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Parking Management Market to be Worth $10.14 Billion by 2030: Grand View Research, Inc.SAN FRANCISCO, Feb. 1, 2023 /PRNewswire/ -- The global parking management market size is expected to reach USD 10.14 billion by 2030 and is expected to expand at 12.1% CAGR from 2023 to 2030, according to a new report by Grand View Research, Inc. The growing demand for smart parking sensors, the increasing need for parking spaces, and favorable government initiatives are some of the factors contributing to the market growth. Key Industry Insights & Findings from the report:
Read 110 page market research report, "Parking Management Market Size, Share & Trends Analysis Report By Solution, By Service, By Deployment, By Parking Site, By Off-Street Parking Site, By Application, By Region, And Segment Forecasts, 2023 - 2030", published by Grand View Research. Parking Management Market Growth & Trends Smart technologies are experiencing tremendous growth in the parking management system, including parking guidance systems, automated parking, and parking reservation systems. In addition to these technologies, the demand for security and safety of parked vehicles is also increasing rapidly among vehicle owners, which is propelling the procurement of a parking surveillance system. This will create a substantial market space for parking management companies to grow over the years. Several car park mobile applications have included the feature to reserve a vehicle park space and make payments through mobile wallets. It allows users to save meaningful time spent searching for vacan spaces and provides parking enforcement options, such as adding remote parking spaces and providing parking information to users. For instance, in April 2022, ParkMobile, LLC announced a partnership with Diamond Parking, a parking facility provider in the U.S. Through the partnership the former company offers contactless payments in more than 25 cities across Western Canada, Washington, Alaska, Montana, Hawaii, Oregon, Idaho, California, and Hawaii. ParkMobile will now be accessible at more than 800 Diamond Parking spots. The increasing availability of integrated automated solutions and advancements in wireless technology are anticipated to drive the adoption of parking management solutions. Moreover, parking management systems aid in increasing mobility in cities and offer a dependable revenue model. These systems use data analytics, wireless communication technology, and sensors to address parking issues in cities and metros. Parking Management Market Segmentation Grand View Research has segmented the global parking management market based on solution, service, deployment, parking site, off-street parking site, application, and region: Parking Management Market - Solution Outlook (Revenue, USD Million, 2018 - 2030)
Parking Management Market - Service Outlook (Revenue, USD Million, 2018 - 2030)
Parking Management Market - Deployment Outlook (Revenue, USD Million, 2018 - 2030)
Parking Management Market - Parking Site Outlook (Revenue, USD Million, 2018 - 2030)
Parking Management Market - Off-street Parking Site Outlook (Revenue, USD Million, 2018 - 2030)
Parking Management Market - Application Outlook (Revenue, USD Million, 2018 - 2030)
Parking Management Market - Regional Outlook (Revenue, USD Million, 2018 - 2030)
List of Key Players of the Parking Management Market
Check out more related studies published by Grand View Research:
Browse through Grand View Research's Next Generation Technologies Industry Research Reports. About Grand View Research Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead. Contact: Sherry James Logo: https://mma.prnewswire.com/media/661327/Grand_View_Research_Logo.jpg View original content:https://www.prnewswire.co.uk/news-releases/parking-management-market-to-be-worth-10-14-billion-by-2030-grand-view-research-inc-301735848.html |