The North America Parking Management Market would witness market growth of 9.5% CAGR during the forecast period (2022-2028).
As wireless technology advances and integrated automated solutions become more widely available, parking management solutions are expected to become more popular. In addition to increasing mobility in urban areas, parking management systems also provide a consistent revenue stream. A wide range of sensors, wireless communication technologies, and data analytics are used to solve parking problems in cities and metros. A sensor and mobile application can also be used to find available parking spots, saving clients' time and reducing gasoline consumption.
Infill and smart growth are both promoted by parking management, which reduces the amount of land necessary for parking facilities, decreases the amount of driving, and makes infill more affordable. Thus, these land-use patterns tend to reduce the number of vehicles owned and used, which in turn reduces the need for parking. A range of parking pricing options are available, as well as the ability to switch modes.
The usage of off-site carparks is referred to as remote parking sometimes known as satellite parking. This frequently involves shared resources, like office workers utilizing a restaurant's parking lot during the day in exchange for restaurant staff using the office car park on the weekends and after hours. It might entail using public resources, including parking lots used by businesses.
Modern parking technologies such as Multi-space use meters that are more efficient than individual parking meters, State-of-the-art processes can modify pricing based on tenancy, offer motorcyclists knowledge about available parking spaces and recognize a wide variety of payment options are continuing to drive the growth of the market in North America. Additionally, parking's effects on the environment and air quality have come to the attention of U.S. transportation planners. For instance, as part of State Implementation Plans, the U.S. Department of Transportation (DOT) and Environmental Protection Agency (EPA) are drafting parking master plans for non-attainment zones for smog and particulate matter (SIPs).
As the car sector grows, there would be a greater demand for parking management in Mexico. According to OICA 2019, Mexico produced 3.98 million vehicles in total, including 1.38 million passenger cars and 2.6 million commercial vehicles. Mexico's expanding population, better quality of life, and proximity to the United States have all benefited the country's automotive industry.
The US market dominated the North America Parking Management Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1,909.4 million by 2028. The Canada market is anticipated to grow at a CAGR of 12% during (2022 - 2028). Additionally, The Mexico market would showcase a CAGR of 11% during (2022 - 2028).
Based on Offering, the market is segmented into Solution (Revenue Management, Parking Reservation Management, Access Control, Security & Surveillance, and Valet Parking Management & Others) and Services. Based on Application, the market is segmented into Government, Commercial, and Transport Transit. Based on Deployment Mode, the market is segmented into On-premise and Cloud. Based on Parking Site, the market is segmented into Off-Street and On-Street. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Parking Management Market is Estimated to reach $7.8 Billion by 2028, at a CAGR of 10.9%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include 3M Company, IBM Corporation, Cubic Corporation, Siemens AG, Kapsch TrafficCom AG, Robert Bosch GmbH, Conduent, Incorporated, T2 Systems, Inc., SWARCO AG, and Amano Corporation.
Scope of the Study
Market Segments Covered in the Report:
By Offering
- Solution
- Revenue Management
- Parking Reservation Management
- Access Control
- Security & Surveillance
- Valet Parking Management & Others
- Services
By Application
- Government
- Commercial
- Transport Transit
By Deployment Mode
By Country
- US
- Canada
- Mexico
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- 3M Company
- IBM Corporation
- Cubic Corporation
- Siemens AG
- Kapsch TrafficCom AG
- Robert Bosch GmbH
- Conduent, Incorporated
- T2 Systems, Inc.
