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 key benefits of effective parking management is the reduction of traffic congestion in urban areas. By implementing measures such as designated parking areas, time limits, and pricing strategies, cities can encourage drivers to park in designated areas rather than clogging up streets with endless circles in search of a spot. This not only improves traffic flow but also reduces vehicle emissions and contributes to a cleaner and healthier environment for everyone.

In addition to reducing traffic congestion, parking management can also promote alternative modes of transportation such as public transit, biking, and walking. By strategically placing parking facilities near transit hubs or popular destinations, cities can incentivize people to leave their cars at home and opt for more sustainable modes of transportation. This not only reduces the reliance on cars but also helps to alleviate the strain on existing infrastructure, making cities more pedestrian-friendly and accessible for all.

Furthermore, effective parking management can also have a positive impact on economic development and neighborhood revitalization. By creating a balance between parking supply and demand, cities can ensure that businesses have adequate parking for their customers while also encouraging turnover to support a thriving retail environment. Well-managed parking facilities can also attract visitors to a neighborhood, increasing foot traffic and stimulating economic activity.

Beyond these practical benefits, parking management can also play a crucial role in enhancing the overall aesthetic appeal of a city. By prioritizing smart design principles and incorporating green spaces and landscaping into parking facilities, cities can create more inviting and visually appealing environments for residents and visitors alike. This not only improves the overall quality of life in a city but also creates a sense of place and identity that can help to foster a sense of community pride.

Overall, parking management may seem like a mundane and unglamorous aspect of urban planning, but its importance cannot be overstated. By adopting thoughtful and strategic approaches to parking management, cities can create more sustainable, accessible, and vibrant communities that are better equipped to meet the challenges of the 21st century. It is clear that effective parking management is not just about finding a place to park your car but about creating a more livable and resilient urban environment 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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