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Parking Tolling System Market Synopsis

Parking Tolling System Market Size Was Valued at USD 5153.27 Million in 2023, and is Projected to Reach USD 10918.14 Million by 2032, Growing at a CAGR of 8.70% From 2024-2032.

A Parking Tolling System is an automated method created to handle parking charges effectively. It combines technologies such as sensors, cameras, and payment systems to determine fees based on time or usage. Frequently utilized in parking areas and toll booths, it improves convenience, alleviates congestion, and facilitates cashless payments.

  • Parking tolling involves collecting fees from vehicles in designated zones via parking authorities or private companies, typically utilizing tickets or technology to track parking time and fees. Drivers are required to acquire a ticket from attendants or automated kiosks. The drive for intelligent parking options corresponds with urban mobility needs, heightened digitalization, and the alleviation of traffic congestion. Intelligent systems employ sensors and IoT technology to decrease the time spent looking for parking, enhance traffic flow, and establish dynamic pricing. Smart solutions collect real-time occupancy information, whereas cashless systems such as FASTag improve convenience, enhance security, and decrease wait durations at toll booths.
  • Incorporating digital payment options into smart parking systems enhances the efficiency of parking facilities. Technologies such as IoT and computer vision improve mobility, generate revenue prospects, and aid in urban planning. In Smart Cities, Smart Toll Management enhances toll collection through the use of sensors, cameras, and analytics, streamlining operations. Interoperability allows drivers to utilize one account across different toll systems and nations. The pandemic has sped up the move towards contactless payments and digital wallets, as seen in India's NETC FASTag. Moreover, vehicle-integrated toll module technology eases toll navigation, and the smart parking sector is growing in developing areas driven by the need for contactless payment options and RFID implementation.
  • Introducing parking fees on highways aids in traffic regulation, finances infrastructure, and promotes sustainable transportation. Fees at service zones correspond with transportation objectives, while intelligent expressways enhance city efficiency. Urban parking management improved through technology and dynamic pricing, encounters difficulties. Airports and transit centres make effective use of parking income, while intelligent meters and directional systems improve user experiences. Hospitals implement pricing strategies focused on convenience and sustainability, with Western Europe and North America leading the market.

Parking Tolling System

Parking Tolling System Market Trend Analysis

Growing Demand for Smart Cities

  • Smart cities refer to urban areas that leverage technology and data to improve efficiency, sustainability, and residents' quality of life. An essential aspect of smart cities emphasizes enhancing transportation systems, including managing traffic flow and parking resources. Parking charges are a method in which drivers must pay to park their vehicles in specific locations, typically located in congested urban regions. This fee can vary based on elements such as location, time of day, and duration of parking. ​
  • Smart cities collect vast amounts of data from sensors, cameras, and multiple sources to examine traffic patterns and parking requirements. This data can be analyzed to identify areas with high parking demand and traffic congestion, allowing city planners to implement parking fee systems where they are most needed. Instead of fixed parking fees, smart cities could implement dynamic pricing that aligns with real-time demand. Advanced algorithms can adjust parking fees based on factors like the time of day, holidays, and traffic conditions. This adaptable pricing encourages efficient use of parking spaces and helps manage traffic congestion.
  • Smart cities aim to provide cohesive transportation options, including public transit, ridesharing, biking, and walking. Parking charges can be integrated into a wider mobility framework, motivating drivers to opt for different transportation methods when parking fees are high, which can reduce overall congestion and pollution. Smart parking solutions, such as mobile apps for finding parking spots or digital payment options, enhance user satisfaction and streamline the collection of parking fees. These technological innovations improve the acceptance of parking fee systems and encourage market growth.

  • The provided graph illustrates that the market has consistently expanded over the past five years. The rise of smart cities has concurrently led to a growing adoption of smart parking systems and parking fee systems because of space issues and other factors.
  • Smart parking toll systems use real-time data to monitor parking availability, improving space utilization in urban areas. This reduces the requirement for extensive parking lots, allowing transformation into green spaces or communal facilities, enhancing urban livability. Additionally, parking charges can generate revenue for local governments, allowing reinvestment into smart city initiatives, public transportation, infrastructure improvements, and different programs aimed at enhancing residents' quality of life.

