The Parking Lots and Garages Market Overview 2025 report reveals that the market size has grown significantly over the past few years, with projections indicating further expansion.
What are the Historical Growth Trends in the Parking Lots and Garages Market?
The market size for the Parking Lots and Garages Global Market Report 2025 has experienced steady growth in recent years. From the year 2024 to 2025, the market size is expected to expand from $91.1 billion to $94.38 billion, with a Compound Annual Growth Rate (CAGR) of 3.6%.
What are the 2025 Market Projections: Forecasted Size & Growth Rate for the Parking Lots and Garages Industry?
The global market for parking lots and garages is projected to reach $109.22 billion in 2029, with a compound annual growth rate (CAGR) of 3.7%.
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What are the Key Growth Drivers Fueling the Parking Lots and Garages Market?
The key drivers in the parking lots and garages market are:
• Rising number of vehicles globally
• Increasing investment in parking lots and garages sector
• A trend towards mergers, acquisitions, partnerships and collaborations
• Emphasis on wireless smart parking sensors
Global Market Segmentation: Identifying Major Parking Lots and Garages Industry Segments
The parking lots and garages market covered in this report is segmented –
1) By Type: Airport And Rail, Hospitals, Hotel And Restaurants, Shopping Centers, Privately Owned, Others
2) By Site: On Street, Off Street
3) By Technology: Smart Parking Using IOT, Automation, Unautomated
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What are the Emerging Trends Shaping the Future of the Parking Lots and Garages Market?
The key trends in the parking lots and garages market are:
• The focus on mergers and acquisitions in the sector is a prominent emerging trend.
• The trend of business partnerships and collaborations is gaining traction.
• Emphasizing on wireless smart parking sensors is shaping the industry's future.
• The increasing number of vehicles worldwide and subsequent investments in parking lots and garages are integral trends.
Who Are the Top Competitors & Leading Players in the Parking Lots and Garages Market?
Major companies in the parking lots and garages market are:
• Impark Parking Corporation
• LAZ Parking Ltd. LLC
• Park24
• Lanier Parking
• Abm Industries Inc.
• Indigo Group SAS
• Ace Parking Management Inc.
• Tokyo Tatemono
• Sp Plus Corporation
• NIPPON PARKING DEVELOPMENT Co., Ltd.
• Yi Po International
• Wilson Parking
• Diamond Parking
• TPS Parking
• Park'N Fly
• Spot Hero
• The Toronto Parking Authority (TPA)
• EL GARAGE BELGRANO S.A
• ALSE PARKING S.A
• PARKING SAN TELMO S.A.
• Highway Department Garage
• Osage Township Garage
• COPEMSA
• Mawarid Company
• Earadat Transport
• Makani Parking
• Saudi Premier Parking
• HUB Parking Technology South Africa
• Kenya Airport Parking Service
• Junction Mall Parking Hall
Regional Dominance: Which Area Leads the Global Template Market?
North America was the largest region in the parking lots and garages market in 2024
