Parking Management Statistics


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Parking Management Statistics 2023: Facts about Parking Management outlines the context of what’s happening in the tech world.

LLCBuddy editorial team did hours of research, collected all important statistics on Parking Management, and shared those on this page. Our editorial team proofread these to make the data as accurate as possible. We believe you don’t need to check any other resources on the web for the same. You should get everything here only 🙂

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Top Parking Management Statistics 2023

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Parking Management “Latest” Statistics

  • The parking lot management market size is expected to exceed USD 3 billion in 2020 and grow at around GR 12.00 from 2021 to 2027.[1]
  • The parking management market in the United States is expected to register a growth rate of approximately 10% by 2027, driven by increasing demand for commercial parking facilities.[1]
  • In the UK, market demand for parking management from the transport sector is expected to increase by 17% by 2027 due to accelerating smart city construction.[1]
  • In 2020, the maintenance segment accounted for over 15% of his parking lot management market share.[1]
  • The market size of parking management in Europe accounts for more than 30% of the revenue share in 2020.[1]
  • The global parking management market size is estimated at USD 4.38 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 12.1% from 2023 to 2030.[2]
  • The revenue management segment will hold the largest market share of over 25% in 2022.[2]
  • The support and maintenance segment will have the largest market share of over 40% in 2022.[2]
  • The on-premise segment accounts for more than 60% of its market share in 2022 due to its various advantages.[2]
  • The off-street parking segment held over 70% market share in 2022 due to the increasing number of vehicles on the road posing infrastructure challenges.[2]
  • ParkMobile is available in approximately 2,700 outdoor parking spaces at the University.[2]
  • The government sector accounted for over 55% of the market share in 2022.[2]
  • The North American region dominated the parking management market with over 35% market share in 2022.[2]
  • The market size as measured by revenue of the valet parking industry is expected to reach USD 1.7 billion by 2023.[3]
  • The market size of the valet parking industry is projected to grow by 8% in 2023.[3]
  • The Australian valet parking industry market size is declining at an average annual rate of 2.2% between 2018 and 2023.[3]

Also Read

How Useful is Parking Management

One of the main benefits of parking management is that it helps alleviate traffic congestion and reduce emissions in busy urban areas. By efficiently managing parking spaces and encouraging alternative modes of transportation like public transit, biking, or walking, cities can help to reduce the number of cars on the road and ease the strain on their transportation infrastructure. This not only makes it easier to get around but also improves air quality and reduces the overall carbon footprint of a city.

In addition to easing traffic congestion, effective parking management can also boost local businesses and economic development. By ensuring that parking spaces are readily available and conveniently located near commercial areas, cities can help increase foot traffic and drive more business to local shops and restaurants. Studies have shown that convenient parking is a key factor for consumers when deciding where to shop, dine, or visit, so having well-managed parking options can make a big difference in supporting the local economy.

Moreover, parking management can also help to increase safety and reduce crime in urban areas. Well-lit and maintained parking facilities, coupled with strategic location and design, can help to deter criminals and create a safer environment for residents and visitors. Studies have shown that properly managed parking can lead to a decrease in crimes such as theft, vandalism, and assault, making communities feel safer and more secure.

Beyond these tangible benefits, parking management also has a more subtle impact on the overall quality of life in a city. By providing well-maintained and efficient parking options, cities can help to create a more pleasant and welcoming environment for residents and visitors alike. Easy access to parking can make it more convenient to attend events, visit parks, or explore local attractions, enhancing the overall experience of living in or visiting a city.

Overall, parking management may seem like a small and mundane aspect of urban planning, but its effects are far-reaching and can have a significant impact on a city’s livability and sustainability. By implementing strategies to efficiently manage parking spaces, cities can alleviate traffic congestion, boost local businesses, increase safety and security, and improve the overall quality of life for their residents. In an era where urbanization and environmental concerns are at the forefront of public discourse, effective parking management is a key tool that cities can use to create more sustainable and enjoyable communities for all.

Reference

  1. gminsights – https://www.gminsights.com/industry-analysis/parking-management-market
  2. grandviewresearch – https://www.grandviewresearch.com/industry-analysis/parking-management-market
  3. ibisworld – https://www.ibisworld.com/au/market-size/parking-services/

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