Europe Parking Management Market Forecast 2018-2026
KEY FINDINGS Driven by the rise in demand for advanced license plate recognition, advancements in real-time information regarding parking, and growing incidences of automotive thefts are boosting growth in the parking management market. In Europe, the parking management market is expected to grow with a 10.39% CAGR during the forecast period of 2018-2026.
MARKET INSIGHTS The German parking management market registered the highest revenue share in 2017. In Germany, the parking management extends its applications in the healthcare industry, FMCG industry, automotive sector, commercial industries and other sectors. The German market was closely followed by the UK, which accounted for the second-highest revenue share in 2017. Rising car production in the United Kingdom is considered as a key trend that drives the demand for the parking management solutions in this region.
COMPETITIVE INSIGHTS Eminent market players include Nedap Mobility Solutions, Deutsche Telekom Ag, Siemens Ag, HCL Infotech Ltd, Amano Mcgann Inc, International Business Machines Corporation (IBM), T2 Systems Inc, Orange Business Services, Cubic Corporation, Xerox Corporation, Swarco Ag, Msr-Traffic, Parkopedia, Gemalto Nv, Inrix Inc, Serco Group Plc, Skidata Ag, and Kapsch Trafficom Ag.