Albany, NY -- (SBWIRE) -- 05/17/2018 -- Parking management systems help people find parking spots quickly and provide necessary guidelines to make the whole process smooth, reducing frustration and enhancing the visitor experience. Parking management systems comprise traveler information systems, real-time vehicle counting, real-time parking guidance display, video surveillance, and easy payment options. Some advanced parking management systems allow users to reserve and pay for a parking space via telephone or the internet.

The global parking management market to grow at a CAGR of 14.44% during the period 2017-2021.

Covered in this report

The report covers the present scenario and the growth prospects of the global parking management market for 2017-2021. To calculate the market size, the report considers the revenue generated from the applications in government, business, and transport, parking facilities: off-street and on-street, and categories such as revenue management, security and surveillance, access control, reservation management, valet facility management, and others.

The market is divided into the following segments based on geography:
Americas
APAC
EMEA

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Technavio's report, Global Parking Management Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
Amano McGann
Kapsch
Siemens
SKIDATA
Xerox
Other prominent vendors
3M
Cisco
Cisco Jasper
Deutsche Telekom
Gemalto
HCL
IBM
IPS Group
MSR-Traffic
Nedap Mobility Solutions
Orange Business Services
Oti (PARX)
Parkeon
ParkHelp
ParkMe (INRIX)
Parkmobile
Parkopedia
Q-Park
Serco
Sierra Wireless
Smart Parking
SWARCO
Synapt (Prodapt Solutions)
T2 SYSTEMS
Telensa
Urbiotica
Vodafone
Worldsensing

Market driver
Adoption of wireless connectivity
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Market challenge
High maintenance costs
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Market trend
Outsourcing of parking operations
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Key questions answered in this report
What will the market size be in 2021 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the key vendors?
What are the strengths and weaknesses of the key vendors?