking Site, End Use and region. Based on Offering, the market is segmented into Solutions and Services. Based on Deployment Type, the market is segmented into Cloud and On-premise. Based on Parking Site, the market is segmented into On-Street Parking and Off-Street Parking. Based on End Use, the market is segmented into Residential, Commercial, Industrial and Government/ Public. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Analysis by Deployment Mode
Based on deployment mode, the on-premises segment is dominating with the largest parking management market share. The on-premises category is dominant because of its various benefits, including enhanced security, reduced downtime risks, and better accessibility. Data is kept on the firm's premises, allowing it better control and data protection. The on-premises implementation may offer an advantage in terms of compliance issues. Additionally, many firms rely on this type of deployment due to enhanced reliability. In case of network failure and if the internet connection is interrupted the employees can still access the data and avoid downtime.
The cloud segment is expected to witness significant growth during the forecast period. This is because cloud solutions are simple to deploy and don't need to install hardware. They're also simple to customize, allowing businesses to create solutions ideally suited to their needs. Many companies choose a model that will enable them to scale up as needed because they want to invest less in infrastructure initially. One of the most important factors influencing the growth of this market is cloud deployment, which offers a pay as you use approach where businesses only pay for what they use. Furthermore, the transition from on-premises to cloud-based solutions has been crucial in enhancing the reliability and simplicity of deployment.
Analysis by Parking Site
Based on parking sites, the off-street segment is dominating the parking management market. The rise of e-commerce drives the demand for retail and logistics spaces. As online shopping flourishes, many retailers are adapting by offering curbside pickup and delivery options, which require adequate off-street parking. This has prompted businesses to invest in dedicated parking spaces for customers and delivery drivers, ultimately transforming the design and utility of off-street facilities. In addition, cities are recognizing the importance of off-street parking in supporting local economies, as convenient access to retail and dining options can significantly enhance customer experience. Additionally, this solution requires low installation and maintenance costs which are expected to fuel the segment's growth. The rise in smart city initiatives is also propelling the demand for off-street parking sites.
As per the parking management market analysis, the on-street segment is expected to be the fastest growing segment. The growing importance of public transportation systems is influencing on-street parking dynamics. As cities invest in improving public transit, they are encouraging a shift from private vehicle use to more sustainable modes of transport. On-street parking management strategies that complement public transit, such as park-and-ride facilities or incentives for commuters who use public transportation, are becoming more common. These approaches help reduce congestion and promote a balanced transportation ecosystem where parking options support rather than hinder public transit accessibility. Moreover, on-street parking sites reduce the on-street parking saturation and the urgency of parking supply investments.
Global Parking Management Market Analysis by Parking Site
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Parking Management Market Regional Insights
North America is dominating with the largest parking management market share. To lessen traffic congestion, the rising car population in nations like Canada and the U.S. calls for a smart parking solution. Additionally, people are quickly acclimating to contemporary parking solutions due to the convenience offered by the surge in smartphone adoption and the release of mobile apps for finding parking spaces. The region's growing commercialization and the need to provide users with a tailored experience are driving up demand for parking management. For instance, The U.S. Department of Transportation (DOT) and the Environmental Protection Agency (EPA) is developing parking master plans for non-attainment areas for smog and particulate matter under the Clean Air Act as part of State Implementation Plans (SIPs).
Asia Pacific is anticipated to witness the fastest growth during the parking management market forecast period. The rising interest of the government in developing smart cities and increased demand for systematic and smooth flow of traffic are promoting growth in this region. The Asia Pacific region is experiencing rapid growth in industrialization and urbanization, which will support the growth of parking management even further as industrialization needs for smart transportation and logistics grow. Besides, the number of municipalities is increasing in developing countries such as India, South Korea, and China, which supports smart techniques to handle traffic. Furthermore, the development of advanced city projects, which focus more on infrastructure, connectivity, and parking management system, is a crucial factor contributing to the smart city project, leading to the market growth.
Global Parking Management Market By Geography
- Largest
- Fastest
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Parking Management Market Dynamics
Parking Management Market Drivers
Highly Efficient Parking Spaces
- As developers end up constructing extra spots to comply with requirements governing the size and the number of parking spaces, a proportion of parking spaces stay vacant. By alerting consumers when and where a parking spot is available, continuous parking management solutions, such as enhanced signs and real-time parking signals, reduce the wastage of parking spaces. Through better revenue management, which combats overcharging and undercharging for parking spaces, parking management also leads to more effective use of parking resources.
