Market Overview:
The global multi-space parking meters market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for smart parking solutions and the growing need for revenue generation by municipalities. The global multi-space parking meters market is segmented on the basis of type, application, and region. On the basis of type, the market is segmented into coins, credit cards, and passport phone apps. The coins segment is expected to hold a major share in terms of revenue in 2018 owing to its low installation cost as compared to other types of payment methods such as credit cards and passport phone apps. However, with increasing adoption of contactless payments across regions, this scenario is likely to change over time. On the basis of application, government institutions are expected to hold a major share in terms of revenue in 2018 owing to rising initiatives undertaken by various governments across regions for smart city projects that include deployment or upgrading existing infrastructure for automated or intelligent parking systems.
Product Definition:
Multi-space parking meters are a type of parking meter that can be used to park multiple cars in a single space. The multi-space meters allow for the payment of parking fees for multiple cars at once, making it easier and faster to park. Multi-space meters are important because they make it easier and faster for people to park, which can help reduce traffic congestion.
Coins:
Coins are small pieces of metal that are used as a medium of exchange in various countries. They can be used to pay for parking meters, vending machines, public transport tickets and even online shopping. The growing adoption of mobile wallets is expected to have a positive impact on the demand for parking meters equipped with coin dispensers over the forecast period. Various smartphone apps such as PayTM and Google wallet allow users to pay their bills using Coins instead of cash or other payment modes.
Credit Cards:
Credit cards are plastic payment devices with a magneticstripe that allows the user to make purchases without having cash. They are widely accepted by retailers and service providers owing to their benefits such as flexibility, convenience, and low cost compared to cash or checks. The global credit card market is expected to witness significant growth over the forecast period owingto its increasing usage in parking meters industry for making payments through mobile applications.
Application Insights:
The government institutions segment dominated the market in 2017 and is expected to witness significant growth over the forecast period. The growing number of hospitals, airports, railway stations, and other public buildings are driving the demand for multi-space parking meters. For instance, according to a study conducted by Inrix Parking Systems Inc., there were approximately 1.9 million active smartphone users in 2016 across North America; this was a 23% increase from 2015. The same study also reported that more than 50% of all smartphones sold in U.S are activated with mobile payments applications such as Apple Pay and Google Wallet which fuels industry growth during the forecast period (2017-2030).
The transit systems application segment is estimated to register notable gains owing to increasing investments by cities & counties throughout North America and Europe into underground garage construction for buses or trains resulting in higher utilization rates of multi-space parking meters near bus stands or metro stations respectively over the next few years (2018 - 2030).
Regional Analysis:
North America dominated the global multi-space parking meters market in 2017. The region is expected to maintain its position during the forecast period owing to increasing government initiatives for sustainable transport and growing adoption of alternative modes of transportation such as public transport and autonomous vehicles. In addition, presence of prominent players in this region will also help maintain dominance over the forecast period.
Asia Pacific is anticipated to witness significant growth over the next eight years due to increasing government spending on infrastructure development coupled with rising demand for convenient travel options that do not involve private cars or personal ownership. These factors are likely to contribute toward regional growth during the forecast period from 2018 to 2030 timeframe. Moreover, countries such as China and Japan have a large number of public spaces where these multi-space parking meters can be used effectively reducing overall cost per space by eliminating need for additional payment or change facility etc.
Growth Factors:
- Increasing demand for parking spaces in urban areas
- Rising concerns over traffic congestion and pollution
- Growing popularity of shared mobility services such as car-sharing and ride-sharing
- Proliferation of smart city initiatives worldwide
- Advances in parking meter technology
Scope Of The Report
Report Attributes
Report Details
Report Title
Multi-Space Parking Meters Market Research Report
By Type
Coins, Credit Cards, Passport Phone Apps
By Application
Government Institutions, Hospitals, Parks, Transit Systems, Malls & Stadiums, Others
By Companies
FLOWBIRD, POM Inc., Hectronic, Kinouwell Tech, IEM, METRIC Group Ltd, J.J. MacKay Canada Limited, IPS Group, Inc., Shenzhen Horoad Electronic Technology, Ventek International, Parking BOXX, CivicSmart, Inc., LocoMobi Inc
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
232
Number of Tables & Figures
163
Customization Available
Yes, the report can be customized as per your need.
Global Multi-Space Parking Meters Market Report Segments:
The global Multi-Space Parking Meters market is segmented on the basis of:
Types
Coins, Credit Cards, Passport Phone Apps
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 Inc.
- Hectronic
- Kinouwell Tech
- IEM
- METRIC Group Ltd
- J.J. MacKay Canada Limited
- IPS Group, Inc.
- Shenzhen Horoad Electronic Technology
- Ventek International
- Parking BOXX
- CivicSmart, Inc.
- LocoMobi Inc
Highlights of The Multi-Space Parking Meters 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:
- Coins
- Credit Cards
- Passport Phone Apps
- 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 Multi-Space Parking Meters 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.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
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?
