Parking Management Market Shaped by Integration of ANPR Technology

The global Parking Management Market size was estimated at USD 4,796.8 million in 2024 and is projected to reach USD 9,261.1 million by 2030, growing at a CAGR of 12.6% from 2025 to 2030. The rising application of parking management to reduce traffic congestion and greenhouse gas emissions is driving the growth of the parking management industry.

Parking management helps reduce greenhouse gas emissions from vehicles by decreasing vehicle mobility and congestion caused by searching for parking spaces. In the U.S., the average driver spends approximately 17 hours per year looking for a parking space, which contributes significantly to urban traffic congestion and results in wasted time and resources.

Strategically designed parking systems equipped with sensors, cameras, and RFIDs provide drivers with real-time information on available parking spots, current locations of parked vehicles, and options for digital ticket purchases and payments. These systems continuously update a centralized parking management platform with sensor data, displaying available parking spaces via digital signage and directional indicators. This enhances convenience and safety for drivers. Additionally, integration with mobile applications allows users to reserve parking spots in advance, further reducing time spent searching for a place to park.

Open-source transport applications are also supporting parking management by offering real-time updates about nearby parking availability, navigation, reservations, and pre-booking services. These solutions are helping to build low-cost digital infrastructure and transform urban mobility quickly. Countries have already implemented data analytics to study citizen travel behavior and effectively manage traffic congestion.

Technological advancements such as IoT, AI, and cloud computing are revolutionizing parking management systems. IoT sensors identify available parking spots and instantly update drivers, reducing search time. AI-driven analytics help forecast demand and optimize space usage. Cloud platforms offer centralized control, enabling remote management of parking operations. These innovations enhance efficiency, improve user experience, and lower costs, encouraging both businesses and municipalities to adopt smart parking technologies. With smart transport infrastructure emerging as a cornerstone of urban mobility, these developments are expected to further propel market growth during the forecast period.

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Key Market Trends & Insights

• North America held a significant share of the parking management market in 2024.
• The U.S. dominated the North American market in the same year.
• By component, the solution segment accounted for the largest share at 67.0% in 2024.
• By deployment, the on-premise segment held the largest share.
• By parking site, the off-street segment led the market in 2024.

Market Size & Forecast

• 2024 Market Size: USD 4,796.8 Million
• 2030 Projected Market Size: USD 9,261.1 Million
• CAGR (2025–2030): 12.6%
• Leading Region: North America in 2024

Key Parking Management Company Insights

Prominent players in the market include 3M Company, Amano Corporation, Cubic Corporation, Siemens AG, Kapsch TrafficCom, among others. These organizations are actively expanding their customer base and market presence through strategic collaborations, partnerships, and mergers and acquisitions.

Kapsch TrafficCom is a global leader in intelligent transportation systems, offering cutting-edge solutions for electronic toll collection, traffic management, and connected mobility. With operations in over 50 countries and subsidiaries in more than 25, the company supports city authorities and highway operators in reducing emissions and optimizing road capacity.

Siemens AG, through its Mobility Division, contributes to parking management using advanced sensors, analytics, and intelligent software. Siemens’ radar and overhead sensor technologies provide real-time data on parking space occupancy, assisting drivers in quickly locating available spaces and helping cities reduce congestion and improve urban living.

Leading Companies in the Parking Management Market:

• 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 experiencing robust growth, driven by increasing urbanization, the demand for sustainable mobility solutions, and rapid technological advancements. Smart parking systems are becoming integral to modern city infrastructure, enabling efficient space usage, reducing emissions, and enhancing user convenience. As cities continue to digitize their transportation ecosystems, the integration of IoT, AI, and mobile solutions into parking management will remain a key driver of market expansion and urban development in the coming years.