North America 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)
Market Introduction
The North American region includes the US, Canada, and Mexico. The US is a developed country in terms of modern technology, standard of living, and infrastructure, among other factors. Across North America, the technological advancements have led to highly competitive markets. With the increasing demand from customers for high-quality parking solutions to ease the parking issues faced by the drivers, companies are continually innovating to serve their customers in the best possible way. The majority of the world’s largest technology companies has favored in the high economic growth of the parking management market in the region. Moreover, favorable economic conditions have resulted in a growing startup-hub in the North American region. In the City of Windsor, Canada, the government is actively focusing on resolving the parking issues faced by users by implementing certain rules. The government installed smart parking solutions across 1,456 on-street, parking-meter locations and 29 off-street parking lots, including 1,449 parking spaces and 2 municipal garages providing 966 parking spaces. These factors are contributing to good competition among various market players in North America. Substantial rise in number of vehicles on road is the major factor driving the growth of the North America parking management market.
North America is one of the leading regions in terms of the development and adoption of new technologies; this is mainly attributed to favorable government policies that boost innovation and strengthen the infrastructure capabilities. Hence, any impact on the growth of industrial sector hampers the economic growth of the region. Presently, the US is the world’s worst-affected country due to COVID-19 outbreak. The majority public entities and municipalities depends on parking taxes and parking revenue to fund several big projects for citizens in the country. The corporate buildings, CBDs, universities, shopping centers, hospitals, hotels, airports, and many others consist of great parking facilities and services to efficiently handle their business functions. Owing to the impact of COVID-19 pandemic, the cross-board activities and maintaining social distancing for supporting the slow-down of the virus spread, the parking industry is being impacted very hard. Many businesses have been under tremendous pressure to survive, and hundreds of thousands of frontline workers are losing jobs. The real time monitoring dynamics of over 2,000 parking facilities across the North America, as well as the observations to improve quantitatively understand the impact of COVID-19 to parking.
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Market Overview and Dynamics
The parking management market in North America is expected to grow from US$ 8,923.28 million in 2021 to US$ 12,084.70 million by 2028; it is estimated to grow at a CAGR of 4.4% from 2021 to 2028. With the advent of technology and precisely handling the parking space issues faced by an individual, the market players are robustly focusing on the development of contactless parking systems. The contactless parking management system facilitates the entry & exit of the vehicle without any physical contact with parking entry/exit stations. The driver does not have to push the ticket button or even touching a payment machine. The contactless intelligent parking system integrates a unique QR Coded e-ticket, which is generated at the entry station with the help of a smartphone device. This QR Coded e-ticket credential also permits the users to make an online payment at the exit station.After the COVID-19 pandemic outbreak, the adoption of tech-driven parking solutions is emerging to efficiently fill the gap between car owners/drivers looking for safe parking spots and companies who could provide such spaces digitally and quickly. The drivers are currently discovering empty parking spots in their vicinity, book slots within a few taps in the smartphone screen, and making payments using the digital method. The contactless method offers different features that vary from monitoring payment to regulating the crowd within parking structures/lots. Owing to the COVID-19 outbreak, the businesses halted and disrupted entire economies, with social distancing becoming the new normal, which creates a massive opportunity for the market player to introduce digital and contactless solutions across automotive industries.
Key Market Segments
The North America 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 North America 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 North America are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Amano Corporation.; FlashParking; Flowbird Group; GROUP Indigo; PASSPORT LABS, INC.; PRECISE PARKLINK INC.; Robert Bosch GmbH; Siemens AG; T2 Systems, Inc; and TIBA PARKING SYSTEMS are among others.
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- To understand the North America parking management market landscape and identify market segments that are most likely to guarantee a strong return
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- Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form North America parking management market
- Obtain market revenue forecast for market by various segments from 2021-2028 in North America region.
North America Parking Management Market Segmentation
North America Parking Management Market -By Parking Site
- On-street
- Off-street
North America Parking Management Market -By Solution
- Parking Guidance
- Parking Reservation
- Parking Security & Surveillance
- Others
North America Parking Management Market -By Services
- Managed Service
- Professional Service
North America Parking Management Market -By Deployment Type
- On-premises
- Cloud
North America Parking Management Market -By Country
- US
- Canada
- Mexico
North America Parking Management Market -Company Profiles
- Amano Corporation.
- FlashParking
- Flowbird Group
- GROUP Indigo
- PASSPORT LABS, INC.
