Parking Management System Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2017-2021 and Forecast 2022-2028

Description

Parking Management System Market size is valued at USD 4.01 billion in 2021 and is expected to reach USD 5.76 million by 2028, at a CAGR of 5.4% during the forecast period 2022-2028. The parking management system encompasses a variety of rules and activities that result in more efficient parking resource utilisation. The access control system, revenue management, security system, boom barrier, and statistical information are all part of the parking management system, and the market analysis includes deployment types like On-premises and Cloud, as well as Parking Sites like Off-street and On-street. On-street parking refers to spaces where vehicles are parked on the sides of the road. On-street parking management is expected to achieve goals using a variety of techniques, including creating parking spaces, facilities, and signage, limiting access to particular groups, setting a time restriction, charging fees, ensuring compliance with all the arrangements, and monitoring success. Government entities normally control the majority of on-street parking spaces. Most commuters prefer on-street parking since it is convenient and economical. Off-street parking, despite being an organised and safe parking option, has trailed behind due to excessive parking prices, resulting in low occupancy levels. this report studies global Market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, The global Parking Management System Market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global Parking Management System Market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product opportunities).