Parking Management Market Disruptive Trends and Future Potential

Parking Management Market Size, Challenges and Opportunities

The parking management market is expected to increase from USD 6.23 billion in 2025 to USD 17.48 billion by 2034, growing at a CAGR of 12.14% throughout the forecast period from 2025 to 2034.

Introduction

The parking management market is a prominent branch of the automotive industry. This industry deals in development of solutions for managing traffic around the world. This sector provides different types of solutions including access control, security and surveillance, revenue management, parking reservation management, valet parking management and some others. These solutions are deployed in various modes consisting of cloud and on-premises. It finds application in several sectors comprising of transport transit, commercial, government, and some others. The rising urbanization in different parts of the world has boosted the industrial expansion. This market is expected to grow significantly with the rise of the software industry across the globe.

• According to the Worldometer, around 75.90% of the people live in urban areas and 24.10% in rural areas across Europe in 2025.

Highlights of the Parking Management Market

• North America held the largest share of the parking management market due to the rising smart city projects in this region.
• Asia Pacific is expected to grow with a significant CAGR due to the rapid urbanization in this region.
• The support and maintenance segment held the largest share of the market due to its ability in monitoring parking related issues.
• The on-premise segment led the industry due to its enhanced security and improved accessibility.

Key Metrics and Overview

Parking Management System: Stats & Figures

• According to the worldometers, around 565,025,749 people of Europe live in urban areas in 2025.
• According to the Our World in Data, around 4.61 billion people of the world lived in urban areas during 2023.

Industry Leader Announcement

In March 2025, Yves Schoen, the CEO of Orbility announced that, “We recognized a significant gap in the market for a simple, affordable, and technologically advanced parking solution for smaller sites, SPARK addresses this need by offering a subscription-based model that removes the financial barriers associated with traditional parking systems. This allows our clients to focus on their core business, while we handle their parking needs and allow them to generate additional revenues from their parking spaces & improve their customers’ and visitors’ experience.”

Geographical Insights

North America held the largest share of the parking management market. The growing sales of vehicles in the U.S. and Canada has increased the application of parking management solutions, thereby driving the market growth. Also, the increasing proliferation of smartphones has enabled the people to book parking spaces in online platforms is crucial for the industrial expansion. Moreover, the presence of several market players such as Cubic Corporation, T2 Systems and some others is driving the market growth in this region.

Competitive Landscape

The parking management market is a fragmented industry with the presence of a few dominating players. Some of the prominent companies in this industry consists of ABM Industries, Amano, Bosch, Cubic, Flash Parking, Flowbird Group, Kapsch, Siemens and some others. These companies are constantly engaged in developing parking management systems and adopting numerous strategies to maintain their dominance in this industry.

• According to the annual report of Bosch, the revenue of the company was 88201 million euros in 2022 that increased to 91596 million euros in 2023.

Market Segmentations

By Solution

• Access Control
• Security & Surveillance
• Revenue Management
• Parking Reservation Management
• Valet Parking Management
• Others

By Service

• Consulting Services
• System Integration and Deployment
• Support and Maintenance

By Deployment Type

• Cloud
• On-premise

By Parking-Site

• On-Street
• Off-Street

By Off-Street Parking Site

• Garage Parking
• Lot Parking

By Application

• Transport Transit
• Commercial
• Government

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa