Asia-Pacific Parking Management Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Parking Site (On-street and Off-street), Solutions (Parking Guidance Systems, Parking Reservation, Parking Security & Surveillance, and Others), Services (Professional and Managed), and Deployment (On-premise and Cloud)

Code: TIPRE00024715 | Pages: 124 | Industry: Electronics and Semiconductor | Date: Sep 2021 | Type: Regional

Market Introduction

The Asia-Pacific region constitutes world’s top two most populated countries. The region is characterized by significant infrastructure development growth and increase in purchasing power of the individuals in the region. Further, the rising number of individuals migrating toward popular cities for better opportunities is also anticipated to propel the demand for efficient parking management solutions among popular cities in the region. In addition, the presence of economically strong countries and high number of registered passenger vehicles per household per capita in countries such as South Korea, Malaysia, Australia, and Thailand, have substantial number of existing parking infrastructure across different end users. Subsequently, opportunities such as periodic maintenance, contract renewals, and technology upgrading are also expected to drive the parking management market in the coming years. The emerging concepts of smart cities enabled transportation and mobility services are gaining traction among government and municipal authorities for facilitating seamless mobility and parking solutions for both on-street and off-street parking spaces at malls, hospitals, airports, and other public locations. As a result, technology enabled smart parking solutions such as parking guidance systems, parking reservation, mobile app based parking fees payment, and parking security and surveillance, are expected to provide lucrative business opportunities for the market players during the forecast period. Accentuating growth of contactless parking system is the major factor driving the growth of the APAC parking management market.

Due to the massive number of cases in China, the APAC region is greatly affected by COVID-19. The country also homes the largest population across the world, which is imposing greater risk to a large number of individuals. China is also a world leader of many global brands. According to the Organization for Economic Co-operation and Development (OECD), the pandemic has affected major economies of the region, including China, India, South Korea, and Vietnam and this market has experienced a downward industrial growth during the first two quarter of 2020. Due to COVID-19 impact, the pricing of on-street parking has generated sufficient revenues for reinvestment in sustainable transport while disincentivizing on the private vehicle use and falling congestion. For instance, the drivers are robustly searching for parking that are accountable for a vehicle traffic in urban centres during peak hours which further boost the areas with unpaid, or underpriced, parking. Similarly, in India, the startup namely: IvyCap Ventures, is working closely with automotive and logistics companies to efficiently deal with the parking piece of the mobility puzzle. In recent times, it is collaborated with Mercedes-Benz to support end-users in locating and navigating to a relevant parking lot.


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Market Overview and Dynamics

The parking management market in APAC is expected to grow from US$ 7,381.12 million in 2021 to US$ 11,683.08 million by 2028; it is estimated to grow at a CAGR of 6.8% from 2021 to 2028. The automotive industry is experiencing huge demand for vehicles, which is expected to further increase exponentially year on year. The number of vehicles from every class is constantly rising in developed regions and developing regions. According to Organisation Internationale des Constructeurs d'Automobiles (OICA), a total number of vehicles sold in 2020 accounted for almost 77 Mn, as compared to 90 Mn in 2019, this drop in number of vehicles sold is due to COVID-19 impact. Out of 77 Mn vehicles sold, the passenger car segment accounted for 53 Mn, and the rest 24 Mn recorded for commercial vehicles. Though we experience moving traffic, however, it has been proven statistically that vehicles spend most of their lives parked. Hence, there is a huge requirement for an efficient and effective parking infrastructure in the era of the aggressive rise in the number of vehicles across the region. Majority of the cities are facing a severe problem with traffic congestion, and the same is reaching towards an alarming issue shortly. The car parking issue is a key contributor and is still a significant problem with growing vehicle size in the luxurious, semi-luxurious, and commercial vehicle segment and confined parking spaces in urban cities. In addition, limited availability of information related to vacant parking spaces, especially on-street, results in a waste of fuel and time, leading to traffic congestion. Parking management systems and technology plays a vital role in the parking of vehicles on-street and off-street. The increasing procurement of vehicles among the consumers is forcing the governments as well as private organizations to focus more on developing advanced technology parking solutions such as parking guidance solutions, and parking reservation solutions among others to implement on the road as well as building parking areas. This factor is driving the parking management market heavily in the current market scenario, and the same is foreseen to influence the growth of the market in the future.