Integration with Smart City Technologies

  • The large proliferation of vehicles on the roads, coupled with poor parking space management, has led to parking problems and increased traffic congestion in urban areas. Therefore, there is a need to develop an automated smart parking management system that helps drivers find a suitable space, reduces fuel consumption and air pollution. Smart city technologies can collect real-time data on parking availability, traffic flow and demand patterns, optimizing revenue and reducing congestion.Many of the smart parking systems (SPS) suggested in recent literature offer solutions for the creation of parking availability information systems, parking reservation solutions, detection of occupancy and management of parking areas, real-time navigation within the parking facility, and more. Nonetheless, only a small number of studies have focused on the real-time identification of improper parking and the automated collection of parking fees.
  • Utilizing smart city technologies like mobile applications and IoT sensors, parking tolling systems can provide effortless and convenient experiences for motorists. Capabilities such as mobile payments, booking systems, and direction to open parking spaces improve user satisfaction. As urban areas move towards electrification, combining parking fee systems with EV charging facilities becomes crucial. Intelligent parking systems can book parking spots equipped with charging stations for electric vehicles, promoting the use of EVs and fostering sustainable transportation.

  • The provided graph indicates that global technology investment in smart city projects has been steadily increasing over the past five years. As urban areas adopt intelligent parking solutions, the need for parking tolling systems grows. These systems encompass technologies like automated payment solutions, immediate parking availability displays, and electronic parking permits. The expansion of the parking tolling system market is closely associated with the growth of smart city projects focused on boosting parking efficiency, minimizing illegal parking, and enriching the overall urban experience.
  • Intelligent parking systems are integral components; they function within broader smart city frameworks. These systems collect data on parking patterns, occupancy rates, and user behaviors, which can be analyzed to improve parking facilities and inform urban planning strategies. The integration of parking fee systems with different smart city technologies enhances data-driven decision-making, leading to improved resource allocation and greater urban mobility.

Parking Tolling System Market Segment Analysis:

Parking Tolling System Market is Segmented on the basis of Type, Parking Site, Application, End-User, and Region

By Application, Parking segment is expected to dominate the market during the forecast period

  • Parking segment is expected to dominate the in the parking tolling system Market Parking fee systems are created to manage entry to parking zones and streamline payment collection. They efficiently oversee vehicle access and departure, guaranteeing equitable payment and enhancing space usage. Different systems use various approaches for management and payment. Typical methods consist of barrier gates, garage doors, and tiger teeth, which can be controlled manually, by buttons or keys, or automatically with sensor technology.
  • In gated parking facilities, payments are typically processed at unmanned kiosks using cash, credit/debit cards, or mobile applications. Certain toll systems allow payments via Point of Sale (POS) systems for smooth transactions. On the other hand, open parking areas permit free vehicle access, with expenses managed via kiosks, mobile applications, or direct payments to staff. Parking tolling systems are essential for regulating traffic, enforcing rules, and producing income for operators. They aim to improve convenience and efficiency for drivers and parking managers alike by offering various payment options.

By Type, Manual Toll Collection segment held the largest share of 55.28% in 2023

  • Manual Toll Collection segment held the largest share in parking tolling system market the Manual toll collection necessitates instant payment to operators using cash or cards as vehicles go through. In the same way, manual parking enforcement employs staff to oversee infractions, depending on human alertness rather than automated systems. Although this approach offers flexibility, it is susceptible to human mistakes, which could lead to overlooking swift violations. For example, hotel administration manages parking charges for visitors, whereas the needs of local residents come first. Shopping malls frequently provide complimentary short-term parking. While automation improves efficiency, it cannot substitute for human judgment in intricate situations.
  • Manual toll collection continues to thrive because it necessitates personnel in hotels and shopping centers. This traditional approach involves personnel overseeing transactions, assisting in traffic management and revenue generation. The presence of staff enhances customer satisfaction by engaging directly, responding to inquiries, and helping. Manual systems offer greater adaptability for particular situations, such as unique parking or payment issues. They also serve as backups for automated systems in the event of technical malfunctions.

