Parking Management Market-Industry Share, Growth, Trends, Analysis Global Parking Management Market Analysis According to Planet Market Reports, the global parking management market was valued at USD 3.12 Billion in 2018 and is projected to reach USD 5.95 Billion by 2026, growing at a CAGR of 8.35% from 2019 to 2026.
Access Full Report with TOC @ https://www.planetmarketreports.com/reports/parkingmanagement-market-2019-2026 What Is Parking Management? Parking Management refers to the managing and using the resources available for parking the vehicles effectively and efficiently. Due to urbanization, development of infrastructure in metro cities, tier 2, tier 3 and towns, the parking of the vehicles became difficult. Also, the space available for parking the vehicles isn’t accommodating the large number of vehicles as there is increase in number of vehicle users. Parking Management provides extra space to accommodate the extra vehicles with smart parking system, mechanical parking, using the regulations, policies and programs. Global Parking Management Market Outlook In the report, the market outlook section mainly encompasses fundamental dynamics of the market which include drivers, restraints, opportunities and challenges faced by the industry. Drivers and restraints are intrinsic factors whereas opportunities and challenges are extrinsic factors of the market. Planet Market Reports narrows down the available data using primary sources to validate the data and use it in compiling a full-fledged market research