Parking Management Systems Market Size, Share, Trends, Industry Analysis Report: By Offering (Solutions and Services), Parking Site, End Users and Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) – Market Forecast, 2025–2034
- Published Date:Nov-2024
- Pages: 124
- Format: PDF
- Report ID: PM1411
- Base Year: 2024
- Historical Data: 2020-2023
Parking Management Systems Market Overview
The parking management systems market size was valued at USD 5.59 billion in 2024. The market is projected to grow from USD 5.99 billion in 2025 to USD 11.29 billion by 2034, exhibiting a CAGR of 7.3% from 2025 to 2034.
Parking management systems encompass a range of technologies and services aimed at optimizing parking space utilization. These include hardware such as sensors and payment kiosks, as well as real-time monitoring and reservation software. Additionally, it involves various services like installation and maintenance.
Rising urbanization in developing nations is driving the parking management systems market growth. Increased population density and vehicle ownership in cities have led to heightened competition for limited parking spaces, exacerbating traffic congestion as residents spend more time searching for spots. For instance, according to the World Economic Forum, in 2020, urban areas comprised 56.2% of the global population. As urbanization continues, the need for parking spaces escalates, particularly in high-density urban areas. This necessitates the development of advanced parking solutions to address the significant challenges associated with parking in densely populated areas.
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Parking Management Systems Market Trends and Drivers Analysis
Technological Advancements
The integration of Internet of Things (IoT) devices and artificial intelligence (AI) is driving the parking management systems market. Smart sensors deployed in parking spaces provide real-time availability data, reducing search times and traffic congestion. Mobile applications allow users to locate, reserve, and pay for parking spots while enabling dynamic pricing models based on demand. Data analytics play a crucial role in analyzing usage patterns, peak times, and revenue trends, providing valuable insights for infrastructure investments and policy changes. Advancements in license plate recognition technology have automated access control and billing, improving overall efficiency by eliminating the need for physical tickets and manual payments. For instance, in September 2023, TIBA Parking Systems R&D introduced the X60 Ticketless Solution. This highly customizable solution utilizes license plate recognition technology to optimize traffic flow, enabling swift entry and exit while reducing congestion and wait times for customers and facility operations. Therefore, technological advancements in parking management systems are driving market growth.
Increasing Vehicle Ownership
The parking management systems market is driven by increasing vehicle ownership. Vehicle ownership necessitates the implementation of advanced parking management systems to utilize limited space and improve user experience efficiently. For instance, as per data published by the World Economic Forum, the number of cars on roads is projected to reach the two billion mark by 2040.
Parking Management Systems Market Segment Analysis
Parking Management Systems Market Assessment by Offering
The parking management systems market segmentation, based on offering, includes solutions and services. The solution segment held the largest revenue share of the market due to rapid urbanization and the growing need for optimized parking space utilization. This has led to the evolution of parking systems through the integration of smart devices, IoT sensors, real-time data analysis, and AI algorithms. For instance, in June 2024, Verra Mobility Corporation, a mobility technology solution, and Hayden AI, a provider of artificial intelligence and spatial analytics, announced a strategic partnership aimed at delivering advanced technology solutions to customers throughout the United States. Through this collaboration, the two companies will introduce an integrated technology platform focused on enhancing road safety, sustainability, and the reliability and accessibility of public transit. The partnership will harness Hayden AI's mobile perception technology and Verra Mobility's expertise in customer integration to offer cities and transit agencies a top-tier program for automated enforcement solutions, including bus lanes, bike lanes, bus stops, and double-parking enforcement. Therefore, the parking guidance segment is driving the parking management systems market.
