IdleAire Technologies - Competitors

IdleAire Technologies Competition

Now Viewing IdleAire Technologies's competition in: Parking Facility Management

Recent Developments

US Parking Rates Continue Rising - US parking rates increased for the fifth straight year in 2008, according to a June 2008 Colliers International survey. Monthly parking rates rose 2.8 percent year-over-year during the 12 months ending June 30, 2008; daily rates rose 4.3 percent. The increase was driven by the limited supply of parking space.

Number of Miles Driven Continues Decline - The number of miles US motorists drive, a demand indicator for parking facilities, declined 4.7 percent in June 2008 compared to June 2007, according to the Federal Highway Administration. It was the biggest monthly drop since a downward trend in driving began in November 2007. Experts cite gas prices that remain near record-highs as a key cause.

Public Transport Use Increasing - Use of some parking facilities may decline as Americans switch to public transportation due to high gas prices. US public transportation use rose 5.2 percent in second quarter 2008 compared to the same period in 2007, according to the American Public Transportation Association. Not all parking facilities may be negatively impacted, however. Light rail had the highest percentage of ridership increase among all modes of public transportation, possibly benefiting companies that manage parking facilities at light rail stations.

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.