Parking Tolling System Market Regional Insights:

 North America is Expected to Dominate the Market Over the Forecast period

  • North America is Anticipated to Lead the Market Throughout the Forecast Period. Passenger traffic at North American airports surged by 33.3% in 2022, significantly driven by a 117.2% rise in foreign travelers and a 25.8% increase in domestic traffic. This growth has heightened the demand for effective airport parking solutions, as major airports like Hartsfield-Jackson Atlanta International (ATL) and Toronto Pearson International (YYZ) work to accommodate the influx of passengers. With the U.S. parking industry generating around $30 billion annually, innovative parking tolling systems are critical for enhancing passenger experiences and optimizing airport operations. The technological advancements and evolving mobility trends are also fueling growth in this sector. With approximately 15,800 airports in the U.S., including key hubs like Los Angeles International and Chicago O’Hare, the need for advanced parking management solutions becomes increasingly important to support ongoing expansion in the aviation industry.
  • Juan F. Luis Airport is noted as the smallest in the US, while Denver International Airport holds the title of the largest, covering 52 square miles. John F. Kennedy International Airport, however, faces challenges with significant delays. The US market for parking tolling systems is expanding to meet the needs of millions of travelers, driven by the demand for smoother parking experiences. Americans lose an average of 17 hours annually searching for parking, costing around $345 per driver, with expenses much higher in cities like New York. To combat parking issues, technology is enhancing visibility and payment processes through sensor-equipped infrastructure and license-plate recognition systems, ensuring continued growth and efficiency in parking solutions.

Parking Tolling System Market Top Key Players:

  • 3M (United States)
  • Bharatiya Global Infomedia Ltd. (India)
  • Conduent, Inc. (United States)
  • Housten Systems Private Limited (India)
  • Kent Intelligent Transportation Systems (India)
  • Metro Infrasys Pvt. Ltd. (India)
  • Q-Free (Norway)
  • Shenzhen Carsafe Technology (China)
  • Sigma SPA (Italy)
  • Smartpower Automation (India)
  • SRTEC Automation (India)
  • Swarco (Austria)
  • Thales Group (France)
  • The Revenue Markets Inc. (United States)
  • Transcore (United States)
  • Verra Mobility (United States), and Other Active Players

Key Industry Developments in the Parking Tolling System Market:

  • In March 2024, Thales announced enhanced cyber resilience for organizations partnering with Sapor, Belgium. This collaboration combines Thales’ extensive experience in securing critical infrastructure and digital assets with Sapporo’s innovative attack path management platform. This combined offering enables organizations to continuously recognize weaknesses in their access architecture, prioritize them accordingly; simulate attack behavior; and take decisive action to mitigate risks before they become exploitable.
  • In August 2023, Q-Free installed adaptive signal control on Orlando I-Drive. Q-Free, a global leader in mobility solutions for smart city infrastructure, announced the successful deployment of MAXTIME Adaptive to improve traffic flow on Orlando's busy tourist corridor, International Drive. I-Drive is a busy road between Universal Studios, SeaWorld, the Orange County Convention Center, and other attractions, and has a lot of pedestrian and vehicle traffic.
  • In March 2023, 3M announced a partnership with Guardhat, an industry-leading unified security software company. Because connectivity is an important part of security programs, 3M is migrating its Security Inspection Management (SIM) software to Guardhat. The transition should be completed by mid-2023. In addition to the SIM transfer, the companies are evaluating future collaboration opportunities by combining 3M's experience in personal protective equipment with Guardhat's leading work-centered software platform to create combined safety capabilities aimed at keeping more frontline workers safe.
 

Global Parking Tolling System Market

Base Year:

2023

Forecast Period:

2024-2032

Historical Data:

2017 to 2023

Market Size in 2023:

USD 5153.27 Mn.

Forecast Period 2024-32 CAGR:

8.70%

Market Size in 2032:

USD 10918.14 Mn.

