Market Overview

Parking Management Market 2019 – 2023: Business Profit Growth Analysis, Size, Share, Industry Segments, Emerging Technologies and Global Trends

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“Parking Management Market”
Global Parking Management Market is expected to grow at approx. USD 7 Billion by 2023, at 12% of CAGR between 2017 and 2023 and Parking Management Market, By Component (Software, Service), Parking Site Type (Off Street Parking, On Street Parking), Solution (Access Control, Security, Surveillance, Valet, Revenue Management)

Parking Management Market Overview:

Transforming industrial scenario all around is hinting at an infrastructural development that requires more hand for safe operation. This increases the amount of documentation. Human Capital Management Software (HCMS) eases up this entire procedure with the assistance of information technology and simplifies workforce acquisition, management and ensures optimization of the acquired workforce to confirm the maximum benefit for the company. The global HCMS market can climb up to a stellar valuation of USD 24 billion with an overwhelming CAGR of 9% during the forecast period (2017-2023).

Market Research Future in a perceptive report documents a holistic report of the said market to have a comprehensive look at the foreseeable future. The report takes a peek into the market’s drivers and reveals that sectors such as banking, financial services, and insurance (BFSI), healthcare, manufacturing, retail, telecommunication & IT, and media & entertainment are now heavily relying on this software to get access to real-time data and also records regarding attendance and performance. Among other drivers, automated recruitment processes have proven their worth as efficient recruiters. The software can shortlist candidates, send interview invitations, confirm interview slots, which reduces the overall time, effort, and cost of the process.

However, cloud computing has its own risk as it is vulnerable to cyber attacks which can easily leak valuable information and make private documents public. This threat can hinder the smooth ride HCMS is enjoying so far.

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Competitive Analysis:

The advancement of the market is upgraded chiefly due to the reduction in promotional and miscellaneous expenses. An intensified growth pace is observed due to the productive effect exerted by the market forces both externally and internally. The progress capability of the market is bolstered by the accretive nature of the assets available in the market. The market is projected to accomplish an absolute lead in the market place owing to improved strategies in specific areas.

Additionally, the deals being coined in the market are likely to additionally inspire the development of the market in the impending years. The absorbed expenses in the Parking Management Market are readily dispensed with, opening more room for the development in the market. The companies functioning in the market are persistently taking on the hindrances to progress and are forming strategies that are projected to guide to a beneficial outcome on the market’s advancement.

The outstanding companies in the parking management market globally are Siemens AG (Germany), Kapsch TrafficCom AG (Austria), INRIX, Inc. (U.S.), XEROX Corporation (U.S.), INDIGO (France), Cubic Corporation (U.S.), AMANO Corporation (Japan), SWARCO AG (Austria), SKIDATA AG (Austria), T2 Systems, Inc. (U.S.), among others.

Segmental Analysis:

The analysis of the parking management market has been segmented on the basis of component, parking site type, region, solution and vertical. On the basis of the component, the parking management market is segmented into service and software. The software segment is additionally segmented into parking payment systems and parking information systems. The service segment is additionally segmented into support & maintenance and deployment & customization. Based on the parking site type, the parking management market is segmented into On-Street Parking and Off-Street Parking.

The segmentation of the parking management market by solution consists of security & surveillance, access control, valet parking management, parking fee & revenue management, parking fee & revenue management, parking guidance & slot management and others. Based on the verticals, the parking management market is segmented into recreation, BFSI, corporate & commercial parks, healthcare, transportation, hospitality, academia, retail, government, and others. The regions considered in the parking management market are APAC, North America, Europe and the rest of the world.

Detailed Regional Analysis:

The evaluation of the regions in the parking management market includes regions such as North America, Asia Pacific, Europe and Rest of the World.

The analysis observes that the North American region is projected to be responsible for the chief portion of the market, while the Asia Pacific region is anticipated to increase at the swiftest rate throughout the forecast period. The key development in the parking management market in the North American region can be accredited to the technology progresses and swift adoption of parking management in the region.

Industry Updates:

Mar 2019 As a result of the sale of the UK urban parking business to Off-Street Parking UK Limited (OSP), OSP president Laurent Gilles has revealed the company’s new trading name, Orbility. The company’s solutions are broadly custom-made to fit customers’ needs and comprise of lane configuration at entry and exit points, customized welcome messages, paperless ticketing, pay on foot stations, loyalty schemes, manual cashier terminals, online booking, and straightforward tariff manipulation as required.

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Table of Contents

1  Market Introduction

1.1            Introduction    

1.2            Scope of Study

1.2.1         Research Objective

1.2.2         Assumptions

1.2.3         Limitations

1.3            Market Structure

Continued….

List of Tables

Table 1 Parking Management Market, By Component

Table 2 Parking Management Market, By Parking Site Type

Table 3 Parking Management Market, By Solution

Continued….

List of Figures

Figure 1 Research Type

Figure 2 Parking Management Market, By Component (%)

Figure 3 Parking Management Market, By Parking Site Type (%)

Continued….

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