Global Parking Management Market Revenue to Expand at 10.8% CAGR Over Next Ten Years - MarketResearch.biz - Seite 2

High installation and maintenance costs are major factors hampering growth of the global parking management market. In addition, lack of funding for deployment and lack of awareness about advantages of parking systems in underdeveloped economies are other factors hampering growth of the global parking management market.  

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Global Parking Management Market: Market Forecast 

The comprehensive research report comprises a complete forecast of the global parking management market based on factors affecting the market and their impact in the foreseeable future. According to the forecast projections, revenue from the global parking management market is expected to expand at a moderate CAGR of 10.8% during the forecast period.

Global Parking Management Market: Segmental Snapshot 

The market report has been segmented on the basis of application, parking facility, component, solution type, and region. On the basis of application, the global parking management market is segmented into government, commercial, and transport. On the basis of parking facility, the global parking management market is segmented into off-street and on-street. On the basis of component, the global parking management market is segmented into hardware, software, and services. On the basis of solution type, the global parking management market is segmented into revenue management, security & surveillance, access control, reservation management, and valet parking management. The regions covered in the analysis are the Americas, Europe, Asia Pacific, Latin America, and Rest of the World (ROW).

According to parking management market infographics published on MarketResearch.Biz,

By application: Commercial segment accounts for highest market share and is estimated to register a CAGR of over 11.4% between 2017 and 2026.

By parking facility: Off-street segment is estimated to register highest CAGR of 10.9% over the forecast period.

By component: The first five-year cumulative revenue (2017-2021) of the hardware segment is projected to be US$ 16,574.8 Mn, which is expected to increase rather significantly over the latter part of the five-year forecast period.

By solution type: Valet parking management segment is estimated to register a CAGR of 11.9% during the forecast period.

By region: The market in the Americas accounted for highest revenue share in the global parking management market in 2016, and is expected to register a CAGR of over 11.1% between 2017 and 2026.