Parking Management Market Report Forecasts Healthy Growth by 2022

Parking management comprises several programs and policies which result in effective utilization of parking services. The ever increasing global number of vehicles is worsening the issue of already acute shortage of parking space, especially in metropolitan areas. This is due to growing urban revitalization, explosive semi-urban development and an upward trend of mobility in our society. Drivers failing to find adequate parking space is at the base of traffic congestion problems. These problems pave the path for efficient and smart parking management systems that would provide advanced levels of automation and convenience to drivers, besides simplifying administrative functions and business operations of parking space owners.

The report tracks the major market events including product launches, technological developments, mergers & acquisitions, and the innovative business strategies opted by key market players. Along with strategically analyzing the key micro markets, the report also focuses on industry-specific drivers, restraints, opportunities and challenges in the Parking Management Market. The scope of this report covers the Parking Management Market by its major segments, which include the types, applications, and the major geographic regions.

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KEY PREMIUM INDUSTRY INSIGHTS

An increase in the number of vehicles across the world is impelling the demand for an effective system to counter the parking concerns. The issues of traffic congestion are rising momentously across the world, impelling the need for effective and flexible park-assist solutions.

The adoption of these solutions offers enhanced scalability and flexibility to efficiently tackle the car owners’ woes. Poor administration leads to overcrowding of vehicles, resulting in traffic congestion. It further increases air and noise pollution. Technological advancements, such as the smart-parking systems, are expected to boost the industry growth.

New, innovative infrastructure assists in providing real-time information regarding the availability of space, subsequently saving time, fuel, and cost. The escalating adoption of park-assist systems at avenues such as corporate campuses, airports, and shopping complexes, among others is projected to energize the market growth.

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KEY MARKET PLAYERS

Key players in the Parking Management Market include:

Xerox Corporation, Siemens AG, Kapsch Trafficcom AG, Amano Corporation, Cubic Corporation, Swarco AG, Inrix, Inc., Indigo, T2 Systems, Inc., Skidata AG.

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