Parking Management Systems Market Evaluation by End Users
The parking management systems market segmentation, based on end users, includes residential, commercial, industrial, and others. The commercial segment is projected to register a significant CAGR in the market due to the increasing demand for efficient and effective parking solutions in urban environments. As cities face heightened congestion and limited parking availability, businesses are investing in advanced parking management systems to enhance customer experience and streamline operations. For instance, in August 2019, the City of Greenville chose TIBA Parking Systems to implement customer service-oriented operations in 11 city-owned garages and one surface lot, which collectively feature 60 entry and exit lanes. Currently, the city manages 11 parking facilities in the Central Business District, encompassing a total of 60 lanes and around 8,000 parking spaces. In addition, the city's parking facilities serve six downtown hotels representing three hotel brands. The project will involve implementing License Plate Recognition, Access Credentials, IP-based intercom, a combination of full-service pay and credit-only lanes, offline validations, and the Smart Sticker Parker Program. Thus, the commercial segment is driving the parking management systems market.
Parking Management Systems Market Breakdown by Regional Insights
By region, the study provides the parking management systems market insights into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America accounted for the largest revenue share due to high vehicle ownership and advanced infrastructure. The significant players in the region are engaging in mergers and acquisitions to improve their footprint in the parking management systems market within this region. For instance, in February 2021, TIBA Parking Systems, a parking and mobility technology provider and a member of the FAAC Group, announced the acquisition of the Parking Access and Revenue Control System (PARCS) segment of Associated Time Instruments (ATI), based in Dallas, Texas. This strategic move underlines TIBA Parking's dedication to establishing a robust local footprint in all markets.
Asia Pacific is projected to register a substantial CAGR from 2025 to 2034, owing to the increasing adoption of automobiles and the growing automotive sector. The parking management systems market in India is expected to have significant growth due to urbanization and escalating traffic congestion. Commercial establishments are increasingly adopting parking management systems to streamline customer and staff parking, thereby minimizing the time spent searching for parking spaces. For instance, in June 2024, DESIGNA INDIA successfully obtained a contract to deliver, set up, conduct testing, and initiate a parking management system at HiLite Mall, Thrissur. The incorporation of parking management systems in commercial facilities not only tackles the pressing issue of parking limitations but also supports larger objectives of enhancing customer experience, maximizing resource usage, and enhancing operational efficiency. Therefore, the increasing adoption of parking management systems is anticipated to propel the parking management systems market growth in the region.
Parking Management Systems Market – Key Players & Competitive Analysis Report
The parking management systems market is a dynamic and rapidly evolving environment with several players striving to innovate and differentiate from each other. Major global companies are dominating the market by leveraging advanced technologies and broad distribution networks to maintain a competitive edge. The players are engaged in strategic activities such as mergers and acquisitions, partnerships, and collaborations to enhance their portfolios and expand their market presence.
Additionally, startups are contributing to the market by introducing novel technologies in parking management systems. This competitive scenario is further intensified by ongoing advancements in technology are growing demand for parking management systems. Major players in the parking management systems market are Amano, SWARCO, SKIDATA, Chetu, INRIX, FAAC Technologies, TIBA Parking Systems, FlashParking, Passport Labs, Get My Parking, and DESIGNA.
FAAC Technologies, established in Italy, is a provider of automated access and parking management solutions. The company specializes in the design and manufacture of a diverse array of products, including barriers, gates, and advanced parking management systems. FAAC's product line encompasses automated payment solutions, ticketing systems, and real-time monitoring capabilities, all geared towards optimizing operational efficiency and user experience. Their access control solutions are engineered for seamless integration with other technologies, such as surveillance systems and building management solutions, to deliver comprehensive security and operational effectiveness. With a robust international presence, FAAC caters to a global customer base through its network of subsidiaries and strategic partnerships across multiple countries. In December 2020, FAAC completed the acquisition of TIBA Parking Systems, further solidifying its foothold in the parking management systems segment.
FlashParking, headquartered in Austin, Texas, specializes in cloud-based parking management solutions. Established in 2011, the company offers a centralized platform that enables real-time facility management, providing valuable insights into occupancy levels, revenue tracking, and operational efficiency. FlashParking's user-friendly mobile applications allow customers to locate and reserve parking spaces easily, make payments, and receive notifications, enhancing convenience and accessibility. In addition, the company provides automated payment and access control systems, including license plate recognition and digital payment options, that streamline entry and exit processes. In August 2024, the City and County of Denver awarded a contract to Flash for an overhaul of public and employee parking at Denver International Airport (DEN). Flash successfully deployed its platform across the airport’s nine public and employee parking garages and lots in just 22 days.
