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Impact Analysis of Covid-19

The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

Parking Access Control equipment such as swing & sliding gates, garage doors, industrial doors, pay stations, validators and encoding stations, sensors, cameras, and display boards are used to permit access to parking lots and generate revenues. 

Several government bodies have started to install the parking access control solutions to decongest busy traffic facilities. For instance, in January 2020, Indian Railway Stations Development Corporation (IRSDC) installed access control systems to decongest traffic and keep the record of all the vehicles passing through railway station. IRSDC will charge parking fees to vehicles which will be parked for more than seven minutes. Thus, it will promote the drivers to pick-up and drop-off passengers within seven minutes.

Moreover, the parking access control solutions reduce the waiting time at the entrance of the parking facilities. According to Coherent Market Insights’ study, the parking access control solutions such as License Plate Recognition and Barrier Automation reduces the waiting time by about 24% compared to conventional parking facilities. This allows more vehicles to enter the parking facility in specific period of time and is expected to enhance overall productivity of the parking facility.

Global Parking Access Control Market - Impact of Coronavirus (Covid-19) Pandemic

COVID-19 pandemic had a significant impact on the parking access control market. Several countries across the globe such as India, Italy, the U.K., and others imposed nationwide lockdown in 2020. Many European countries such as Germany, Spain, and the U.K. also faced second wave of the COVID-19. For instance, Government of U.K. imposed nationwide lockdown from November 5, 2020 to December 2, 2020 to restrict the second wave of COVID-19. During these lockdowns, majorly all the transportation activities were restricted by the government authorities. This adversely affected the parking industry along with the parking access control market. 

North America is expected to hold dominant position in the global parking access control market during the forecast period.

Statistics:

North America held dominant position in the global parking access control market in 2019, accounting for 34.0% share in terms of value, followed by Europe and Asia Pacific.

Figure 1: Global Parking Access Control Market Share (%), By Region, 2019

Parking Access Control  | Coherent Market Insights

North America held dominant position in the global parking access control market in 2019 and is projected to retain its dominance throughout the forecast period, owing to rapid product developments done by the North America-based parking access control companies.

For instance, in December 2019, a Canada-based company LocoMobi World Inc. introduced CondoPark-Lite, a web-based vehicle access and parking management software system for visitors and tenants of residential and commercial buildings, along with gated communities. The new software system requires no additional cameras, hardware or control equipment.

Major players operating in the global parking access control market are Access, Security & Parking Systems, Inc., ACTi Corporation, Amano Corporation, Cass Parking, Conduent Inc., DESIGNA, Electro Automation, FAAC SPA Soc, HUB Parking Technology, Nortech Access Control Ltd., SKIDATA, SWARCO, TIBA PARKING SYSTEMS, VersionX Innovations Pvt. Ltd, and ZKTECO CO., LTD

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Parking Access Control Market Report Coverage

Report Coverage Details
Base Year: 2019 Market Size in 2019: US$ 4,208.9 Mn
Historical Data for: 2017 to 2019 Forecast Period: 2020 to 2027
Forecast Period 2020 to 2027 CAGR: 9.8% 2027 Value Projection: US$ 8,449.7 Mn
Geographies covered:
  • North America: U.S. and Canada
  • Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
  • Middle East and Africa: GCC Countries, South Africa, and Rest of Middle East and Africa
Segments covered:
  • By Product Type: Swing & Sliding Gates, Garage Doors, Industrial Doors, Pay Stations, Validators and Encoding Stations, Sensors, Cameras, Display Boards, Others.
  • By Solution: Gate Door and Barrier Automation, License Plate Recognition, Loop Detection System, Monitoring and Surveillance, Payment Solutions, Others.
  • By Technology: Magnetic or Barcode Ticket Technology, RFID Technology, Bluetooth, Wi-Fi, Others.
  • By Vertical: Airports, Government and Municipalities, Shopping Malls, Hospitals, Universities, Hotels, Stadium, Industries, Others
Companies covered:

Access, Security & Parking Systems, Inc., ACTi Corporation, Amano Corporation, Cass Parking, Conduent Inc., DESIGNA, Electro Automation, FAAC SPA Soc, HUB Parking Technology, Nortech Access Control Ltd. SKIDATA, SWARCO, TIBA PARKING SYSTEMS, VersionX Innovations Pvt. Ltd and ZKTECO CO., LTD

Growth Drivers:
  • Rapid adoption of parking access control solutions to decongest the traffic at government parking facilities 
  • Rapid increase in the urbanization 
Restraints & Challenges:
  • High cost of parking access control equipment

Among solution segment, the gate door and barrier automation sub-segment is expected to dominate the market during the forecast period owing to the increasing smart city projects.

