Market Overview:
The global parking meter device market is expected to grow at a CAGR of 5.5% from 2018 to 2030. The growth in the market can be attributed to the increasing demand for smart parking solutions and rising concerns over traffic congestion and pollution. Parking meter devices are used for collecting payments for parking in a designated area. These devices are either installed as single-space meters or as multi-space kiosks. The application of these devices varies depending on the region, with government institutions, hospitals, parks, transit systems, malls & stadiums being some of the major applications areas. North America is expected to hold the largest share of the global parking meter device market in 2018 owing to factors such as high adoption rate of new technologies and early implementation of smart city initiatives across various cities in this region.
Product Definition:
A parking meter is a device used to collect money in exchange for the right to park a vehicle in a particular space for a limited amount of time. The meter is usually in the form of an upright pole or column with a digital or mechanical display, which shows how much time is left on the meter.
Parking Meter (Single Space):
The global parking meter device market size was valued at USD 3.6 billion in 2015 and is expected to grow at a CAGR of XX% over the forecast period owing to its increasing utility in commercial places such as shopping malls, hospitals, hotels, restaurants and other entertainment complexes among others.
Parking Kiosks (Multi Space):
Parking kiosks are multi-space meters that are used to control the number of vehicles that can be parked on a given space. These devices help in monitoring and managing parking spaces efficiently, which helps in reducing traffic congestion and improving traffic flow. The device is equipped with an electronic display screen or signs to show the available number of slots for parking.
Application Insights:
The government institutions application segment accounted for the largest share of over 30.0% in 2017. The need to manage traffic and control illegal parking is leading to an increased use of these meters across government institutions, hospitals, schools and malls among others. Furthermore, the introduction of smart city projects will further boost this segment growth over the forecast period as it will help cities in managing their traffic problems effectively by installing intelligent systems for controlling vehicular movement and parking.
The transit system application segment is expected to witness significant growth owing to increasing investments by transit agencies in developing efficient public transport systems that cater to a wide range of passenger requirements including comfort, safety & security along with easy accesses from different parts of a city or region towards various destinations through rail or bus stations respectively. Such factors are likely to increase the demand for such devices at transit system facilities thereby propelling market growth during the forecast period.
Regional Analysis:
North America dominated the global parking meter device market in terms of revenue share in 2017. The region is expected to continue its dominance over the forecast period as well owing to factors such as increasing number of smart cities and presence of prominent players operating in this region. Moreover, growing adoption of IoT technology coupled with an increase in demand for on-demand car park spaces is also contributing towards regional growth.
Asia Pacific is anticipated to be the fastest-growing regional market from 2018 to 2030 due to various initiatives undertaken by governments across countries such as China, India, Singapore and Japan for developing smart cities are driving industry growth. For instance, In October 2016; Government Of India launched “UJALA Scheme†under which it distributes free electricity connections at subsidized rates for poor people living below poverty line category (BPL) families living within a municipal area called Smart City Mission areas (SCMAs).
Growth Factors:
- Increasing demand for smart parking meters owing to the advantages offered such as improved efficiency, reduced congestion and emissions, and enhanced customer service.
- Rising installation of parking sensors in commercial areas to manage traffic flow and optimize parking spaces.
- Proliferation of mobile payment technologies that facilitate cashless transactions for parking fees.
- Growing trend of shared mobility services such as car-sharing and ride-sharing which has led to a decrease in the demand for personal vehicles, consequently reducing the need for on-street parking spaces.
Scope Of The Report
Report Attributes
Report Details
Report Title
Parking Meter Device Market Research Report
By Type
Parking Meter (Single Space), Parking Kiosks (Multi Space)
By Application
Government Institutions, Hospitals, Parks, Transit Systems, Malls & Stadiums, Others
By Companies
Flowbird, POM, T2 Systems, Hectronic, MacKay Meters, METRIC Group, IPS Group, Viatron, IEM, Ventek International, Flowbird, Parking BOXX, LocoMobi, Horoad Electronic, Kinouwell Tech
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
237
Number of Tables & Figures
166
Customization Available
Yes, the report can be customized as per your need.
Global Parking Meter Device Market Report Segments:
The global Parking Meter Device market is segmented on the basis of:
Types
Parking Meter (Single Space), Parking Kiosks (Multi Space)
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Government Institutions, Hospitals, Parks, Transit Systems, Malls & Stadiums, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Flowbird
- POM
- T2 Systems
- Hectronic
- MacKay Meters
- METRIC Group
- IPS Group
- Viatron
- IEM
- Ventek International
- Flowbird
- Parking BOXX
- LocoMobi
- Horoad Electronic
- Kinouwell Tech
Highlights of The Parking Meter Device Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Parking Meter (Single Space)
- Parking Kiosks (Multi Space)
- By Application:
- Government Institutions
- Hospitals
- Parks
- Transit Systems
- Malls & Stadiums
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Parking Meter Device Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
A parking meter device is a machine that dispenses tickets for parking in a designated area.
Some of the major players in the parking meter device market are Flowbird, POM, T2 Systems, Hectronic, MacKay Meters, METRIC Group, IPS Group, Viatron, IEM, Ventek International, Flowbird, Parking BOXX, LocoMobi, Horoad Electronic, Kinouwell Tech.
The parking meter device market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Parking Meter Device Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Parking Meter Device Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Parking Meter Device Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Parking Meter Device Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Parking Meter Device Market Size & Forecast, 2020-2028
4.5.1 Parking Meter Device Market Size and Y-o-Y Growth
4.5.2 Parking Meter Device Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Parking Meter (Single Space)
5.2.2 Parking Kiosks (Multi Space)
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Government Institutions
6.2.2 Hospitals
6.2.3 Parks
6.2.4 Transit Systems
6.2.5 Malls & Stadiums
6.2.6 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Parking Meter Device Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Parking Meter Device Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Parking Meter (Single Space)
9.6.2 Parking Kiosks (Multi Space)
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Government Institutions
9.10.2 Hospitals
9.10.3 Parks
9.10.4 Transit Systems
9.10.5 Malls & Stadiums
9.10.6 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Parking Meter (Single Space)
10.6.2 Parking Kiosks (Multi Space)
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Government Institutions
10.10.2 Hospitals
10.10.3 Parks
10.10.4 Transit Systems
10.10.5 Malls & Stadiums
10.10.6 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Parking Meter (Single Space)
11.6.2 Parking Kiosks (Multi Space)
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Government Institutions
11.10.2 Hospitals
11.10.3 Parks
11.10.4 Transit Systems
11.10.5 Malls & Stadiums
11.10.6 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Parking Meter (Single Space)
12.6.2 Parking Kiosks (Multi Space)
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Government Institutions
12.10.2 Hospitals
12.10.3 Parks
12.10.4 Transit Systems
12.10.5 Malls & Stadiums
12.10.6 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Parking Meter (Single Space)
13.6.2 Parking Kiosks (Multi Space)
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Government Institutions
13.10.2 Hospitals
13.10.3 Parks
13.10.4 Transit Systems
13.10.5 Malls & Stadiums
13.10.6 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Parking Meter Device Market: Competitive Dashboard
14.2 Global Parking Meter Device Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Flowbird
14.3.2 POM
14.3.3 T2 Systems
14.3.4 Hectronic
14.3.5 MacKay Meters
14.3.6 METRIC Group
14.3.7 IPS Group
14.3.8 Viatron
14.3.9 IEM
14.3.10 Ventek International
14.3.11 Flowbird
14.3.12 Parking BOXX
14.3.13 LocoMobi
14.3.14 Horoad Electronic
14.3.15 Kinouwell Tech
