Credence Research published a new research report this December which focuses on parking management, an area of deep interest and involvement at ECI. Their report offers a glimpse into a projected 10% future market growth and expansion forecast stretching into 2026.
The report attributes this increase to a projected expansion in the number of cars and trucks on the road. This in turn will lead to further congestion of traffic and the need to manage and control that traffic. Parking access and revenue control system (PARCS) administration and management is one of the major areas included.
The US dominated the global parking management market in 2017 and will continue to lead in this area. Improvements in the integration of hardware and software management tools will lead a surge in automated parking solutions in future years. This falls into a number of ECI’s major areas of expertise.
The synopsis states that garage and parking lot owners prefer parking access and revenue control systems. These systems allow both access and egress of vehicles from parking while also managing revenue.
Vehicle counting and guidance systems are also attractive in two regards. These offer real time parking information which aid drivers find slots quickly and aid owners in better managing their properties and making users happier.
Credence research is an independent worldwide research organization with a US Sales Office is in San Jose, CA. Learn more about the report at https://www.credenceresearch.com/report/parking-management-market.
ECI will continue to offer the latest parking access and revenue control system technology and its entry control integration expertise to clients on the greater Chicago metropolitan area. Learn more at our Vehicle Access Control Systems, PARCS System Components and Vehicle Counting and Guidance Systems for Parking Solutions pages.
Call ECI at 847.949.0134 for a professional evaluation of your existing or new facilites, or for service and maintenance on existing equipment. Click below for direct contact information. Our trained staff is eager to be of service.