Parking Management Market To Reach $9.26 Billion By 2030

May 2025 | Report Format: Electronic (PDF)

Parking Management Market Growth & Trends

The global parking management market size is expected to reach USD 9.26 billion by 2030 and is expected to expand at 12.6% from 2025 to 2030, 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

The solution segment accounted for the largest share of 67.0% in 2024. The rise of contactless payments and digital solutions is driving the segment's growth.
The on-premise segment held the largest market share in 2024. Data security and privacy concerns drive the growth of the segment.
The government segment dominated the market in 2024. The ability to collect and analyze data related to parking usage is becoming increasingly vital for government parking management.
The North America parking management market held a significant share in 2024. Smart City initiatives and government support drive the market's growth.

Parking Management Market Segmentation

Grand View Research has segmented the global parking management market on the basis of component, deployment type, parking site, and region:

Parking Management Component Outlook (Revenue, USD Billion; 2018 - 2030)

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