| Study Period | 2019 - 2032 |
| 2024 Market Size | USD 5.21 Billion |
| 2025 Market Size | USD 5.69 Billion |
| 2032 Forecast | USD 11.34 Billion |
| Growth Rate (CAGR) | 10.34% |
| Largest Region | North America |
| Fastest Growing Region | APAC |
| Nature of the Market | Fragmented |
| Largest End User Category | Government |
|
The parking management market valued USD 5.21 billion in revenue in 2024 and witness a CAGR of 10.34% during 2025–2032, reaching USD 11.34 billion by 2032. This is driven by the increasing demand for AI-based services, the rising number of vehicles globally, the growing need for parking spaces, and the emerging need for effective traffic management solutions.
Further, advanced technology in automatic cars offers major opportunities for the expansion of the parking management market. Additionally, smart infrastructure is being adopted by several governments globally. These advancements contribute to a more-streamlined and sustainable approach to parking management, aligning with broader smart city initiatives, and improving overall urban planning.
Want a report tailored exactly to your business need?
Request Customization
Working with P&S Intelligence and their team was an absolute pleasure – their awareness of timelines and commitment to value greatly contributed to our project's success. Eagerly anticipating future collaborations.
McKinsey & Company
India
Our insights into the minutest levels of the markets, including the latest trends and competitive landscape, give you all the answers you need to take your business to new heights
We take a cautious approach to protecting your personal and confidential information. Trust is the strongest bond that connects us and our clients, and trust we build by complying with all international and domestic data protection and privacy laws
Customize the Report to Align with Your Business Objectives
Request the Free Sample Pages