Global Parking Management Market Forecast 2018-2026
Driven by the global rise in smart city projects, rising demand for advanced license plate recognition (LPR) technology for surveillance and booming automotive industry, the Global Parking Management market is projected to progress with a 10.93% CAGR over the forecast period of 2018-2026.
The global parking management market is segmented on the basis of parking site, components, verticals and solutions. Parking site can be off-street or on-street sites. Components segment includes professional services and software. The vertical segments include government and municipalities, corporate and commercial parks, recreation, academia, retail, healthcare, banking and financial institutions, hospitality and transportation, and other verticals. Market by solutions includes parking guidance and slot management, access control, parking and reservation management, parking fee enforcement and permit management, parking fee and revenue management, valet parking management and security and surveillance.
North America, Europe, Asia-Pacific and rest of the world are regional segments of the global parking management market. Presently, the North American parking management market reigns the global scene, but it is the Asia-Pacific market that is expected to exhibit much promise over the forecast period. Countries in this region are fast progressing, resulting in increased market demand.
Major players that are engaged in this market include Amano Mcgann Inc, 3m Company, Cisco Systems Inc, Deutsche Telekom Ag, Cubic Corporation, Gemalto Nv, International Business Machines Corporation (IBM), HCL Infotech Ltd, Indigo, Kpasch Trafficom Ag, Inrix Inc, Msr-Traffic, On Track Innovations (Oti) Ltd, Nedap Mobility Solutions, Orange Business Services, Parkopedia, Parkme, Q-Free Asa, Siemens Ag, Skidata Ag, Serco Group Plc, Swarco Ag, T2 Systems Inc, Synapt (Division Of Prodapt), and Xerox Corporation.