The Parking Lots and Garages by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Parking Lots and Garages, The parking lots and garages market size has grown steadily in recent years. It will grow from $98.45 billion in 2023 to $102.35 billion in 2024 at a compound annual growth rate (CAGR) of 4.0%. The growth in the historic period can be attributed to lack of sufficient parking due to rising motor vehicles, rapid urbanization, growth in world population and strong economic growth in emerging markets.
The parking lots and garages market size is expected to see steady growth in the next few years. It will grow to $119.91 billion in 2028 at a compound annual growth rate (CAGR) of 4.0%. The growth in the forecast period can be attributed to rising number of vehicles across the world and increasing investment in the parking lot and garages company. Major trends in the forecast period include mergers and acquisitions, partnerships and collaborations and focus on wireless smart parking sensors.
The lack of sufficient parking due to rising motor vehicles use in developing economies is expected to drive the global parking lots and garages market. Market liberalization has caused a severe increase in transport, one of the important economic sectors, and its operational efficiency, which in turn has led to increased stagnant traffic in cities. For instance, in India, the average volume of traffic related to parking during peak times can reach 30%–50% of total traffic according to a research study published by the Journal of Traffic and Transportation Engineering. Commuters in Indian cities spend over 80 hours a year looking for parking spaces due to the lack of parking spaces in Indian cities amid a growing population of vehicles. The imbalance between parking supply and parking demand due to the increasing use of vehicles in developing economies is driving the growth of the parking lots and garages market.
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The parking lots and garages market covered in this report is segmented –
1) By Type: Airport & Rail, Hospitals, Hotel And Restaurants, Shopping Centers, Privately Owned, Others
2) By Site: On Street, Off Street
3) By Technology: Smart Parking Using IOT, Automation, Unautomated
The wireless smart parking sensor for detecting parking space occupancy is an emerging trend in the global parking lots and garages market. The Parking Lot Sensor (PLS) senses and records the occupancy of parking spaces, allowing active parking lots management functionality such as search, navigation, and reservation. The sensors help in the effective management of parking spaces in cities. For instance, BOSCH recently launched a parking lot sensor that utilizes the LoRaWAN protocol for wireless communication. This sensor helps in guided and regulated parking, which removes traffic limitations.
The parking lots and garages market report table of contents includes:
1. Executive Summary
2.Parking Lots and Garages Market Characteristics
3.Parking Lots and Garages Market Trends And Strategies
4.Parking Lots and Garages Market analysis
5.Parking Lots and Garages Market Size And Growth
6.Parking Lots and Garages Segmentation
7.Parking Lots and Garages Regional And Country Analysis
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27.Parking Lots and Garages Competitive Landscape And Company Profiles
28.Parking Lots and Garages Key Mergers And Acquisitions
29. Parking Lots and Garages Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- Impark Parking Corporation
- LAZ Parking Ltd. LLC,
- Park24
- Lanier Parking
- Abm Industries Inc
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Our reports have been revised for market size, forecasts, and strategies to take on 2021 after the COVID-19 impact: https://www.thebusinessresearchcompany.com/global-market-reportsThe Parking Lots and Garages Global Market Report 2020-30 by The Business Research Company describes and explains the global parking lots and garages market and covers 2015 to 2020, termed the historic period, and 2020 to 2025, termed the forecast period, along with further forecasts for the period 2025-2030.
The report evaluates the market across each region and for the major economies within each region.The Parking Lots and Garages Global Market Report 2021 covers parking lots and garages market drivers, parking lots and garages market trends, parking lots and garages market segments, parking lots and garages market growth rate, parking lots and garages market major players, and parking lots and garages market size.View Complete Report:https://www.thebusinessresearchcompany.com/report/parking-lots-and-garages-global-market-report-2020-30-covid-19-growth-and-changeThe parking lots and garages market report provides an in-depth analysis of the impact of COVID-19 on the global parking lots and garages industry, along with revised market numbers due to the effects of the coronavirus and the expected parking lots and garages market growth numbers 2021-2030.Parking Lots and Garages Global Market Report 2021 is the most comprehensive report available on this market and will help gain a truly global perspective as it covers 60 geographies.
The chapter on the impact of COVID-19 gives valuable insights on supply chain disruptions, logistical challenges, and other economic implications of the virus on the market.
The chapter also covers markets which have been positively affected by the pandemic.Request For The Sample Now: https://www.thebusinessresearchcompany.com/sample.aspx?id=3487=smpThe global parking lots and garages market is expected to grow from $85.97 billion in 2020 to $94.82 billion in 2021 at a compound annual growth rate (CAGR) of 10.3%.
The market is expected to reach $118.98 billion in 2025 at a CAGR of 5.8%.The report covers the parking lots and garage market segments- 1) By Type: Airport Parking And Garages, Events And Venues (Stadiums For Sporting Events), Healthcare Parking, Hospitality Parking, Municipal Parking, Office Parking, University Parking, Retails Parking, Residential Parking.2) By Site: Off Street, On Street.3) By Technology: Smart Parking Using IoT, Automation.About The Business Research Company: The Business Research Company is a market research and intelligence firm that excels in company, market, and consumer research.
It has over 200 research professionals at its offices in India, the UK and the US, as well a network of trained researchers globally.
Running a prosperous business indicates you have got to prioritize customer support on every level - even in terms of parking.
Get extra information and facts about Installation of parking lots For one point, poor parking lot upkeep could be a matter of safety.
That’s why it’s worthwhile to invest in things like high-quality lighting and bright parking stripes.
Plus, it is attainable to lessen parking lot congestion if you’re strategic with suitable maintenance.Consider the following statistic from the National Safety Council.
By taking preventative maintenance measures, though, you could lower that number - in your lot, no less than.Preserve your employees and consumers protected every time they drive by means of your parking lot.
Don’t be concerned - it is worth your business’s investment.1.