Key Market Segments

The APAC parking management market is segmented on basis of various parameters such as parking sites, solutions, services, deployment type, and country. The different types of parking sites include on-street parking and off-street parking. The off-street segment dominated the market in 2020 and is expected to be the fastest growing during the forecast period. On basis of solutions, the APAC parking management market is categorized as parking guidance solutions, parking reservation solution, parking security & surveillance solutions and others. The others segment dominated the market in 2020 and parking guidance solutions segment is expected to be the fastest growing during the forecast period. The services segment in parking management market is bifurcated as professional service and managed service. The managed services segment dominated the market in 2020 and professional service segment is expected to be the fastest growing during the forecast period. On-premises deployment and cloud-based deployment are the two types of deployment type segments. The on-premises deployment segment dominated the market in 2020 and cloud based deployment segment is expected to be the fastest growing during the forecast period.

Major Sources and Companies Listed

A few major primary and secondary sources referred to for preparing this report on the parking management market in APAC are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Amano Corporation.; Flowbird Group; GROUP Indigo; Robert Bosch GmbH; and Siemens AG are among others.

Reasons to buy report

  • To understand the APAC parking management market landscape and identify market segments that are most likely to guarantee a strong return
  • Stay ahead of the race by comprehending the ever-changing competitive landscape for APAC parking management market
  • Efficiently plan M&A and partnership deals in APAC parking management market by identifying market segments with the most promising probable sales
  • Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form APAC parking management market
  • Obtain market revenue forecast for market by various segments from 2021-2028 in APAC region.

APAC Parking Management Market Segmentation

APAC Parking Management Market -By Parking Site

  • On-street
  • Off-street

APAC Parking Management Market -By Solution

  • Parking Guidance
  • Parking Reservation
  • Parking Security & Surveillance
  • Others

APAC Parking Management Market -By Services

  • Managed Service
  • Professional Service

APAC Parking Management Market -By Deployment Type

  • On-premises
  • Cloud

APAC Parking Management Market -By Country

  • South Korea
  • China
  • Australia
  • Japan
  • India
  • Rest of APAC

APAC Parking Management Market -Company Profiles

  • Amano Corporation.
  • Flowbird Group
  • GROUP Indigo
  • Robert Bosch GmbH
  • Siemens AG