- SWARCO AG
- Amano Corporation
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 North America Parking Management Market, by Offering
1.4.2 North America Parking Management Market, by Application
1.4.3 North America Parking Management Market, by Deployment Mode
1.4.4 North America Parking Management Market, by Parking Site
1.4.5 North America Parking Management Market, by Country
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market composition and scenarios
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Strategies deployed in Parking Management Market
Chapter 4. North America Parking Management Market by Offering
4.1 North America Solution Market by Country
4.2 North America Parking Management Market by Solution Type
4.2.1 North America Revenue Management Market by Country
4.2.2 North America Parking Reservation Management Market by Country
4.2.3 North America Access Control Market by Country
4.2.4 North America Security & Surveillance Market by Country
4.2.5 North America Valet Parking Management & Others Market by Country
4.3 North America Services Market by Country
Chapter 5. North America Parking Management Market by Application
5.1 North America Government Market by Country
5.2 North America Commercial Market by Country
5.3 North America Transport Transit Market by Country
Chapter 6. North America Parking Management Market by Deployment Mode
6.1 North America On-premise Market by Country
6.2 North America Cloud Market by Country
Chapter 7. North America Parking Management Market by Parking Site
7.1 North America Off-Street Market by Country
7.2 North America On-Street Market by Country
Chapter 8. North America Parking Management Market by Country
8.1 US Parking Management Market
8.1.1 US Parking Management Market by Offering
8.1.1.1 US Parking Management Market by Solution Type
8.1.2 US Parking Management Market by Application
8.1.3 US Parking Management Market by Deployment Mode
8.1.4 US Parking Management Market by Parking Site
8.2 Canada Parking Management Market
8.2.1 Canada Parking Management Market by Offering
8.2.1.1 Canada Parking Management Market by Solution Type
8.2.2 Canada Parking Management Market by Application
8.2.3 Canada Parking Management Market by Deployment Mode
8.2.4 Canada Parking Management Market by Parking Site
8.3 Mexico Parking Management Market
8.3.1 Mexico Parking Management Market by Offering
8.3.1.1 Mexico Parking Management Market by Solution Type
8.3.2 Mexico Parking Management Market by Application
8.3.3 Mexico Parking Management Market by Deployment Mode
8.3.4 Mexico Parking Management Market by Parking Site
8.4 Rest of North America Parking Management Market
8.4.1 Rest of North America Parking Management Market by Offering
8.4.1.1 Rest of North America Parking Management Market by Solution Type
8.4.2 Rest of North America Parking Management Market by Application
8.4.3 Rest of North America Parking Management Market by Deployment Mode
8.4.4 Rest of North America Parking Management Market by Parking Site
Chapter 9. Company Profiles
9.1 3M Company
9.1.1 Company Overview
9.1.2 Financial Analysis
9.1.3 Segmental and Regional Analysis
9.1.4 Research & Development Expense
9.1.5 SWOT Analysis
9.2 IBM Corporation
9.2.1 Company Overview
9.2.2 Financial Analysis
9.2.3 Regional & Segmental Analysis
9.2.4 Research & Development Expenses
9.2.5 SWOT Analysis
9.3 Cubic Corporation
9.3.1 Company Overview
9.3.2 Financial Analysis
9.3.3 Segmental and Regional Analysis
9.3.4 Research and Development Expense
9.3.5 Recent strategies and developments:
9.3.5.1 Acquisition and Mergers:
9.4 Siemens AG
9.4.1 Company Overview
9.4.2 Financial Analysis
9.4.3 Segmental and Regional Analysis
9.4.4 Research & Development Expense
9.4.5 Recent strategies and developments:
9.4.5.1 Partnerships, Collaborations, and Agreements:
9.4.5.2 Acquisition and Mergers:
9.4.6 SWOT Analysis
9.5 Kapsch TrafficCom AG (Datax Handelsgmbh)
9.5.1 Company Overview
9.5.2 Financial Analysis
9.5.3 Segmental and Regional Analysis
9.5.4 Research & Development Expense
9.5.5 Recent strategies and developments:
9.5.5.1 Acquisition and Mergers:
9.6 Robert Bosch GmbH
9.6.1 Company Overview
9.6.2 Financial Analysis
9.6.3 Segmental and Regional Analysis
9.6.4 Research & Development Expense
9.6.5 SWOT Analysis
9.7 Conduent, Incorporated
9.7.1 Company Overview
9.7.2 Financial Analysis
9.7.3 Segmental and Regional Analysis
9.7.4 Research & Development Expense
