On Street Vehicle Parking Meter Market Share, Size, and Trends by 2028
On Street Vehicle Parking Meter Market: Strategic Insights
On Street Vehicle Parking Meter Market
-
CAGR (2021 - 2028)8.6% -
Market Size 2021
US$ 590.7 Million -
Market Size 2028
US$ 1,138.8 Million
Market Dynamics
GROWTH DRIVERS
- Rising urbanization and increased vehicle ownership create a growing demand for efficient parking solutions.
- Government initiatives promoting smart city developments enhance the adoption of advanced parking meter technologies.
- Increased need for revenue generation through parking fees drives the deployment of modern parking meters.
FUTURE TRENDS
- Increased integration of IoT technology in parking meters for real-time data collection and management.
- Development of mobile applications for seamless parking payment and space availability notifications.
- Growing emphasis on sustainability will drive the adoption of eco-friendly materials in parking meter manufacturing.
OPPORTUNITIES
- Expansion of contactless payment options presents opportunities for innovative parking meter designs.
- Growing demand for integrated parking management systems can lead to advancements in parking meter functionalities.
- Opportunities in retrofitting existing parking meters with smart technologies to improve user experience.
Key Players
- DITECH SRL
- DUNCAN SOLUTIONS
- FLOWBIRD
- IEM SA
- IPS GROUP INC
- J J MACKAY CANADA LIMITED MACKAY METERS
- METRIC GROUP LTD
- MEYPAR S L
- PARKING BOXX INC
Regional Overview
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
Type - Parking Meter
- Parking Kiosks
Payment Type- Credit card
- Bills
- Coins
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