Parking Management Software Market Size, Share Global Analysis Report, 2019 - 2026

Industry Insights

 According to the report published by Facts & Factors, the global Parking Management Software Market size was worth around USD 2440 million in 2019 and is predicted to grow around USD 4,350 million by 2026 with a compound annual growth rate (CAGR) of roughly 8.5% between 2020 and 2026. The report analyzes the global Parking Management Software Market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the Parking Management Software Market.

The report covers the forecast and analysis of the Parking Management Software Market on a global and regional level. The study provides historical data from 2016 to 2019 along with a forecast from 2020 to 2026 based on revenue (USD Million). The study includes drivers and restraints of the Parking Management Software Market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the Parking Management Software Market on a global level.

In order to give the users of this report a comprehensive view of the Parking Management Software Market, we have included a competitive landscape and an analysis of Porter’s Five Forces model for the market. The study encompasses a market attractiveness analysis, wherein all the segments are benchmarked based on their market size, growth rate, and general attractiveness.

Key Insights from Primary Research

• As per our primary respondents, the parking management software market will gain significant importance in the coming years owing to the global increase in the sales of the automobiles.
• According to our experts, in the type segment, the parking information system will be holding majority of the market shares which will be above 70% during the forecast period.
• Asia Pacific anticipates ranking in the top three positions in the parking management software market owing to its increased automobile production in the past decade which has increased by 50%.
• Our experts were of the opinion that owing to the growing thefts and other security problems security and surveillance parking management software will gain popularity in the coming years mostly among the car owners.
• Special parking lot category projects witnessing increased growth rate in the forecast period as per market experts.

Key Recommendations from Analysts

• Our analyst suggests that North America will dominate the parking management software market and the major contribution will be from the U.S. and Canada.
• Conclusions were made that even though Asia Pacific is not holding major shares in the market but in the forecast period increased adoption of the parking management solutions will be seen owing to increased number of vehicles in countries such as India and China.
• The global parking market has witnessed an exponential growth in revenue collection annually thus governments should focus more on public parking lots and facilities.
• Special parking lot category registers the highest growth rate of over 8% since there is an increase in the demand for luxury cars among the upper class population which demands extra safety and security.

Market Attractiveness in 2018 – By Application

The report provides company market share analysis to give a broader overview of the key players in the market. In addition, the report also covers key strategic developments of the market including acquisitions & mergers, new service launches, agreements, partnerships, collaborations & joint ventures, research & development, and regional expansion of major participants involved in the market on a global and regional basis.

The study provides a decisive view of the Parking Management Software Market by segmenting the market based on the deployment, security, end-user, and regions. All the segments have been analyzed based on present and future trends and the market is estimated from 2020 to 2026. The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Report Scope

Parking management software helps in the efficient utilization of parking resources. The efficient use of parking management software solutions helps inefficient land-use patterns for parking and other planning objectives.

Additionally, parking management software provides customers and car operators/operators with information about the car such as car-in and out time, automatic calculation of the parking fare, and easy payment options. The software provides real-time monitoring of parking space availability by the reporting and stats, facility, single space, level, and user-friendly graphical interface. This will help parking companies to serve multiple users and destinations and car owners to track the availability of car parking spaces.

Based on type, the global parking management software market is categorized into the Parking Information System and Parking Payment System. In terms of application, the market is categorized into Public Parking Lot and Special Parking Lot.

Competitive Players

The major list of industry players involved in the :

• Parking Management Software Market includes Parkalot
• Gtechna
• NEX Valet LLC
• SpotHero
• EDC Corporation
• SecurePark Technologies Inc.
• Database Works Inc.
• Skidata AG
• AirGarage Inc.
• Tomahawk Technologies Inc.

This report segments the Parking Management Software Market as follows:

By Type Analysis

• Parking Information System
• Parking Payment System

By Application

• Public Parking Lot
• Special Parking Lot

Regional Segment Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • South-East Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• The Middle-East and Africa
  • GCC Countries
  • South Africa
  • Rest of Middle-East Africa

Key Pointers Addressed by the Report

• Historical data and forecast analysis of the market
• Drivers and Restraints affecting market dynamics
• Exhaustive analysis about the future market trends
• Comprehensive information about the leading market segments and region
• Strategic developments made by the competitive players and in-depth analysis of its impact on market growth.