9.8 T2 Systems, Inc. (Verra Mobility Corporation)
9.8.1 Company Overview
9.8.2 Financial Analysis
9.8.3 Segmental Analysis
9.8.4 Recent strategies and developments:
9.8.4.1 Product Launches and Product Expansions:
9.8.4.2 Acquisition and Mergers:
9.9 SWARCO AG
9.9.1 Company Overview
9.9.2 Recent strategies and developments:
9.9.2.1 Partnerships, Collaborations, and Agreements:
9.9.2.2 Product Launches and Product Expansions:
9.9.2.3 Acquisition and Mergers:
9.10. Amano Corporation
9.10.1 Company Overview
9.10.2 Financial Analysis
9.10.3 Segmental and Regional Analysis
9.10.4 Recent strategies and developments:
9.10.4.1 Acquisition and Mergers:
TABLE 1 North America Parking Management Market, 2018 - 2021, USD Million
TABLE 2 North America Parking Management Market, 2022 - 2028, USD Million
TABLE 3 North America Parking Management Market by Offering, 2018 - 2021, USD Million
TABLE 4 North America Parking Management Market by Offering, 2022 - 2028, USD Million
TABLE 5 North America Solution Market by Country, 2018 - 2021, USD Million
TABLE 6 North America Solution Market by Country, 2022 - 2028, USD Million
TABLE 7 North America Parking Management Market by Solution Type, 2018 - 2021, USD Million
TABLE 8 North America Parking Management Market by Solution Type, 2022 - 2028, USD Million
TABLE 9 North America Revenue Management Market by Country, 2018 - 2021, USD Million
TABLE 10 North America Revenue Management Market by Country, 2022 - 2028, USD Million
TABLE 11 North America Parking Reservation Management Market by Country, 2018 - 2021, USD Million
TABLE 12 North America Parking Reservation Management Market by Country, 2022 - 2028, USD Million
TABLE 13 North America Access Control Market by Country, 2018 - 2021, USD Million
TABLE 14 North America Access Control Market by Country, 2022 - 2028, USD Million
TABLE 15 North America Security & Surveillance Market by Country, 2018 - 2021, USD Million
TABLE 16 North America Security & Surveillance Market by Country, 2022 - 2028, USD Million
TABLE 17 North America Valet Parking Management & Others Market by Country, 2018 - 2021, USD Million
TABLE 18 North America Valet Parking Management & Others Market by Country, 2022 - 2028, USD Million
TABLE 19 North America Services Market by Country, 2018 - 2021, USD Million
TABLE 20 North America Services Market by Country, 2022 - 2028, USD Million
TABLE 21 North America Parking Management Market by Application, 2018 - 2021, USD Million
TABLE 22 North America Parking Management Market by Application, 2022 - 2028, USD Million
TABLE 23 North America Government Market by Country, 2018 - 2021, USD Million
TABLE 24 North America Government Market by Country, 2022 - 2028, USD Million
TABLE 25 North America Commercial Market by Country, 2018 - 2021, USD Million
TABLE 26 North America Commercial Market by Country, 2022 - 2028, USD Million
TABLE 27 North America Transport Transit Market by Country, 2018 - 2021, USD Million
TABLE 28 North America Transport Transit Market by Country, 2022 - 2028, USD Million
TABLE 29 North America Parking Management Market by Deployment Mode, 2018 - 2021, USD Million
TABLE 30 North America Parking Management Market by Deployment Mode, 2022 - 2028, USD Million
TABLE 31 North America On-premise Market by Country, 2018 - 2021, USD Million
TABLE 32 North America On-premise Market by Country, 2022 - 2028, USD Million
TABLE 33 North America Cloud Market by Country, 2018 - 2021, USD Million
TABLE 34 North America Cloud Market by Country, 2022 - 2028, USD Million
TABLE 35 North America Parking Management Market by Parking Site, 2018 - 2021, USD Million
TABLE 36 North America Parking Management Market by Parking Site, 2022 - 2028, USD Million
TABLE 37 North America Off-Street Market by Country, 2018 - 2021, USD Million
TABLE 38 North America Off-Street Market by Country, 2022 - 2028, USD Million
TABLE 39 North America On-Street Market by Country, 2018 - 2021, USD Million
TABLE 40 North America On-Street Market by Country, 2022 - 2028, USD Million
TABLE 41 North America Parking Management Market by Country, 2018 - 2021, USD Million
TABLE 42 North America Parking Management Market by Country, 2022 - 2028, USD Million
TABLE 43 US Parking Management Market, 2018 - 2021, USD Million
TABLE 44 US Parking Management Market, 2022 - 2028, USD Million
TABLE 45 US Parking Management Market by Offering, 2018 - 2021, USD Million
TABLE 46 US Parking Management Market by Offering, 2022 - 2028, USD Million