Automatic barriers or boom barriers are essential components that provide safety solutions in airports, commercial buildings, railways, and others. They are installed to manage vehicles and minimize the possibility of vehicle intrusion. These systems are used in residential, industrial, commercial, and government buildings for security purposes. The increasing development of smart cities in emerging and developed economies is expected to drive the market growth during the forecast period (2020-2027). Several countries across the globe such as India, China, and the U.K are focusing on the development of smart city projects. For instance, in December 2018, according to Coherent Market Insights’ analysis, there were 1,000 smart city projects worldwide and China has about 500 smart city projects. Moreover, the increasing number of new construction buildings has increased the demand for automatic barriers in order to provide security. For instance, according to Invest India, a national investment promotion and facilitation agency of India, the construction industry in India is expected to exhibit a CAGR of 15.7% and reach US$ 738,500 million by 2022. Furthermore, gate door and automation systems are specially designed for commercial, industrial, and residential applications. An automatic gate door is used to control access in a secured area. Automatic gate doors are used at the entrance of the facility and used to control vehicular access on and off the site.

Figure 2: Global Parking Access Control Market Value (US$ Mn), 2017 - 2027

Parking Access Control  | Coherent Market Insights

The global parking access control market was valued at US$ 4,208.9 Mn in 2019 and is expected to reach US$ 8,449.7 Mn by 2027 at a CAGR of 9.8% between 2020 and 2027.

Parking access control systems mainly use Magnetic or Barcode Ticket Technology, RFID (Radio-frequency identification) Technology, Bluetooth, Wi-Fi technologies to authorize access to vehicles. Barcodes in the parking system provide inexpensive and accurate tickets with reliable read rates. Barcodes can be recognized instantaneously and result in seamless and faster exit. The barcode system is integrated with an inventory management system to keep the records of plate numbers, time in and time out of the vehicles, and the number of available parking spaces. Barcode technology requires less hardware and maintenance cost, and this technology is used in many parking management systems. For instance, in November 2018, RAKINDA Technology Co., Ltd., a China-based company which is a leader in the development of smart card hardware and software systems, introduced the LV4500L Bar code Scanner that is specially designed for parking lot. The main feature of this system is that it reduces labor fee and improves work efficiency

Market Dynamics

RFID readers, RFID labels, computers, barriers, and software are the main product types of RFID technology. This technology is used to monitor and control various reports and operations of the parking system. The main purpose of RFID technology for parking system is to reduce the workload and maintain record of the vehicles by enabling simpler solutions to the problems encountered in the parking lots. The rising number of smart city projects and urbanization increases the demand for RFID technology in the market. For instance, in 2015, the government of India allocated US$ 1,200 million for the development of smart cities in the country. As millions of vehicles are moving from one place to another across the world, it became important to manage parking in a more efficient manner. RFID technology can increase the performance of entry, tracking, and real-time management of permits, and overall security for parking technology.

Market Taxonomy

This report segments the global parking access control market on the basis of product type, solution, technology, vertical, and region. On the basis of product type, global parking access control market is segmented into swing & sliding gates, garage doors, industrial doors, pay stations, validators and encoding stations, sensors, cameras , display boards, and others. On the basis of solution, the global parking access control market is segmented into gate door and barrier automation, license plate recognition, loop detection system, monitoring and surveillance and payment solutions and others. On the basis of technology, the global parking access control market is segmented into magnetic or barcode ticket technology, RFID technology, Bluetooth, Wi-Fi and others. On the basis of vertical, the global parking access control market is segmented into airports, government and municipalities, shopping malls, hospitals, universities, hotels, stadium, industries, and others. On the basis of region, global parking access control market is segmented into North America, Latin America, Europe, Asia pacific, Middle East and Africa.

Key features of the study:

  • This report provides an in-depth analysis of the global parking access control market and provides market size (US$ Million) and compound annual growth rate (CAGR %) for the forecast period (2020-2027), considering 2019 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by leading players
  • It profiles leading players in the global parking access control market based on the following parameters – regulatory landscape, company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
  • Key companies covered in the global parking access control market are Access, Security & Parking Systems, Inc., ACTi Corporation, Amano Corporation, Cass Parking, Conduent Inc., DESIGNA, Electro Automation, FAAC SPA Soc, HUB Parking Technology, Nortech Access Control Ltd. SKIDATA, SWARCO, TIBA PARKING SYSTEMS, VersionX Innovations Pvt. Ltd, and ZKTECO CO., LTD
  • These key market players are focusing on collaboration strategy with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers
  • Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, technology up gradation, market expansion, and marketing tactics
  • The global parking access control market report caters to various stakeholders in this industry including investors, suppliers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the global parking access control market.

