Parking Management Market 2030: Data Analytics Optimizing Space Utilization
The global parking management market was valued at USD 4.80 billion in 2024 and is expected to reach USD 9.26 billion by 2030, expanding at a CAGR of 12.6% from 2025 to 2030.
Parking Management Market Summary
The global parking management market was valued at USD 4.80 billion in 2024 and is expected to reach USD 9.26 billion by 2030, expanding at a CAGR of 12.6% from 2025 to 2030. Market growth is primarily driven by the increasing use of parking management solutions to reduce traffic congestion and lower greenhouse gas emissions in urban areas.
Parking management systems help curb vehicular emissions by minimizing the time vehicles spend circulating in search of parking. In the U.S., an average driver spends approximately 17 hours per year looking for a parking spot—significantly contributing to urban traffic congestion, fuel waste, and lost productivity.
Modern parking systems incorporate sensors, cameras, and RFID technologies to provide real-time updates on available parking spaces, vehicle locations, and digital ticketing options. These systems continuously collect and transmit data to centralized parking management platforms, enabling dynamic digital signage, space availability updates, and optimized traffic flow within parking facilities. When integrated with mobile applications, parking management systems allow users to make advance reservations, streamline payment processes, and reduce overall search time, resulting in greater convenience and operational efficiency.
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Key Market Trends & Insights
- North America held the largest share of the market in 2024, accounting for 37.2%.
- The U.S. maintained its dominant position within the region.
- By component, the solution segment led the market with a 67.0% share in 2024.
- By deployment, on-premise systems held the largest market share in 2024.
- By parking site, off-street parking dominated the market in 2024.
Market Size & Forecast
- 2024 Market Size: USD 4.80 Billion
- 2030 Projected Market Size: USD 9.26 Billion
- CAGR (2025–2030): 12.6%
- Largest Market (2024): North America
Key Parking Management Company Insights
Key players in the market include 3M Company, Amano Corporation, Cubic Corporation, Siemens AG, and Kapsch TrafficCom, among others. Companies are expanding their customer bases through mergers, acquisitions, partnerships, and product enhancements to strengthen their competitive positioning.
- Kapsch TrafficCom specializes in intelligent transportation systems, offering solutions in electronic toll collection, demand management, traffic monitoring, and connected mobility. With a presence in more than 50 countries, the company supports city and highway authorities in optimizing road capacity and reducing emissions.
- Siemens AG leverages advanced sensor technologies, intelligent software, and data-driven systems to support efficient parking management. Through its Mobility Division, Siemens provides radar and overhead sensors that monitor space occupancy and deliver real-time information to control centers. These solutions help drivers locate parking more efficiently while enabling cities to reduce congestion and improve urban mobility.
Key Parking Management Companies
- 3M Company
- Amano Corporation
- Cubic Corporation
- International Business Machines Corporation
- Kapsch TrafficCom
- Siemens AG
- Skidata
- Swarco Corporation
- T2 Systems
- Robert Bosch GmbH
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Conclusion
The parking management market is set for strong expansion through 2030, driven by increasing urbanization, rising traffic congestion, and the need for efficient mobility solutions. Advanced parking systems—integrated with real-time data, automated payments, and mobile connectivity—are transforming urban parking infrastructure by enhancing convenience, reducing emissions, and improving traffic flow. With North America leading adoption and ongoing technological advancements shaping the competitive landscape, the market will continue to evolve toward smarter, more sustainable mobility ecosystems.