U.S. PARKING SERVICES MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2026 - 2033)

U.S. Parking Services Market Size and Forecast – 2026-2033

Coherent Market Insights estimates that the U.S. parking services market is expected to reach USD 30 Bn in 2026 and will expand to USD 42 Bn by 2033, registering a CAGR of 4.9% between 2026 and 2033.

Key Takeaways of the U.S. Parking Services Market

• The privately owned parking facilities segment is expected to account for 57% of the S. parking services market share in 2026.
• The self-operated segment is estimated to capture 37% of the U.S. parking services market share in 2026.
• The parking management services segment is projected to hold 64% of the market share in 2026.

Currents Events and their Impact

Uncover macros and micros vetted on 75+ parameters: Get instant access to report

Segmental Insights

To learn more about this report, Download Free Sample

Why Does the Privately Owned Parking Facilities Segment Dominate the U.S. Parking Services Market in 2026?

The privately owned parking facilities segment is expected to account for 57% of the U.S. parking services market in 2026. From flexibility comes growth - matching markets swiftly, placing funds without delay. When shared spaces slow under review layers, private parcels advance quicker; choices emerge plainly, bringing system upgrades, pricing shifts, new services minus extended waits. Without fixed rules weighing heavily, actions mirror urban change: busier downtowns open paths, need grows where motion gathers.

For instance, on June 26, 2025, Sunrise Capital Investors LLC announced it has acquired the Bourse Parking Facility, a multi-level garage in Philadelphia's historic Old City district. This acquisition marks another step in Sunrise's broader strategy of expanding its portfolio of institutional-grade structured parking assets, reinforcing its reputation for consistent performance and long-term value creation.

(Source: sunrisecapitalinvestors.com)

Self-Operated Segment Dominates the U.S. Parking Services Market

The self-operated segment is expected to account for 37% of the U.S. parking services market in 2026. Primarily, expansion stems from the ability to retain hands-on oversight of daily functions while preserving uniform branding throughout locations. Because internal teams manage both ownership and operational duties, firms adjust service standards closely aligned with client needs. From a single point of control, operations gain speed - fewer talks with outside parties mean fewer holdups. When integrating parking into broader management systems, large property buyers and corporate bodies tend toward this setup. Efficiency appears not by design but as a result of streamlined authority.

Why is Parking Management Services the Most Preferred Service Type in the U.S. Parking Services Market?

The parking management services segment is projected to account for 64% of the U.S. parking services market in 2026. Growth stems from how these services provide full-cycle support, boosting efficiency while improving income flow and user satisfaction. Behind the attraction sits how routine duties are handled - parking monitored, locations maintained, rules enforced, user support offered, digital systems included - all linked under a single structure. As managing this complexity in-house burdens operations, reliance shifts toward outside experts by numerous groups.

U.S. Parking Services Market - Smart Parking Adoption & IoT Penetration Rates

Uncover macros and micros vetted on 75+ parameters: Get instant access to report

Market Players, Key Development, and Competitive Intelligence

To learn more about this report, Download Free Sample

Key Developments

• On November 18, 2025, ParkMobile announced that it is expanding its reservations availability to approximately 8,000 new locations nationwide in the U.S., making parking more predictable for drivers. The expansion is driven by Arrive’s strategic partnership with Flash, a pioneer in off-street parking technology, aimed to accelerate the digital transformation of the parking industry.
• On September 11, 2025, iPark announced the opening of a new parking facility at 724‑732 Avenue of the Americas in Manhattan to serve the Chelsea and Flatiron areas, including upgrades such as EV charging stations and mobile payment integration as part of broader portfolio expansion.

Top Strategies Followed by U.S. Parking Services Market Players

Uncover macros and micros vetted on 75+ parameters: Get instant access to report

Market Report Scope

U.S. Parking Services Market Report Coverage

U.S. Parking Services Market Dynamics

To learn more about this report, Download Free Sample

U.S. Parking Services Market Driver - Rising Urbanization and Increasing Vehicle Ownership

City growth across the U.S. brings more people into urban centers, each needing work and housing. As these communities grow, so does demand on existing parking systems. Limited land restricts expansion options. Traffic flow suffers when streets operate past design limits. Movement through key districts becomes slower over time. Instead of walking or using transit, many choose cars - ownership climbs alongside earnings and long-standing habits favoring individual mobility.

