The Parking Services industry has recorded steady growth over the last five years. Industry revenue grew 6.1% annualised to be worth $1.29 billion in 2011-12. In the current year, revenue is forecast to grow 5.8%. Australia's love affair with the car continues. The industry was well positioned in the years through 2011-12, with demand for parking growing faster than industry capacity. The industry was therefore able to pass on congestion charges as they were introduced and raise fees ahead of the consumer price index in most markets. Over the same period, technology replaced labour and so profit increased with revenue as the industry's underlying costs decreased.
This industry consists of third party companies providing motor vehicle parking facilities. The industry excludes car parks that are operated by councils.
The report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecast, growth rates and an analysis of the industry key players and their market shares.