Business Services News

Business Services News

Breaking News on Business Services

Home > Business Services Search Engine                                 

Business Services News -- Video Feeds
  • Advertising
  • Careers
  • Corporate news
  • Economy
  • Markets
  • Small Business
  • Personal Finance
  • Regulatory and Compliance
  • Business News

    Parking Management Market worth $5.4 billion by 2025 | Asia Pacific to record the highest growth during the forecast period
    (I-BusinessNews.Com, May 03, 2021 ) MarketsandMarkets forecasts the "Parking Management Market by Offering (Solutions (Parking Guidance, Parking Reservation Management, Parking Permit Management) and Services), Deployment Type, Parking Site (Off-street and On-street), and Region - Global Forecast to 2025",size to grow from USD 3.8 billion in 2020 to USD 5.4 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 7.4% during the forecast period. Parking management solutions have spurred tremendous growth opportunities for technology vendors and various associated service providers. With the growing number of government initiatives toward the development of smart cities, parking management vendors taking center stage; technology providers and consultants have aggressively started simulating innovative solutions based on conceptual modules for the designing and development of urban infrastructure.

    Browse in-depth TOC on “Parking Management Market”

    216 – Tables

    47 – Figures

    237 – Pages

    Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1249

    Expanding urban agglomerations and predictions for a rapid rise in urban population over the next decade further enunciates the need for adequate parking management solutions. However, factors such as lack of high implementation costs, data security and privacy issues related to IoT devices, and disruption in logistics and supply chain of IoT devices, have posed major challenges for the parking management market, globally.

    The solutions segment to hold a larger market size during the forecast period

    Based on offering, the solutions segment of the parking management market is projected to hold a larger market size during the forecast period. The solutions segment in the parking management market comprises six major components, viz., parking guidance solution, parking reservation management, parking permit management, parking enforcement management, Parking Access and Revenue Control (PARC), parking security and surveillance, and parking analytics. The growth of this segment can be attributed to the rising adoption of advanced technologies, such as Artificial Intelligence (AI), IoT, and cloud and the increasing traffic congestion on the road due to irregular parking practices.

    By parking site, off-street parking segment to record a higher growth rate during the forecast period

    Off-street parking refers to parking facilities that are made available by parking operators in various areas, such as parking lots, garages, or private driveways in shopping malls, commercial buildings, hotels, and residential buildings. Off-street parking sites are highly effective in terms of vehicle holding capabilities and are generally controlled by commercial agencies. Off-street parking involves proper designing and construction to provide a safe and secure vehicle parking experience for drivers. The segment focuses on ensuring security, pre-booking of parking spots, and parking fee management. This segment has witnessed several innovations to enable efficient parking; for instance, nowadays, advanced garages are equipped with robotic valet systems that help in parking management. Off-street parking solutions are expected to experience a high growth rate due to the huge investments by authorities in multi-level parking, and also by the private sector in its parking facilities.

    Request Sample: https://www.marketsandmarkets.com/requestsampleNew.asp?id=1249

    Asia Pacific to record the highest growth during the forecast period

    The APAC parking management market is estimated to have strong growth in the future. The APAC region is witnessing high growth due to increasing global competition, growing penetration of smart devices, connected machines, and rising investments in smart cities. This region comprises more than 40% of the world’s population and has some of the fastest-growing economies. Urbanization is on the rise in several countries across the region. According to the UN database, around 2.5 billion people are expected to move to urban areas from 2018 to 2050, and 90% of urbanization is expected to happen in Asia and Africa. Thus, APAC is a current hotspot of the parking management market and attracts many companies.

    Market Players

    Major vendors in the parking management market include GROUP Indigo (France), Amano (Japan), Siemens (Germany), Bosch Group (Germany), Conduent (US), APCOA PARKING (US), Precise ParkLink (Canada), SWARCO (Austria), SKIDATA (Austria), T2 Systems (US), FlashParking (US), Passport Labs (US), Flowbird Group (France), ParkMobile (US), SpotHero (US), Get My Parking (India), INRIX (US), IPS Group (US), Smart Parking (Australia), Chetu (US), TIBA Parking Systems (US), Q-Free (Norway), Streetline(US), ParkOffice (US), Urbiotica (Spain), and CivicSmart (US).

    About Us

    MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

    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.

    MarketsandMarkets™

    Mr. Aashish Mehra

    1-888-600-6441

    raviraj.tak@marketsandmarkets.com

    Source: EmailWire.Com

    Source: EmailWire.com

    Business News Feeds
  • Business News - Top Stories
  • Company Earnings
  • Economy
  • Personal Finance
  • Real Estate
  • Stock Markets
  • Business Services Sponsors

    Business Services Ads

    Business Resource Center
    We are pleased to offer you this exciting, new, and entirely free professional resource. Visit our Free Industry resource center today to browse our selection of 600+ complimentary Industry magazines, white papers, webinars, podcasts, and more. Get popular titles including:

    CIO Insight
    Managed Healthcare Executive
    Mortgage Technology

    No credit cards, coupons, or promo codes required. Try it today!

    Press release service

    :: Home: :: Submit Press Release :: Subscribe to News :: Contact Us :: Help

    For unlimited press release distribution for $59 per month, call (281) 645-4086 or start posting your press releases online at EmailWire.com.

    Copyright 2008 GroupWeb Media LLC
    GroupWeb Media Network

    Aviation-NewsWire | ArtNewsWire | Auction NewsWire | CRM NewsWire | ePhotoNewsWire | Energy Industry | EstateNewsWire | Entertainment-NewsWire.com | Food Beverage News | Glamour NewsWire | Health NewsWire | Hosting NewsWire | i-Auto NewsWire | i-Business News | i-Homeland Security.Com | iMac-NewsWire.Com | i-Press-Release-Service | i-SoftwareNews.com | iT-NewsWire.Com
    | i-TravelNewsWire.Com | MoneyNewsWire.Net | Movie-Stars-News.Com | MSNewsWire.Net | PharmaNewsWire.Com | Publishing-NewsWire.Com | RSSNewsWire.Net | Telecom-NewsWire.Net | Transportation-News.Com | USGovernment-News.Com | WebPosters.Net | Wireless-NewsWire.Com | VoIPNewsWire.Net | XSportsWorld.Net
    I-BusinessNews.Com is a business news service of GroupWeb Media LLC