According to the latest market research study by Technavio, the global parking management market is expected to grow at a CAGR of close to 14% during the forecast period 2017 to 2021.
This report by Technavio provides an in-depth analysis of the global parking management market regarding revenue and emerging market trends. The report also includes an up-to-date vendor analysis and forecasts for various market segments and all geographical segmentations.
Technavio research analysts categorize the market based on applications
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Government: The government segment is anticipated to post significant growth during the forecast period. The need for developing clean, safe, and efficient public parking facilities across cities is creating demand for improved solutions.
“Parking management systems manage thousands of parking spaces for government agencies, including large and complex public garages, and provide on-street parking facilities. Government agencies partner with parking solution providers to outsource solutions. These parking solution providers privatize parking projects, provide consulting services, and streamline parking operations,” says Abhishek Sharma, a lead analyst at Technavio for research on machine to machine and connected devices.
Business: Business facilities usually serve multiple destinations right from free, single-use to facilities to paid ones. The parking management system allows for a well-organized facility. For instance, Parking Control Management UK can offer custom-made parking services and management solutions for any business. It also offers tailored car parking signs for single or multi-tenant commercial properties to manage illegal parking.
Transport: Parking is the most important component of the transportation system. Many organizations are looking for intelligent transportation systems to enable secure movement of people, products, and vehicles. With the rising need to travel, the transportation industry must take care of operating inefficiencies and transport security. Parking solution providers help to ease traffic congestion, support improved transport efficiency, and reduce travelers’ stress.
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The top vendors operating in the global parking management market are:
- Amano McGann
- Kapsch
- Siemens
- SKIDATA
- Xerox
The other prominent vendors in the market include 3M, Cisco, Cisco Jasper, Deutsche Telekom, Gemalto, HCL, IBM, IPS, MSR-Traffic, Nedap Mobility Solutions, Orange Business Services, Oti, Parkeon, ParkHelp, ParkMe, Parkmobile, Parkopedia, Q-Park, Serco, Sierra Wireless, Smart Parking, SWARCO, Synapt, T2 SYSTEMS, Telensa, Urbiotica, Vodafone, and Worldsensing.
A more detailed analysis is available in the Technavio report titled, ‘Global Parking Management Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports
- Global Smart Parking Market 2017-2021
- Smart Parking Market in Western Europe 2016-2020
- Electric Vehicle Charging Station Market in China 2016-2020
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