Crowdsourced Parking Solution Market was valued at USD 2.5 Billion in 2022 and is projected to reach USD 7.8 Billion by 2030, growing at a CAGR of 18.3% from 2024 to 2030.
The crowdsourced parking solution market has experienced significant growth between 2018 and 2022, driven by increasing urbanization and the proliferation of mobile technologies. With an estimated market value of over USD 3 billion in 2022, the industry capitalized on the expanding demand for efficient parking solutions. Crowdsourced parking, leveraging apps and platforms where users can find, book, and pay for parking spaces in real-time, has transformed how cities handle parking problems. With urban spaces becoming increasingly congested, traditional parking management systems struggled to meet growing demand, giving way to innovative, user-driven solutions.
Throughout 2018-2022, key players in the market, including startups and established tech giants, developed robust platforms that enhanced the user experience. This period also witnessed rapid advancements in mobile technology and IoT devices, which enabled seamless integration of crowdsourced parking solutions with real-time data collection and dynamic pricing models. These advancements made parking more accessible and affordable, as users could identify parking spaces on the go. The use of AI and machine learning to predict parking space availability also gained traction, leading to improved customer satisfaction and lower search times.
The demand for crowdsourced parking solutions is expected to continue rising through 2023-2033, driven by factors like the growing adoption of smart city initiatives, the rise in vehicle ownership, and more. Urban planners and local governments are increasingly turning to crowdsourced platforms as part of their strategy to manage limited parking resources. With sustainable mobility initiatives gaining importance, these solutions align with broader goals of reducing traffic congestion, lowering carbon emissions, and improving urban mobility. Furthermore, the increased penetration of electric vehicles (EVs) and autonomous vehicles (AVs) will likely have a significant impact on the demand for parking solutions, further shaping the future of the market.
The future market will also see the integration of enhanced technologies such as blockchain for secure payments and greater transparency in the parking transaction process. Additionally, the expansion of crowdsourced parking services into new regions, particularly in developing countries, is expected to broaden the market’s reach. Companies offering integrated parking management systems, which combine real-time information with dynamic pricing and payment systems, are projected to dominate the market.
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Amano Corporation
Cubic Corporation
Thales
Kapsch TrafficCom AG
Nortech Control Systems Limited
Siemens
Swarco AG
Fujica
Imtech
Xerox Corporation
SpotAngels
Hi-Park
Alto
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Crowdsourced Parking Solution Market
Commercial Use
Residential Use
Government Use
Others
Based on Types the Market is categorized into Below types that held the largest Crowdsourced Parking Solution market share In 2023.
On- street
Off-street
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Crowdsourced Parking Solution Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Crowdsourced Parking Solution Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Crowdsourced Parking Solution Market, By Type
6. Global Crowdsourced Parking Solution Market, By Application
7. Global Crowdsourced Parking Solution Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Crowdsourced Parking Solution Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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