U.S. Parking Management Market Size, Share | Report, 2030 – Grand View Research

U.S. Parking Management Market Trends

The U.S. parking management market size was valued at USD 5.20 billion in 2024 and is projected to grow at a CAGR of 20.4% from 2025 to 2030. The increasing application of parking management to reduce traffic congestion and greenhouse gas emissions drives the growth of the market. According to the World Health Organization (WHO), the transportation sector is one of the leading sources of greenhouse gas emissions and, thus, one of the top contributors to global air pollution. According to the United States Environmental Protection Agency, road transportation is the largest source of Greenhouse Gas (GHG) emissions in the U.S., contributing 24% of total emissions in 2022. This includes emissions from cars and trucks.

In March 2024, the U.S. Environmental Protection Agency (EPA) issued new pollution standards for passenger vehicles for model years 2027-2032. These regulations aim to reduce fleetwide emissions from light and medium-duty vehicles by 52% by 2032 compared to 2026 levels. The initiative is expected to accelerate the adoption of Electric Vehicles (EVs), significantly cut carbon emissions, and improve air quality. The move builds on the momentum from the Inflation Reduction Act, which has boosted EV sales and manufacturing across the U.S.

Parking management helps reduce greenhouse gas emissions from vehicles by reducing the mobility and congestion of vehicles in search of parking spaces. In the U.S., an average driver spends around 17 hours a year looking for a parking space. This is one of the leading causes of traffic congestion in urban areas and leads to the wastage of scarce resources and time. With strategically designed parking systems, sensors, cameras, and RFIDs, drivers can get information related to available parking spots, the current location of parked vehicles, and the purchase and payment of digital parking tickets, among others. Parking systems also use real-time information offered by sensors to constantly update a centralized parking management system and showcase digital signages, directions, and a list of spaces available in a parking facility. This helps ensure that drivers get access to easy, timely, and safe parking facilities.

Moreover, the increasing adoption of connected and smart technologies in parking management fuels the growth of the market. Programs aimed at sustainable urban development and advances and innovations in mobility and connectivity aimed at improving efficiency, safety, and sustainability in urban areas are leading to the integration of advanced technologies in physical infrastructure across the world. Smart parking management, including parking guidance, parking space monitoring, and booking management, helps users secure a parking space before reaching their destination. This not only ensures a guaranteed parking space but also reduces the time and energy required to search for a parking spot. Similarly, contactless payments, integration with navigation apps, and license plate recognition solutions can help enhance the experience for commuters.

Open-source transport applications, including the parking management systems deployed in the U.S. in Boston and New York, are helping drivers gain real-time parking updates, including nearby parking facilities, navigation and routes, spot availability, and reservation and pre-booking services. These systems help build a low-cost digital infrastructure and transform urban mobility in a short period. Data analytics solutions have already been used in different countries to analyze the citizens’ travel needs and behavioral patterns to identify and manage traffic congestion.

Technological advancements, such as IoT, AI, and cloud computing, are transforming parking management systems by enabling real-time data analysis, predictive capabilities, and automation. IoT sensors can detect available spaces and send instant updates to drivers, reducing the time spent searching for parking. AI-powered analytics predict parking demand, helping optimize space utilization. Cloud-based platforms offer centralized control, allowing cities and businesses to manage parking operations remotely. These technologies improve efficiency, enhance user experience, and reduce costs, attracting both businesses and municipalities to adopt smart parking solutions. Smart solutions for transport infrastructure are emerging as the primary means for fostering urban mobility and are expected to drive the parking management market over the forecast period.

Component Insights

The hardware segment accounted for the largest market share of 44.3% in 2024. The rising demand for automated systems in smart city initiatives is pushing municipalities to invest in modern parking infrastructure. Cities are integrating hardware with cloud-based management platforms and data analytics to offer real-time updates on parking availability, improving overall urban mobility. In addition, increasing vehicle ownership and urbanization across the U.S. have heightened the need for better traffic management, encouraging public and private sectors to invest in more efficient parking systems.

The services segment is expected to grow at a significant CAGR during the forecast period. The increased focus on sustainability in parking management reflects a broader shift toward greener urban infrastructure and environmentally responsible practices. As cities increasingly face rising pollution, traffic congestion, and the impacts of climate change, parking facilities are being viewed as necessary infrastructure and opportunities to contribute to environmental goals. Service providers in the parking management industry increasingly offer eco-friendly solutions that help operators reduce their carbon footprint, minimize energy consumption, and support urban sustainability initiatives.

