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Global Parking Management Solutions Market to reach USD XX million by 2028.

Global Parking Management Solutions Market Size study, By Product Type (Parking Meters-Based, Parking Kiosks-based), By Installation Location (Street Parking, Parking Venues), and Regional Forecasts 2022-2028

Product Code: ICTICTS-59341470
Publish Date: 27-05-2022
Page: 200

Global Parking Management Solutions Market is valued at approximately USDXX million in 2021 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2022-2028. A parking management solution helps in automating a car parking system. This solution offers a competent way the usage of parking resources. The adoption of efficient and effective parking management solutions helps enhance user convenience and also reduces land consumption. The growing adoption of vehicles, surging demand for parking spaces, and rising acceptance of effective traffic management solutions are the major factors = excelling the market demand across the globe. For instance, as per the World Economic Forum, it was projected that the total number of cars traveling on the road around the world would be approximately 2.0 billion by the year 2024, a rise from the number of cars in 2015 (1.1 billion). Thereby, the rising number of cars is positively influencing the global market growth in the near future. However, high initial capital investments required and a dearth of skilled professionals for the installation and maintenance of the system impede the growth of the market over the forecast period of 2022-2028. Also, the increasing adoption of parking kiosks and rising technological developments in communication and connectivity are anticipated to act as catalyzing factors for the market demand during the forecast period.

The key regions considered for the global Parking Management Solutions Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading region across the world in terms of market share owing to the presence of huge parking management solutions providers and increasing adoption of fully automated parking systems. Whereas, Asia-Pacific is anticipated to exhibit the highest CAGR over the forecast period 2022-2028. Factors such as the growing sales of automobiles, as well as increasing investments in the smart parking initiatives, would create lucrative growth prospects for the Parking Management Solutions Market across the Asia-Pacific region.

Major market players included in this report are:
METRIC Group Ltd.
Ventek International,
CivicSmart, Inc.
Parking BOXX
IPS Group, Inc.
Worldwide Parking, Inc.
J.J. MacKay Canada Ltd.
Loco Mobi, Inc.
Cale Access AB

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product Type:
Parking Meters-Based
Parking Kiosks-based
By Installation Location:
Street Parking
Parking Venues
By Region:
North America

Asia Pacific
South Korea
Latin America
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2018, 2019, 2020
Base year – 2021
Forecast period – 2022 to 2028

Target Audience of the Global Parking Management Solutions Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2028 (USD Million)
1.2.1. Parking Management Solutions Market, by Region, 2020-2028 (USD Million)
1.2.2. Parking Management Solutions Market, by Technology, 2020-2028 (USD Million)
1.2.3. Parking Management Solutions Market, by Installation Location, 2020-2028 (USD Million)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Parking Management Solutions Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Parking Management Solutions Market Dynamics
3.1. Parking Management Solutions Market Impact Analysis (2020-2028)
3.1.1. Market Drivers Growing adoption of vehicles Surging demand for parking spaces
3.1.2. Market Challenges High initial capital investments required Dearth of skilled professionals for installation and maintenance of system
3.1.3. Market Opportunities Increasing adoption of parking kiosks Rising technological developments in communication and connectivity
Chapter 4. Global Parking Management Solutions Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s 5 Force Model (2018-2028)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
4.5. Top investment opportunity
4.6. Top winning strategies
Chapter 5. Risk Assessment: COVID-19 Impact
5.1.1. Assessment of the overall impact of COVID-19 on the industry
5.1.2. Pre COVID-19 and post COVID-19 market scenario
Chapter 6. Global Parking Management Solutions Market, by Technology
6.1. Market Snapshot
6.2. Global Parking Management Solutions Market by Technology, Performance – Potential Analysis
6.3. Global Parking Management Solutions Market Estimates & Forecasts by Technology, 2018-2028 (USD Million)
6.4. Parking Management Solutions Market, Sub Segment Analysis
6.4.1. Parking meters-based
6.4.2. Parking Kiosks-based
Chapter 7. Global Parking Management Solutions Market, by Installation Location
7.1. Market Snapshot
7.2. Global Parking Management Solutions Market by Installation Location, Performance – Potential Analysis
7.3. Global Parking Management Solutions Market Estimates & Forecasts by Installation Location, 2018-2028 (USD Million)
7.4. Parking Management Solutions Market, Sub Segment Analysis
7.4.1. Street Parking
7.4.2. Parking Venues
Chapter 8. Global Parking Management Solutions Market, Regional Analysis
8.1. Parking Management Solutions Market, Regional Market Snapshot
8.2. North America Parking Management Solutions Market
8.2.1. U.S. Parking Management Solutions Market Technology breakdown estimates & forecasts, 2018-2028 Installation Location breakdown estimates & forecasts, 2018-2028
8.2.2. Canada Parking Management Solutions Market
8.3. Europe Parking Management Solutions Market Snapshot
8.3.1. U.K. Parking Management Solutions Market
8.3.2. Germany Parking Management Solutions Market
8.3.3. France Parking Management Solutions Market
8.3.4. Spain Parking Management Solutions Market
8.3.5. Italy Parking Management Solutions Market
8.3.6. Rest of Europe Parking Management Solutions Market
8.4. Asia-Pacific Parking Management Solutions Market Snapshot
8.4.1. China Parking Management Solutions Market
8.4.2. India Parking Management Solutions Market
8.4.3. Japan Parking Management Solutions Market
8.4.4. Australia Parking Management Solutions Market
8.4.5. South Korea Parking Management Solutions Market
8.4.6. Rest of Asia Pacific Parking Management Solutions Market
8.5. Latin America Parking Management Solutions Market Snapshot
8.5.1. Brazil Parking Management Solutions Market
8.5.2. Mexico Parking Management Solutions Market
8.6. Rest of The World Parking Management Solutions Market

Chapter 9. Competitive Intelligence
9.1. Top Market Strategies
9.2. Company Profiles
9.2.1. METRIC Group Ltd. Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
9.2.2. Ventek International,
9.2.3. CivicSmart, Inc.
9.2.4. Parking BOXX
9.2.5. IPS Group, Inc.
9.2.6. Flowbird
9.2.7. Worldwide Parking, Inc.
9.2.8. J.J. MacKay Canada Ltd.
9.2.9. Loco Mobi, Inc.
9.2.10. Cale Access AB
Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
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Data Collection:
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To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
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