India Parking Systems Market to Soar at 3.6% CAGR Through 2030 | Trends, Drivers, and Forecast Analysis

MarkNtel Advisors recently published a detailed industry analysis of the India Parking Systems Market. The report covers growth trends, geographical marketing strategies, challenges, opportunities, and drivers influencing the market.

India Parking Systems Market, Share, and Trends Analysis Report – Industry Overview and Forecast to 2030

The India Parking Systems Market size was valued at around USD 655.21 million in 2023 and is projected to reach around USD 832.05 million by 2030. Along with this, the market is estimated to grow at a CAGR of around 3.6% during the forecast period, i.e., 2025-30.

Key Findings in India Parking Systems Market:

• Historical Analysis: 2020–2023
• Base Year: 2024
• Forecast Period: 2025–2030

Leading Market Players- Park+, RR Parkon, KLAUS Multiparking, i-stron Car Parking Systems, Parklayer Private Limited, Wohr Parking System Pvt. Ltd., Get My Parking, Secure Parking, Honesty Automation Private Limited, Expert Parking Systems, Others

Key Highlights of the Report

• Market Dimensions & Projections
• Pricing Evaluation,
• Recent Strategic Moves by Companies,
• Primary Stakeholders,
• Analysis of Import and Export Trends,
• Competitive Landscape Assessment,
• Emerging Opportunities,
• Market Trends and Indicators

What are the major Driver the India Parking Systems industry?

Population Growth & Rapid Urbanization Driving Market Growth – The growing population and rapid urbanization are the key elements thrusting the growth of the Parking Systems Market in India. India's cities are developing and attracting more individuals, which has augmented the demand for well-planned and powerful parking solutions. Increasing urban populations results in a higher number of vehicles, which exacerbates traffic congestion and makes it difficult for individuals to discover appropriate parking spots. As a result, there may be an increasing demand for parking systems in the country which requires the development and deployment of state-of-the-art technologies in the parking systems to successfully make use of the limited available parking spaces.

Modern parking systems are essential for maximizing parking space usage, lowering traffic, and improving the entire urban mobility experience. They are outfitted with technology like smart sensors, automated ticketing, and mobile payment alternatives. The Indian government's emphasis on smart city projects is propelling the adoption of innovative parking solutions even faster, with growing urbanization and increasing populations emerging as key factors driving the market revenue growth.

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What segments define the India Parking Systems Market from 2025 to 2030? How do these segments contribute to market dynamics and growth?

By Type

• Shuttle Parking System- Market Size & Forecast 2020-2030, USD Million
• Puzzle Parking System- Market Size & Forecast 2020-2030, USD Million
• Rotary Parking System- Market Size & Forecast 2020-2030, USD Million
• Stacker Parking System- Market Size & Forecast 2020-2030, USD Million
• Automated Guided Vehicle Parking System- Market Size & Forecast 2020-2030, USD Million
• Rail Guided Parking System- Market Size & Forecast 2020-2030, USD Million
• Crane Parking System- Market Size & Forecast 2020-2030, USD Million
• Silo Parking System- Market Size & Forecast 2020-2030, USD Million
• Tower Parking System- Market Size & Forecast 2020-2030, USD Million
• Others- Market Size & Forecast 2020-2030, USD Million

According to report, In the India Parking Systems Market, the puzzle parking system segment captured the major market share.

By Parking Type

• On-Street Parking- Market Size & Forecast 2020-2030, USD Million
• Off-Street Parking- Market Size & Forecast 2020-2030, USD Million

By Component

• Hardware- Market Size & Forecast 2020-2030, USD Million
• Camera- Market Size & Forecast 2020-2030, USD Million
• Motors- Market Size & Forecast 2020-2030, USD Million
• Raw Steel- Market Size & Forecast 2020-2030, USD Million
• Sensors- Market Size & Forecast 2020-2030, USD Million
• Electrical Panels- Market Size & Forecast 2020-2030, USD Million
• Electrical Boxes- Market Size & Forecast 2020-2030, USD Million
• Wireless Radios- Market Size & Forecast 2020-2030, USD Million
• Fire Alarms/ Audio Alarms- Market Size & Forecast 2020-2030, USD Million
• LCD Display- Market Size & Forecast 2020-2030, USD Million
• Others- Market Size & Forecast 2020-2030, USD Million
• Software
• Parking Guidance System- Market Size & Forecast 2020-2030, USD Million
• Analytics Solutions- Market Size & Forecast 2020-2030, USD Million

By System

• Fully Automated System- Market Size & Forecast 2020-2030, USD Million
• Semi-Automated System- Market Size & Forecast 2020-2030, USD Million

According to report, The parking systems market of India is expected to be led by the semi-automated system segment. 

By End Users

• Residential- Market Size & Forecast 2020-2030, USD Million
• Commercial- Market Size & Forecast 2020-2030, USD Million
• Shopping Malls- Market Size & Forecast 2020-2030, USD Million
• Office Buildings- Market Size & Forecast 2020-2030, USD Million
• Hospitals- Market Size & Forecast 2020-2030, USD Million
• Public Car Parks- Market Size & Forecast 2020-2030, USD Million
• Others- Market Size & Forecast 2020-2030, USD Million

According to report, The commercial segment held the largest share of the India Parking Systems Market in past years.

Explore the Complete India Parking Systems Market Analysis Report – https://www.marknteladvisors.com/research-library/india-parking-systems-market.html

Geographical Analysis: India Parking Systems Market

By Region

• North
• South
• East
• West
• North East

India Parking Systems Market Recent Development:

• 2024: Park+, the car-services platform funded by PeakXV, is putting more of an emphasis on its FASTag distribution business. Park+ is well-positioned to take advantage of the opportunity presented by Paytm's withdrawal from the Fastag distribution category, as the company accounts for more than 25% of the 82 million Fastags in India. 
• 2023: The FASTag-based smart parking option is currently available to passengers at the Varanasi airport. The FASTag-based smart parking solution offered by Park+ and Airtel Payments Bank was recently introduced at Lal Bahadur Shastri International Airport.

Key Questions Addressed in This Study

• What are the primary factors driving the growth of the India Parking Systems Market?
• How is the India Parking Systems Market expected to evolve over the next five years?
• What key insights can be drawn from current trends shaping the market?
• What is the current market size, and how is it forecasted to change in the coming years?
• What is the future outlook for the market in terms of technological innovation and geographic expansion?

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Why MarkNtel Advisors?

MarkNtel Advisors is a leading research, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.

Our specialization in niche industries informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.

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