Deerfield Beach, FL -- (SBWIRE) -- 07/20/2015 -- Global Parking Management Systems Market 2014-2018

Parking is increasingly becoming an important aspect of transportation planning. Parking management can be defined as the process of reducing traffic and street congestion by providing advanced systems with automated management for all types of car parks, offering end to end services. Parking management systems solutions help in various ways such as enhancing security, reducing operating costs, quick ROI, convenience, and smooth payment process.

Global Parking Management Systems market to grow at a CAGR of 11.69 percent over the period 2013-2018.

One key trend emerging in this market is the increased adoption of smart parking technology. With the development of smart parking solutions, parking operators save costs, and also customers are prepared to pay more for parking in exchange for added services such as automated electronic payment and guidance to available parking slots. The overall market is expected to witness a CAGR of 11.69 percent during 2013-2018.

Parking management system software is used to maintain visibility, provide guidance for parking, and reduce the high costs of operation. Therefore, organizations are adopting parking management system software solutions to automate the parking process and to provide better user experience.

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Covered in this Report

This report covers the present scenario and the growth prospects of the Global Parking Management Systems market for the period 2014-2018. To calculate the market size, the report considers revenue generated from the Global Parking Management Systems market, software licenses, applications, services, support and maintenance. The report excludes the Global Parking Management Systems Hardware market revenue. The report is based on only Global Parking Management Systems Software market and service revenue.

The report also presents the vendor landscape and a corresponding detailed analysis of the major four vendors in the market. It provides a geographical segmentation of the markets for the year 2013 and details of the major drivers, challenges, and trends in the market. It covers category and end-user segmentation in the Global Parking Management Systems market.

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"Parking management systems offer centralized management and smart parking solutions to improve and help streamline the parking process in each step, improving the performance of an organization and saving time,".

"Parking management solutions ensure safety and security of vehicles and provide dynamic parking tariff management."

To define the market conditions in the next 3-4 years, Our analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.