Detailed Segmentation:

  • Global Parking Access Control Market, By Product Type:
    • Swing & Sliding Gates
    • Garage Doors
    • Industrial Doors
    • Pay Stations
    • Validators and Encoding Stations
    • Sensors
    • Cameras
    • Display Boards
    • Others
  • Global Parking Access Control Market, By Solutions:
    • Gate Door and Barrier Automation
    • License Plate Recognition
    • Loop Detection System
    • Monitoring and Surveillance
    • Payment Solutions
    • Others
  • Global Parking Access Control Market, By Technology:
    • Magnetic or Barcode Ticket Technology
    • RFID Technology
    • Bluetooth
    • Wi-Fi
    • Others
  • Global Parking Access Control Market, By Vertical:
    • Airports
    • Government and Municipalities
    • Shopping Malls
    • Hospitals
    • Universities
    • Hotels
    • Stadium
    • Industries
    • Others
  • Global Parking Access Control Market, By Region:
    • North America
    • Latin America
    • Europe
    • Asia Pacific
    • Middle East and Africa
  • Company Profiles
    • Access, Security & Parking Systems, Inc.**
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Key highlights
    • ACTi Corporation
    • Amano Corporation
    • Cass Parking
    • Conduent Inc.
    • DESIGNA
    • Electro Automation
    • FAAC SPA Soc
    • HUB Parking Technology
    • Nortech Access Control Ltd.
    • SKIDATA
    • SWARCO
    • TIBA PARKING SYSTEMS
    • VersionX Innovations Pvt. Ltd
    • ZKTECO CO., LTD

**All the pointers will also be provided for the rest of the companies.

Browse all the market data tables and figures on ‘Global Parking Access Control Market - Forecast to 2027’

