Market Study: Parking Management Market - Worldwide Market Forecasts & Analysis (2013 - 2018)


Access Control, Security and Surveillance, Revenue Management, Reservation Management, Valet Management, Enforcement and Permit Management, Guidance and Slot Management


[UKPRwire, Fri Oct 11 2013] The world is moving towards intelligent transportation systems, which is broadening the space for smarter ways of parking. With advanced parking management systems, the parking spots operators can offer their customers various parking conveniences such as minimal time wastage, cashless and contactless payment options, enhanced vehicle security, and options for pre-booking parking spots. The parking management systems are also useful for ensuring security through vehicle and cargo surveillance, vehicle registration, and dynamic parking tariff management. These customer-centric and business operation-centric advantages are making parking management system extremely lucrative. The major companies who are focusing on the parking management sector are Affiliated Computer Services, 3M, Siemens, HCL, Cubic Corporation, T2 Systems, SKIDATA, and various others.

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The ongoing and upcoming smart city projects worldwide are creating business opportunities for smart parking management systems. The high growth rate in the number of vehicles in the regional economies such as Asia Pacific (APAC) and Latin America is also expected to enhance the business potential of the parking management industry. License Plate Recognition (LPR)-based technologies are gaining high popularity in the parking management sector. The major LPR-based parking management solutions such as Automatic Vehicle Identification (AVI) and Pay-by-Plate are expected to experience high adoption rate reducing the market share of the traditional technologies used in parking access control and revenue management.

This report speaks about the expected market revenue for the various software and hardware components involved in parking management system. It also highlights the revenue potential of the various professional services offered by the parking management vendors. The report represents the business potential of parking management systems in different types of parking sites such as on-street parking and off-street parking facilities. The report consists of the opportunity analysis of various types of parking management solutions such as access control, security and surveillance, parking fee and revenue management, parking reservation management, valet parking management, parking enforcement and permit management, and parking guidance and slot management. The report explores business potential of parking management solutions across varied industry verticals such as academia, government and municipalities, transportation, recreation, healthcare, hospitality, retail, corporate and commercial parks, and Banking, Financial Services, and Insurance (BFSI).

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