Parking Management Market Size, Share and Global Market Forecast
Parking Management Market The Parking Management Market is projected to grow at robust CAGR of 10.7% CAGR over the forecast period and anticipated to reach USD 7,149 Million by 2027. The factors driving the growth of Parking Management Market includes increasing traffic congestion around the world, growing population density, rising adoption of smartphones-based parking management applications. As per the data available at World Bank, the population density (people/sq km of land) in India has increased drastically from around 460 in 2019 to 464 in 2020, which is expected to accelerate the demand for Parking Management Systems in Indian Market, in the coming few years. Moreover, the increasing migration from rural areas to cities and extensive use of existing public transport systems, are augmenting the Global Parking Management Market . In addition, the increasing number of smart cities, growing demand for smart parking solutions and integration of advanced technologies such as A...