Rapid Growth of Smart Cities
- Major urban areas are being transformed into smart cities due to the advancement of technology. By utilizing cutting-edge information and communications technologies, smart cities are combining their housing, mobility, and economic activities. The adoption of smart city initiatives by governments globally is opening new markets for companies that offer smart parking management systems. Intelligent parking management systems can provide adaptable, scalable, manageable, and space-efficient parking solutions, which are needed by smart cities.
Parking Management Market Restraints
High Complexities of Integrating Systems
- Wireless and wired telecommunications systems, traffic control devices, a variety of hardware sensors, computer servers, and application interfaces are all included in parking management. The software and hardware used for parking management are incredibly diverse and variable. Additionally, to execute the idea of dynamic charged parking, parking data must be gathered and analyzed from various systems. It is challenging to combine the data from these separate parking data repositories, which are sometimes spread across incompatible hardware and software.
High Expense of Installation
- Several factors constrain the expansion of the parking management market. Parking management systems involve various components, including hardware sensors, traffic control equipment, computer servers, both wireless and wired systems, and mobile apps. To implement dynamic pricing, data from multiple systems must be analyzed. However, data integration is complex because the hardware on which parking data is stored is often incompatible, limiting the market's growth.
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Parking Management Market Competitive Landscape
Market players are observed to invest resources in research & development activities to support growth and enhance their internal business operations. Companies can be seen engaging in mergers & acquisitions and partnerships to further upgrade their products and gain a competitive advantage in the market. Moreover, governments are taking various initiatives to solve the problem of traffic congestion across the cities, and many private players are expanding their geographical presence to gain more market share. The prominent companies drive forward the global parking management market, each bringing unique strengths that cater to the evolving demands of modern urban environments. Their innovations and strategies not only fuel their growth but also enable more sustainable and efficient urban mobility solutions worldwide.
Top Player’s Company Profiles
- Amano Corporation (Japan)
- Siemens AG (Germany)
- Robert Bosch GmbH (Germany)
- Swarco AG (Austria)
- Conduent Inc. (USA)
- ABM Industries Inc. (USA)
- Tracsis plc (UK)
- Precise ParkLink Inc. (Canada)
- Indigo Group (France)
- ParkMobile LLC (USA)
- Passport Labs Inc. (USA)
- SpotHero Inc. (USA)
- CivicSmart Inc. (USA)
- IPS Group Inc. (USA)
- Smart Parking Ltd. (Australia)
- Get My Parking (India)
- Urbiotica (Spain)
Recent Developments in Parking Management Market
- In August 2023, TIBA Parking Systems introduced a new license plate recognition technology to streamline entry and exit processes in parking facilities, enhancing customer convenience.
- In June 2023, Flowbird Group acquired a smaller competitor to broaden its product range and increase its market reach, particularly in emerging markets.
- In March 2023, SKIDATA GmbH expanded its digital services by launching a cloud-based parking management system, aimed at enhancing user accessibility and operational efficiency.
Parking Management Key Market Trends
- Increasing Investment in Automation: In recent years, sectors such as automation, automotive, IT, and telecom are witnessing high investments for the development of smart parking solutions to cater the rising demand for new, innovative solutions for parking issues. Many automotive original equipment manufacturers (OEMs) are converging their portfolio in order to become an enabler of mobility ecosystem instead of a single provider of mobility. This is increasing the demand for EV charging, car sharing, parking, and payment solutions. This parking management market trend will continue to increase during the forecast period.
- Emergence of Intelligent Parking Exchange: Electric vehicles (EVs) are rapidly becoming a dominant force in the automotive industry, and composites play a crucial role in their development. Lightweight composites are essential for offsetting the weight of EV batteries, extending the vehicle's driving range, and maximizing energy efficiency. Automakers are integrating composites into EV components, including battery enclosures and structural elements. The integration of composites in EVs contributes to improved battery efficiency and overall vehicle performance.
Parking Management Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, the growth of this market is mainly due to the increasing transformation of urban areas into smart cities around the globe. With the help of innovative data and communication technologies, smart cities adopt housing, mobility, and economic functions. The smart city initiatives offered by the government are expected to offer lucrative growth opportunities for smart parking management systems that can be adopted by smart city solutions. As increasing production of vehicles and increasing use of these vehicles would lead to more traffic and congestion on roads as well as in parking spaces, thus it is significant to have a proper parking management solution for them to avoid any kind of traffic or congestion.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 5.66 billion |
| Market size value in 2032 | USD 12.92 billion |
| Growth Rate | 9.6% |
| Base year | 2024 |
| Forecast period | 2025-2032 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Parking Management Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Parking Management Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Parking Management Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Parking Management Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Parking Management Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Parking Management Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Parking Management Market Report Snapshots
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