The system that is developed to help individuals book car (vehicle) parking space online is termed as parking reservation system. The system is known to instantly enhance the website by helping customers reserve car parking spaces, access additional services and even pay online. Customers can reserve spaces from the comfort of their house or on the go. Emergence of parking reservation system has enabled admins to add several parking space options as they require, set prices, offer discounts as well as availability period and more. Furthermore, the smart parking technology has increased productivity reduced operating costs, added facility value and more.
There are numerous drivers, restraints and opportunities shaping the future of parking reservation system. The growing demand for real time car parking data, new smart city projects and rising number of cars are few of the many factors contributing to the growth of the market. Besides this, the several new smart city projects in the pipeline would create greater opportunities for the parking reservation management in years to come. Moreover, North America market is likely to project greater opportunities for the car parking management systems as well as solutions. Installation of these systems is still a costly affair for many small enterprises and acts as a major obstacle.
The parking reservation system market is segmented by devices, services, geography, software, industry and solutions. In terms of devices the market is segmented into parking management meters, ticket writers, occupancy sensors and more. Business verticals served by the market includes hospitals, healthcare, recreations, and others. Key services of the market include deployment model and maintenance. Market is also segmented in terms of solutions such as valet parking management system, surveillance and security, access control and others. Regions including North America, Europe, Asia-Pacific etc. would generate huge revenues.
Brands are now partnering with technology companies such as SAP, Oracle etc.to provide planners a 360 degree view of the information including traffic controls, street lightings and more. Companies are seen appointing new managers to streamline their strategic business developments, operations and others. Acquisition and mergers, collaboration & research and development measures have kept the future of the market bright. Prominent market players consist of TCS International Inc, Complus Data Innovations, Inc., Energy Development Corporation, Group Techna, Inc., Siemens AG, Passport Parking, 3M Company, Amano Corporation, LLC, Affiliated Computer Services, HCL Technologies Ltd., and others.
KEY BENEFITS FOR STAKEHOLDERS
- By applying advanced analytics the study highlights the key market drivers, restraints and opportunities that are influencing the growth rate worldwide.
- Primary and secondary research techniques are used to examine the competition level and customer preference across different regions.
- SWOT analysis of the key market players brings out the strengths, weaknesses, opportunities and threats, and explores how brands manage to stay competitive.
- Exploratory function of the research digs deep into the technologic advancements backed by impact analysis.
- The market research report further offers clarity in the growth and adoption rate of the market.
- Up-to-date assessment of the market news and policy is also discussed in the market research report.
- The upstream and downstream market is thoroughly evaluated in the study.
PARKING RESERVATION SYSTEM MARKET KEY SEGMENTS
Parking Reservation System Market By Device
- Automated Gates
- DVRs and Surveillance Cameras
- Ultrasound Occupancy Sensors
Parking Reservation System Market By Solution
- Valet Parking Management Solution
- Surveillance & Security
- Revenue Management
- Slot management
- Access Control
Parking Reservation System Market By Software
- Payment Software
- Information System
Parking Reservation System Market By Service
- Customization & Deployment Model
- Support & Maintenance Services
Parking Reservation System Market By Industry
- Government Bodies
- Commercial Parks
Parking Reservation System Market By Geography
- North America
- Asia Pacific
- Middle East & Africa
- Latin America
Key Market Players
- TCS International Inc,
- Complus Data Innovations, Inc.
- Energy Development Corporation
- Group Techna, Inc.
- Siemens AG
- Passport Parking
- 3M Company
- Amano Corporation, LLC
- Affiliated Computer Services
- HCL Technologies Ltd.