With a growing number of vehicles worldwide, parking problems in urban areas have become even worse, and traditional parking management solutions have proven unsuccessful in dealing with the issues. Authorities are looking for advanced ways to improve parking space use and reduce traffic congestion to solve these issues.

The increasing use of smartphones is also propelling the parking management market forward. The parking management software uses standard smartphone features, including the built-in camera, GPS, and Near Field Communication (NFC) to locate empty parking spaces in the driver's area. It allows customers to reserve parking spaces in advance; saving time wasted searching for available spots.

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The Parking Management Market research report titled “Parking Management Market by Parking Site, Application, Service, Solution, and Geography – Global Forecast to 2026.”

The parking management market's top-notch vendors include - 3M, Amano Corporation, Cubic Corporation, IBM Corporation, Kapsch TrafficCom, Siemens, SKIDATA AG, Swarco, T2 Systems.

North America is considered the leading region in the parking management market share. Commercial institutions and government bodies, such as town centers and airports, have made significant investments in creating effective parking management systems. Furthermore, the growing use of parking assistance features in advanced driver assistance systems has helped the market's expansion.

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The report consists of 125 Tables and 86 charts depicting the in-depth market study and the impact analysis of COVID-19. View detailed TOC here.

Parking Management Market, by Parking Site

• Off-street
• On-street
  • Garage
  • Lot

Parking Management Market, by Application

• Commercial
• Government
• Transport Transit

Parking Management Market, by Service

• System Integration & Deployment
• Support & Maintenance
• Consulting Services

Parking Management Market, by Solution

• Revenue Management
• Parking Reservation Management
• Valet Parking Management
• Access Control
• Security & Surveillance
• Others

Parking Management Market, by Geography:

• North America
• Europe
• Asia Pacific
• Rest of the World