Segments Covered:

By Type

  • Manual Toll Collection
  • Electronic Toll Collection

By Parking Site

  • Off-Street
  • On-Street

By Application

  • Parking
  • Expressway

By End-User

  • Commercial Parking
  • Transportation Hubs
  • Hospitality
  • Healthcare Facilities
  • Residential Buildings

By Region

  • North America (U.S., Canada, Mexico)
  • Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
  • Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
  • Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New-Zealand, Rest of APAC)
  • Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)
  • South America (Brazil, Argentina, Rest of SA)

Key Market Drivers:

  • Rising Urbanization and Traffic Congestion

Key Market Restraints:

  • Ongoing Maintenance and Technical Support

Key Opportunities:

  • Rising Government Support for Smart City Initiatives

Companies Covered in the report:

  • 3M (United States), Bhartiya Global Infomedia Ltd. (India), Conduent, Inc. (United States), Housten Systems Private Limited (India), Kent Intelligent Transportation Systems (India), and Other Active Players.

Chapter 1: Introduction
 1.1 Scope and Coverage

Chapter 2:Executive Summary

Chapter 3: Market Landscape
 3.1 Market Dynamics
  3.1.1 Drivers
  3.1.2 Restraints
  3.1.3 Opportunities
  3.1.4 Challenges
 3.2 Market Trend Analysis
 3.3 PESTLE Analysis
 3.4 Porter's Five Forces Analysis
 3.5 Industry Value Chain Analysis
 3.6 Ecosystem
 3.7 Regulatory Landscape
 3.8 Price Trend Analysis
 3.9 Patent Analysis
 3.10 Technology Evolution
 3.11 Investment Pockets
 3.12 Import-Export Analysis

Chapter 4: Parking Tolling System Market by Type
 4.1 Parking Tolling System Market Snapshot and Growth Engine
 4.2 Parking Tolling System Market Overview
 4.3 Manual Toll Collection
  4.3.1 Introduction and Market Overview
  4.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.3.3 Key Market Trends, Growth Factors and Opportunities
  4.3.4 Manual Toll Collection: Geographic Segmentation Analysis
 4.4 Electronic Toll Collection
  4.4.1 Introduction and Market Overview
  4.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.4.3 Key Market Trends, Growth Factors and Opportunities
  4.4.4 Electronic Toll Collection: Geographic Segmentation Analysis

Chapter 5: Parking Tolling System Market by Parking Site
 5.1 Parking Tolling System Market Snapshot and Growth Engine
 5.2 Parking Tolling System Market Overview
 5.3 Off-Street
  5.3.1 Introduction and Market Overview
  5.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.3.3 Key Market Trends, Growth Factors and Opportunities
  5.3.4 Off-Street: Geographic Segmentation Analysis
 5.4 On-Street
  5.4.1 Introduction and Market Overview
  5.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.4.3 Key Market Trends, Growth Factors and Opportunities
  5.4.4 On-Street: Geographic Segmentation Analysis

Chapter 6: Parking Tolling System Market by Application
 6.1 Parking Tolling System Market Snapshot and Growth Engine
 6.2 Parking Tolling System Market Overview
 6.3 Parking
  6.3.1 Introduction and Market Overview
  6.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.3.3 Key Market Trends, Growth Factors and Opportunities
  6.3.4 Parking: Geographic Segmentation Analysis
 6.4 Expressway
  6.4.1 Introduction and Market Overview
  6.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.4.3 Key Market Trends, Growth Factors and Opportunities
  6.4.4 Expressway: Geographic Segmentation Analysis

