Global Parking Management Market Analysis 2016 to 2021 1 | Page 4

Deployment and customization service market is expected to grow at the highest rate during
the forecast period
The market, by professional service, has been segmented into deployment & customization and
maintenance & support. The deployment and customization service segment is expected to grow
at the highest CAGR over the forecast period owing to the rapid adoption of parking management
solutions in both small and medium businesses and large enterprises, which require back support
and assistance for deployment, customization, and management of solutions.
APAC is expected to dominate the parking management market during the forecast period
North America is expected to hold the largest share of the parking management market in 2016
due to the technological advancements and early adoption of parking management solutions
across a large number of verticals in this region. The market in APAC is expected to grow at the
highest CAGR between 2016 and 2021. The primary driving forces for this growth are changing
work culture in organizations, government initiatives, and rapidly deployable cloud-based
solutions in various industries in the APAC countries, especially India, China, and Japan.

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