United States Parking Management Systems Market is Expected to be Dominated by Parking Reservation Management Solutions Until 2028
Increasing
number of cars and rising demand for advanced parking management systems
to drive the United States Parking Management Systems Market during the
forecast period, 2024-2028.
According
to TechSci Research report, “United
States Parking Management Systems Market – By Region, Competition Forecast & Opportunities, 2018-2028,” the United States Parking Management Systems
Market is projected to grow at a rapid pace in the forecast period. The
increase in the number of vehicles across the country, the increasing demand
for effective traffic management solutions, and the rapid development of smart
cities contribute to the expansion of this market. Due to the COVID-19
pandemic, there was a decrease in growth activities as the country enacted
strict restrictions by announcing a complete lockdown. Additionally, the
government of the United States invested in its healthcare system for virus
detection and stopping the spread, which included restriction measures such as
no gathering at public transport stations and in automobiles, delaying the
growth of United States parking management systems for a short period.
Moreover, parking management systems assist in
increasing mobility in cities and provide a reliable revenue model. These
parking management systems use wireless communication technology, data
analytics, and sensors to address parking issues in cities and metros.
Furthermore, to save customers time and minimize the excess fuel spent in
search of existing parking spots, these solutions can be used through sensors
and mobile applications that enable them to find available parking spaces.
This market is also supported by advances in
technology such as the Internet of Things (IoT), parking sensors, and
electronic payment methods. To enhance the customer experience and make them
more competitive, companies have been trying to offer a hassle-free parking
area where they can compete with others.
Organizations can set aside space, control access,
and reduce administrative overhead for parking by using real-time data and
analytics. For instance, in November 2022, Robert Bosch GmbH announced a
partnership with Mercedes-Benz to launch automated self-parking software. The
software will enable vehicles to park in reserved areas at the Stuttgart
airport parking lot.
Parking management is a cost-effective and reliable
method of reducing the time spent by drivers looking for available parking
space and alleviating traffic congestion. Moreover, to increase the demand for
parking management, the increasing acceptance of electric vehicles has made it
necessary for local authorities to install recharging points. By optimizing the
available space, parking management assists businesses in achieving their
fullest potential. The demand for parking management is expected to be driven
by features such as hassle-free booking, simple navigation, seamless customer
experience, live reports, and enforcement options.
Browse over XX market data Figures spread through XX Pages and an
in-depth TOC on "United States Parking Management Systems Market. "
The United States parking management systems market
is segmented into component, platform type, solutions, parking site type,
deployment type, end user, region, and competitive landscape. Based on
component, the market is segmented into software and services. Based on
platform type, the market is segmented into palleted and non-palleted. Based on
solutions, the market is segmented into parking guidance solutions and parking
reservation management. Based on parking site type, the market is segmented
into on-street and off-street. Based on deployment type, the market is segmented
into cloud and on-premises. Based on end user, the market is segmented into
residential, commercial, government, transportation, hospitality, retail, and
others. Based on region, the market is segmented into Northeast, Southwest,
West, Southeast, and Midwest.
Among the solutions, the parking reservation
management segment is anticipated to have the fastest growth during the
forecast period. This is mainly due to the scarcity of parking spaces for homes
and business premises. These solutions make it easier for drivers to book
parking spots and avoid any inconveniences resulting from a limited number of
spaces. The reservation management system shall consist of equipment and
software such as cameras, parking meters, and wireless sensors or automatic gates.
These measures help ensure a smooth flow of traffic
and further enhance security. It is also expected that companies implementing
this solution will have various advantages, such as better customer
experiences, customer loyalty, lower operating costs, and less human
intervention, which would, in turn, contribute to market growth.
Major market players operating in the United States
Parking Management Systems Market are:
- Conduent Inc.
- Amano McGann, Inc.
- Cubic Transportation Systems, Inc.
- T2 Systems, Inc
- Inrix Inc
- Kapsch TrafficCom USA, Inc
- IPS Group, Inc.
- TIBA LLC
- SKIDATA, Inc
- Propark Mobility
Download Free Sample Report
Customers can also request
for 10% free customization on this report.
“Some factors supporting market growth
include the rising demand for intelligent parking sensors, the increasing need
to provide parking spaces, and favorable government initiatives. The parking
management systems market has seen a sharp increase in the development of
intelligent technologies, such as parking guidance systems and automatic
loading and reservation systems. In addition to these technologies, the demand
for security and safety of parked vehicles is also rapidly increasing among
vehicle owners, propelling the procurement of a parking surveillance system.
This will create a substantial market space for parking management system companies
in the US to grow over the years," said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based global management consulting
firm.
“United States Parking Management Systems
Market By Component (Software, Service), By Platform Type (Palleted,
Non-Palleted), By Solutions (Parking Guidance Solution, Parking Reservation
Management), By Parking Site Type (On-Street & Off-Street), By Deployment
Type (Cloud, On-premises), By End User (Residential, Commercial, Government,
Transportation, Hospitality, Retail, Others), By Region, Competition Forecast
& Opportunities, 2018-2028,”
has evaluated the future growth potential of United States Parking Management
Systems Market and provides statistics & information on market size, structure,
and future market growth. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in the United States Parking
Management Systems Market.
Contact
Mr.
Ken Mathews
708
Third Avenue,
Manhattan,
NY,
New
York 10017
Tel:
+1-646-360-1656
Email: [email protected]
Website: www.techsciresearch.com