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The parking management solutions market size is forecast to increase by USD 3.05 billion, at a CAGR of 7.1% between 2023 and 2028. The market is witnessing significant growth due to the increasing number of vehicles on the road and the subsequent demand for efficient parking management systems. Innovative products and services, such as cash machines, LED displays, and vehicle dashboard applications, are gaining popularity, enabling contactless payments and real-time parking information. However, challenges persist in the form of the lack of integration among siloed parking technologies, reliance on paper tickets and parking wardens, and the need for hardware-based management systems. Barrier arms and cash payments remain common in commercial and mall car parks, but the market is shifting towards more advanced solutions, such as mobile applications and RFID technology, to streamline the parking experience for users.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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