- PRECISE PARKLINK INC.
- Robert Bosch GmbH
- Siemens AG
- T2 Systems, Inc
- TIBA PARKING SYSTEMS
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. North America Parking Management Market Landscape
4.1 Market Overview
4.2 North America PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. North America Parking Management Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Substantial Rise in Number of Vehicles on Road
5.1.2 Rise in 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 Increase in Partnerships and Mergers to Stimulate the Parking Management in Urban Areas
5.4 Future Trends
5.4.1 Simplified of Technologies and Reduction in Cost of the Systems
5.5 Impact Analysis of Drivers and Restraints
6. Parking Management Market – North America Analysis
6.1 North America Parking Management Market Overview
6.2 North America Parking Management Market –Revenue and Forecast to 2028 (US$ Million)
7. North America Parking Management Market Analysis – by Parking Site
7.1 Overview
7.2 North America 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. North America Parking Management Market Revenue and Forecasts to 2028 – Solutions
8.1 Overview
8.2 North America 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. North America Parking Management Market Revenue and Forecasts to 2028 – Services
9.1 Overview
9.2 North America 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. North America Parking Management Market Revenue and Forecasts To 2028 – Deployment Type
10.1 Overview
10.2 North America 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. North America Parking Management Market – Country Analysis
11.1 Overview
11.1.1 North America: Parking Management Market- by Key Country
11.1.1.1 US: Parking Management Market – Revenue and Forecast to 2028 (US$ Million)
11.1.1.1.1 US: Parking Management Market- by Parking Site
11.1.1.1.2 US: Parking Management Market- By Solution
11.1.1.1.3 US: Parking Management Market- By Services
11.1.1.1.4 US: Parking Management Market- By Services
11.1.1.2 Canada: Parking Management Market – Revenue and Forecast to 2028 (US$ Million)
11.1.1.2.1 Canada: Parking Management Market- by Parking Site
11.1.1.2.2 Canada: Parking Management Market- By Solution
11.1.1.2.3 Canada: Parking Management Market- By Services
11.1.1.2.4 Canada: Parking Management Market- By Deployment Type
11.1.1.3 Mexico: Parking Management Market – Revenue and Forecast to 2028 (US$ Million)
11.1.1.3.1 Mexico: Parking Management Market- by Parking Site
11.1.1.3.2 Mexico: Parking Management Market- By Solution
11.1.1.3.3 Mexico: Parking Management Market- By Services
11.1.1.3.4 Mexico: Parking Management Market- By Deployment Type
12. North America Parking Management Market- COVID-19 Impact Analysis
12.1 Overview
13. Industry Landscape
13.1 Overview
13.2 Market Initiative
13.3 New Product Development
13.4 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
14.2 PASSPORT LABS, INC.
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 T2 Systems, Inc
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 TIBA PARKING SYSTEMS
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 GROUP Indigo
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
14.6 PRECISE PARKLINK INC.
14.6.1 Key Facts
14.6.2 Business Description
14.6.3 Products and Services
14.6.4 Financial Overview
14.6.5 SWOT Analysis
14.6.6 Key Developments
14.7 FlashParking
14.7.1 Key Facts
14.7.2 Business Description
14.7.3 Products and Services
14.7.4 Financial Overview
14.7.5 SWOT Analysis
14.7.6 Key Developments
14.8 Amano Corporation.
14.8.1 Key Facts
14.8.2 Business Description
14.8.3 Products and Services
14.8.4 Financial Overview
14.8.5 SWOT Analysis
14.8.6 Key Developments
14.9 Robert Bosch GmbH
14.9.1 Key Facts
14.9.2 Business Description
14.9.3 Products and Services
14.9.4 Financial Overview
14.9.5 SWOT Analysis
14.9.6 Key Developments
14.10 Siemens AG
14.10.1 Key Facts
14.10.2 Business Description
14.10.3 Products and Services
14.10.4 Financial Overview
14.10.5 SWOT Analysis
14.10.6 Key Developments
15. Appendix
15.1 About The Insight Partners
15.2 Word Index
LIST OF TABLES
Table 1. North America Parking Management Market – Revenue, and Forecast to 2028 (US$ Million)
