MARKET OVERVIEW
The increased vehicle production and traffic congestion generate the demand for smart solutions for parking reservations. The advent of location services and the development of interactive apps have positively influenced the growth of the parking reservation system market during the forecast period. Furthermore, the development of parking complexes offers lucrative growth opportunities for market players in the coming years.
MARKET SCOPE
The "Global Parking Reservation System Market Analysis to 2028" is a specialized and in-depth study of the automotive and transportation industry with a special focus on the global market trend analysis. The report aims to provide an overview of the parking reservation system market with detailed market segmentation by type, solution, industry vertical, and geography. The report provides key statistics on the market status of the leading parking reservation system market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on type, the global parking reservation system market market is segmented into off-street parking, and on-start parking.
- On the basis of solution, the market is segmented into web-based solution, mobile application-based solution, and voice call-based solution.
- On the basis of industry vertical, the market is segmented into transportation and transit, retail, government, hospitality, recreation, and others.
MARKET DYNAMICS
Drivers
- 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.
Restraints
- Installation of these systems is still a costly affair for many small enterprises and acts as a major obstacle.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The parking reservation system market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the Parking reservation system market in these regions.
IMPACT OF COVID-19 ON PARKING RESERVATION SYSTEM MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
MARKET PLAYERS
The report covers key developments in the parking reservation system market organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from Parking reservation system market market are anticipated to lucrative growth opportunities in the future with the rising demand for parking reservation system market in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the Parking reservation system market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Ace Parking Management Inc.
- APCOA PARKING Holdings GmbH
- Indigo
- INRIX Inc.
- JustPark Limited
- LAZ Parking
- Park24 Co., Ltd.
- Q-Park
- SP Plus Corporation
- Streetline
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.