Parking Management Market Is Likely To Engender Double Digit CAGR Value Of Almost 10% By 2026
New York City, NY: Sept 20, 2019 – Published via (Wired Release) – MarketResearch.biz announces publication of its recently generated analysis report titled, “Global Parking Management Market by Application (government, commercial, and transport), Parking Facility (off-street and on-street, Component, answer sort, and Region – world Forecast to 2026”, that offers a holistic read of the world Parking Management market through systematic segmentation that covers each facet of the target market.
In keeping with the report, the primary five-year accumulative revenue (2017–2021) is projected to be US$ 30,143.8 Mn, that is anticipated to extend rather considerably over the latter a part of the five-year forecast amount.
A Parking Management system helps a driver to find a vacant parking spot, and also the system collects time period information through sensors put in in every parking lot, that allows detection of presence or absence of a vehicle. Implementation of Parking Management systems helps in systematic allocation and most utilization of house for parking.
Global Parking Management Market: Market Dynamics
According to the report, major factors driving growth of the world Parking Management market are increasing range of vehicles worldwide and shrinking convenience of on-street parking. additionally, rising adoption of Parking Management systems by parking garages, multistorey parking facilities, and business & residential sites ar more propellent growth of the world Parking Management market.
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Technological advancements and increasing adoption of net of Things (IoT) and connected devices ar another factors expected to drive growth of the world Parking Management market over the forecast amount. Moreover, options like previous determination of convenience of parking lot, advance parking reservation, and mobile payment possibility ar factors more provision growth of the world Parking Management market.
High installation and maintenance prices ar major factors hampering growth of the world Parking Management market. additionally, lack of funding for readying and lack of awareness regarding benefits of parking systems in underdeveloped economies are alternative factors hampering growth of the world Parking Management market.
Global Parking Management Market: Market Forecast
The comprehensive analysis report includes an entire forecast of the world Parking Management market supported factors poignant the market and their impact within the predictable future. in keeping with the forecast projections, revenue from the world Parking Management market is anticipated to expand at a moderate CAGR of 10.8% throughout the forecast amount.
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Global Parking Management Market: Segmental shot
The market report has been segmental on the idea of application, parking facility, component, answer sort, and region. On the idea of application, the world Parking Management market is segmental into government, commercial, and transport. On the idea of parking facility, the world Parking Management market is segmental into off-street and on-street. On the idea of part, the world Parking Management market is segmental into hardware, software, and services. On the idea of answer sort, the world Parking Management market is segmental into revenue management, security , access management, reservation management, and valet Parking Management. The regions coated within the analysis ar land, Europe, Asia Pacific, geographic area, and remainder of the globe (ROW).
By application: Business section accounts for highest market share and is calculable to register a CAGR of over 11.4% between 2017 and 2026.
By parking facility: Off-street section is calculable to register highest CAGR of 10.9% over the forecast amount.
By component: The primary five-year accumulative revenue (2017–2021) of the hardware section is projected to be US$ 16,574.8 Mn, that is anticipated to extend rather considerably over the latter a part of the five-year forecast amount.
By solution type: Valet Parking Management section is calculable to register a CAGR of 11.9% throughout the forecast amount.
By region: The market within the Americas accounted for highest revenue share within the world Parking Management market in 2016, and is anticipated to register a CAGR of over 11.1% between 2017 and 2026.
Global Parking Management Market: Competitive Analysis
The analysis report on the world Parking Management market includes profiles of a number of the most important corporations like Amano McGann opposition., Kapsch, Siemens AG., SKIDATA, Xerox Corporation. alternative outstanding players like Cisco Systems opposition., Cisco opaque gem, Deutsche Telekom ag, Gemalto NV, HCL Technologies restricted, IBM corporation, IPS Group, Inc., MSR-Traffic, Nedap quality Solutions, Orange Business Services, Oti (PARX), Parkeon, SWARCO AG, and T2 SYSTEMS.
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The world Parking Management Market: Global business, Size, Share, Growth, Trends, and Forecast, 2017–2026 report has been ready supported associate degree in-depth marketing research with inputs from business consultants. This report covers this state of affairs and also the growth prospects of the world Parking Management marketplace for 2017–2026.
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