Parking Management Segmentation
Deployment Type (On-premise, Cloud)
The on-premises segment is anticipated to witness the largest market share of 60% by the end of 2037. The growth is attributed to enhanced security, convenience, and less downtime risk. Additionally, they provide benefits in terms of compliance issues. The segment is exceedingly 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. The segment is hence projected to witness a significant expansion in the upcoming years.
Parking Site (On-Street, Off-Street)
The off-street parking segment in the parking management market is predicted to hold the largest revenue share by 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 has furthermore boosted the market growth.
Our in-depth analysis of the global market includes the following segments:
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Solution |
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Service |
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Deployment Type |
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Parking Site |
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