Parking Management Market Size & Share, by Solution (Access Control, Security & Surveillance, Revenue Management, Parking Reservation Management, Valet Management); Service (Consulting Services, System Integration & Deployment, Support & Maintenance); Deployment Type (On-premise, Cloud); Parking Site (On-Street, Off-Street) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2035

  • Report ID: 5144
  • Published Date: Aug 10, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2023 - 2035

Parking Management Market size is anticipated to surpass USD 67 billion by the end of 2035, growing at a CAGR of 10% during the forecast period i.e., 2023 – 2035. In the year 2022, the industry size of parking management was USD 6 billion. The growth of this market can be attributed to the increasing transformation of urban areas into smart cities around the globe. With the help of innovative data and communication technologies, smart cities adopt housing, mobility, and economic functions. The smart city initiatives offered by the government are expected to offer lucrative growth opportunities for smart parking management systems that can be adopted by smart city solutions.

Besides, increasing vehicle production and escalating the number of vehicles moving roads is also expected to drive the growth of the parking management market in the projected period. As increasing production of vehicles and increasing use of these vehicles would lead to more traffic and congestion on roads as well as in parking spaces, thus it is significant to have a proper parking management solution for them to avoid any kind of traffic or congestion. In 2022, 85.4 million motor vehicles were produced all across the globe.

Parking Management Market
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Parking Management Sector: Growth Drivers and Challenges

Growth Drivers

  • Escalating Technological Advancement – Increasing advancement in technologies such integration of IoT, parking sensors, and digital payment methods are factors boosting the parking management market in future times. Market players are focusing on providing the best customer experience at the same time offering problem-free parking services that can help them to be the odd one out. Organizations can assign parking spots, offer access control, and save administrative costs for parking with the use of immediate time data and analytics. For instance, Robert Bosch GmbH revealed a collaboration with Mercedes-Benz in November 2022 to introduce autonomous self-parking software. The Stuttgart Airport parking lot's designated slots can now be occupied by automobiles with the aid of software.
  • Growing Demand for Electric Vehicles - The rising use electric vehicles pressurizes local authorities to make charging stations in parking spots for better convenience, which further raises the demand for parking management. Companies may maximize their potential thanks to parking management's area optimization services. The need for parking management is expected to increase as a result of features including hassle-free booking, straightforward navigation, smooth customer experience, live reporting, and parking enforcement alternatives. From 4% in 2020 to 14% in 2022, the proportion of electric vehicles in overall sales has more than quadrupled in only three years. Sales of EVs are anticipated to remain robust through 2023. In the first quarter, more than 2.3 million electric vehicles were sold, which is nearly 25% higher than during the same time previous year.
  • High Utilization of Parking Spaces - The growing demand for maximum utilization of parking spaces is also driving the expansion of the market in the forecast timeframe. An integrated and efficient parking management solution can reduce parking needs by 20-40%, help manage city infrastructure, reduce land consumption, improve government revenue, and improve user comfort. 


  • High in Cost – Parking management systems can be expensive to adopt particularly in large cities. This can be a limitation for the market especially for smaller businesses and organizations. Additionally, the expense awareness of the parking spot administrators who work the parking spot in the spot of the parking spot proprietor is a significant barrier for this industry.
  • Complexities Associated with the Adoption of the System
  • Data Security and Privacy Problems Related to IoT

Parking Management Market: Key Insights

Base Year


Forecast Year

2023 – 2035



Base Year Market Size (2022)

~USD 6 billion

Forecast Year Market Size (2035)

~USD 67 billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Parking Management Segmentation

Deployment Type (On-premise, Cloud)

The on-premises segment is set to experience the largest market share of 60% by the end of 2035. The growth can be ascribed on the back of several reasons such as improved security, better accessibility, and less downtime risk. Additionally, they also offer benefits in terms of compliance issues. Another factor due to this segment is highly 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.

Parking Site (On-Street, Off-Street)

The off-street parking segment in the parking management market is predicted to hold the largest revenue share in the time period between 2023 – 2035 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 is furthermore boosted the market growth.

Our in-depth analysis of the global market includes the following segments:


  • Access Control
  • Security & Surveillance
  • Revenue Management
  • Parking Reservation Management
  • Valet Parking Management


  • Consulting Services
  • System Integration & Deployment
  • Support and Maintenance

   Deployment Type

  • On-premise
  • Cloud

   Parking Site

  • On-Street
  • Off-Street

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Parking Management Industry – Regional Synopsis

North America Market Forecasts

The parking management market in the North America is estimated to experience the largest market growth of 34% in the time period between 2023 – 2035. High vehicle ownership rates and urbanization of the region boom the size of the market. The market is growing steadily, with a focus on implementing innovative technologies and creative parking solutions. Due to the increase in the number of cars in countries like Canada and the United States, a smart parking solution is needed to reduce traffic congestion. In 2022, about 1.8 million cars will be produced in the US, up more than 13% from 2021.  Locals also easily adapt to modern parking options due to the ease of use of mobile phones and the availability of mobile applications to find parking spots. The increasing efforts made towards offering better user experience to customers and increasing commercialization are driving the expansion of the sector.

APAC Market Statistics

The Asia Pacific parking management market growth is poised to grow significantly by the end of the predicted period. Increasing government interest is helping growth to create smart cities and increasing public demand for orderly and efficient traffic flow. Development requires smart logistics and transportation. Rapid urbanization and digitalization in the region are predicted to further boost the expansion of the market in the APAC region.

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Parking Management Market Size
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Companies Dominating the Parking Management Landscape

    • Passport Inc.
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
    • SWOT Analysis
    • BondTraffic Solutions
    • APCOA Parking Deutschland
    • TIBA Parking
    • DELOPT
    • YourParkingSpace
    • FlashParking Inc.
    • International Business Machines Corporation
    • Infocomm Group LLC.

In the News

  • YourParkingSpace, one of the UK's fastest-growing providers of parking technology, has been acquired by one of the world's leading urban mobility companies, Flowbird. This acquisition sees Flowbird partnering with YourParkingSpace to rapidly expand Flowbird's digital and terrain offerings.
  • APCOA Parking Deutschland has established a new partnership with Danish car-sharing provider GreenMobility in Cologne. There are 10 customer parking spaces available at the Klapperhof and Rheinauhafen underground car parks, where customers can pick up and drop off Renault ZOE electric cars from GreenMobility free of charge. 

Author Credits:  Abhishek Verma, Hetal Singh

  • Report ID: 5144
  • Published Date: Aug 10, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

The growing integration of electric vehicles and increasing utilization of parking spaces are some of the major factors anticipated to drive the growth of the parking management market.

The market is anticipated to attain a CAGR of ~10% over the forecast period, i.e., 2023 – 2035.

The major players in the market are BondTraffic Solutions, APCOA Parking Deutschland, TIBA Parking, DELOPT, YourParkingSpace, FlashParking Inc., Seimens AG, International Business Machines Corporation, Cubic Corporation, Infocomm Group LLC., and others.

The on-premises segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.

The market in North America is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.
Parking Management Market Report Scope

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