In 2017 the International Parking Institute (IPI) launched an expanded initiative focused on parking analytics and benchmarking. Designed to advance the parking profession by collecting, aggregating, and publishing data, this series offers Key Performance Indicators (KPIs) for the industry. This is the third publication in the series, which will continue to evolve and capture KPIs. Parking and transportation organizations are collecting and studying KPIs as a tool to more effectively manage limited resources. IPI is taking the next step to publish industry benchmarks and KPIs that can be used to evaluate and compare individual parking organizations with others in the industry. As the largest parking organization in the world, IPI is uniquely positioned to lead this research. This survey captured data from more than 2 million spaces, representing $2.64 billion in revenue. This survey is a vital first step to collecting specific data on our members and our industry. Organization types surveyed included airport, college, corporate, event center, hospital, municipal, and transportation organizations. IPI expanded this survey in 2017 to include commercial operators, and consultants. IPI will take the research gained in this initiative and grow this series in successive surveys. Read on to dig deeper into some industry data, and participate today! IPI | Parking Analytics: An Industry Snapshot | May 2017 | 1 MAY 2017 Airport Commercial Operator Consultant Transportation/Transit Retail Municipal/Government Hospital/Healthcare Events Center Corporate College/University 29.7% 26.5% 19.7% 6.8% 2.6% 0.6% 6.1% 3.5% 1.0% 3.5% 11,382 10,676 8,360 3,500 9,249 6,864 6,145 $ $39.8M $10.5M $6.4M $2.6M $13.5M $4.0M $18.1M Organization Type Legend Spaces by Organization Type Total Revenue by Organization Type Average Spaces by Organization Type Average Revenue by Organization Type 31.7% 33.2% 5.6% 6.8% 22.4% 49.0% 29.1% 11.8% 3.3% 0.9% 0.8% 5.0% SURVEY RESPONSES * An Industry Snapshot Spaces Surveyed: 2,024,987 $ 2.642 Billion In Total Revenue *Selected segments have been was omitted in some of the graphs due to insufficient data. IPI | Parking Analytics: An Industry Snapshot | May 2017 | 4 PARKING ANALYTICS: An Industry Snapshot For more information, search “Parking Research” in IPI’s online Resource Center at parking.org. MAY 2017 Park Your Data Here Our members are the most vibrant and successful parking organizations across the globe. Add your data to the mix! To participate in our industry survey, visit parking.org/KPIs for a link to the survey, and look for the next publication in the series in fall 2017. n Consultants responses IPI added the design and consultant community to our survey to capture more detail about the state of the parking industry “under construction.” Consultants were asked how many projects were completed in 2015, 2016, and 2017, as well as details about those projects, including project cost and the number of spaces per project. 2017 numbers represent anticipated project completions. These questions addressed the number of construction projects completed or anticipated to be completed in 2017, as well as specific details about those projects. It should be noted that this number of projects is not industry-wide; it is a snapshot of the responses we received in response to the survey from IPI members. It does however indicate the strength and the health of our industry and our membership as a whole. To add your projects and information to these responses, visit parking.org/kpis. 0 100 200 300 400 500 600 700 YEAR Construction Projects Renovation Projects Construction Projects Renovation Projects Construction Projects Renovation Projects Projects 2015 2016 2017 105 135 496 614 555 152 0 50K 100K 150K 200K 250K 300K YEAR New Construction Renovated New Construction Renovated New Construction Renovated Parking Spaces 2015 2016 2017 77,902 112,061 146,744 241,650 280,900 304,440 0 $500M $1,000M $1,500M $2,000M $2,500M $3,000M YEAR New Construction Renovation New Construction Renovation New Construction Renovation Construction Cost 2015 2016 2017 $1,325.1M $1,946.7M $2,785.7M $198.7M $208.7M $163.5M 0 $10K $20K $30K $40K $50K YEAR New Construction Renovation New Construction Renovation New Construction Renovation Cost per Space 2015 2016 2017 $19,995 $41,218 $22,871 $3,615 $3,458 $1,394 0 200 400 600 800 1000 YEAR New Construction Renovated New Construction Renovated New Construction Renovated Parking Spaces 2015 2016 2017 601.2 755.1 847.2 653.3 952.2 954.2 Number of Projects Completed Annually Total Construction Cost Average Construction Cost Parking Spaces Parking Spaces Constructed / Renovated Annually Spaces per Project CONSULTANTS SURVEY RESPONSES