US Parking Management Projected To Reach $9 Billion By 2028 REQUEST FOR SAMPLE REPORT Buy Now Request For sample Report × Report Title Name Email Designation Phone No Comapny Name Comapny URL Country -- Please Select Your Country -- Afganistan Africa Albania Algeria Andorra Angola Anguilla Antigua and Barbuda Argentina Armenia Aruba Asia Australasia Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bonaire Bosnia Herzegovina Botswana Brazil BRICS British Virgin Islands Brunei Darussalam Bulgaria Burkina Faso Cambodia Cameroon Canada Cape Verde Cayman Islands Central African Republic Central and South America Chad Chile China Colombia Comoros Congo Costa Rica Cote d'Ivoire Croatia Cuba Curacao Cyprus Czech Republic Denmark Djibouti Dominica Dominican Republic Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Europe European Union Falkland Islands Faroe Islands Fiji Finland France French Guiana French Polynesia Gabon Gambia Georgia Germany Ghana Gibraltar Global Great Britain Greece Greenland Grenada Guadeloupe Guam Guatemala Guerney & Alderney Guinea Guinea-Bissau Guyana Haiti Honduras Hong Kong Hungary Iceland India Indonesia Iran Iraq Ireland Isle of Man Israel Italy Ivory Coast Jamaica Japan Jersey Jordan Kazakhstan Kenya Kiribati Kosovo Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libyan Arab Jamahiriya Liechtenstein Lithuania Luxembourg Macao Macau Macedonia Madagascar Malawi Malaysia Maldives Mali Malta Man (Island of) Marshall Islands Martinique Mauritania Mauritius Mayotte Mexico Micronesia Middle East Minnesota Moldova Monaco Mongolia Monserrat Montenegro Morocco Morroco Mozambique Myanmar Namibia Nepal Netherlands New Caledonia New Zealand Nicaragua Niger Nigeria Niue North America North Korea Norway Oman Pakistan Palau Palestine Panama Papua New Guinea Paraguay Peru Philippines Poland Portugal Puerto Rico Qatar Reunion Romania Russia Rwanda Saint Helena Saint Lucia Saint Martin Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa Samoa (American) San Marino Sao Tome and Principe Saudi Arabia Scandinavia Senegal Serbia Seychelles Sierra Leone Singapore Sint Maarten Slovakia Slovenia Solomon (Islands) Somalia South Africa South Korea South Sudan Spain Sri Lanka Sudan Suriname Svalbard and Jan Mayen Islands Swaziland Sweden Switzerland Syria Taiwan Tajikistan Tanzania Thailand Timor Leste Togo Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Uganda Ukraine United Arab Emirates United Kingdom United States Uruguay Uzbekistan Vanuatu Vatican City Venezuela Vietnam Virgin Islands Western Sahara Yemen Zambia Zimbabwe Requirement Submit United States has seen a gradual increase in its population in the past few years. This has also led to large number of vehicles & increased amount of parking spaces & the need for adequate parking management strategies. There is certainly a need to have adequate parking spaces, since the number of vehicles is increasing in the United States, so that large number of vehicles can be accommodated in a given space. Parking management helps in overall utilization of available parking spaces, enhance traffic flow & reduce congestion. Story Outline Rising population & urbanization in United States have led to an increasing number of vehicles on road, resulting in higher demands for parking management services. Smart parking management systems like San Francisco’s SFpark program & various tech start-ups have been successful in reducing congestion & improving parking experiences. These systems use sensors & AI-enabled platforms to use parking spaces. Despite the overabundance of parking spots in the US, due to minimum parking requirements policies, the growing number of registered vehicles & revival of ride-sharing platforms like Uber, emphasize the need for developing parking solutions to meet the existing demands. According to Ken Research, the US Parking Management market is expected to reach $9 billion in 2028, due to increasing population & different kinds of vehicles increasing in number, which demand different kinds of parking services for every parker. 1.Rising Population & Urbanization: Implications for Parking Management Services Population across United States (2022) Click to learn more about no. of vehicles in US The population of United States has recorded a growth of 84.5 per cent between 1960 to 2022. In the recent past, the population figure went from 336 million in 2021 to 338 million in 2022, which is a 0.38% increase from 2021. Moreover around 83% of the population is staying in the larger cities & the trend of urbanization is growing at the rate of 0.6 percent. In an increasing trend of population growth & urbanization, there will be increased number of vehicles on roads, which demand more parking management services. 2.San Francisco’s Pioneers Success & Tech Start-ups Thrive SFPark mobile application, 2022 In the United States, San Francisco has been the pioneers of smart parking. They launched SFpark, a program that uses sensor to detect available parking spaces in real time. The information is then transmitted to a centralized data base, which can be accessed via mobile apps & electronic signs. This program has been successful in reducing congestion & improving the overall parking experience. Apart from this, United States has more than 100 tech start-ups which cater to smart parking management like Metropolis in Los Angeles, which is an AI-enabled platform which provides tech related solutions for operations management, payments solutions, marketing, customer centric applications, analytics etc. According to Ken Research, the US Parking Management market is expected to reach $9 billion in 2028, due to increasing population & different kinds of vehicles increasing in number, which demand different kinds of parking services for every parker. 3.Overabundance of Parking Spots in US: Implementing Smart Parking Management Systems No. of parking spots in Ohio, US (2023) Click Here To Request for a sample report Currently, the United States is facing a problem of too many parking spots. The country has around 2 billion parking spots. US has a minimum parking requirements policy wherein they are supposed to create parking spaces for every mall, office, stores, movie theatre, restaurants & every building. This policy requires parking spots for every building. In this scenario, parking management systems can enable drivers to reserve parking spaces in advance, especially for high-demand & special events. This ensures that parking is utilized efficiently & to reduce overcrowding. 4.Growing Demand for Parking Solutions as Vehicle Numbers Reach Record Highs Number of registered vehicles in US (2012-22) In September 2022, there were 290.8 million vehicles in US. It included cars, SUV, vans & other kinds of heavy-duty vehicles. Between 2021 & 2022, the number of registered vehicles has increased by 0.45% As the number of vehicles are gradually increasing in the country, there is a fleeting need for effective parking management solutions. 5.Revival of Ride Sharing Services post COVID: Impact on Parking Management Rideshare of US Citizens using Uber & Lyft (2023) Click here Request for custom report After experiencing a brief slump after COVID, US saw the ride-sharing services recover. Uber & Lyft who showed signs of recovery from May 2020. Uber’s sales exceeded their pre-pandemic levels & on year-to-year, they saw an 8 per cent increase in their rideshare in June 2023. As ride sharing services show an increasing trend among the US citizens, this will impact parking demands & require better management & allocation of parking spaces. Conclusion Rising population & urbanization in the US call for improved parking management services. San Francisco’s success with smart parking & tech start-ups’ innovation suggest better solutions. Implementing smart system is crucial for addressing the overabundance of parking spots & efficiently accommodate the growing demands, influenced by surge in vehicle numbers & revival of ride-sharing services. 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