Table 2. US: Parking Management Market- by Parking Site –Revenue and Forecast to 2028 (US$ Million)
Table 3. US: Parking Management Market- By Solution –Revenue and Forecast to 2028 (US$ Million)
Table 4. US: Parking Management Market- By Services –Revenue and Forecast to 2028 (US$ Million)
Table 5. US: Parking Management Market- By Services –Revenue and Forecast to 2028 (US$ Million)
Table 6. Canada: Parking Management Market- by Parking Site –Revenue and Forecast to 2028 (US$ Million)
Table 7. Canada: Parking Management Market- By Solution –Revenue and Forecast to 2028 (US$ Million)
Table 8. Canada: Parking Management Market- By Services –Revenue and Forecast to 2028 (US$ Million)
Table 9. Canada: Parking Management Market- By Deployment Type –Revenue and Forecast to 2028 (US$ Million)
Table 10. Mexico: Parking Management Market- by Parking Site –Revenue and Forecast to 2028 (US$ Million)
Table 11. Mexico: Parking Management Market- By Solution –Revenue and Forecast to 2028 (US$ Million)
Table 12. Mexico: Parking Management Market- By Services –Revenue and Forecast to 2028 (US$ Million)
Table 13. Mexico: Parking Management Market- By Deployment Type –Revenue and Forecast to 2028 (US$ Million)
Table 14. List of Abbreviation
LIST OF FIGURES
Figure 1. North America Parking Management Market Segmentation
Figure 2. North America Parking Management Market Segmentation – By Country
Figure 3. North America Parking Management Market Overview
Figure 4. Off-Street Segment Held the Largest Market Share in 2020
Figure 5. Others Solution Held the Largest Market Share in 2020
Figure 6. Managed Services Held the Largest Market Share in 2020
Figure 7. US was the Largest Revenue Contributor in 2020
Figure 8. North America – PEST Analysis
Figure 9. Expert Opinion
Figure 10. North America Parking Management Market Impact Analysis of Drivers and Restraints
Figure 11. North America Parking Management Market – Revenue and Forecast to 2028 (US$ Million)
Figure 12. North America Parking Management Market Breakdown, By Parking Site, 2020 & 2028 (%)
Figure 13. North America On-Street Parking Management: Parking Management Market - Revenue and Forecast to 2028 (US$ Million)
Figure 14. North America Off-Street Parking Management: Parking Management Market - Revenue and Forecast to 2028 (US$ Million)
Figure 15. North America Parking management Market Breakdown, By Solution, 2020 & 2028 (%)
Figure 16. North America Parking Guidance Solution: Parking Management Market - Revenue and Forecast to 2028 (US$ Million)
Figure 17. North America Parking Reservation Solution: Parking Management Market - Revenue and Forecast to 2028 (US$ Million)
Figure 18. North America Parking Security & Surveillance Solution: Parking Management Market - Revenue and Forecast to 2028 (US$ Million)
Figure 19. North America Others: Parking Management Market - Revenue and Forecast to 2028 (US$ Million)
Figure 20. North America Parking Management Market Breakdown, By Services, 2020 & 2028 (%)
Figure 21. Managed Services: Parking Management Market - Revenue and Forecast to 2028 (US$ Million)
Figure 22. North America Professional Services: Parking Management Market - Revenue and Forecast to 2028 (US$ Million)
Figure 23. North America Parking Management Market Breakdown, By Deployment Type, 2020 & 2028 (%)
Figure 24. North America On-Premises Deployment Parking Management Market - Revenue and Forecast to 2028 (US$ Million)
Figure 25. North America Cloud Deployment: Parking Management Market - Revenue and Forecast to 2028 (US$ Million)
Figure 26. North America: Parking Management Market, by Key Country-Revenue 2020 (2020 & 2028)
Figure 27. North America: Parking Management Market Revenue Share, by Key Country (2020 and 2028)
Figure 28. US: Parking Management Market – Revenue and Forecast to 2028 (US$ Million)
Figure 29. Canada: Parking Management Market – Revenue and Forecast to 2028 (US$ Million)
Figure 30. Mexico: Parking Management Market – Revenue and Forecast to 2028 (US$ Million)
Figure 31. Impact of COVID-19 Pandemic in North American Country Markets
- Amano Corporation.
- FlashParking
- Flowbird Group
- GROUP Indigo
- PASSPORT LABS, INC.
- PRECISE PARKLINK INC.
- Robert Bosch GmbH
- Siemens AG
- T2 Systems, Inc
- TIBA PARKING SYSTEMS