Frost & Sullivan: Vehicle Parking Management Systems in North America and Europe Nurtures a New Ecosystem

-- Today's parking industry offers early stage growth opportunities for technology players and automakers; live web conference

LONDON, Sept. 3, 2013 /PRNewswire/ -- The parking industry has transformed dynamics in its operation with a different genre of participants including automotive OEMs exploring numerous opportunities in parking and expected to witness a major growth phase in this decade. Bundled services with apps are helping parking operators to ease their operations, business and positioning. Early stage growth opportunities will attract more than 20 new start-ups in the parking industry providing real-time parking applications with investments ranging from $200-250 millions in the next three to five years.

Frost & Sullivan is organising a web conference, entitled Future of Vehicle Parking Management Systems in North America and Europe, taking place on Tuesday, 10 September 2013, at 4.00 p.m. BST. Research Manager, Praveen Chandrasekar, and Industry Analyst, Neelam Barua, will introduce emerging parking management systems, present new mobility business models in parking and offer a special focus on parking apps and solutions providers. They will also discuss growth opportunities and give a future outlook on the industry.

To participate in this complimentary web conference, please email Katja Feick at katja.feick@frost.com with your full contact details. Upon receipt of the above information, a registration link will be e-mailed to you. You may also register to receive a recorded version of the briefing at anytime by submitting the aforementioned contact details.

"Participating in this web conference will help to understand the new parking ecosystem which combines technologies and participants from automotive, telecom and IT industry in parking in Europe and North American cities," says Mr. Barua. "It is crucial to understand the growing interest among automotive OEMs to invest in the parking industry and be aware of strategic alliances currently developing within the parking industry."

"The parking industry has witnessed a few technology start-ups (e.g., ParkatmyHouse) leveraging the collaborative or shared economy business model in the United Kingdom for parking and facilitating completely online services designed to connect available vacant parking spaces with people looking to park their cars. This initiative recorded more than £5 million earnings to property owners who had let out their parking space. GottaPark, a parking start up, has helped more than 10,000 vehicle owners in North America for the last six years by offering a peer-to-peer parking business model with a recurring customer base. Streetline (in the United States and Europe) has combined technology and innovation to offer real-time parking solutions to on-street and off-street parking areas benefitting the city councils, traffic management centres, and commuters. These new business models and innovative ideas are paving the way for futuristic vehicle parking solutions," summarises Mr. Barua.

This web conference will benefit core parking operators, parking management companies, automotive OEMs, parking app providers, parking automation companies, technology providers, infrastructure providers, governments and municipalities.

"A new parking ecosystem has developed in the industry with a collaborative consumption of parking and futuristic real-time parking assistance systems in European as well as North American cities," Mr. Barua concludes.

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Contact:
Katja Feick
Corporate Communications – Europe
P: +49 (0) 69 7703343
E: katja.feick@frost.com
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SOURCE Frost & Sullivan