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Parking Management Market by Software and Professional Services, by Solution - Global Forecast to 2021

Parking Management Market: Global Forecast until 2021

  • October 2016
  • 145 pages
  • ID: 4208326
In this report:
Latin America is expected to account for ##.##% of the total parking management market share in 2016, and is expected to grow at a CAGR of ##.##% during the forecast period.
Europe stands second with a market share of ##.##% in 2016; APAC is expected to account for a market share of ##.##% in 2016, and is projected to have a growth rate of ##.##% during the forecast period of 2016-2021.

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"The need to minimize traffic congestion and vehicular pollution will drive the parking management systems market"

The parking management systems market size is forecasted to grow from ~$3.0B in 2016 to ~$5.0B by 2021, at an estimated compound annual growth rate of 10.60 percent. The parking management systems market is influenced by Elements such as the need to minimize traffic congestion and vehicular pollution, concerns regarding safety, security, and connectivity among travelers, and heavy production of vehicles overall the globe. Because, high implementation cost constraints and lack of system integration limit the increase of parking management market.

"Professional services segment is anticipated to increase at the maximal compound annual growth rate (CAGR) during the outlook period"

The institutions are quickly increasing their partnership networks to deploy the parking management solutions across globe. Therefore, the professional services segment is anticipated to rise at the highest CAGR (Compound annual growth rate) during the estimate period, as distinguished to the software segment. The professional services segment also exhibit a greater share of the parking management market from 2016 to 2021, as distinguished to the software segment.

"Off-street parking site segment is forecasted to contribute the biggest market share during the outlook period"

Off street parking site segment is planned to have the most important market share as well as the more considerable Compound annual growth rate of 11.70 percent and will dominate the parking management systems market from 2016 to 2021, as distinguished to on street parking site segment as most of the parking spaces nowadays are off street.

"Asia Pacific (APAC) is intended to have the maximum growth rate during the estimate period"

Asia-Pacific includes emerging economies, such as china (CN), Australia (AU), Singapore (SG), and India (IN), which are quickly deploying parking management solutions. Asia-Pac is anticipated to grow at the highest compound annual growth rate (CAGR) during the outlook period. This is primarily due to the increase in demand of parking management solutions in verticals including transportation and governments and muncipalities due to growth in urbanization, regional economic increase, proliferation of mass transit systems, and increase in public parking spaces maintained by the government and municipalities. Additionally, North America continent is forecasted to have the biggest industry size in 2021.

Comprehensive interviews were managed with CEOs, marketing directors, other innovation and technology directors, and executives from numerous main institutions operating in the parking management systems market place.

- By Company Type: Tier 1: 25.0 percent, Tier 2: 50.0 percent, Tier 3: 25.0 percent

- By Designation: C-Level: 25.0 percent, Director Level: 50.0 percent, Others: 25.0 percent

- By area: North america (NA): 25.0 percent, Europe: 25.0 percent, APAC: 50.0 percent

The market research includes the study of top actors offering adaptive security solutions including XEROX Corporation, Siemens (SIA), Kapsch TrafficCom AG, AMANO Corporation, Cubic Corporation, SWARCO AG, INRIX, Incorporated, INDIGO, T2 Systems, Incorporated, and SKIDATA AG.

Segment Research

The industry report offers a picture on parking management systems and associated services across several verticals and territories. It aims at evaluating the market value and upcoming growth potential of this market across distinct segments including solutions, software and service, parking site types, verticals, and localities. Moreover, the study also comprises a detailed competitive analysis of the top players in the sector together with their company descriptions, SWOT study, recent evolutions, and key industries strategies.

Main highlights

The analysis will facilitate the market top players/new sector entrants in this sector by providing them the closest approximations of the revenue numbers for the global parking management systems market and sub-segments. This industry report will facilitate partners to better find out the competitor overview and obtain additional insights to better option their businesses and make suitable go-to-market approaches. The market research also benefits the partners to comprehend the pulse of the sector and offers them information on main market drivers, market restraints, opportunities, and alternatives.

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