1.           Introduction

1.1         Study Scope

1.2         The Insight Partners Research Report Guidance

1.3         Market Segmentation

2.           Key Takeaways

3.           Research Methodology

3.1         Coverage

3.2         Secondary Research

3.3         Primary Research

4.           APAC Parking Management Market Landscape

4.1         Market Overview

4.2         APAC PEST Analysis

4.3         Ecosystem Analysis

4.4         Expert Opinion

5.           APAC Parking Management Market – Key Market Dynamics

5.1         Market Drivers

5.1.1        Major Rise in Number of Vehicles on Road

5.1.2        Rising Adoption of Smart Technologies in Parking Management

5.2         Market Restraints

5.2.1        Limited Awareness among the Consumers in Developing Countries

5.3         Market Opportunities

5.3.1        Accentuating Growth of Contactless Parking System

5.3.2        Rising Partnerships and Mergers to Stimulate the Parking Management in Urban Areas

5.4         Future Trends

5.4.1        Simplification of Technologies and Reduction in Price of the Systems

5.5         Impact Analysis of Drivers and Restraints

6.           Parking Management Market – APAC Analysis

6.1         APAC Parking Management Market Overview

6.2         APAC Parking Management Market –Revenue and Forecast to 2028 (US$ Million)

7.           APAC Parking Management Market Analysis – by Parking Site

7.1         Overview

7.2         APAC Parking Management Market Breakdown, By Parking Site, 2020 & 2028

7.3         On-Street Parking Management Market

7.3.1        Overview

7.3.2        On-Street Parking Management: Parking Management Market - Revenue and Forecast to 2028 (US$ Million)

7.4         Off-Street Parking Management Market

7.4.1        Overview

7.4.2        Off-Street Parking Management: Parking Management Market - Revenue and Forecast to 2028 (US$ Million)

8.           APAC Parking Management Market Revenue and Forecasts to 2028 – Solutions

8.1         Overview

8.2         APAC Parking Management Market Breakdown, By Solution, 2020 & 2028

8.3         Parking Guidance Solution Market

8.3.1        Overview

8.3.2        Parking Guidance Solution: Parking Management Market - Revenue and Forecast to 2028 (US$ Million)

8.4         Parking Reservation Solution Market

8.4.1        Overview

8.4.2        Parking Reservation Solution: Parking Management Market - Revenue and Forecast to 2028 (US$ Million)

8.5         Parking Security & Surveillance Solution Market

8.5.1        Overview

8.5.2        Parking Security & Surveillance Solution: Parking Management Market - Revenue and Forecast to 2028 (US$ Million)

