{"product_id":"us-parking-management-outlook-2028","title":"US Parking Management Outlook 2028","description":"\u003cp\u003eUS Parking Management Outlook 2028 \u003cbr\u003e\nMarket Overview:\u003c\/p\u003e\n\n\u003cp\u003eParking management in the United States is a substantial industry, driven by factors like urbanization, increasing vehicle ownership \u0026amp; the need for efficient parking solutions. The market consists of various types of parking facilities: on-street parking, off-street parking lots, garages \u0026amp; parking structures. These facilities are managed by municipalities, private companies \u0026amp; commercial property owners.  Numerous companies specialize in providing comprehensive parking facility, designs, operations \u0026amp; they offer services like parking facility, design, operations, maintenance \u0026amp; revenue management.\u003c\/p\u003e\n\n\u003cp\u003eAdvancement in technology has significantly impacted the parking management solutions. Many parking systems incorporate smart parking systems including sensors, cameras \u0026amp; mobile applications, to optimize parking space utilization \u0026amp; enhance overall user experience. Cashless payment methods like mobile apps \u0026amp; contactless systems have gained popularity, making it more convenient for drivers to pay for parking \u0026amp; reducing US Parking Management is a fragmented market, as it consists of established players \u0026amp; newer technology driven entrants. There have been a few players like Siemens, Flash Parking, TIBA Parking Systems etc. which offer parking management services on a national or regional scale, there are many smaller scale companies which have smaller, local operators \u0026amp; technology start-ups which offer innovative solutions.\u003c\/p\u003e\n\n\u003cp\u003eUS Parking Management Market Analysis\u003c\/p\u003e\n\n\u003cp\u003eAs wireless technology advances \u0026amp; integrated automated solutions start to become more available, parking management solutions are expected to become more popular. In addition to increasing mobility in urban areas, parking management systems also provide a constant revenue stream.\u003c\/p\u003e\n\n\u003cp\u003eInfill \u0026amp; smart growth are both promoted by parking management, which reduces the amount of land necessary for parking facilities, decreases the amount of driving \u0026amp; makes infill more affordable.\u003c\/p\u003e\n\n\u003cp\u003eModern parking technologies like Multi space use meters that are more efficient than individual parking meters, State-of-the-art processes can modify pricing based on tenancy, offer motorcyclists knowledge about available parking spaces \u0026amp; wide variety of payment options are driving the growth of United States market.\u003c\/p\u003e\n\n\u003cp\u003eKey Trends by Market Segment:\u003c\/p\u003e\n\n\u003cp\u003eBy Parking Sites:This market is segmented into On-street \u0026amp; Off-street market \u0026amp; Cloud Market model. Off-street market has been a dominant segment in 2022. As urban areas aim to expand, the demand for parking spaces continue to exceed the supply. In densely populated cities, traditional parking facilities may not be able to keep up with the increasing demands, leading to emergence of off-parking solutions.\u003c\/p\u003e\n\n\u003cp\u003eBy Deployment:US Parking Management Market is divided into segments based on Deployment, which includes On-premise \u0026amp; Cloud Segments.  On-premise has been the dominant segment in the market in 2022. It offers enhanced benefits which includes enhanced security, reduced chances of downtime \u0026amp; better accessibility. Organizations have better control over their data.\u003c\/p\u003e\n\n\u003cp\u003eBy Geography:The US Parking Management market is segmented into four regions: North, South, East \u0026amp; West. The North region has been a dominant region in the US in 2022. These are densely populated cities which demand effective utilization of parking spaces \u0026amp; experience challenges associated with urban congestion. It involves a mix of metered street parking, parked garages \u0026amp; permit systems for residents.\u003c\/p\u003e\n\n\u003cp\u003ePopulation Density and Urbanization:The Northern region is the dominant because of the higher population density and greater urbanization. Urban areas generally have higher demand for parking solutions due to limited parking space and higher vehicle density.