Off Street Parking Management System Market to Extent an Assessed Value of US$ 6,550 Mn by 2025
Persistence Market Research presents pertinent insights and a revised forecast of the global off-street parking management system market in its published report titled, “Off-Street Parking Management Systems Market: Global Industry Analysis 2012 – 2016 and Forecast 2017 – 2025”. As per the report, global off-street parking management system market was valued at nearly US$ 3,301 Mn in 2017, and is expected to register a CAGR of 8.9% from 2017 to 2025. The rise in the demand for flexible payment solutions and proliferation of internet-enabled solutions is driving the growth of this market. Rising concerns for safe and obstacle-free walking spaces for pedestrians is driving the demand for off-street parking facilities, which is expected to further increase over the next five to six years. This is expected to increase concerns of the public as well as private sectors towards the construction of parking garages and lots. Also, increasing car parc size has a direct impact on the utilizati...