Title: Parking Management System Market - Forecast 2022-2027
1Parking Management System Market - Forecast(2022
- 2027)Market size, Industry outlook, Market
Forecast, Demand Analysis, Market Share, Market
Report 2021-2026
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- Parking Management System Market revenue is
forecast to reach 7.1 billion by 2027, at a CAGR
of 11.6 during 2022-2027. A Parking Management
system is developed in such a way that users book
their parking spots through short message
services (SMS). - The SMS sent will be processed by a wireless
communication instrumentation device called
micro-RTU (Remote Terminal Unit). The system is
fully automated with the use of the Peripheral
Interface Controller (PIC).
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Key Takeaways
- North America had dominated the global Parking
Management System market in 2020 with a share of
around 38 and is analyzed to maintain a
significant growth during 2021-2026, owing to the
increasing number of vehicles in the region. - Mobile-based solutions segment is analyzed to
grow with the highest CAGR of 25.6 in the global
Parking Management System market during the
forecast period 2021-2026. These mobile based
solutions provide greater efficiency when
compared to other modes of Parking Management
solutions.
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- By Distribution Channel- Segment Analysis
- In Parking Management System market research,
Mobile-based solutions segment is analysed to
grow with the highest CAGR of 25.6 in the global
Parking Management System market outlook during
the forecast period 2022-2027. This mobile-based
solutions provide greater efficiency when
compared to other modes of Parking Management
solutions, in terms of retrieving real-time
parking availability and related packages.
Moreover, with the rise in penetration of
smartphones and the internet, the governments and
the organizations are introducing many digital
initiatives.
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- Parking Management System Market
- Industry OutlookÂ
- Amano
- Group Indigo
- Smart Parking
- Conduent
- Precise ParkLink
- Verra Mobility
- SkiData
- ParkMobile
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