8.6         Others market

8.6.1        Overview

8.6.2        Others: Parking Management Market - Revenue and Forecast to 2028 (US$ Million)

9.           APAC Parking Management Market Revenue and Forecasts to 2028 – Services

9.1         Overview

9.2         APAC Parking Management Market Breakdown, By Services, 2020 & 2028

9.3         Managed Services Market

9.3.1        Overview

9.3.2        Managed Services: Parking Management Market - Revenue and Forecast to 2028 (US$ Million)

9.4         Professional Services Market

9.4.1        Overview

9.4.2        Professional Services: Parking Management Market - Revenue and Forecast to 2028 (US$ Million)

10.        APAC Parking Management Market Revenue and Forecasts To 2028 – Deployment Type

10.1      Overview

10.2      APAC Parking Management Market Breakdown, By Deployment Type, 2020 & 2028

10.3      On-Premises

10.3.1     Overview

10.3.2     On-Premises Deployment: Parking Management Market - Revenue and Forecast to 2028 (US$ Million)

10.4      Cloud

10.4.1     Overview

10.4.2     Cloud Deployment: Parking Management Market - Revenue and Forecast to 2028 (US$ Million)

11.        APAC Parking Management Market – Country Analysis

11.1      Overview

11.1.1     APAC: Parking Management Market- by Key Country

11.1.1.1       Australia: Parking Management Market – Revenue and Forecast to 2028 (US$ Million)

11.1.1.1.1       Australia: Parking Management Market- by Parking Site

11.1.1.1.2       Australia: Parking Management Market- By Solution

11.1.1.1.3       Australia: Parking Management Market- By Services

11.1.1.1.4       Australia: Parking Management Market- By Deployment Type

11.1.1.2       China: Parking Management Market – Revenue and Forecast to 2028 (US$ Million)

11.1.1.2.1       China: Parking Management Market- by Parking Site

11.1.1.2.2       China: Parking Management Market- By Solution

11.1.1.2.3       China: Parking Management Market- By Services

11.1.1.2.4       China: Parking Management Market- By Deployment Type

11.1.1.3       India: Parking Management Market – Revenue and Forecast to 2028 (US$ Million)

11.1.1.3.1       India: Parking Management Market- by Parking Site

11.1.1.3.2       India: Parking Management Market- By Solution

11.1.1.3.3       India: Parking Management Market- By Services

11.1.1.3.4       India: Parking Management Market- By Deployment Type

11.1.1.4       Japan: Parking Management Market – Revenue and Forecast to 2028 (US$ Million)

11.1.1.4.1       Japan: Parking Management Market- by Parking Site

11.1.1.4.2       Japan: Parking Management Market- By Solution

11.1.1.4.3       Japan: Parking Management Market- By Services

11.1.1.4.4       Japan: Parking Management Market- By Deployment Type

11.1.1.5       South Korea: Parking Management Market – Revenue and Forecast to 2028 (US$ Million)

11.1.1.5.1       South Korea: Parking Management Market- by Parking Site

11.1.1.5.2       South Korea: Parking Management Market- By Solution

11.1.1.5.3       South Korea: Parking Management Market- By Services

11.1.1.5.4       South Korea: Parking Management Market- By Deployment Type

11.1.1.6       Rest of APAC: Parking Management Market – Revenue and Forecast to 2028 (US$ Million)

11.1.1.6.1       Rest of APAC: Parking Management Market- by Parking Site

11.1.1.6.2       Rest of APAC: Parking Management Market- By Solution

11.1.1.6.3       Rest of APAC: Parking Management Market- By Services

11.1.1.6.4       Rest of APAC: Parking Management Market- By Deployment Type

12.        APAC Parking Management Market- COVID-19 Impact Analysis

12.1      Overview

13.        Industry Landscape

13.1      Overview

13.2      Market Initiative

13.3      Merger and Acquisition

14.        Company Profiles

14.1      Flowbird Group

14.1.1     Key Facts

14.1.2     Business Description

14.1.3     Products and Services

14.1.4     Financial Overview

14.1.5     SWOT Analysis

14.1.6     Key Developments

14.1.7     Key Developments

14.2      GROUP Indigo

14.2.1     Key Facts

14.2.2     Business Description

14.2.3     Products and Services

14.2.4     Financial Overview

14.2.5     SWOT Analysis

14.2.6     Key Developments

14.3      Amano Corporation.

14.3.1     Key Facts

14.3.2     Business Description

14.3.3     Products and Services

14.3.4     Financial Overview

14.3.5     SWOT Analysis

14.3.6     Key Developments

14.4      Robert Bosch GmbH

14.4.1     Key Facts

14.4.2     Business Description

14.4.3     Products and Services

14.4.4     Financial Overview

14.4.5     SWOT Analysis

14.4.6     Key Developments

14.5      Siemens AG

14.5.1     Key Facts

14.5.2     Business Description

14.5.3     Products and Services

14.5.4     Financial Overview

14.5.5     SWOT Analysis

14.5.6     Key Developments

15.        Appendix

15.1      About The Insight Partners

15.2      Word Index

LIST OF TABLES

Table 1.             APAC Parking Management Market – Revenue, and Forecast to 2028 (US$ Million)

Table 2.             Australia: Parking Management Market- by Parking Site –Revenue and Forecast to 2028 (US$ Million)

Table 3.             Australia: Parking Management Market- By Solution –Revenue and Forecast to 2028 (US$ Million)

Table 4.             Australia: Parking Management Market- By Services –Revenue and Forecast to 2028 (US$ Million)

Table 5.             Australia: Parking Management Market- By Deployment Type –Revenue and Forecast to 2028 (US$ Million)

Table 6.             China: Parking Management Market- by Parking Site –Revenue and Forecast to 2028 (US$ Million)

Table 7.             China: Parking Management Market- By Solution –Revenue and Forecast to 2028 (US$ Million)

Table 8.             China: Parking Management Market- By Services –Revenue and Forecast to 2028 (US$ Million)

Table 9.             China: Parking Management Market- By Deployment Type –Revenue and Forecast to 2028 (US$ Million)

Table 10.          India: Parking Management Market- by Parking Site –Revenue and Forecast to 2028 (US$ Million)

Table 11.          India: Parking Management Market- By Solution –Revenue and Forecast to 2028 (US$ Million)

Table 12.          India: Parking Management Market- By Services –Revenue and Forecast to 2028 (US$ Million)

Table 13.          India: Parking Management Market- By Deployment Type –Revenue and Forecast to 2028 (US$ Million)

Table 14.          Japan: Parking Management Market- by Parking Site –Revenue and Forecast to 2028 (US$ Million)

Table 15.          Japan: Parking Management Market- By Solution –Revenue and Forecast to 2028 (US$ Million)

Table 16.          Japan: Parking Management Market- By Services –Revenue and Forecast to 2028 (US$ Million)

Table 17.          Japan: Parking Management Market- By Deployment Type –Revenue and Forecast to 2028 (US$ Million)

Table 18.          South Korea: Parking Management Market- by Parking Site –Revenue and Forecast to 2028 (US$ Million)

Table 19.          South Korea: Parking Management Market- By Solution –Revenue and Forecast to 2028 (US$ Million)

Table 20.          South Korea: Parking Management Market- By Services –Revenue and Forecast to 2028 (US$ Million)