Chapter 7: Parking Tolling System Market by End-User
 7.1 Parking Tolling System Market Snapshot and Growth Engine
 7.2 Parking Tolling System Market Overview
 7.3 Commercial Parking
  7.3.1 Introduction and Market Overview
  7.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  7.3.3 Key Market Trends, Growth Factors and Opportunities
  7.3.4 Commercial Parking: Geographic Segmentation Analysis
 7.4 Transportation Hubs
  7.4.1 Introduction and Market Overview
  7.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  7.4.3 Key Market Trends, Growth Factors and Opportunities
  7.4.4 Transportation Hubs: Geographic Segmentation Analysis
 7.5 Hospitality
  7.5.1 Introduction and Market Overview
  7.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  7.5.3 Key Market Trends, Growth Factors and Opportunities
  7.5.4 Hospitality: Geographic Segmentation Analysis
 7.6 Healthcare Facilities
  7.6.1 Introduction and Market Overview
  7.6.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  7.6.3 Key Market Trends, Growth Factors and Opportunities
  7.6.4 Healthcare Facilities: Geographic Segmentation Analysis
 7.7 Residential Buildings
  7.7.1 Introduction and Market Overview
  7.7.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  7.7.3 Key Market Trends, Growth Factors and Opportunities
  7.7.4 Residential Buildings: Geographic Segmentation Analysis

Chapter 8: Company Profiles and Competitive Analysis
 8.1 Competitive Landscape
  8.1.1 Competitive Benchmarking
  8.1.2 Parking Tolling System Market Share by Manufacturer (2023)
  8.1.3 Industry BCG Matrix
  8.1.4 Heat Map Analysis
  8.1.5 Mergers and Acquisitions
  
 8.2 3M (UNITED STATES)
  8.2.1 Company Overview
  8.2.2 Key Executives
  8.2.3 Company Snapshot
  8.2.4 Role of the Company in the Market
  8.2.5 Sustainability and Social Responsibility
  8.2.6 Operating Business Segments
  8.2.7 Product Portfolio
  8.2.8 Business Performance
  8.2.9 Key Strategic Moves and Recent Developments
  8.2.10 SWOT Analysis
 8.3 BHARATIYA GLOBAL INFOMEDIA LTD. (INDIA)
 8.4 CONDUENT INC (UNITED STATES)
 8.5 HOUSTEN SYSTEMS PRIVATE LIMITED (INDIA)
 8.6 KENT INTELLIGENT TRANSPORTATION SYSTEMS (INDIA)
 8.7 METRO INFRASYS PVT. LTD. (INDIA)
 8.8 Q-FREE (NORWAY)
 8.9 SHENZHEN CARSAFE TECHNOLOGY (CHINA)
 8.10 SIGMA SPA (ITALY)
 8.11 SMARTPOWER AUTOMATION (INDIA)
 8.12 SRTEC AUTOMATION (INDIA)
 8.13 SWARCO (AUSTRIA)
 8.14 THALES GROUP (FRANCE)
 8.15 THE REVENUE MARKETS INC. (UNITED STATES)
 8.16 TRANSCORE (UNITED STATES)
 8.17 VERRA MOBILITY (UNITED STATES)
 8.18 OTHER ACTIVE PLAYERS

