Off-street parking management system picking up the pace with TIBA Parking LLC’s new parking management solution

#3200,SEATTLE, WASHINGTION , UNITED STATES, February 18, 2022 /EINPresswire.com/ -- The global off-street parking management system market is estimated to account for US$ 9657.2Mn in terms of value by the end of 2027 and is expected to grow at a CAGR of 9.1% during the forecasted period 2020-27.

Off-street parking provides swift and easy pay and park solutions. It typically saves time by lowering congestion at entrance and exit by automatically dispensing the tickets. While off-site management systems are designed to manage the parking lot on-site, they do not address the complex issues related to city streets. This includes pedestrian safety, parking enforcement, and parking permit issuance. These services can range from providing real-time information about parking permits to controlling the process of issuing parking permits. Some systems even provide the ability to issue permits to residents who do not qualify. Many off-site parking management systems also provide automated monitoring capabilities, which allow owners to receive notifications when parking spaces are not available or for any other reason.

Growing adoption of IoT, cloud, and data analytics technologies is expected to drive growth of the global off-street parking management system market during the forecast period. Cloud computing, data analytics, and IoT have witnessed significant adoption in the recent past. Many public infrastructures including parking systems, traffic systems, etc. is being equipped with IoT and cloud computing, in order to enhance the capabilities.

𝗚𝗲𝘁 𝗜𝗻-𝗗𝗲𝗽𝘁𝗵 𝗤𝘂𝗮𝗹𝗶𝘁𝗮𝘁𝗶𝘃𝗲 𝗔𝗻𝗮𝗹𝘆𝘀𝗶𝘀; 𝗥𝗲𝗾𝘂𝗲𝘀𝘁 𝗮 𝗦𝗮𝗺𝗽𝗹𝗲 𝗥𝗲𝗽𝗼𝗿𝘁 @
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For instance, in October 2020, Parking Lap introduced an affordable and safe Parking Management Software for residential and commercial buildings with automated car parking. Hence, these factors are expected to drive growth of the global off-street parking management system market during the forecast period. Furthermore, increasing demand for optimum utilization of parking spaces is expected to propel the global off-street parking management system market growth over the forecast period.

However, system integration complexities are expected to hinder the global off-street parking management system market growth in the near future. Furthermore, a lack of adequate balance between demand and supply in emerging as well as developed countries are expected to restrain growth of the market in the near future. Among regions, North America is expected to witness massive growth in the global off-street parking management systems market during the forecast period.

This is owing to rising adoption of smart parking management systems in the region. Furthermore, rising traffic congestion in the U.S. is expected to boost regional market growth over the forecast period. Major companies operating in the global off-street parking management system market are 3M Company, Skidata AG, Amano Corporation, IBM Corporation, Kapsch TrafficCom AG, Nortech Control Systems Limited, Xerox Corporation, Cubic Corporation, SWARCO AG, and Tiba Parking.

For instance, in June 2019, Tiba Parking introduced Engage Parking Experience, a new product suite to modernize and transform off-street parking operations.

𝗙𝗼𝗿 𝗠𝗼𝗿𝗲 𝗜𝗻𝗳𝗼𝗿𝗺𝗮𝘁𝗶𝗼𝗻 𝗔𝗯𝗼𝘂𝘁 𝘁𝗵𝗶𝘀 𝗥𝗲𝗽𝗼𝗿𝘁, 𝗚𝗲𝘁 𝗮 𝗦𝗮𝗺𝗽𝗹𝗲 𝗣𝗗𝗙 @
https://www.coherentmarketinsights.com/insight/request-pdf/3805

𝑪𝒐𝒎𝒑𝒆𝒕𝒊𝒕𝒊𝒗𝒆 𝑬𝒏𝒗𝒊𝒓𝒐𝒏𝒎𝒆𝒏𝒕:
➛ Nortech Control Systems Limited
➛ 3M Co.
➛ Swarco AG
➛ Cubic Corporation
➛ Amano Corporation
➛ Kudelski Group (SKIDATA AG)
➛ TIBA Parking LLC
➛ IBM Corporation
➛ Kapsch TrafficCom AG
➛ Xerox Corporation.

What Deliverables Will You Get in this Report?
⇀ In-depth analysis of the Off-Street Parking Management System Market.
⇀ Detailed market segmentation.
⇀ Competitive-landscape analysis.
⇀ Historical, present, and future market size analysis.
⇀ Industry trends, technologies, and advancements.
⇀ Growth and operation strategies adopted by key players.
⇀ Potential segments/regions offering promising growth.
⇀ The geographical presence of the key players.

𝗖𝗹𝗶𝗰𝗸 𝘁𝗵𝗲 𝗟𝗶𝗻𝗸 𝘁𝗼 𝗔𝗽𝗽𝗹𝘆 $𝟮𝟬𝟬𝟬 𝗙𝗹𝗮𝘁 𝗗𝗶𝘀𝗰𝗼𝘂𝗻𝘁 @ https://www.coherentmarketinsights.com/promo/buynow/3805

Reasons to Buy this Off-Street Parking Management System Market Report:
➧ This study presents an analytical depiction of the global Off-Street Parking Management System market along with the current trends and future estimations to depict the imminent investment pockets.
➧ The overall market potential is determined to understand the profitable trends to enable stakeholders to gain a stronger foothold in the market.
➧ The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
Porter's five forces analysis illustrates the potency of the buyers and suppliers in the market.

𝑻𝒉𝒂𝒏𝒌 𝒚𝒐𝒖 𝒇𝒐𝒓 𝒓𝒆𝒂𝒅𝒊𝒏𝒈 𝒐𝒖𝒓 𝒓𝒆𝒑𝒐𝒓𝒕. 𝑷𝒍𝒆𝒂𝒔𝒆 𝒄𝒐𝒏𝒏𝒆𝒄𝒕 𝒘𝒊𝒕𝒉 𝒖𝒔 𝒕𝒐 𝒌𝒏𝒐𝒘 𝒎𝒐𝒓𝒆 𝒂𝒃𝒐𝒖𝒕 𝒕𝒉𝒆 𝒓𝒆𝒑𝒐𝒓𝒕 𝒂𝒏𝒅 𝒊𝒕𝒔 𝒄𝒖𝒔𝒕𝒐𝒎𝒊𝒛𝒂𝒕𝒊𝒐𝒏 𝒇𝒆𝒂𝒕𝒖𝒓𝒆. 𝑶𝒖𝒓 𝒕𝒆𝒂𝒎 𝒘𝒊𝒍𝒍 𝒆𝒏𝒔𝒖𝒓𝒆 𝒕𝒉𝒆 𝒓𝒆𝒑𝒐𝒓𝒕 𝒊𝒔 𝒘𝒆𝒍𝒍 𝒔𝒖𝒊𝒕𝒆𝒅 𝒕𝒐 𝒎𝒆𝒆𝒕 𝒚𝒐𝒖𝒓 𝒓𝒆𝒒𝒖𝒊𝒓𝒆𝒎𝒆𝒏𝒕𝒔.

Mr.Shah
Coherent Market Insights
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