Industry Analysis & Industry Trends
The Parking Services industry has continued to perform well and is expected to post annualised growth of 3.8% over the five years through 2012-13. Growth in revenue has been supported by strong demand in all market segments. The biggest factor has been the growth in air travel. The concurrent growth in disposable incomes and budget airlines has allowed Australians to travel interstate and overseas in record numbers. On the ground, higher national employment has meant more demand for parking from the almost 70% of Australians who travel to work mainly by car. Growth in employment levels has also boosted income levels, leading to a rise in new car registrations and increased demand for off-peak parking as Australians go out more often after hours... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
The Parking Services industry is operating in the mature stage of its life cycle. Industry value added is forecast to post annualised growth of 0.1% over the 10 years through 2017-18, compared to annualised growth in Australian's GDP of 2.4% over the same period. The relatively weak rise in value added for the industry, relative to the overall economy is characteristic of an industry operating in maturity, as growth across the industry slows to follow that of the general economy.
Maturity across the Parking Services industry is also evident in its count of enterprises, which are expected to post modest growth of 2.9% over the 10 years through 2017-18. Parking service providers are fairly competitive and hence the industry has experienced some rationalisation in operator numbers... purchase to read more