Australia Parking Management Market Outlook to 2028
Driven by Advancements in Smart Parking Solutions and Urbanization and Increased Vehicle Ownership
August 2023
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About the Report
About the Report
Market Overview
The Parking Management market has been experiencing robust growth, driven by a convergence of factors. Increasing urbanization and population growth result in higher demand for parking spaces in both residential and commercial areas. Additionally, the growing number of vehicles, coupled with infrastructure investments in parking facilities and smart parking solutions, contributes to the increased need for efficient parking management services.
Changing demographics, such as the rise of urban dwellers and the need for innovative parking solutions in densely populated areas, impact the demand for parking management services. Government policies and incentives, such as parking regulations, parking permits, and smart city initiatives, also play a crucial role in shaping the growth of the parking management market.
Australia parking management industry is catered by the domestic and international players. Ace Parking, Wohr Parking Systems, Hercules Carparking Systems, Secure Parking, TPS Traffic and Parking Systems are the top players of the Australia Parking Management industry.
Australia Parking Management Market Analysis
- Moreover, technology enhancement in connectivity and communication is also expected to make it a more affordable and sought-after solution. Mobile-based App support for parking solutions is expected to bring new growth opportunities to the market.
- Further, technologies such as AI, machine learning, speed monitoring, image recognition, and tracking capabilities are expected to improve and enhance the user's experience in the market. For instance, in May 2021, L&T Technology Services developed a smart parking solution collaborating with the Intel Corporation. The solution comprises four essential parts and uses AI's effective capabilities. They are a digital camera, a mobile application for the end-user interface, a digital signage module for safe and secure access, and an operator portal that contains user information. The AWS cloud platform connects all of these parts, making it readily available and reachable.
Key Trends by Market Segment:
By Deployment Type: Based on deployment type, the on-premise segment is estimated to command the largest share of the overall parking management market in 2020. This is primarily attributed to the speed of access and easier data management process by the on-premise servers. In addition, the data stored by on premise servers are highly secured and can be accessed by the parking official only inside the premise.
By Parking Site: Based on parking site, the off-street parking segment is estimated to command the largest share of the overall parking management market in 2020. This is primarily attributed to the rising requirement of parking spaces in CBDs and efforts to reduce congestion levels on street, making parking safe and convenient for both driver and vehicle.
Competitive Landscape:
The parking management market in Australia comprises international and local players, such as Ace Parking, Wohr Parking Systems, Hercules Carparking Systems, Secure Parking and TPS Traffic and Parking Systems. Growth is driven by the expanding real estate market, adoption of new technologies, sustainability efforts, and integration with Mobility as a Service (MaaS) solutions. Smart parking tech, EV charging, and seamless mobility options play vital roles in meeting evolving customer needs.
Recent Developments:
- The parking market in Australia has likely seen further adoption of contactless payment methods and mobile apps. Many parking facilities now offer cashless payment options, making it more convenient for drivers to pay for parking using their smartphones or credit cards.
- Smart Parking Technologies: The implementation of smart parking technologies, such as parking sensors, real-time data analytics, and mobile apps, has likely continued to expand. These technologies help drivers find available parking spaces easily and allow parking operators to optimize parking space utilization.
Future Outlook:
- The future of parking management in Australia will see a significant integration of smart parking technologies. This includes the widespread adoption of IoT (Internet of Things) devices such as sensors and cameras to monitor parking spaces in real-time. These technologies will enable drivers to easily locate available parking spots through mobile apps or navigation systems, reducing the time spent searching for parking and minimizing traffic congestion.
- With a growing focus on sustainability and reducing carbon footprints, the future of parking management in Australia will witness an increased emphasis on eco-friendly initiatives. This may include the implementation of electric vehicle (EV) charging stations in parking lots, incentivizing electric vehicle usage, and integrating renewable energy sources to power parking infrastructure.
- As urban centers become denser and car ownership patterns shift, parking management will evolve to align with Mobility as a Service (MaaS) solutions. MaaS aims to provide seamless, integrated transportation options, combining public transit, ridesharing, bike-sharing, and car rentals. Parking management systems will work in tandem with MaaS platforms to provide dynamic parking information based on changing mobility needs and preferences.
