Parking management indicates the free parking spots available at the parking site in real-time. The parking management system constitutes access control, security system, and statistical information. In the last few years, the adoption of the internet of things (IoT) in parking management and the development of smart city projects have become a prominent trend in the parking management market. Internet of things (IoT) enabled parking management provides Internet-connected meters, gates, and handhelds.
Parking Management Market in North America holds the largest share of the global market followed by Europe. the reason being the increased focus on innovations, research and development, and parking technology by advanced economies such as US and Canada.
