Parking Management Market Analysis

Deployment Type (On-premise, Cloud)

The on-premises segment is set to experience the largest market share of 60% by the end of 2037. The growth can be ascribed on the back of several reasons such as improved security, better accessibility, and less downtime risk. Additionally, they also offer benefits in terms of compliance issues. Another factor due to this segment is highly preferable among consumers as it is more stable and people can get access to data even if the server is down or internet connectivity is slow.

Parking Site (On-Street, Off-Street)

The off-street parking segment in the parking management market is predicted to hold the largest revenue share in the time period between 2023 – 2037 on the account of increasing number of vehicles moving on the road. This is mainly used as it is easier, more reliable, and aids in traffic control. Low installation and maintenance costs, pre-built infrastructure, cutting-edge software, enhanced communication rules, and the spread of smart city projects all contribute to the market's growth. The introduction of mobile devices and digital methods of payment is furthermore boosted the market growth.

Our in-depth analysis of the global market includes the following segments: