LONDON--(BUSINESS WIRE)--Technavio has been monitoring the global parking management solutions market since 2014 and the market is poised to grow by USD 4 billion during 2019-2023, progressing at a CAGR of over 10% during the forecast period. Request Free Sample Pages
Read the 136-page research report with TOC on "Parking Management Solutions Market Analysis Report by Product (revenue management, security and surveillance, access control, reservation management, and others), by Type (off-street parking and on-street parking), by Geography (Americas, EMEA, and APAC), and Segment Forecasts, 2019 - 2023".
The market is driven by the growth in smart parking deployment projects. In addition, the automatic valet parking is anticipated to further boost the growth of the parking management solutions market.
The growth in smart parking deployment projects will be one of the major drivers in the global parking management solutions market. Parking is becoming a pressing issue in urban development due to the increasing number of automobiles. Smart parking solutions help address the problem. Smart parking solutions use embedded sensors in the ground and mounted cameras on light poles and building structures to determine an available spot. The collected data is directed wirelessly to a gateway and conveyed to a central cloud-based smart parking platform and analyzed against the data from other sensors to create a real-time parking map, which is then used by the driver as a map on his/her mobile device. This helps the driver in instantly finding an available spot. The map also helps parking control officers by directing them to exactly where there has been a parking violation. Hence, with the increasing implementation of smart parking projects, the demand for parking management solutions will grow significantly.
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Major Five Parking Management Solutions Market Companies:
Amano
Amano owns and operates businesses under various segments such as time information system business and environment system business. The company offers a wide range of parking management solutions. Some of the products offered by the company are iParcProfessional Access Control Software and OPUS-2700.
Conduent
Conduent businesses works under two segments: commercial industries and public sector. Some of the products offered by the company are Merge Parking Management System, Violations Processing, License Plate Recognition Solution.
Kapsch TrafficCom
Kapsch TrafficCom has business operations under various segments, namely ETC Performance Sensing and IMS Sensing Solution. Some of the products offered by the company are Parker, ParkEdge, and Guided Enforcement.
Siemens
Siemens operates businesses under several segments including: power and gas, energy management, building technologies, mobility, digital factory, process industries and drivers, siemens healthineers, siemens gamesa renewable energy, and financial services. The product offered by the company for parking management solutions is SIPARK PMA.
SKIDATA
SKIDATA’s key offerings in the parking management solutions include sweb and skiosk Smart Parking. sweb is a cloud-based parking management system and skiosk Smart Parking is an interactive and multifunctional parking kiosk.
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Parking Management Solutions Product Outlook (Revenue, USD Million, 2019 - 2023)
- Revenue management
- Security and surveillance
- Access control
- Reservation management
- Others
Parking Management Solutions Regional Outlook (Revenue, USD Million, 2019 - 2023)
- APAC
- EMEA
- Americas
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