Press Release

US Parking Management Systems Market to Cross $1.3 Billion by 2022

Growing vehicle fleet size and population coupled with growing demand for real time parking information and guidance to nearby parking facility is driving the parking management systems market through 2022.

According to a recently released TechSci Research report, United States Parking Management Systems Market, By Component, By Solution, By Parking Site Type, By End User, Competition Forecast and Opportunities, 2012-2022, Parking Management Systems market in United States is projected to grow to over $ 1387 million by 2022. Over 163 million vehicles were sold in 2016 globally; global vehicle sales are only expected to rise over the coming years, and the United States is no exception to this. One of the biggest factors for growth in automobile sales in the country is the rise in sale of commercial vehicles.  Moving freight tonnage via highways is a promising market in the country, with freight shipments weight expected to rise from 19,622 million tons in 2012 to over 28,520 million tons of freight by 2040. Given the increasing traffic congestion and reduction in parking spaces in both cities and highways, it is imperative for stakeholders to optimize parking facilities. Further, security of vehicles is also one of the major factor for boosting the demand for parking management systems with security and surveillance solutions as motor vehicle thefts are also rising in United States.

Figure: United States Motor Vehicle Thefts, By Volume, 2014-2015 (Unit)


Motor Vehicle Theft

Motor Vehicle Theft Rate (per 100,000 Inhabitants)







Source: Federal Bureau of Investigations

Browse 32 market data Tables and 30 Figures spread through 122 Pages and an in-depth TOC on  "United States Parking Management Systems Market"

Among different types of solutions, Access Control solutions is the major contributor to parking management systems market in terms of revenue, followed by Revenue Management which is also expected to be the fastest growing solution during forecast period. Other solutions included are Security & Surveillance, Parking Reservation Management and others. West region of the country accounted for largest revenue share in 2016 and the trend is expected to continue till 2022. North-East region is expected to be the fastest growing in United States parking management systems market during the forecast period. Among end users, Government sector and Transportation sector accounted for the highest revenue during 2012-2016 and are expected to remain the major demand generators during the forecast period.

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“With growing demand of real time parking availability and price information in addition to increasing demand revenue control management for demand based pricing and parking reservation management for pre-booking of the parking slot, the market for parking management systems is expected to increase during the forecast period.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

United States Parking Management Systems Market, By Component, By Solution, By Parking Site Type, By End User, Competition Forecast and Opportunities, 2012-2022has evaluated the future growth potential of United States parking management systems market and provides statistics and information on market structure, size, share and future growth of United States parking management systems. The report is intended to provide cutting-edge market intelligence and help decision makers to take sound investment evaluation. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities present in the United States parking management systems market.

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