MARKET OUTLOOK
Triton has envisioned that the Asia-Pacific parking management market would witness a compound annual growth rate of 13.60% over the forecasting period 2019-2027.
China, Japan, India, ASEAN countries, South Korea, Australia & New Zealand and countries in rest of APAC together form the market for parking management in the Asia-Pacific region.
In 2017, the parking management market generated a revenue of $130.22 million in Japan. The Japan parking management is influenced by factors such as urbanization involving the development of smart cities like Kyoto and Osaka as well as industrialization. Industrialization includes the establishment and presence of many multinational organizations that are operating in various sectors such as FMCG, pharma, automotive and healthcare, which needs transportation & logistics vehicles, that includes MUV and HUV type on a regular basis. According to the OICA, the number of vehicles produced in the automotive industry enhanced by 16.5% in 2016. Amano Corporation and Nippon Parking Co., Ltd. are the organizations operating in the parking management market. Amano Corporation is Japan’s leading organization, which generated a revenue of (¥) 18239.58 million in the year 2016. The vehicle production and sales in Japan accounted for 9,693,746 units and 5,238,888 units respectively, which included both the domestic and commercial vehicles in the year 2017.
COMPETITIVE OUTLOOK
The key companies profiled in the report include 3M Company, Amano McGann, Inc., Cisco Systems, Inc., Cubic Corporation, Deutsche Telekom AG, Gemalto N.V., HCL Infotech Ltd., International Business Machines Corporation (IBM), Indigo, INRIX, Inc., Kapsch Trafficcom AG and MSR-Traffic.