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Product Type
      • Market Snippet, By Solutions
      • Market Snippet, By Technology
      • Market Snippet, By Vertical
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
    • Regulatory Scenario
    • Solutions Trend
    • Merger and Acquisitions
    • New system Launch/Approvals
  4. Global Parking Access Control Market - Impact of COVID-19 on Market
    • Short Term
    • Long term
  5. Global Parking Access Control Market, By Product Type, 2017-2027 (US$ Million)
    • Introduction
      • Market Share Analysis, Y-o-Y Growth Analysis, 2017 and 2027 (%)
      • Segment trends
    • Swing & Sliding Gates
      • Introduction
      • Market Size and Forecast, Y-o-Y Growth Analysis, 2020–2027, (US$ Million)
    • Garage Doors
      • Introduction
      • Market Size and Forecast, Y-o-Y Growth Analysis (US$ Million)
    • Industrial Doors
      • Introduction
      • Market Size and Forecast, Y-o-Y Growth Analysis (US$ Million)
    • Validators and Encoding Stations
      • Introduction
      • Market Size and Forecast, Y-o-Y Growth Analysis (US$ Million)
    • Sensors
      • Introduction
      • Market Size and Forecast, Y-o-Y Growth Analysis (US$ Million)
    • Cameras
      • Introduction
      • Market Size and Forecast, Y-o-Y Growth Analysis (US$ Million)
    • Display Boards
      • Introduction
      • Market Size and Forecast, Y-o-Y Growth Analysis (US$ Million)
    • Others
      • Introduction
      • Market Size and Forecast, Y-o-Y Growth Analysis (US$ Million)
  6. Global Parking Access Control Market, By Solutions, 2017-2027 (US$ Million)
    • Introduction
      • Market Share Analysis, Y-o-Y Growth Analysis, 2017 and 2027 (%)
      • Segment trends
    • Gate Door and Barrier Automation
      • Introduction
      • Market Size and Forecast, Y-o-Y Growth Analysis (US$ Million)
    • License Plate Recognition
      • Introduction
      • Market Size and Forecast, Y-o-Y Growth Analysis (US$ Million)
    • Loop Detection System
      • Introduction
      • Market Size and Forecast, Y-o-Y Growth Analysis (US$ Million)
    • Monitoring and Surveillance
      • Introduction
      • Market Size and Forecast, Y-o-Y Growth Analysis (US$ Million)
    • Payment Solutions
      • Introduction
      • Market Size and Forecast, Y-o-Y Growth Analysis (US$ Million)
    • Others
      • Introduction
      • Market Size and Forecast, Y-o-Y Growth Analysis (US$ Million)
  7. Global Parking Access Control Market, By Technology, 2017-2027 (US$ Million)
    • Introduction
      • Market Share Analysis, Y-o-Y Growth Analysis, 2017 and 2027 (%)
      • Segment trends
    • Magnetic or Barcode Ticket Technology
      • Introduction
      • Market Size and Forecast, Y-o-Y Growth Analysis (US$ Million)
    • RFID Technology
      • Introduction
      • Market Size and Forecast, Y-o-Y Growth Analysis (US$ Million)
    • Bluetooth
      • Introduction
      • Market Size and Forecast, Y-o-Y Growth Analysis (US$ Million)
    • Wi-Fi
      • Introduction
      • Market Size and Forecast, Y-o-Y Growth Analysis (US$ Million)
    • Others
      • Introduction
      • Market Size and Forecast, Y-o-Y Growth Analysis (US$ Million)
  8. Global Parking Access Control Market, By Region, 2017-2027  (US$ Million)
    • Introduction
      • Market Share Analysis, Y-o-Y Growth Analysis, 2017 and 2027 (%)
    • North America
      • Regional Trends
      • Market Size and Forecast, By Product Type, 2020–2027(US$ Million)
      • Market Size and Forecast, By Solutions, 2020–2027 (US$ Million)
      • Market Size and Forecast, By Technology, 2020–2027(US$ Million)
      • Market Size and Forecast, By Vertical, 2020–2027(US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • U.S.
        • Canada
    • Europe
      • Regional Trends
      • Market Size and Forecast, By Product Type, 2020–2027(US$ Million)
      • Market Size and Forecast, By Solutions, 2020–2027 (US$ Million)
      • Market Size and Forecast, By Technology, 2020–2027(US$ Million)
      • Market Size and Forecast, By Vertical, 2020–2027(US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • U.K.
        • Germany
        • Italy
        • France
        • Russia
        • Rest of Europe
    • Asia Pacific
      • Regional Trends
      • Market Size and Forecast, By Product Type, 2020–2027(US$ Million)
      • Market Size and Forecast, By Solutions, 2020–2027 (US$ Million)
      • Market Size and Forecast, By Technology, 2020–2027(US$ Million)
      • Market Size and Forecast, By Vertical, 2020–2027(US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • China
        • India
        • Japan
        • ASEAN
        • Australia
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • Regional Trends
      • Market Size and Forecast, By Product Type, 2020–2027(US$ Million)
      • Market Size and Forecast, By Solutions, 2020–2027 (US$ Million)
      • Market Size and Forecast, By Technology, 2020–2027(US$ Million)
      • Market Size and Forecast, By Vertical, 2020–2027(US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • Brazil
        • Argentina
        • Mexico
        • Rest of Latin America
    • Middle East and Africa
      • Regional Trends
      • Market Size and Forecast, By Product Type, 2020–2027(US$ Million)
      • Market Size and Forecast, By Solutions, 2020–2027 (US$ Million)
      • Market Size and Forecast, By Technology, 2020–2027(US$ Million)
      • Market Size and Forecast, By Vertical, 2020–2027(US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • GCC Countries
        • South Africa
        • Rest of the Middle East and Africa
  9. Competitive Landscape
    • Company Profiles
      • Access, Security & Parking Systems, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • ACTi Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Amano Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Cass Parking
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Conduent Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • DESIGNA
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Electro Automation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • FAAC SPA Soc
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • HUB Parking Technology
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Nortech Access Control Ltd.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • SKIDATA
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • SWARCO
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • TIBA PARKING SYSTEMS
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • VersionX Innovations Pvt. Ltd
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • ZKTECO CO., LTD
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
  10. Section
    • References
    • Research Methodology
    • About us and Sales Contact

*Browse market data tables and figures on ‘Global Parking Access Controls Market -forecast to 2027’

FAQgrowicon

Frequently Asked Questions

The global parking access control market is expected to reach US$ 5,142.4 million by 2022.
The market is expected to witness CAGR of 9.8% during the forecast period (2020-2027).
Increasing smart city projects is expected to drive growth of the market during the forecast period.
The Gate Door and Barrier Automation segment held the largest market share among end-use industry, contributing 27.3% in terms of value in 2019.
North America region held the largest share in the global parking access control market in 2019, accounting for 34.0% share in terms of value.
Key players operating in the market are Access, Security & Parking Systems, Inc., ACTi Corporation, Amano Corporation, Cass Parking, Conduent Inc., DESIGNA, Electro Automation, FAAC SPA Soc, HUB Parking Technology, Nortech Access Control Ltd., SKIDATA, SWARCO, TIBA PARKING SYSTEMS, VersionX Innovations Pvt. Ltd, and ZKTECO CO., LTD
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