Parking Management Market to Cross USD 9000 Million by 2021


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The parking management solutions market is expected to exceed more than US$ 9000 million by 2021, a recent report from Market Research Engine can suggest.

The number of vehicles on the road is growing rapidly, which increases problems regarding the shortage of parking spaces, even for companies.

The parking management market is segmented on the lines of its software, system device, and service, parking site type, solutions and verticals. Under system device segmentation it contains automated gates, surveillance cameras and digital video recorders, radio frequency identification transponders, ultrasonic occupancy sensors, handheld ticket writers and parking management meters.

Furthermore, under solution segmentation it covers parking guidance and slot management, parking enforcement and slot management, valet parking management, parking reservation management, security and surveillance, parking and revenue management and access control.

Parking and revenue management is further segmented into pay by plate, smart card based and coin based. Access control segmentation covers LPR based automatic vehicle identification, ID management and biometric.

The research identifies the requirement for smooth traffic flow and falling connectivity and hardware costs as the major driving factors of the parking management market. Restraining factors worth mentioning include system inter-operability, as well as the cost sensitivity of parking space machinists.

Tensor parking management, industrial access control and security systems deliver superior peace of mind

Managing one’s vehicle fleet can prove to be challenging at times, especially if this vital operation is carried out using a separate system. The best solution to this task consists of setting up a system that integrates quite well with a company’s time and attendance solution, and this is exactly where Tensor can puts its extensive experience to work.

Our vehicle barriers provide an efficient and effective way of controlling access and movement to your site car park, allowing and denying access where appropriate at any time of the day, whilst also generating a minimum level of inconvenience to those who do have authorisation.

Designed to operate as stand-alone equipment or part of a security network, our range of barriers and turnstiles can be supplied with Smart Card technology, enabling users to create a fully integrated Time and Attendance and Access Control system.

Basically, by integrating car park access control into the Tensor time and attendance system, you will be able to easily assign specific vehicles to personnel members and check the overall usage of said vehicles (exit and re-entry times, etc.). In this way, you’ll be able to gain quite a good level of insight into your employee’s whereabouts and activity.

Furthermore, car park barriers are ideal for controlling your site’s car park and road entry points. Barriers provide an efficient and effective way of increasing security at your premises, and can double up as a way of monitoring the number of vehicles passing through the control point.

If you’d like to find out more information on the Tensor barriers and other car park access restriction solutions, just contact our dedicated product team of Book a Demo, our representatives will be more than happy to answer all of your questions and queries.

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