Parking Management Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Parking Management Market is segmented by Deployment Type (On-premises, Cloud-based), Parking Site (Off-street, On-street) and Geography

Market Snapshot

Parking Management Market Summary
Study Period: 2020-2027
Base Year: 2021
Fastest Growing Market: Asia Pacific
Largest Market: Europe
CAGR: 10.3 %
Parking Management Market Major Players

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Market Overview

The Parking Management Market is prevised to grow at a CAGR of 10.3% during the forecast period. The steps toward creating a smart and connected transportation environment include parking as an essential parameter to be addressed.​ Hence, the rise in the smart city concept's smart transportation projects is expected to boost the demand over the forecast period.

  • The cloud-based platform ensures intelligent usage of parking spaces. It maintains social distancing by providing vital information, such as information about nearby free parking so that drivers can park safely. Besides distance, a driver can select other filters such as price, parking time, and rating. Such benefits are expected to aid in the growth in the adoption of parking management solutions, especially during the pandemic. Moreover, the evolution from on-premise to cloud-based solutions has been critical in making the solutions more robust and easily deployable. These factors have positively impacted the demand for the solution and services offered in this market.
  • Moreover, technology enhancement in connectivity and communication is also expected to make it a more affordable and sought-after solution. Mobile-based App support for parking solutions is expected to bring new growth opportunities to the market.
  • Further, technologies such as AI, machine learning, speed monitoring, image recognition, and tracking capabilities are expected to improve and enhance the user's experience in the market. For instance, in May 2021, L&T Technology Services developed a smart parking solution collaborating with the Intel Corporation. The solution comprises four essential parts and uses AI's effective capabilities. They are a digital camera, a mobile application for the end-user interface, a digital signage module for safe and secure access, and an operator portal that contains user information. The AWS cloud platform connects all of these parts, making it readily available and reachable.
  • Parking management encompasses wireless and wired telecommunications systems, traffic control tools, hardware sensors, computer servers, and application interfaces. A remarkably wide range of hardware and software exists within the parking management infrastructure. Hence, integrating all the hardware and software involved in parking management into one single platform is difficult and acts as a restraint to the growth of the parking management market.
  • The effects of the COVID-19 outbreak have led to travel disruptions and restrictions worldwide, leading to decreased need for parking management. Also, since almost all modes of transport were grounded for a certain amount of time, it leads to less need for managing traffic congestion.

Scope of the Report

Parking management refers to the policies and programs that result in improved and efficient use of available parking resources. The parking management system constitutes the access control system, revenue management, security system, boom barrier, and many others. The Parking Management Market is segmented by Deployment Type (On-premises, Cloud-based), Parking Site (Off-street, On-street), and Geography.

Deployment Type
Parking Site
North America
United States
United Kingdom
Rest of Europe
Asia Pacific
South Korea
Rest of Asia Pacific
Latin America
Rest of Latin America
Middle East and Africa
United Arab Emirates
South Africa
Rest of Middle East and Africa

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Key Market Trends

On-Street Parking Accounts for Significant Market Share

  • To create more pleasant public areas, improve conditions for walking and bicycling, and improve access to public transportation stops and stations, on-street parking sites are expected to experience significant growth throughout the projected period. The development of this market is fueled by the rise in the usage of effective on-street parking locations, which increases the financial viability of off-street parking facilities and eases the load on common property resources.
  • On-street parking spaces are often under the supervision of governmental organizations and are highly preferred by most commuters due to their simplicity and affordability. Off-street parking is a planned and secure alternative to on-street parking, but due to the exorbitant parking fees, it has not gained popularity, leading to poor occupancy rates.
  • The market for on-street parking management solutions is being further stimulated by the authorities and parking owners' deployment of smart parking solutions to manage on-street parking effectively. The BMW 5 Series Sedan can be well parked on the street due to the On-Street Parking service provided by INRIX Inc., a connected automotive services and mobility analytics provider.
  • Inrix Inc., which provides transportation analytics and connected car services, U.S. commuters lost 3.4 billion hours due to traffic congestion in 2021. Hence, the average time lost by American drivers increases as the economic and urban growth continues nationally. This is where the need for efficiently on-street parking comes into action by which it can save time on both sides, i.e., the vehicle parker and the road traffic in the United States.
  • According to OICA, the motor vehicle sales of passenger vehicles increased by 5 percent compared to the previous year when some 53.92 million cars were sold worldwide. This increase in the sales of motor vehicles globally will considerably drive the need for on-street parking.
Parking Management Market : Motor vehicle sales by passenger cars, in million units, Global, 2020 to 2021

North America to Witness Significant Market Share

  • The North American region dominated the market, holding a significant portion of it. Due to the increase in car numbers in countries like Canada and the U.S., a smart parking solution is needed to reduce traffic congestion. People in the region are also easily adapting to modern parking alternatives owing to the simplicity of using cell phones and the availability of mobile apps for finding parking spaces. The region's growing commercialization and desire to offer a customized user experience are driving the demand for parking management.
  • The United States, with a rising number of vehicles on the road and limited parking space, faces huge costs for parking. According to a study by INRIX, parking is the highest cost of driving. The average United States driver faces a total driving cost of USD 10,228 made up of direct (maintenance, fuel, insurance, and parking and toll fees) and indirect/hidden (wasted time and carbon, parking fines, and overpayments) costs. But traffic- and parking-related prices made up nearly half (45%) of the total cost of ownership in the United States. Also, drivers spend more than USD 3,000 yearly on parking-related prices.
  • On the other hand, the overall rate of car ownership in the U.S. has been trending upward. According to OICA, in 2021, almost 9.2 million motor vehicles will be produced in the United States, and the number is expected to increase in the upcoming years. Thus with the rise in the number of cars, the need for parking spaces and efficient management will also increase, which will facilitate the overall market growth in the region.
  • As per the INRIX study, drivers in New York waste 107 hours per year searching for a parking spot that costs more than USD 2,200 in time, fuel, and emissions per driver. Additionally, finding parking in Los Angeles and San Francisco takes drivers 85 and 83 hours, respectively. Thus, lost time, fuel, and carbon emissions have an overall economic effect of USD 72.7 billion.
  • Moreover, the United States population is growing and shifting from rural to urban areas. According to the world bank, about 83% of the population will live in urban areas in the year 2021. This is expected to increase to more than 85% by 2030. These factors are expected to push further improvements in the parking management system.
Parking Management Market : Growth Rate by Region (2022-2027)

