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.
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)
Transportation Facilities
Shopping Complex
Corporate Offices
Educational Institutes
Healthcare Facilities
Government And Municipal
Residential Buildings
Stadiums & Recreational Centers
Hospitality
Others
Table of Contents
Chapter 1. Methodology and Scope
1.1. Market Segmentation and Scope
1.2. Research Methodology
1.2.1. Information Procurement
1.3. Information or Data Analysis
1.4. Methodology
1.5. Research Scope and Assumptions
1.6. Market Formulation & Validation
1.7. List of Data Sources
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segment Outlook
2.3. Competitive Insights
Chapter 3. U.S. Parking Management Market Variables, Trends, & Scope
3.1. Market Lineage Outlook
3.2. Market Dynamics
3.2.1. Market Driver Analysis
3.2.2. Market Restraint Analysis
3.2.3. Industry Challenge
3.3. U.S. Parking Management Market Analysis Tools