The report released by Research And Markets focuses on the parking management services sector in South Africa. It covers car park operation, operation of parking lots and garages, parking building operation, and parking lot operation.
It includes comprehensive profiles of 12 companies including major players Servest and Interpark, as well as parking management services companies Karabo and Afripark, and P and S Iheanacho Trading, which trades as Safe Car, and offers airport parking services and management at OR Tambo Airport.
The parking management solutions market is growing as traffic congestion intensifies. New technologies are rapidly changing the parking management landscape with new participants in the sector facilitating smart parking aided by real-time parking information and technology.
The segment of the market that provides advisory services, revenue collection and management of parking operations is highly concentrated and dominated by Interpark and Servest, with five local companies holding 97% market share.
The parking systems segment including monitoring, automated revenue systems and smart solutions for parking areas is fragmented with smaller players holding 34% market share and a number of international companies participating, Business Wire published.
Access control, parking reservation applications, cellular connectivity and analytics are some of the technologies having a profound effect on this sector. Telematics is enhancing the efficiency of parking management in urban areas with features including real-time monitoring of volumes and forecasting of available space.
Biometrics, ID management and licence plate recognition-based automatic vehicle identification are some techniques used in access control for parking management. Ticketless and cashless apps, smart parking apps and other technologies are improving efficiencies, reducing traffic congestion and enhancing security.
With inputs from agency.