TABLE 47 US Parking Management Market by Solution Type, 2018 - 2021, USD Million
TABLE 48 US Parking Management Market by Solution Type, 2022 - 2028, USD Million
TABLE 49 US Parking Management Market by Application, 2018 - 2021, USD Million
TABLE 50 US Parking Management Market by Application, 2022 - 2028, USD Million
TABLE 51 US Parking Management Market by Deployment Mode, 2018 - 2021, USD Million
TABLE 52 US Parking Management Market by Deployment Mode, 2022 - 2028, USD Million
TABLE 53 US Parking Management Market by Parking Site, 2018 - 2021, USD Million
TABLE 54 US Parking Management Market by Parking Site, 2022 - 2028, USD Million
TABLE 55 Canada Parking Management Market, 2018 - 2021, USD Million
TABLE 56 Canada Parking Management Market, 2022 - 2028, USD Million
TABLE 57 Canada Parking Management Market by Offering, 2018 - 2021, USD Million
TABLE 58 Canada Parking Management Market by Offering, 2022 - 2028, USD Million
TABLE 59 Canada Parking Management Market by Solution Type, 2018 - 2021, USD Million
TABLE 60 Canada Parking Management Market by Solution Type, 2022 - 2028, USD Million
TABLE 61 Canada Parking Management Market by Application, 2018 - 2021, USD Million
TABLE 62 Canada Parking Management Market by Application, 2022 - 2028, USD Million
TABLE 63 Canada Parking Management Market by Deployment Mode, 2018 - 2021, USD Million
TABLE 64 Canada Parking Management Market by Deployment Mode, 2022 - 2028, USD Million
TABLE 65 Canada Parking Management Market by Parking Site, 2018 - 2021, USD Million
TABLE 66 Canada Parking Management Market by Parking Site, 2022 - 2028, USD Million
TABLE 67 Mexico Parking Management Market, 2018 - 2021, USD Million
TABLE 68 Mexico Parking Management Market, 2022 - 2028, USD Million
TABLE 69 Mexico Parking Management Market by Offering, 2018 - 2021, USD Million
TABLE 70 Mexico Parking Management Market by Offering, 2022 - 2028, USD Million
TABLE 71 Mexico Parking Management Market by Solution Type, 2018 - 2021, USD Million
TABLE 72 Mexico Parking Management Market by Solution Type, 2022 - 2028, USD Million
TABLE 73 Mexico Parking Management Market by Application, 2018 - 2021, USD Million
TABLE 74 Mexico Parking Management Market by Application, 2022 - 2028, USD Million
TABLE 75 Mexico Parking Management Market by Deployment Mode, 2018 - 2021, USD Million
TABLE 76 Mexico Parking Management Market by Deployment Mode, 2022 - 2028, USD Million
TABLE 77 Mexico Parking Management Market by Parking Site, 2018 - 2021, USD Million
TABLE 78 Mexico Parking Management Market by Parking Site, 2022 - 2028, USD Million
TABLE 79 Rest of North America Parking Management Market, 2018 - 2021, USD Million
TABLE 80 Rest of North America Parking Management Market, 2022 - 2028, USD Million
TABLE 81 Rest of North America Parking Management Market by Offering, 2018 - 2021, USD Million
TABLE 82 Rest of North America Parking Management Market by Offering, 2022 - 2028, USD Million
TABLE 83 Rest of North America Parking Management Market by Solution Type, 2018 - 2021, USD Million
TABLE 84 Rest of North America Parking Management Market by Solution Type, 2022 - 2028, USD Million
TABLE 85 Rest of North America Parking Management Market by Application, 2018 - 2021, USD Million
TABLE 86 Rest of North America Parking Management Market by Application, 2022 - 2028, USD Million
TABLE 87 Rest of North America Parking Management Market by Deployment Mode, 2018 - 2021, USD Million
TABLE 88 Rest of North America Parking Management Market by Deployment Mode, 2022 - 2028, USD Million
TABLE 89 Rest of North America Parking Management Market by Parking Site, 2018 - 2021, USD Million
TABLE 90 Rest of North America Parking Management Market by Parking Site, 2022 - 2028, USD Million
TABLE 91 Key Information – 3M Company
TABLE 92 Key information – IBM Corporation
TABLE 93 Key Information – Cubic Corporation
TABLE 94 Key Information – Siemens AG
TABLE 95 Key Information – Kapsch TrafficCom AG
TABLE 96 key information – Robert Bosch GmbH
TABLE 97 Key Information –Conduent, Incorporated
TABLE 98 Key Information – T2 Systems, Inc.
TABLE 99 Key Information – SWARCO AG
TABLE 100 Key Information – Amano Corporation
List of Figures
FIG 1 Methodology for the research
FIG 2 SWOT Analysis: 3M Company
FIG 3 Swot analysis: IBM Corporation
FIG 4 Swot analysis: Siemens AG
FIG 5 Swot analysis: Robert Bosch GmbH
FIG 6 Recent strategies and developments: SWARCO AG