Table 21.          South Korea: Parking Management Market- By Deployment Type –Revenue and Forecast to 2028 (US$ Million)

Table 22.          Rest of APAC: Parking Management Market- by Parking Site –Revenue and Forecast to 2028 (US$ Million)

Table 23.          Rest of APAC: Parking Management Market- By Solution –Revenue and Forecast to 2028 (US$ Million)

Table 24.          Rest of APAC: Parking Management Market- By Services –Revenue and Forecast to 2028 (US$ Million)

Table 25.          Rest of APAC: Parking Management Market- By Deployment Type –Revenue and Forecast to 2028 (US$ Million)

Table 26.          List of Abbreviation

LIST OF FIGURES

Figure 1.           APAC Parking Management Market Segmentation

Figure 2.           APAC Parking Management Market Segmentation – By Country

Figure 3.           APAC Parking Management Market Overview

Figure 4.           Off-Street Segment Held the Largest Market Share in 2020

Figure 5.           Others Held the Largest Market Share in 2020

Figure 6.           Managed Services Held the Largest Market Share in 2020

Figure 7.           China was the Largest Revenue Contributor in 2020

Figure 8.           APAC – PEST Analysis

Figure 9.           Expert Opinion

Figure 10.        APAC Parking Management Market Impact Analysis of Drivers and Restraints

Figure 11.        APAC Parking Management Market – Revenue and Forecast to 2028 (US$ Million)

Figure 12.        APAC Parking Management Market Breakdown, By Parking Site, 2020 & 2028 (%)

Figure 13.        APAC On-Street Parking Management: Parking Management Market - Revenue and Forecast to 2028 (US$ Million)

Figure 14.        APAC Off-Street Parking Management: Parking Management Market - Revenue and Forecast to 2028 (US$ Million)

Figure 15.        APAC Parking management Market Breakdown, By Solution, 2020 & 2028 (%)

Figure 16.        APAC Parking Guidance Solution: Parking Management Market - Revenue and Forecast to 2028 (US$ Million)

Figure 17.        APAC Parking Reservation Solution: Parking Management Market - Revenue and Forecast to 2028 (US$ Million)

Figure 18.        APAC Parking Security & Surveillance Solution: Parking Management Market - Revenue and Forecast to 2028 (US$ Million)

Figure 19.        APAC Others: Parking Management Market - Revenue and Forecast to 2028 (US$ Million)

Figure 20.        APAC Parking Management Market Breakdown, By Services, 2020 & 2028 (%)

Figure 21.        APAC Managed Services: Parking Management Market - Revenue and Forecast to 2028 (US$ Million)

Figure 22.        APAC Professional Services: Parking Management Market - Revenue and Forecast to 2028 (US$ Million)

Figure 23.        APAC Parking Management Market Breakdown, By Deployment Type, 2020 & 2028 (%)

Figure 24.        APAC On-Premises Deployment Parking Management Market - Revenue and Forecast to 2028 (US$ Million)

Figure 25.        APAC Cloud Deployment: Parking Management Market - Revenue and Forecast to 2028 (US$ Million)

Figure 26.        APAC: Parking Management Market, By Key Country-Revenue 2020 (US$ Million)

Figure 27.        APAC: Parking Management Market Revenue Share, By Key Country (2020 and 2028)

Figure 28.        Australia: Parking Management Market – Revenue and Forecast to 2028 (US$ Million)

Figure 29.        China: Parking Management Market – Revenue and Forecast to 2028 (US$ Million)

Figure 30.        India: Parking Management Market – Revenue and Forecast to 2028 (US$ Million)

Figure 31.        Japan: Parking Management Market – Revenue and Forecast to 2028 (US$ Million)

Figure 32.        South Korea: Parking Management Market – Revenue and Forecast to 2028 (US$ Million)

Figure 33.        Rest of APAC: Parking Management Market – Revenue and Forecast to 2028 (US$ Million)

Figure 34.        Impact of COVID-19 Pandemic in Asia Pacific Country Markets

 

  1. Amano Corporation.
  2. Flowbird Group
  3. GROUP Indigo
  4. Robert Bosch GmbH
  5. Siemens AG
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