Parking Management Market Size, Share & Trends Analysis Report By Component (Solution, Service), By Deployment Type (Cloud, On-premise), By Parking Site (On-street, Off-street), By Application (Commercial, Government), By Region, And Segment Forecasts, 20

Parking Management Market Summary

The global parking management market size was estimated at USD 5.11 billion in 2025 and is projected to reach USD 16.74 billion by 2033, growing at a CAGR of 17.1% from 2026 to 2033. The rising application of parking management to reduce traffic congestion and greenhouse gas emissions drives the growth of the industry.

Parking management helps reduce greenhouse gas emissions from vehicles by reducing the mobility and congestion of vehicles in search of parking spaces. In the U.S., an average driver spends around 17 hours a year looking for a parking space. This is one of the leading causes of traffic congestion in urban areas and leads to the wastage of scarce resources and time. With strategically designed parking systems, sensors, cameras, and RFIDs, drivers can get information related to available parking spots, the current location of parked vehicles, and the purchase and payment of digital parking tickets, among others.

Parking systems also use real-time information offered by sensors to constantly update a centralized parking management system and showcase digital signage, directions, and a list of spaces available in a parking facility. This helps ensure that drivers get access to easy, timely, and safe parking facilities. Moreover, integrating these systems with mobile apps allows users to reserve parking spots in advance, enhancing convenience and reducing time spent searching for space.

Moreover, open-source transport applications, including the parking management systems, are helping drivers gain real-time parking updates, including nearby parking facilities, navigation and routes, spot availability, and reservation and pre-booking services. These systems help build a low-cost digital infrastructure and transform urban mobility in a short period. Data analytics solutions have already been used in different countries to analyze the citizens’ travel needs and behavioral patterns to identify and manage traffic congestion.

Technological advancements, such as IoT, AI, and cloud computing, are transforming parking management systems by enabling real-time data analysis, predictive capabilities, and automation. IoT sensors can detect available spaces and send instant updates to drivers, reducing the time spent searching for parking. AI-powered analytics predict parking demand, helping optimize space utilization. Cloud-based platforms offer centralized control, allowing cities and businesses to manage parking operations remotely. These technologies improve efficiency, enhance user experience, and reduce costs, attracting both businesses and municipalities to adopt smart parking solutions. Smart solutions for transport infrastructure are emerging as the primary means for fostering urban mobility and are expected to drive the industry over the forecast period.

Global Parking Management Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Grand View Research has segmented the global parking management market report based on component, deployment type, parking site, application, and region:

• Component Outlook (Revenue, USD Billion, 2021 - 2033)
• Solution
• Access Control
• Security & Surveillance
• Revenue Management
• Parking Reservation Management
• Valet Parking Management
• Others
• Service
• Consulting Services
• System Integration and Deployment
• Support and Maintenance
• Deployment Type Outlook (Revenue, USD Billion, 2021 - 2033)
• Cloud
• On-premise
• Parking Site Outlook (Revenue, USD Billion, 2021 - 2033)
• On-street
• Off-street
• Garage Parking
• Lot Parking
• Application Outlook (Revenue, USD Billion, 2021 - 2033)
• Transport Transit
• Commercial
• Government
• Regional Outlook (Revenue, USD Billion, 2021 - 2033)
• North America
• U.S.
• Canada
• Mexico
• Europe
• Germany
• UK
• France
• Asia Pacific
• China
• Japan
• India
• South Korea
• Australia
• Latin America
• Brazil
• Middle East and Africa (MEA)
• KSA
• UAE
• South Africa

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