Multi-space parking meters are a type of parking meter that allow drivers to pay for multiple hours of parking in one transaction. This is different from traditional meters, which only allow drivers to pay for one hour of parking at a time. Multi-space meters also accept coins and credit cards, making them more convenient for customers.
Some of the major companies in the multi-space parking meters market are FLOWBIRD, POM Inc., Hectronic, Kinouwell Tech, IEM, METRIC Group Ltd, J.J. MacKay Canada Limited, IPS Group, Inc., Shenzhen Horoad Electronic Technology, Ventek International, Parking BOXX, CivicSmart, Inc., LocoMobi Inc.
The multi-space parking meters market is expected to register a CAGR of 5.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Multi-Space Parking Meters Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Multi-Space Parking Meters Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Multi-Space Parking Meters Market - Supply Chain
4.5. Global Multi-Space Parking Meters Market Forecast
4.5.1. Multi-Space Parking Meters Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Multi-Space Parking Meters Market Size (000 Units) and Y-o-Y Growth
4.5.3. Multi-Space Parking Meters Market Absolute $ Opportunity
5. Global Multi-Space Parking Meters Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Multi-Space Parking Meters Market Size and Volume Forecast by Type
5.3.1. Coins
5.3.2. Credit Cards
5.3.3. Passport Phone Apps
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Multi-Space Parking Meters Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Multi-Space Parking Meters Market Size and Volume Forecast by Application
6.3.1. Government Institutions
6.3.2. Hospitals
6.3.3. Parks
6.3.4. Transit Systems
6.3.5. Malls & Stadiums
6.3.6. Others
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Multi-Space Parking Meters Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Multi-Space Parking Meters Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Multi-Space Parking Meters Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Multi-Space Parking Meters Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Multi-Space Parking Meters Demand Share Forecast, 2019-2026
9. North America Multi-Space Parking Meters Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Multi-Space Parking Meters Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Multi-Space Parking Meters Market Size and Volume Forecast by Application
9.4.1. Government Institutions
9.4.2. Hospitals
9.4.3. Parks
9.4.4. Transit Systems
9.4.5. Malls & Stadiums
9.4.6. Others
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Multi-Space Parking Meters Market Size and Volume Forecast by Type
9.7.1. Coins
9.7.2. Credit Cards
9.7.3. Passport Phone Apps
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Multi-Space Parking Meters Demand Share Forecast, 2019-2026
10. Latin America Multi-Space Parking Meters Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Multi-Space Parking Meters Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Multi-Space Parking Meters Market Size and Volume Forecast by Application
10.4.1. Government Institutions
10.4.2. Hospitals
10.4.3. Parks
10.4.4. Transit Systems
10.4.5. Malls & Stadiums
10.4.6. Others
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Multi-Space Parking Meters Market Size and Volume Forecast by Type
10.7.1. Coins
10.7.2. Credit Cards
10.7.3. Passport Phone Apps
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Multi-Space Parking Meters Demand Share Forecast, 2019-2026
11. Europe Multi-Space Parking Meters Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Multi-Space Parking Meters Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Multi-Space Parking Meters Market Size and Volume Forecast by Application
11.4.1. Government Institutions
11.4.2. Hospitals
11.4.3. Parks
11.4.4. Transit Systems
11.4.5. Malls & Stadiums
11.4.6. Others
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Multi-Space Parking Meters Market Size and Volume Forecast by Type
11.7.1. Coins
11.7.2. Credit Cards
11.7.3. Passport Phone Apps
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Multi-Space Parking Meters Demand Share, 2019-2026
12. Asia Pacific Multi-Space Parking Meters Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Multi-Space Parking Meters Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Multi-Space Parking Meters Market Size and Volume Forecast by Application
12.4.1. Government Institutions
12.4.2. Hospitals
12.4.3. Parks
12.4.4. Transit Systems
12.4.5. Malls & Stadiums
12.4.6. Others
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Multi-Space Parking Meters Market Size and Volume Forecast by Type
12.7.1. Coins
12.7.2. Credit Cards
12.7.3. Passport Phone Apps
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Multi-Space Parking Meters Demand Share, 2019-2026
13. Middle East & Africa Multi-Space Parking Meters Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Multi-Space Parking Meters Market Size and Volume 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. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Multi-Space Parking Meters Market Size and Volume Forecast by Application
13.4.1. Government Institutions
13.4.2. Hospitals
13.4.3. Parks
13.4.4. Transit Systems
13.4.5. Malls & Stadiums
13.4.6. Others
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Multi-Space Parking Meters Market Size and Volume Forecast by Type
13.7.1. Coins
13.7.2. Credit Cards
13.7.3. Passport Phone Apps
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Multi-Space Parking Meters Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Multi-Space Parking Meters Market: Market Share Analysis
14.2. Multi-Space Parking Meters Distributors and Customers
14.3. Multi-Space Parking Meters Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. FLOWBIRD
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. POM Inc.
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Hectronic
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Kinouwell Tech
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. IEM
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. METRIC Group Ltd
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. J.J. MacKay Canada Limited
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. IPS Group, Inc.
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Shenzhen Horoad Electronic Technology
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Ventek International
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Parking BOXX
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. CivicSmart, Inc.
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. LocoMobi Inc
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
