New York, Aug. 12, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Parking Management Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Parking Site, Solutions, Services, Deployment" - https://www.reportlinker.com/p06128427/?utm_source=GNW
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.
The parking management market is segmented on the bases of parking site, solutions, services, deployment type, and geography.Based on parking site, the global parking management market is segmented into on-street parking and off-street parking.
In 2020, the off-street parking segment led the parking management segment accounted for a larger share in the market.Based on solution, the parking management market is segmented into parking guidance solutions, parking reservation solutions, parking security & surveillance solutions and others.
In 2020, the others segment led the parking management segment accounted for a larger share in the market.Based on services, the parking management market is segmented into managed services and professional services.
In 2020, the managed services segment led the parking management segment accounted for a larger share in the market. Based on Deployment, the parking management market is segmented into cloud, and on-premise. In 2020, the on-premise segment led the parking management segment accounted for a larger share in the market. Geographically, the market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). In 2020, Asia Pacific accounted for the significant share in the global market.
The impact of COVID-19 differed from country to country across the European region as selected countries witnessed an increase in the number of recorded cases and subsequently attracted strict as well as more extended lockdown periods or social isolation.However, Western European countries such as Germany, France, Russia, and the UK have seen a comparatively modest decrease in their growth activities because of the robust healthcare system.
To protect its citizens from the COVID-19 virus, the European government has made tremendous investments in incorporating technologies in its healthcare systems to help identify signs of the virus.For instance, during the COVID pandemic, The Belgian Parking Federation (FBS), which collaborated with companies that are operating on- and off-street parking lots in Belgium, is very concerned about the crisis caused by the coronavirus in the country.
It fully supports the measures taken at the various levels of power to decrease the spread of the coronavirus.Therefore, the overcrowding of public transport (PT) stations and vehicles signifies a high-level risk of contamination; hence governments and local authorities employed restriction measures to limit the use of parking spaces.
The main priority has been to guarantee the safety and protection of staff and infrastructures.
The overall parking management market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
The process also serves the purpose of obtaining an overview and forecast for the parking management market with respect to all the segments.It also provides the overview and forecast for the market based on all the segmentation provided with respect to five major regions—North America, Europe, Asia Pacific, Middle East and Africa, and South America.
Also, primary interviews were conducted with industry participants and commentators to validate data and gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the parking management market.
The key companies operating in the field of parking management across the globe include Indigo Parking Service, Streetline, Flowbird Group, Parkmobile, TIBA Parking, Smart Parking Limited, T2 Systems, Swarco, Passport Inc., and Siemens AG, among others. Several other players are also functioning in the market worldwide, contributing significant revenue shares year on year.
Read the full report: https://www.reportlinker.com/p06128427/?utm_source=GNW
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