DUBLIN—Research and Markets has announced the addition of the "Global Parking Management Market Insights, Opportunity Analysis, Market Shares and Forecast, 2016 - 2022" report to their offering.

The global parking management market size is estimated to grow from $3.03 Billion in year 2016 to $5.30 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 11.1% during 2016-2022.

The increased public sector funding and productive government initiatives are presumed to strengthen the whole global parking management industry growth. This market is anticipated to experience a surge in the demand for management solutions in the commercial and government application segments and is anticipated to propel the industry growth in the near future. Moreover, an increasing number of vehicles is impacting the lack of availability of parking lots and is consequently fueling the demand for parking management solutions across the world. Furthermore, these parking mobile applications are likely to offer local businesses an opportunity to attract their potential customers and provide them the best offers for customers looking for.

The APAC region is also expected to be the fastest growing region in the market. The growth is primarily driven by the need of citizens such as safety of pedestrians and reduction in pollution. Moreover, the increase in number of vehicles globally, with high growth rates in emerging economies such as Asia-Pacific and Latin America, are creating business potential for the industry. The holistic idea of having smart cities is taking off at significant momentum. There is also a prime focus on spending in emerging sectors such as smart transportation. These factors clearly indicate the growth potential of the parking management market in the coming years.

Companies Mentioned:

  • Amano Corporation
  • Cubic Corporation
  • Ibm
  • Kapsch
  • Siemens
  • Skidata
  • Swarco Corporation
  • T-Systems
  • Xerox

Key Topics Covered:

1. Introduction

2. Market Overview

3. Market Determinants

4. Market Segmentation

5. Geographic Analysis

6. Company Profile

For more information about this report visit http://www.researchandmarkets.com/research/l9r9hf/global_parking

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Related Topics: Automotive