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Parking Management Market To Reach $16.74Bn By 2033

Parking Management Market To Reach $16.74 Billion By 2033

December 2025 | Report Format: Electronic (PDF)

Parking Management Market Growth & Trends

The global parking management market size is expected to reach USD 16.74 billion by 2033, registering a CAGR of 17.1% from 2026 to 2033, according to a new report by Grand View Research, Inc. The growing demand for smart parking sensors, the increasing need for parking spaces, and favorable government initiatives are some of the factors contributing to the market growth.

Smart technologies are experiencing tremendous growth in the parking management system, including parking guidance systems, automated parking, and parking reservation systems. In addition to these technologies, the demand for security and safety of parked vehicles is also increasing rapidly among vehicle owners, which is propelling the procurement of a parking surveillance system. This will create a substantial market space for parking management companies to grow over the years.

Several car park mobile applications have included the feature to reserve a vehicle park space and make payments through mobile wallets. It allows users to save meaningful time spent searching for vacant spaces and provides parking enforcement options, such as adding remote parking spaces and providing parking information to users. For instance, in April 2022, ParkMobile, LLC announced a partnership with Diamond Parking, a parking facility provider in the U.S. Through the partnership the former company offers contactless payments in more than 25 cities across Western Canada, Washington, Alaska, Montana, Hawaii, Oregon, Idaho, California, and Hawaii. ParkMobile will now be accessible at more than 800 Diamond Parking spots.

The increasing availability of integrated automated solutions and advancements in wireless technology are anticipated to drive the adoption of parking management solutions. Moreover, parking management systems aid in increasing mobility in cities and offer a dependable revenue model. These systems use data analytics, wireless communication technology, and sensors to address parking issues in cities and metros.

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Parking Management Market Report Highlights

By component, the solution segment accounted for the largest share of 66.9% in 2025. The service segment is expected to grow at a significant CAGR during the forecast period.
By deployment type, the on-premise segment held the largest market share in 2025. The cloud segment is expected to register the fastest CAGR during the forecast period.
By parking site, the off-street segment dominated the market in 2025. The on-street segment is projected to grow at a significant CAGR over the forecast period.
By application, the government segment dominated the market in 2025. The commercial segment is expected to witness the fastest CAGR over the forecast period.
North America parking management market held a significant share of 37.0% in 2025. The parking management market in the U.S. held a dominant position in 2025.

Parking Management Market Segmentation

Grand View Research has segmented global parking management market report based on component, deployment type, parking site, application, and region:

Parking Management Component Outlook (Revenue, USD Billion, 2021 - 2033)

Solution
- Access Control
- Security & Surveillance
- Revenue Management
- Parking Reservation Management
- Valet Parking Management
- Others
Service
- Consulting Services
- System Integration and Deployment
- Support and Maintenance