Scope Of The Report
Scope of the Report
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Australia Parking Management Market Segmentation |
|
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By Deployment Type |
On-premise Cloud-based |
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By Parking Site |
Off-street On-street |
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By Region |
North East West South |
Products
Products
Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report:
- Shopping Mall and Retail Center Owners
- Transportation and Transit Authorities
- Event and Venue Managers
- Hospitality Industry
- Corporate Offices and Business Parks
- Industry Associations
- Consulting Agencies
- Government Bodies & Regulating Authorities
Time Period Captured in the Report:
- Historical Period: 2017-2022
- Base Year: 2022
- Forecast Period: 2022-2028
Companies
Major Players Mentioned in the Report:
- Ace Parking
- WOHR Parking Systems
- Hercules Carparking Systems
- Secure Parking
- TPS Traffic and Parking Systems
- First Parking
- Enacon Parking
- Wilson Parking
- CPP His Majesty's
Table of Contents
Table of Contents
1. Executive Summary
2. Australia Parking Management Market Overview
2.1 Taxonomy of Australia Parking Management Market
2.2 Industry Value Chain
2.3 Ecosystem
2.4 Government Regulations/Initiatives for Australia Parking Management Market
2.5 Growth Drivers of Australia Parking Management Market
2.6 Issues and Challenges of Australia Parking Management Market
2.7 Impact of COVID-19 on Australia Parking Management Market
2.8 SWOT Analysis
3. Australia Parking Management Market Size, 2017 – 2022
4. Australia Parking Management Market Segmentation
4.1 By Deployment Type, 2017 – 2022
4.2 By Parking Site, 2017 – 2022
5.3 By Region, 2017 - 2022
5. Competitive Landscape
5.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
5.2 Strategies Adopted by Leading Players
5.3 Company Profiles – (Top 5 - 7 Major Players)
5.3.1 Ace Parking
5.3.2 WOHR Parking Systems.
5.3.3 Hercules Carparking Systems
5.3.4 Secure Parking.
5.3.5 TPS Traffic and Parking Systems
6. Australia Parking Management Future Market Size, 2022 – 2028
7. Australia Parking Management Future Market Segmentation
7.1 By Deployment Type, 2022 - 2028
7.2 By Parking Site, 2022 - 2028
7.3 By Region, 2022 - 2028
8. Analyst Recommendations
9. Research Methodology
10. Disclaimer
11. Contact Us
Research Methodology
Research Methodology
Steop 1: Identifying Key Variables:
Ecosystem creation for all the major entities and referring to multiple secondary and proprietary databases to perform desk research around market to collate industry level information.
Steop 2: Market Building:
Collating statistics on parking services over the years, penetration of marketplaces and service providers ratio to compute revenue generated for Australia’s parking management. We will also review service quality statistics to understand revenue generated which can ensure accuracy behind the data points shared.
Steop 3: Validating and Finalizing:
Building market hypothesis and conducting CATIs with industry experts belonging to different companies to validate statistics and seek operational and financial information from company representatives.
Steop 4: Research output:
Our team has engaged with various parking management firms to gather insights into their property portfolios, service data, consumer preferences, and other pertinent factors. This invaluable information has played a crucial role in validating the statistics derived from our market analysis. By comprehending the distinct nature of different property segments and consumer behavior, we have ensured the accuracy and dependability of our parking management market data and research findings.
Frequently Asked Questions
Frequently Asked Questions
01 How big is Australia Parking Services industry ?
The market size of Australia's Parking Services industry was around $1.5bn in 2022.
02 Has the Parking Services industry in Australia grown or declined over the past 5 years?
The market size of the Parking Services industry in Australia has declined 2% per year on average between 2017 and 2022.
03 What factors affect growth of the Parking Services industry in Australia?
The primary factors affecting growth of industry are Urbanization and Population Growth, Technological Advancements, Real Estate Development to name a few.
04 What are the opportunities for new market entrants in the Parking Management market?
The rise of emerging technologies has catalyzed the transformation of urban centers into smart cities. These cities seamlessly blend housing, traB7nsportation, and economic activities by harnessing cutting-edge information and communications technologies.
05 Who are the key players operating in Australia Parking Management market?
Secure Parking, Wilson Group, Care Park, Parking Investments and Development Pty Ltd etc are few companies in Australia Parking Management market.
06 What are the technological trends for parking?
Parking management platforms are a parking industry trend that empowers parking operators to achieve greater efficiency and control over their facilities. These platforms deploy smart parking technology to compile and analyze data in real time on parking availability, traffic flow and other relevant items.
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