How big is the Car Parking Market | Industry Forecast, Size & Trends

Q: How big is the Car Parking market?

The Car Parking Market was estimated at USD 93 billion in 2024 and is anticipated to reach USD 136 billion by 2031.

Q: What is driving the growth of this market?

Growth of market is driven by urbanization, digital parking solutions, and infrastructure investments.

Q: What are the key trends in the Car Parking industry?

Smart parking tech, app integration, automated garages, and EV-ready infrastructure are major trends.

Q: Who are the leading players in the car parking market?

Major players include Amano, SKIDATA, Flowbird, Bosch, and TIBA Parking.

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6W monitors the market across 60+ countries Globally, publishing an annual market outlook report that analyses trends, key drivers, Size, Volume, Revenue, opportunities, and market segments. This report offers comprehensive insights, helping businesses understand market dynamics and make informed decisions.

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Code: MTA5641

Publication Date: Jul 2025

What is the size of the Car Parking Market?

According to 6Wresearch internal database and industry insights, Global Car Parking Market was estimated atUSD 93 billion in 2024 and is anticipated to reachUSD 136 billion by 2031, growing at aCAGR of 9.3% during the forecast period 2025â€“2031.

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Due to urbanization, rising vehicle ownership, smart city initiatives, and demand for efficient parking management solutions, the market is predicted for the robust growth in the coming years.

Key Growth Drivers of the Car Parking Market

Increasing vehicle population across urban and suburban areas
Government investment in smart city infrastructure and urban mobility
Demand for real-time parking availability and automated payment solutions
Integration of IoT, AI, and cloud technologies in parking systems
Growth in commercial, residential, and airport parking developments

Car Parking Market Trends

Car parking market is expanding over the years with notable trends such as smart parking systems using sensors, AI, and mobile apps are on the rise. Also, the cloud-based management platforms and automated parking garages are gaining momentum. Further, the contactless payments and reservation systems are becoming standard. The demand for EV-compatible parking and green parking solutions is also increasing gradually.

Emerging Developments in the Car Parking Market

Car parking market is developing as the manufacturers and service providers are developing dynamic pricing systems and occupancy analytics. Also, the partnerships between municipalities and private players are driving the rollout of app-based parking platforms. Further, the robotic parking systems and solar-powered lots are also being tested in developed markets. These emerging developments are enhancing the presence of market.