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LONDON--(BUSINESS WIRE)--The parking management solutions market is expected to grow by USD 3.42 billion, progressing at a CAGR of over 8% during the forecast period. Click & Get Free Sample Report in Minutes The growth in smart parking deployment projects is one of the major factors propelling market growth. However, factors such as lack of integration among siloed parking technologies will hamper the market growth. More details: https://www.technavio.com/report/parking-management-solutions-market-industry-analysis Parking Management Solutions Market: Type Landscape Off-street parking refers to the parking of vehicles in parking facilities such as garages and lots. The growing focus on improving city infrastructure and the rising number of malls, restaurants, and SMEs globally are driving the construction of off-street parking facilities. Off-street parking facilities are primarily built by private business enterprises for their customers. These facilities are integrated with advanced technologies. This is a major contributor to the off-street parking management solution market segment. Parking Management Solutions Market: Geographic Landscape North America was the largest parking management solutions market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The increase in the requirement of traffic management will significantly drive parking management solutions market growth in this region over the forecast period. 32% of the markets growth will originate from North America during the forecast period. The US and Canada are the key markets for parking management solutions in North America. Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free. View market snapshot before purchasing Related Reports on Information Technology Include: Intelligent Parking Systems Market by Type and Region - Forecast and Analysis 2020-2024: The intelligent parking systems market size has the potential to grow by USD 5.2 bn during 2020-2024, and the markets growth momentum will accelerate during the forecast period. To get extensive research insights: Click and Get FREE Sample Report in Minutes! Smart Parking Market by Type and Geography - Forecast and Analysis 2020-2024: The smart parking market size has the potential to grow by USD 5.22 billion during 2020-2024, and the markets growth momentum will accelerate during the forecast period. To get extensive research insights: Click and Get FREE Sample Report in Minutes! Companies Covered: What our reports offer: Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavios in-depth research has direct and indirect COVID-19 impacted market research reports. Register for a free trial today and gain instant access to 17,000+ market research reports. Technavio's SUBSCRIPTION platform Key Topics Covered: Executive Summary Market Landscape Market Sizing Five Forces Analysis Market Segmentation by Product Market Segmentation by Type Customer landscape Geographic Landscape Vendor Landscape Vendor Analysis Appendix About Us Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavios report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavios comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Answer: Parking Management Solutions Market by Type (off-street parking and on-street parking), Product, and Region - Global Forecast to 2024 |Technavio