Global Parking Management Market Analysis, 2016 – 2021

Parking Management Market by Software and Professional Services, by Solution (Access Control, Security & Surveillance, Fee & Revenue Management, Enforcement & Permit Management) Global Forecast to 2021 MarketIntelReports newly published a research report on Global Parking Management Market with covering detailed analysis on market segmentation, global notable vendors, geographical outlook, price & financial updates, segment & application approach and future forecasts.

Published on – 01 October, 2016 | Number of pages : N/A Single User Price: $5650

Parking Management Market by Software and Professional Services, by Solution (Access Control, Security & Surveillance, Fee & Revenue Management, Enforcement & Permit Management) - Global Forecast to 2021 The parking management market size is estimated to grow from USD 3.03 Billion in 2016 to USD 5.00 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 10.6%. Major growths drivers of the market include the increased production of vehicles, increased pollution, and concern for safety, security, and connectivity.

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The major forces driving the parking management market is the worldwide focus on seamless traffic flow, reduction in fuel pollution, increased production of vehicles leading to parking concerns, and concern for safety, security, and connectivity The continuous developments in this technology and its solutions have also encouraged users to adopt parking management solutions and services.

Parking fee and revenue management solutions expected to grow at the highest CAGR The market, by solution, has been segmented into access control, security and surveillance, parking fee and revenue management, parking reservation management, valet parking management, parking fee enforcement and permit management, and parking guidance and slot management. Parking fee and revenue management system is expected to witness the highest CAGR during the period. This system helps the parking operators to collect parking fees from the travelers who utilize their parking facilities. Moreover, it also counters the challenges of over or under capacity, variable demand, and advanced reservation. These benefits are driving the market and are anticipated to help in propelling the parking management market at the highest CAGR during the forecast period.

Deployment and customization service market is expected to grow at the highest rate during the forecast period The market, by professional service, has been segmented into deployment & customization and maintenance & support. The deployment and customization service segment is expected to grow at the highest CAGR over the forecast period owing to the rapid adoption of parking management solutions in both small and medium businesses and large enterprises, which require back support and assistance for deployment, customization, and management of solutions.

APAC is expected to dominate the parking management market during the forecast period North America is expected to hold the largest share of the parking management market in 2016 due to the technological advancements and early adoption of parking management solutions across a large number of verticals in this region. The market in APAC is expected to grow at the highest CAGR between 2016 and 2021. The primary driving forces for this growth are changing work culture in organizations, government initiatives, and rapidly deployable cloud-based solutions in various industries in the APAC countries, especially India, China, and Japan.

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Key questions answered in this report • What will the market size be in 2020 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?

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Parking Management Market by Software and Professional Services, by Solution (Access Control, Security & Surveillance, Fee & Revenue Management, Enforcement & Permit Management) Global Forecast to 2021 A detailed qualitative analysis of the factors responsible for driving and restraining growth of the Parking Management Market : Market Shares, Strategies, and Forecasts, Worldwide, 2016 to 2022 and future opportunities are provided in the report.

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