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]

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How Useful is Parking Management

One of the primary reasons why parking management is so useful is that it helps to optimize limited parking spaces in urban areas. With the rise in population and vehicle ownership, parking lots can often become overcrowded and chaotic without proper organization and regulation. Through the implementation of parking management strategies such as time-limited parking, permit parking, and pay-to-park systems, cities can ensure that parking spaces are used efficiently and effectively.

In addition to optimizing parking spaces, parking management also plays a crucial role in reducing traffic congestion and improving overall transportation efficiency. By implementing measures such as parking restrictions, pricing incentives for off-peak hours, and promoting alternative modes of transportation, cities can help to alleviate traffic congestion on the roads and reduce greenhouse gas emissions. This not only benefits the environment but also contributes to making our cities more livable and sustainable for everyone.

Furthermore, effective parking management can also have a positive impact on local businesses and economies. Studies have shown that convenient and accessible parking facilities can attract more customers to businesses, increase property values, and support local economic development. By implementing parking management strategies that prioritize the needs of both businesses and residents, cities can create a vibrant and thriving commercial environment that benefits everyone.

Another important aspect of parking management is its role in promoting safety and security in urban areas. Properly managed parking facilities can help to deter crime, reduce the risk of accidents, and provide a sense of security for pedestrians and drivers. By monitoring and maintaining parking facilities, cities can create a safe and welcoming environment for residents and visitors alike.

Overall, the importance of parking management cannot be overstated in the context of urban planning and development. As the demand for parking continues to grow, cities must prioritize effective and sustainable parking management strategies to ensure that our communities remain vibrant, livable, and efficient. By optimizing parking spaces, reducing traffic congestion, supporting local businesses, and promoting safety and security, parking management can have a significant and positive impact on the quality of life in cities around the world.

In conclusion, parking management is not only useful but essential for the continued growth and success of our urban areas. Through proactive planning, innovative strategies, and community engagement, cities can effectively address parking challenges and create a more sustainable and inclusive environment for all. Let us continue to prioritize parking management as a critical component of urban planning and development to promote a brighter and better future for our cities.

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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