Competitive Landscape

Due to the existence of numerous players, the parking management system is fragmented. Moreover, the sector is characterized by fierce competition because of partnerships and recent advancements in the parking management market. DELOPT, and Bond Traffic Solutions, among other companies, are some of the major participants in the field. Recent changes in the market include:

  • July 2022 - The UK's fastest-growing parking technology provider, YourParkingSpace, has been acquired by the global leader in urban mobility, Flowbird. This acquisition sees Flowbird join forces with YourParkingSpace to expand Flowbird's off-street and digital offerings rapidly.
  • June 2022 - Flowbird Group, a global leader in unattended payment technology and mobile payment applications, has announced the deployment of an Automated Parking integrated fee collection system for Palisades Interstate Park Commission in partnership with a local distributor, Devo & Associates.
  • April 2022 - FLASH, the global leader in cloud parking software and mobility transformation, announced the acquisition of Ticketech, the parking technology leader in New York City. The acquisition expands the network of customers running FLASH's Mobility Hub Operating System and connects New York City's USD 22 billion parking market to the emerging mobility marketplace.

Major Players

  1. DELOPT​

  2. Bond Traffic Solutions​

  3. FlashParking, Inc.

  4. Infocomm Group LLC​

  5. Passport Inc.​

Parking Management Market Concentration

Recent Developments

  • June 2022 - Passport, a leading provider of transportation software and payment services, offers all customers a powerful platform that not only assimilates and aggregates all a city's parking, enforcement, and digital permitting data into one central location but also integrates additional data insights with embedded payments capabilities. Customers can manage a broad array of mobility management complexities in one place to make smart, data-driven decisions that improve their overall operations at the curb.
  • June 2022 - Passport, a top provider of transportation software and payment services that governments rely on to manage their parking and mobility infrastructure, the City of Dayton in Ohio is digitizing its parking operations. The city provides drivers with a mobile alternative to pay for parking at close to 1,300 places due to Passport's platform.
  • June 2022 - APCOA Parking Deutschland has launched a new partnership with the Danish car-sharing provider GreenMobility in Cologne. Ten parking spaces are made available to customers in the Klapperhof and Rheinauhafen underground parking facilities, where customers can pick up and drop off GreenMobility's Renault ZOE e-cars free of charge.

Table of Contents


    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study




    1. 4.1 Market Overview

    2. 4.2 Industry Attractiveness - Porter's Five Force Analysis

      1. 4.2.1 Threat of New Entrants

      2. 4.2.2 Bargaining Power of Buyers

      3. 4.2.3 Bargaining Power of Suppliers

      4. 4.2.4 Threat of Substitute Products

      5. 4.2.5 Intensity of Competitive Rivalry

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Impact of Covid-19 on the Market


    1. 5.1 Market Drivers

      1. 5.1.1 Increasing Need for Traffic Management and Fuel Saving

      2. 5.1.2 High Adoption of Cloud Computing Technologies

    2. 5.2 Market Restraints

      1. 5.2.1 Security Concerns and Complexity in System Integration


    1. 6.1 Deployment Type

      1. 6.1.1 On-premise

      2. 6.1.2 Cloud-based

    2. 6.2 Parking Site

      1. 6.2.1 Off-street

      2. 6.2.2 On-street

    3. 6.3 Geography

      1. 6.3.1 North America

        1. United States

        2. Canada

      2. 6.3.2 Europe

        1. United Kingdom

        2. Germany

        3. Rest of Europe

      3. 6.3.3 Asia Pacific

        1. China

        2. Japan

        3. South Korea

        4. Rest of Asia Pacific

      4. 6.3.4 Latin America

        1. Brazil

        2. Mexico

        3. Rest of Latin America

      5. 6.3.5 Middle East and Africa

        1. United Arab Emirates

        2. South Africa

        3. Rest of Middle East and Africa


    1. 7.1 Company Profiles

      1. 7.1.1 DEPLOT

      2. 7.1.2 Bond Traffic Solutions

      3. 7.1.3 FlashParking, Inc.

      4. 7.1.4 TIBA Parking

      5. 7.1.5 Infocomm Group LLC

      6. 7.1.6 Passport Inc.

      7. 7.1.7 Nex Valet LLC

      8. 7.1.8 Amano McGann​

      9. 7.1.9 SAP SE

      10. 7.1.10 Q-Free ASA

      11. 7.1.11 Parkmobile USA Inc.

      12. 7.1.12 Siemens AG

    2. *List Not Exhaustive


**Subject to Availability
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Frequently Asked Questions

The Parking Management Market market is studied from 2020 - 2027.

The Parking Management Market is growing at a CAGR of 10.3% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

Europe holds highest share in 2021.

DELOPT​, Bond Traffic Solutions​, FlashParking, Inc., Infocomm Group LLC​, Passport Inc.​ are the major companies operating in Parking Management Market.

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