Despite efforts to manage flow, finding safe spots to leave vehicles becomes harder as buildings rise closer together. In response, authorities along with commercial operators begin updating how parking resources are monitored and accessed through digital tools and restructured layouts.

U.S. Parking Services Market Opportunity – Increasing Investments in EV Infrastructure

Growth in electric vehicle numbers across the U.S. pushes new spending on charging networks, opening notable potential within parking operations. Because more people choose electric models, lots must include modern charge points and this helps keep clients coming back. Modernizing existing locations brings them in line with current driver needs through strategic improvements. Where basic facilities begin using advanced systems, new service possibilities emerge naturally. With backing from emission-reduction initiatives by public agencies, rollout across regions happens more quickly than before.

Analyst Opinion (Expert Opinion)

• Even with unchanged vehicle counts and persistent urban congestion, shifts appear within U.S. parking practices. Beyond paved surfaces, digital systems increasingly guide space utilization. Where coin-fed meters once dominated, smartphone interfaces and detection hardware now play larger roles. Progress reveals itself through modernized curbside units, wireless transactions, real-time availability data, along with analytical platforms monitoring behavior over time. Business strategies shift - shaped by observations pulled from collected activity records.
• Success may shift beyond owning parking spots as city movement evolves. Ride-sharing grows while remote jobs change travel patterns, possibly reducing downtown needs. Flexible prices and seamless management begin to matter more than assets alone. Governments working together with businesses helps shape better outcomes. Digital features built into daily functions support these shifts. Even with stable environments, advancement favors technology use in the modern landscape. Adjusting to smart infrastructure becomes a quiet advantage. New habits in commuting reshape the market landscape.

Market Segmentation

• Asset Type Insights (Revenue, USD Billion, 2021 - 2033)
  • Privately Owned Parking Facilities
  • Publicly Owned Parking Facilities
  • Mixed Public–Private Ownership
• Operating Model Insights (Revenue, USD Billion, 2021 - 2033)
  • Self-Operated
  • Third-Party Parking Operators
  • Hybrid Management Models
• Service Type Insights (Revenue, USD Billion, 2021 - 2033)
  • Parking Management Services
  • Parking Payment & Access Technology Services
  • Valet Services
  • Specialty Services
• Parking Type Insights (Revenue, USD Billion, 2021 - 2033)
  • Off-street Parking
  • On-street Parking
• End User Insights (Revenue, USD Billion, 2021 - 2033)
  • Hotels and Resorts
  • Airports
  • Transport Transit
  • Hospitals
  • Shopping Malls and Retail Centers
  • Residential Complexes
  • Others
• Key Players Insights
  • SP Plus Corporation
  • LAZ Parking
  • ABM Industries Inc
  • Propark Mobility
  • ParkMobile LLC
  • SpotHero Inc
  • ParkWhiz Inc
  • Passport Labs Inc
  • Flowbird Group
  • ParkHub Inc.
  • Smarking Inc
  • Parkopedia Ltd.
  • FlashParking Inc
  • Reef Technology Inc
  • Impark

Sources

Primary Research Interviews

• Parking facility operators and management companies
• Smart parking technology providers and solution vendors
• Municipal parking authority officials and city planners
• Commercial real estate developers and property managers

Magazines

• Parking Today Magazine
• International Parking & Mobility Institute (IPMI) Magazine
• Smart Cities Connect Magazine
• Urban Land Magazine

Journals

• Transportation Research Journal
• Journal of Urban Planning and Development
• Smart Cities and Transportation Research Journal

Newspapers

• The Wall Street Journal
• USA Today
• Financial Times

Associations

• International Parking & Mobility Institute (IPMI)
• National Parking Association (NPA)
• American Planning Association (APA)
• Urban Land Institute (ULI)

 Public Domain Sources

• U.S. Department of Transportation (DOT) reports
• Federal Highway Administration (FHWA) publications
• Municipal government parking studies and reports
• Bureau of Transportation Statistics

Proprietary Elements

• CMI Data Analytics Tool
• Proprietary CMI Existing Repository of information for last 8 years