Global Market Study on Off-Street Parking Management System - Middle East and Africa to Witness Highest Growth by 2021

Global Market Study on Off-Street Parking Management System Middle East And Africa to Witness Highest Growth by 2021

Persistence Market Research

Global Off-Street Parking Management

System Market Will Reach US$ 5,726.7

Million by 2021

Persistence Market Research

1

Global Market Study on Off-Street Parking Management System Middle East And Africa to Witness Highest Growth by 2021

Persistence Market Research Released New Market Report “Global Market Study on Offstreet Parking Management System - Middle East & Africa to Witness Highest

Growth by 2021”, the global off-street parking management system market was valued at

USD 3,393.9 million in 2015 and is expected to expand at a CAGR of 9.1 % from 2015 to

2021, to reach USD 5,726.7 million by 2021

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Off-street parking is a parking facility, where the parking facility does not interact with the

traffic flow on the road. There is only a single point of interaction between the car park area

and road, known as access point. Off-street parking facility demand is due to supply

outweighs of onroad parking facility.

Globally, increasing parking spaces and inclination of consumers towards off-street parking

owing to better integration of parking resources and safety and automated parking solutions

are expected to drive demand for off-street parking management systems in the near future.

In addition, technological advancements such as use of mobile applications for parking

guidance systems and enhanced ticketing and payment solutions are some of the factors

expected to boost the demand for off-street parking management system market in the next

five to six years. However, high initial deployment cost is expected to restrain the growth of

the market. The global off-street parking management system market is anticipated to grow

from an estimated USD 3,393.9 million in 2015 to USD 5.726.7 million by...