The global market for parking management solutions is expected to reach an overall market valuation worth US$614.59 bn by the end of 2025. This growth of the global market is projected to be achieved with the help of an impressive CAGR of 9.3% over the course of the given forecast period of 2017 to 2025.
Albany, NY -- (SBWIRE) -- 03/06/2018 -- Global Parking Management Solution Market: Overview
Parking management solution are a set of hardware designed and manufactured to manage parking space in a particular location. It consists of monochrome displays, LED light indicators, solar panel/battery, RFID tags, sensors, automated payment systems and centralized data management system that allow people to find parking in desired locations. The demand for parking management solution market is expected to increase in the coming years owing to rapid increase in automobile usage and increasing adoption for smart city projects across world. Thus, the need for parking management solution is expected to become prominent among government/transportation and private agencies for the smooth running of traffic across streets during the forecast period 2017-2025.
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Global Parking Management Solution Market: Scope of Study
This research report provides in-depth analysis of the global parking management solution market for the period of 2015 – 2025, wherein 2016 is the base year and 2017 to 2025 is the forecast period. Data for 2015 has been included as historical information. It also provides the comprehensive analysis of parking management solution market based on type, installed location type and geography.
The report also provides an analysis of the factors that drive and restrain the growth of the parking management solution market. It discusses the prevailing prospective growth opportunities, and major strategies increasing the popularity of the global parking management solution market.
The objective of this study is to understand the factors aiding the growth of parking management solution market. The report further aims to identify various factors that are expected to support the expansion of parking management solution market in the emerging markets. The report also provides Porter's Five Forces Analysis for the global Parking management solution market. It also encompasses the key factors aiding the growth by region in the parking management solution market. It also provides the market estimates and forecasts for all the segments in terms of revenue (in US$ Bn) and volume (Mn Units).
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Global Parking Management Solution Market: Market Segmentation
The global parking management solution market is categorized based on type into parking meters (single-space parking meter) and parking kiosks (multi-space parking meter) type. Furthermore, the research report provides the complete insights into different parking management solution providers through installed location types which includes on-street parking and parking venues (parking deck, parking complex, etc). The report analyzes each of these segments for various geographies considered under the scope of the study.
Based on the geographical regions, the report segments the global parking management solution market into North America, Europe, Asia Pacific, Middle East & Africa (MEA), and South America, which are analyzed in terms of revenue and volume generation. North America is further segmented into The U.S., Canada and Rest of North America, while Europe is divided into The U.K., Germany, France, Sweden, Norway, Denmark, Finland, Iceland and Rest of Europe. Asia Pacific is subdivided into China, Japan, Australia and Rest of Asia Pacific. Also, MEA is further segmented into The GCC, South Africa and Rest of MEA, while South America is subdivided into Brazil and Rest of South America. The report also covers cross segmentation forecasts of Nordic countries.
The report also includes the competitive profiling of major players engaged in providing parking management solutions. Major business strategies adopted by them, their market share, and recent developments have also been identified in the research report. This report also provides market positioning analysis of major players operating in the global parking management solution market. The key market players profiled in this study include parking meter and kiosks providers and OEM's. The prominent providers offering parking management solution include Parkeon S.A.S., Parking BOXX, IPS Group, Inc., METRIC Group Ltd., Ventek International, Worldwide Parking, Inc., J.J. MacKay Canada Limited, CivicSmart, Inc., LocoMobi Inc., POM Inc., and Cale Access AB (Cale Group AB).
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Global Parking Management Solution Market
By Installed Location
Middle East and Africa