List of Key Companies in the Parking Management Systems Market
- Amano
- SWARCO
- SKIDATA
- Chetu
- INRIX
- FAAC Technologies
- TIBA Parking Systems
- FlashParking
- Passport Labs
- Get My Parking
- DESIGNA
Parking Management Systems Market Developments
July 2024: SWARCO recently announced its acquisition of Elmore Group. This strategic move aims to expand SWARCO's presence in the field of Intelligent Transportation Systems (ITS) within the Republic of Ireland.
November 2022: DESIGNA announced the acquisition of NextGen Parking, LLC, based in Houston, Texas. According to DESIGNA, the existing management team at NextGen will continue to lead the company as a wholly-owned subsidiary of its new German parent company. At the same time, strategies for its integration with DESIGNA USA are being developed.
March 2021: Get My Parking, a tech-driven parking management platform, officially acquired Mobilytics, a startup based in Delhi NCR. Mobilytics specializes in battery-as-a-service solutions for parking facilities and the electric vehicle ecosystem.
Parking Management Systems Market Segmentation
By Offering Outlook (Revenue – USD Billion, 2020–2034)
- Solutions
- Parking Guidance
- Parking Reservation Management
- Parking Permit Management
- Parking Enforcement Management
- Parking Access and Revenue Control System
- Parking Security and Surveillance
- Others Solutions
- Services
- Professional Service
- Consulting and Training
- Systems Integration and Deployment
- Support and Maintenance
- Managed Services
- Professional Service
By Parking Site Outlook (Revenue – USD Billion, 2020–2034)
- On-Street Parking
- Off-Street Parking
- Garage Parking
- Lot Parking
By End Users Outlook (Revenue – USD Billion, 2020–2034)
- Residential
- Commercial
- Industrial
- Others
By Regional Outlook (Revenue – USD Billion, 2020–2034)
- North America
- US
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Netherlands
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Malaysia
- South Korea
- Indonesia
- Australia
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- UAE
- Israel
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Mexico
- Brazil
- Argentina
- Rest of Latin America
Parking Management Systems Report Scope
|
Report Attributes |
Details |
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Market Size Value in 2024 |
USD 5.59 billion |
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Market Size Value in 2025 |
USD 5.99 billion |
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Revenue Forecast in 2034 |
USD 11.29 billion |
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CAGR |
7.3% from 2025 to 2034 |
|
Base Year |
2024 |
|
Historical Data |
2020–2023 |
|
Forecast Period |
2025–2034 |
|
Quantitative Units |
Revenue in USD billion and CAGR from 2025 to 2034 |
|
Report Coverage |
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
|
Segments Covered |
|
|
Regional Scope |
|
|
Competitive Landscape |
|
|
Report Format |
|
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Customization |
Report customization as per your requirements with respect to countries, regions, and segmentation. |
FAQ's
The parking management systems market size was valued at USD 5.59 billion in 2024 and is projected to grow to USD 11.29 billion by 2034.
The market is projected to register a CAGR of 7.3% from 2025 to 2034.
North America had the largest share of the market.
The key players in the market are Amano, SWARCO, SKIDATA, Chetu, INRIX, FAAC Technologies, TIBA Parking Systems, FlashParking, Passport Labs, Get My Parking, and DESIGNA.
The parking guidance segment accounted for the largest revenue share of the market due to the increasing demand for efficient parking solutions that minimize search time and enhance user experience in densely populated urban areas.
The commercial segment is anticipated to account for a significant revenue share of the market due to the rising need for efficient parking management solutions in retail, office, and entertainment venues, driven by increasing vehicle ownership and the demand for enhanced customer experience.
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