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Parking Management Systems Market Growth Prospects, Key Vendors, Future Scenario Forecast to 2026

Author : Market Study Report | Published Date : 2020-12-08 

The latest report pertaining to ‘Parking Management Systems Market’ collated by Market Study Report, LLC, provides a detailed analysis regarding market size, revenue estimations and growth rate of the industry. In addition, the report illustrates the major obstacles and newest growth strategies adopted by leading manufacturers who are a part of the competitive landscape of this market.

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The worldwide Parking Management Systems market is anticipated to reach around USD 9,786 million by 2026 according to a new research. In 2017, the hardware segment dominated the global market, in terms of revenue. In 2017, North America accounted for the majority share in the global market.

In 2017, North America accounted for the highest share in the global parking management systems market. The growing need to streamline traffic flow coupled with introduction of stringent regulations regarding vehicular safety accelerate the adoption of parking management system in the region. The high living standards and disposable income further increases the demand of luxury automobiles in the region. The increasing development of smart cities in the region, and development of autonomous vehicles would provide growth opportunities during the forecast period.

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The significant increase in the demand for luxury passenger cars coupled with significant growth in sale of motor vehicles across the world boosts the growth of parking management systems market during the forecast period. Additionally, the increasing need to improve road safety, and streamline traffic flow in populated urban areas supports the market growth. The growing demand for passenger vehicles owing to increasing disposable income, and changing lifestyles, coupled with modernization of vehicles support the growth of the parking management systems market. The increasing development of autonomous and semi-autonomous vehicles, and rising penetration of mobile devices boost the adoption of parking management systems. However, high costs of implementing parking management systems would restrict the market growth during the forecast period. New emerging markets, and growing adoption of smart cities would provide growth opportunities for parking management systems market in the coming years.

The major players of the parking management systems market include Skyline Parking AG, Siemens AG, T2 Systems, IBM Corporation, Swarco Corporation, Kapsch TrafficCom, Skidata, Passport Inc., SAP, and Indigo Park Services. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.

Parking Management Systems Market share by Major regions included:

United States
North America
Asia Pacific
Europe
Middle East & Africa

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Table of Contents

1.Overview and Scope
1.1.Research goal & scope
1.2.Research assumptions
1.3.Research Methodology
1.3.1.Primary data sources
1.3.2.Secondary data sources
1.4.Key take-away
1.5.Stakeholders

2.Executive Summary
2.1.Market Definition
2.2.Market Segmentation
3.Parking Management Systems Market Insights
3.1.Parking Management Systems – Industry snapshot
3.2.Parking Management Systems - Ecosystem analysis
3.3.Parking Management Systems Market Dynamics
3.3.1.Parking Management Systems – Market Forces
3.3.1.1.Parking Management Systems Market Driver Analysis
3.3.1.2.Parking Management Systems Market Restraint/Challenges analysis
3.3.1.3.Parking Management Systems Market Opportunity Analysis
3.4.Industry analysis - Porter's five force
3.4.1.Bargaining power of supplier
3.4.2.Bargaining power of buyer
3.4.3.Threat of substitute
3.4.4.Threat of new entrant
3.4.5.Degree of competition
3.5.Parking Management Systems Market PEST Analysis, 2016
3.6.Parking Management Systems Market Value Chain Analysis
3.7.Parking Management Systems Industry Trends
3.8.Competitive Ranking Analysis
4.Parking Management Systems Market Size and Forecast by Component, 2018-2026
4.1.Key Findings
4.2.Hardware
4.3.Software
4.4.Services
5.Parking Management Systems Market Size and Forecast by Deployment, 2018-2026
5.1.Key Findings
5.2.On-Premise
5.3.Cloud
6.Parking Management Systems Market Size and Forecast by Parking Site, 2018-2026

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