Parking Type Insights

The off-street segment held the largest market share in 2024. The rise of e-commerce drives the demand for retail and logistics spaces. As online shopping flourishes, many retailers are adapting by offering curbside pickup and delivery options, which require adequate off-street parking. This has prompted businesses to invest in dedicated parking spaces for customers and delivery drivers, ultimately transforming the design and utility of off-street facilities. In addition, cities are recognizing the importance of off-street parking in supporting local economies, as convenient access to retail and dining options can significantly enhance customer experience.

The on-street segment is expected to register a significant CAGR during the forecast period. The growing importance of public transportation systems is influencing on-street parking dynamics. As cities invest in improving public transit, they are encouraging a shift from private vehicle use to more sustainable modes of transport. On-street parking management strategies that complement public transit, such as park-and-ride facilities or incentives for commuters who use public transportation, are becoming more common. These approaches help reduce congestion and promote a balanced transportation ecosystem where parking options support rather than hinder public transit accessibility.

Application Insights

The transportation facilities segment dominated the market in 2024. The steady rise in domestic and international travel significantly influences the growth drivers for the transportation facilities segment, especially as air travel rebounds post-pandemic. As airports and other transit facilities face increased foot traffic, the demand for efficient parking management solutions grows. Moreover, the modernization of transportation infrastructure across the U.S., where upgrades to transit hubs included enhancements to parking facilities. This includes the incorporation of intelligent parking systems that help reduce congestion, improve safety, and offer a better experience for travelers.

The healthcare facilities segment is projected to grow at a significant CAGR over the forecast period. As healthcare infrastructure grows to accommodate aging populations and increasing patient loads, parking demand is also rising. Hospitals and large medical centers are often situated in urban or densely populated areas where parking space is limited, necessitating the use of advanced parking solutions that maximize available space and streamline operations. These systems improve efficiency by managing high turnover rates, particularly in facilities with emergency departments that require fast, reliable access to parking.

Key U.S. Parking Management Company Insights

Some of the key companies in the U.S. parking management market include LAZ Parking, ABM INDUSTRIES INCORPORATED, SP Plus Corporation, Propark Mobility, and others. Organizations are focusing on increasing customer base to gain a competitive edge in the industry. Therefore, key players are taking several strategic initiatives, such as mergers and acquisitions and partnerships with other major companies. 

• ABM provides integrated facility solutions, offering services such as janitorial, electrical, HVAC & mechanical, parking & transportation, and energy solutions to various industries, including commercial, manufacturing, aviation, healthcare, and education. The company offers various services under its parking and transportation services, including shuttle bus, valet service, parking customers, and many others.

• LAZ Parking is a provider of parking management services, with operations spanning numerous cities across the U.S. The company offers comprehensive parking solutions for diverse sectors, including commercial office buildings, retail centers, hotels, airports, healthcare facilities, and event venues. LAZ Parking’s services include valet parking, self-parking, shuttle services, and consulting, among other specialized offerings.

Recent Developments

• In June 2024, ABM INDUSTRIES INCORPORATED partnered with Rezcomm to enhance the ABM Vantage Smart Parking Platform and facilitate a more comprehensive and user-friendly solution for parking management. The collaboration focused on customizing and scaling the platform to meet clients’ diverse needs.

• In July 2023, SP Plus Corporation launched its AeroParker online booking reservation system at William P. Hobby Airport (HOU) and George Bush Intercontinental Airport (IAH) in Houston, Texas. The advanced system was designed to allow travelers to pre-book parking, enhancing convenience and ensuring guaranteed parking availability.

U.S. Parking Management Market Report Scope

U.S. Parking Management Market Report Segmentation

This report forecasts revenue growth at the country level and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the U.S. parking management market report based on component, parking type, and application.

• Component Outlook (Revenue, USD Million, 2018 – 2030)

  • Hardware

    • Pucks (Wireless Sensors)

    • Cameras & LPRs

    • Smart Meters

    • Smart Signage

    • Smart Parking Gates

    • Others

  • Solution

    • License Plate Recognition

    • Security & Surveillance

    • Real-time Pricing Management

    • Parking Reservation

    • Payment Collection

    • People Counting & Space Management

    • Others

  • Service

    • Valet Parking Services

    • Pick And Drop Services

    • Carpooling

    • Others

• Parking Type Outlook (Revenue, USD Million, 2018 – 2030)

  • On-street

  • Off-street

    • Garage Parking

    • Lot Parking

• Application Outlook (Revenue, USD Million, 2018 – 2030)