Parking industry growth rate

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Parking industry growth rate

There has always been a parking problem, moreover, it cost Europeans almost $88 billion in 2019 only according to official statistics.

In 2022, the global Parking Management market was valued at $4.38 billion. According to analyst agency Research and Markets, the average annual growth rate over the next 8 years will be 11.1% and the Parking Management industry itself will reach $10.14 billion.

Parking problem

Parking problem
  • going to cars, we lay down extra time to find parking. It takes an average of 20 minutes a day to find a free parking space near your home, office, restaurant, gym, or business center.
  • The actual parking space is enclosed by a barrier on the lock, which must be opened / closed daily, get out of the car, regardless of weather conditions.
  • having our own parking space, we use it only part of the day, and all the free time it is blocked, with no possibility of parking other cars.
  • To find a free space by the curb in a busy part of town, sometimes we have to go around several blocks before we find a parking space.

Interesting fact: 26% of people got into a verbal argument or fight over a parking space, and 97% believe there is a link between parking-related congestion and hazardous emissions.

The scale of the problem in numbers

The scale of the problem in numbers
20 minutes a day
a car driver spends at least 120 hours per year or 600 hours in 5 years (personal and work time) to find a parking space
1.5 hours per day
A truck driver spends 264 hours per year or 1,320 hours over 5 years (working time) to find a parking space
42 hours
average number of hours a person spends in traffic each year
50 meters
average distance from parked car to destination (almost half a soccer field)
160 billion dollars
costs Europeans the problem with parking every year
74 percent of car traffic
traffic caused by drivers looking for available parking space;
95 percent
that much time a car is idle because the driver doesn't want to waste time looking for parking
25 percent
A portion of the population engaged in a verbal argument or fight with another driver over a parking space
100 percent of people
believe that there is a connection between parking-related traffic congestion and hazardous emissions

Market outlook

Market outlook
4,38 млрд $
The global Parking Management market was valued at $4.38 billion in 2022.
11.1 %
According to analytical agency Research and Markets, the average annual growth rate over the next 8 years
10.14 млрд $
Over the next 8 years, the Parking Management industry will reach $10.14 billion.
500 000 000
of parking spaces in Western Europe, while the U.S. has more than 2 billion.


Gimle Parking, a parking app for Ukraine and Europe

Our team was selected as one of the top 20 most promising Ukrainian startups.

AIN and AIN Capital about the Gimle Parking product

Parking problem and the scale of the problem in numbers

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