Chapter 9: Global Parking Tolling System Market By Region
 9.1 Overview
9.2. North America Parking Tolling System Market
  9.2.1 Key Market Trends, Growth Factors and Opportunities
  9.2.2 Top Key Companies
  9.2.3 Historic and Forecasted Market Size by Segments
  9.2.4 Historic and Forecasted Market Size By Type
  9.2.4.1 Manual Toll Collection
  9.2.4.2 Electronic Toll Collection
  9.2.5 Historic and Forecasted Market Size By Parking Site
  9.2.5.1 Off-Street
  9.2.5.2 On-Street
  9.2.6 Historic and Forecasted Market Size By Application
  9.2.6.1 Parking
  9.2.6.2 Expressway
  9.2.7 Historic and Forecasted Market Size By End-User
  9.2.7.1 Commercial Parking
  9.2.7.2 Transportation Hubs
  9.2.7.3 Hospitality
  9.2.7.4 Healthcare Facilities
  9.2.7.5 Residential Buildings
  9.2.8 Historic and Forecast Market Size by Country
  9.2.8.1 U.S.
  9.2.8.2 Canada
  9.2.8.3 Mexico
9.3. Europe Parking Tolling System Market
  9.3.1 Key Market Trends, Growth Factors and Opportunities
  9.3.2 Top Key Companies
  9.3.3 Historic and Forecasted Market Size by Segments
  9.3.4 Historic and Forecasted Market Size By Type
  9.3.4.1 Manual Toll Collection
  9.3.4.2 Electronic Toll Collection
  9.3.5 Historic and Forecasted Market Size By Parking Site
  9.3.5.1 Off-Street
  9.3.5.2 On-Street
  9.3.6 Historic and Forecasted Market Size By Application
  9.3.6.1 Parking
  9.3.6.2 Expressway
  9.3.7 Historic and Forecasted Market Size By End-User
  9.3.7.1 Commercial Parking
  9.3.7.2 Transportation Hubs
  9.3.7.3 Hospitality
  9.3.7.4 Healthcare Facilities
  9.3.7.5 Residential Buildings
  9.3.8 Historic and Forecast Market Size by Country
  9.3.8.1 Germany
  9.3.8.2 U.K.
  9.3.8.3 France
  9.3.8.4 Italy
  9.3.8.5 Russia
  9.3.8.6 Spain
9.4. Asia-Pacific Parking Tolling System Market
  9.4.1 Key Market Trends, Growth Factors and Opportunities
  9.4.2 Top Key Companies
  9.4.3 Historic and Forecasted Market Size by Segments
  9.4.4 Historic and Forecasted Market Size By Type
  9.4.4.1 Manual Toll Collection
  9.4.4.2 Electronic Toll Collection
  9.4.5 Historic and Forecasted Market Size By Parking Site
  9.4.5.1 Off-Street
  9.4.5.2 On-Street
  9.4.6 Historic and Forecasted Market Size By Application
  9.4.6.1 Parking
  9.4.6.2 Expressway
  9.4.7 Historic and Forecasted Market Size By End-User
  9.4.7.1 Commercial Parking
  9.4.7.2 Transportation Hubs
  9.4.7.3 Hospitality
  9.4.7.4 Healthcare Facilities
  9.4.7.5 Residential Buildings
  9.4.8 Historic and Forecast Market Size by Country
  9.4.8.1 China
  9.4.8.2 India
  9.4.8.3 Japan
  9.4.8.4 Southeast Asia
9.5. South America Parking Tolling System Market
  9.5.1 Key Market Trends, Growth Factors and Opportunities
  9.5.2 Top Key Companies
  9.5.3 Historic and Forecasted Market Size by Segments
  9.5.4 Historic and Forecasted Market Size By Type
  9.5.4.1 Manual Toll Collection
  9.5.4.2 Electronic Toll Collection
  9.5.5 Historic and Forecasted Market Size By Parking Site
  9.5.5.1 Off-Street
  9.5.5.2 On-Street
  9.5.6 Historic and Forecasted Market Size By Application
  9.5.6.1 Parking
  9.5.6.2 Expressway
  9.5.7 Historic and Forecasted Market Size By End-User
  9.5.7.1 Commercial Parking
  9.5.7.2 Transportation Hubs
  9.5.7.3 Hospitality
  9.5.7.4 Healthcare Facilities
  9.5.7.5 Residential Buildings
  9.5.8 Historic and Forecast Market Size by Country
  9.5.8.1 Brazil
  9.5.8.2 Argentina
9.6. Middle East & Africa Parking Tolling System Market
  9.6.1 Key Market Trends, Growth Factors and Opportunities
  9.6.2 Top Key Companies
  9.6.3 Historic and Forecasted Market Size by Segments
  9.6.4 Historic and Forecasted Market Size By Type
  9.6.4.1 Manual Toll Collection
  9.6.4.2 Electronic Toll Collection
  9.6.5 Historic and Forecasted Market Size By Parking Site
  9.6.5.1 Off-Street
  9.6.5.2 On-Street
  9.6.6 Historic and Forecasted Market Size By Application
  9.6.6.1 Parking
  9.6.6.2 Expressway
  9.6.7 Historic and Forecasted Market Size By End-User
  9.6.7.1 Commercial Parking
  9.6.7.2 Transportation Hubs
  9.6.7.3 Hospitality
  9.6.7.4 Healthcare Facilities
  9.6.7.5 Residential Buildings
  9.6.8 Historic and Forecast Market Size by Country
  9.6.8.1 Saudi Arabia
  9.6.8.2 South Africa

