A string $s$ is called a parameterized square when $s = xy$ for strings $x$, $y$ and $x$ and $y$ are parameterized equivalent. Kociumaka et al. showed the number of parameterized squares, which are non-equivalent in parameterized equivalence, in a string of length $n$ that contains $σ$ distinct characters is at most $2 σ! n$ [TCS 2016]. In this paper, we show that the maximum number of non-equivalent parameterized squares is less than $σn$, which significantly improves the best-known upper bound by Kociumaka et al.