Ace Parking - Competitors

Ace Parking Competition

Now Viewing Ace Parking's competition in: Parking Facility Management

Recent Developments

Miami Implements Pay-by-Phone Parking - Miami, Florida, has become the first major US city to implement mobile pay-by-phone for citywide parking facilities, according to Payments News. The Miami Parking Authority offers the payment option at more than 8,000 street parking spaces and over 20 parking lots through Verrus Mobile Technologies. Drivers register free and use a toll-free number, but pay a 35-cent service charge, which includes an optional text message reminder just prior to meter expiration, allowing the motorist to extend the parking time via phone.

Gas Costs may Hinder Use of Parking Facilities - Rising gas costs may hinder drivers' use of their cars, affecting parking facilities. US retail gas prices were 25.9 percent higher on May 1, 2008, than on the same date a year earlier. The short-term outlook is similar: government experts project that regular grade motor gas prices will rise over 25 percent in 2008 compared to 2007.

Parking Fees, Tolls Continue Rise - Consumers are paying higher prices at parking facilities. US consumer prices for parking fees and tolls increased 7 percent in April 2008 compared to a year earlier. Average annual fees and tolls rose 3.3 percent in 2007 and almost 23 percent in five years. Consumers also consider the cost of gas and alternative transportation in decisions to drive and use parking facilities.

Competitive Landscape

Demand is driven by the occupancy rates of commercial real estate: large buildings require parking spaces for commuters, customers, and related area industry. The profitability of individual companies depends on operational efficiency and customer service. Large companies have advantages in relationships with large property managers and owners, and economies of scale in operating efficiency. Small companies can compete effectively by catering to customer needs and operating a desirable location. The industry is labor-intensive: average annual revenue per employee for a typical company is less than $60,000.

Full Industry Overview For Parking Facility Management

Parking Facility Management Industry Forecast

from Hoover's/D&B subsidiary First Research

The output of the US personal services, which includes parking facility management, is forecast to increase at an annual compounded rate of 4.5 percent between 2007 and 2012.

Other Personal Services Output Growth Steadies

First Research forecasts are based on INFORUM forecasts that are licensed from the Interindustry Economic Research Fund, Inc. (IERF) in College Park, MD. INFORUM's "interindustry-macro" approach to modeling the economy captures the links between industries and the aggregate economy.