Chapter 10 Analyst Viewpoint and Conclusion
10.1 Recommendations and Concluding Analysis
10.2 Potential Market Strategies

Chapter 11 Research Methodology
11.1 Research Process
11.2 Primary Research
11.3 Secondary Research
 

Global Parking Tolling System Market

Base Year:

2023

Forecast Period:

2024-2032

Historical Data:

2017 to 2023

Market Size in 2023:

USD 5153.27 Mn.

Forecast Period 2024-32 CAGR:

8.70%

Market Size in 2032:

USD 10918.14 Mn.

Segments Covered:

By Type

  • Manual Toll Collection
  • Electronic Toll Collection

By Parking Site

  • Off-Street
  • On-Street

By Application

  • Parking
  • Expressway

By End-User

  • Commercial Parking
  • Transportation Hubs
  • Hospitality
  • Healthcare Facilities
  • Residential Buildings

By Region

  • North America (U.S., Canada, Mexico)
  • Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
  • Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
  • Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New-Zealand, Rest of APAC)
  • Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)
  • South America (Brazil, Argentina, Rest of SA)

Key Market Drivers:

  • Rising Urbanization and Traffic Congestion

Key Market Restraints:

  • Ongoing Maintenance and Technical Support

Key Opportunities:

  • Rising Government Support for Smart City Initiatives

Companies Covered in the report:

  • 3M (United States), Bhartiya Global Infomedia Ltd. (India), Conduent, Inc. (United States), Housten Systems Private Limited (India), Kent Intelligent Transportation Systems (India), and Other Active Players.
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Frequently Asked Questions :

What would be the forecast period in the Parking Tolling System Market research report?

The forecast period in the Parking Tolling System Market research report is 2024-2032.

Who are the key players in the Parking Tolling System Market?

3M (United States), Bhartiya Global Infomedia Ltd. (India), Conduent, Inc. (United States), Housten Systems Private Limited (India), Kent Intelligent Transportation Systems (India), Metro Infrasys Pvt. Ltd. (India), Q-Free (Norway), Shenzhen Carsafe Technology (China),Sigma SPA (Italy), Smartpower Automation (India), SRTEC Automation (India), Swarco (Austria), Thales Group (France), The Revenue Markets Inc. (United States), Transcore (United States), Verra Mobility (United States), and Other Active Players.

What are the segments of the Parking Tolling System Market?

The Parking Tolling System Market is segmented into Type, Parking Site, Application, End-User, and Region. By Type, the market is categorized into Manual Toll Collection and Electronic Toll Collection. By Parking Site, the market is categorized into Off-Street and On-Street. By Application, the market is categorized into Parking and Expressway. By End-User, the market is categorized into Commercial Parking, Transportation Hubs, Hospitality, Healthcare Facilities, and Residential Buildings. By Region, it is analyzed across North America (U.S.; Canada; Mexico), Eastern Europe (Bulgaria; The Czech Republic; Hungary; Poland; Romania; Rest of Eastern Europe), Western Europe (Germany; UK; France; Netherlands; Italy; Russia; Spain; Rest of Western Europe), Asia-Pacific (China; India; Japan; Southeast Asia, etc.), South America (Brazil; Argentina, etc.), Middle East & Africa (Saudi Arabia; South Africa, etc.).

What is the Parking Tolling System Market?

A Parking Tolling System is an automated method created to handle parking charges effectively. It combines technologies such as sensors, cameras, and payment systems to determine fees based on time or usage. Frequently utilized in parking areas and toll booths, it improves convenience, alleviates congestion, and facilitates cashless payments.

How big is the Parking Tolling System Market?

Parking Tolling System Market Size Was Valued at USD 5153.27 Million in 2023 and is Projected to Reach USD 10918.14 Million by 2032, Growing at a CAGR of 8.70% From 2024-2032.