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Parking Lots & Garages in the US Industry Data and Analysis
The parking industry is undergoing a transformative shift driven by technological advancements and changes in urban mobility. Current trends highlight an ongoing emphasis on automation and intelligent system integration, reshaping how parking facilities operate and serve customers. Over recent years, the prevalence of smart technologies such as IoT devices and data-driven solutions has expanded, optimizing parking space utilization. This technological adoption, along with a steady recovery in nonresidential construction, supports revenue generation by enabling efficient parking management. However, challenges persist as urban drivers often favor more affordable alternatives like free street parking over paid facilities, prompting operators to rethink service offerings to attract customers. Revenue has grown at a CAGR of 9.2% over the past five years, with projections totaling $13.8 billion. However, the industry is expected to only experience a single-year growth of 2.0% by 2025, as the projected growth is largely attributed to the sharp drop in 2020.
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What's included in this industry analysis
IBISWorld's research coverage on the Parking Lots & Garages industry in the United States includes market sizing, forecasting, data and analysis from 2015-2030. The most recent publication was released November 2025.
About this industry
What's this industry report about?
The Parking Lots & Garages industry in the United States operates under the NAICS industry code 81293. This industry comprises operators who provide parking and valet services at establishments on an hourly, daily or monthly basis. It mainly operates via management contracts, lease agreements or property ownership. Related terms covered in the Parking Lots & Garages industry in the United States include leased operation, management contract and mechanical parking structure.
What's included in this industry?
Products and services covered in Parking Lots & Garages industry in the United States include Hourly or daily off-street parking , Weekly or monthly off-street parking in buildings and Weekly or monthly off-street parking on lots .
What companies are included in this industry?
Companies covered in the Parking Lots & Garages industry in the United States include Abm Industries Inc., LAZ Parking Ltd. LLC and Impark Parking Corporation.
Performance
What's included in the Performance chapter?
The Performance chapter covers detailed analysis, datasets, detailed current performance, sources of volatility and an outlook with forecasts for the Parking Lots & Garages industry in the United States.
Questions answered in this chapter include what's driving current industry performance, what influences industry volatility, how do successful businesses overcome volatility, what's driving the industry outlook. This analysis is supported with data and statistics on industry revenues, costs, profits, businesses and employees.
Products & Markets
What's included in the Products and Markets chapter?
The Products and Markets chapter covers detailed products and service segmentation and analysis of major markets for the for the Parking Lots & Garages industry in the United States.
Questions answered in this chapter include how are the industry's products and services performing, what are innovations in industry products and services, what products or services do successful businesses offer and what's influencing demand from the industry's markets. This includes data and statistics on industry revenues by product and service segmentation and major markets.
Geographic Breakdown
What's included in the Geographic Breakdown chapter?
The Geographic Breakdown chapter covers detailed analysis and datasets on regional performance of the Parking Lots & Garages industry in the United States.
Questions answered in this chapter include where are industry businesses located and how do businesses use location to their advantage. This includes data and statistics on industry revenues by location.
Competitive Forces
What's included in the Competitive Forces chapter?
The Competitive Forces chapter covers the concentration, barriers to entry and supplier and buyer profiles in the Parking Lots & Garages industry in the United States. This includes data and statistics on industry market share concentration, barriers to entry, substitute products and buyer & supplier power.
Questions answered in this chapter include what impacts the industry's market share concentration, how do successful businesses handle concentration, what challenges do potential industry entrants face, how can potential entrants overcome barriers to entry, what are substitutes for industry services, how do successful businesses compete with substitutes and what power do buyers and suppliers have over the industry and how do successful businesses manage buyer & supplier power.
Companies
What's included in the Companies chapter?
The Companies chapter covers Key Takeaways, Market Share and Companies in the Parking Lots & Garages industry in the United States. This includes data and analysis on companies operating in the industry that hold a market share greater than 5%.
Questions answered in this chapter include what companies have a meaningful market share and how each company is performing.
External Environment
What's included in the External Environment chapter?
The External Environment chapter covers Key Takeaways, External Drivers, Regulation & Policy and Assistance in the Parking Lots & Garages industry in the United States. This includes data and statistics on factors impacting industry revenue such as economic indicators, regulation, policy and assistance programs.
Questions answered in this chapter include what demographic and macroeconomic factors impact the industry, what regulations impact the industry, what assistance is available to this industry.
Financial Benchmarks
What's included in the Financial Benchmarks chapter?
The Financial Benchmarks chapter covers Key Takeaways, Cost Structure, Financial Ratios, Valuation Multiples and Key Ratios in the Parking Lots & Garages industry in the United States. This includes financial data and statistics on industry performance including key cost inputs, profitability, key financial ratios and enterprise value multiples.
Questions answered in this chapter include what trends impact industry costs and how financial ratios have changed overtime.
Industry Data
What's included in the Industry Data chapter?
The Industry Data chapter includes 10 years of historical data with 5 years of forecast data covering statistics like revenue, industry value add, establishments, enterprises, employment and wages in the Parking Lots & Garages industry in the United States.
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Frequently Asked Questions
What is the market size of the Parking Lots & Garages industry in the United States in 2026?
The market size of the Parking Lots & Garages industry in the United States is $13.8bn in 2026.
How many businesses are there in the Parking Lots & Garages industry in the United States in 2025?
There are 7,783 businesses in the Parking Lots & Garages industry in the United States, which has grown at a CAGR of 2.2 % between 2020 and 2025.
How may import tariffs affect the Parking Lots & Garages industry in the United States?
The Parking Lots & Garages industry in the United States is unlikely to be materially impacted by import tariffs with imports accounting for a low share of industry revenue.
How may export tariffs affect the Parking Lots & Garages industry in the United States?
The Parking Lots & Garages industry in the United States is unlikely to be materially impacted by export tariffs with exports accounting for a low share of industry revenue.
Has the Parking Lots & Garages industry in the United States grown or declined over the past 5 years?
The market size of the Parking Lots & Garages industry in the United States has been growing at a CAGR of 9.2 % between 2020 and 2025.
What is the forecast growth of the Parking Lots & Garages industry in the United States over the next 5 years?
Over the next five years, the Parking Lots & Garages industry in the United States is expected to grow.
What are the biggest companies in the Parking Lots & Garages industry in the United States?
The biggest companies operating in the Parking Lots & Garages industry in the United States are Abm Industries Inc., LAZ Parking Ltd. LLC and Impark Parking Corporation
What does the Parking Lots & Garages industry in the United States include?
Providing off-street parking services and Providing on-street parking services are part of the Parking Lots & Garages industry in the United States.
Which companies have the highest market share in the Parking Lots & Garages industry in the United States?
The company holding the most market share in the Parking Lots & Garages industry in the United States is Abm Industries Inc..
How competitive is the Parking Lots & Garages industry in the United States?
The level of competition is high and steady in the Parking Lots & Garages industry in the United States.
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