\u003c\/p\u003e\n\n\u003cp\u003eEconomic Activity:Economic activity, including business centers, commercial districts, and tourist attractions, drives higher demand for parking management services. Northern region has more economic activity with a larger need for efficient parking solutions.\u003c\/p\u003e\n\n\u003cp\u003eTechnological Infrastructure:Northern Regions is equipped with advanced technological infrastructure and has also adopted innovative parking management solutions more readily, which contribute to their dominance.\u003c\/p\u003e\n\n\u003cp\u003eCompetitive Landscape:\u003c\/p\u003e\n\n\u003cp\u003eThe US Parking Management market consists of various leading companies which are operating at regional \u0026amp; national level. On the other hand, there are other companies which are smaller companies with local operators \u0026amp; technology start-ups which offer innovative solutions. The parking sector saw the emergence of various start-ups offering innovative solutions, ranging from parking reservation platforms to parking space sharing services. Established companies have been adapting to changing landscapes by offering new technologies \u0026amp; features. This included companies providing parking equipment (kiosks \u0026amp; barriers), software solutions \u0026amp; consulting services. The COVID-19 pandemic accelerated the adoption of contactless payment \u0026amp; reservation systems. Parking operators are focusing on providing touchless payment options, mobile-based booking \u0026amp; license plate recognitions for seamless entry \u0026amp; exit.\u003c\/p\u003e\n\n\u003cp\u003eRecent Developments:\u003c\/p\u003e\n\n\u003cp\u003eParkMobile, the leading provider of smart parking \u0026amp; mobility solutions in United States. They plan to expand their mobile parking payment system to Pennsylvania. The users will be able to pay for on-demand parking at 420 on-street \u0026amp; off-street spaces through ParkMobile app.\u003c\/p\u003e\n\n\u003cp\u003eEleven-x, a Canadian based IoT company has recently been selected for one of the largest municipal smart parking installations across United States. The project, located in Arlington County, Virginia, aims to bring a new level of efficiency and convenience to parking for both residents and visitors.\u003c\/p\u003e\n\n\u003cp\u003eParkHub, a leading provider of parking software and payments solutions, announced the acquisition of Smarking, a leading provider of parking software for commercial real estate owners, parking operators, and municipalities. Through this, ParkHub broadens its product suite to support existing customers and expands its presence into new end markets.\u003c\/p\u003e\n\n\u003cp\u003eFuture Outlook:\u003c\/p\u003e\n\n\u003cp\u003eUS Parking Management Industry is expected to show increasing and is expected to grow at a CAGR of ~6.5% from 2022 to 2028 with numerous companies, be it large enterprises or local start-ups, providing different kinds of parking facilities, designs \u0026amp; operations\u003c\/p\u003e\n\n\u003cp\u003eSmart parking solutions, including sensor-based parking systems, real-time analytics \u0026amp; mobile apps are likely to become more prevalent. These solutions can help drivers find available parking spaces quickly, reducing congestion \u0026amp; overall traffic flow.\u003c\/p\u003e\n\n\u003cp\u003eContactless payment methods, such as mobile wallets \u0026amp; RFID based systems are expected to become standard in parking facilities. This trend has been accelerated by the COVID-19 pandemic, as people are more inclined to use touchless options for payments.\u003c\/p\u003e\n\n\u003cp\u003eParking management will be closely integrated with urban planning efforts. Cities will focus on designing smarter transportation systems that will promote sustainable mobility, which might lead to an emphasis on personal car ownership.\u003c\/p\u003e\n\n\u003cp\u003eGovernment policies \u0026amp; regulations related to parking may continue to evolve. These changes will shape the way parking is managed \u0026amp; priced, encouraging more sustainable \u0026amp; efficient transportation.\u003c\/p\u003e\n\n\u003cp\u003ePlease Note: It will take 5-7 business days to complete the report upon order confirmation.\u003c\/p\u003e","brand":"Heavy Industry","offers":[{"title":"August, 2023 \/ 85 Pages \/ MCW16221675","offer_id":47631750201650,"sku":null,"price":5700.0,"currency_code":"USD","in_stock":true}],"url":"https:\/\/www.hardmanwell.com\/products\/us-parking-management-outlook-2028","provider":"HARDMAN AND WELL MANAGEMENT CONSULTANCIES L.L.C","version":"1.0","type":"link"}