Parking Meter Apps Market, Top key players are IEM SA, INRIX, Inc., ParkMate, Parkopedia, Arrive (ParkWhiz), ParkMobile

These technologies ensure the ability to offer flexibility and scalability to the users owing to the growth of the global Parking Meter Apps Market.

PUNE, MAHARASHTRA, INDIA, February 8, 2022 /EINPresswire.com/ -- “Parking Meter Apps Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product Type, Ammunition, Accessories, and Geography,” the market is expected to grow from US$ 62.2 million in 2021 to US$ 234.2 million by 2028; it is estimated to register a CAGR of 18.7% from 2021 to 2028.

Parking Meter Apps Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Platform (Android and iOS) and End User (Personal and Businesses)

The growing traffic congestion due to the rise in vehicle count is driving the growth of the parking meter apps market. These vehicle parking meters are traditionally installed in public parking areas to manage traffic and ensure easy parking space is available for visitors. Nowadays, technological advancements in parking management systems, such as the Internet of Things (IoT) and app-based e-payments, are enhancing consumer experience and boosting parking meter app adoption. Furthermore, the growing demand for electric vehicles is encouraging city authorities to deploy smart parking stations having enhanced connectivity to modern technologies. Access to real-time parking data would save drivers’ time spent on finding parking space, along with reducing traffic congestion. With the ever-increasing penetration of smartphones and availability of mobile applications integrated with different features, it has become possible for vehicles users to navigate toward vacant parking spaces, which is one of the significant factors boosting the parking meter apps market.

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Impact of COVID-19 Pandemic on Parking Meter Apps Market

The COVID-19 pandemic has caused disruptions in parking industries due to restrictions on intercity travel and office operations. A sharp decline in the growth of parking users due to the pandemic has delayed or postponed the planned investment for parking management, which restricted the parking meter apps market growth. However, the importance of digital payments in parking meters and the requirement of contactless parking payment solutions have increased amid the pandemic conditions, thereby creating lucrative growth opportunities for the parking meter app market players.
Parking Meter Apps Market Insights.

Traffic congestion and parking space unavailability have been long-term problems in developed and developing regions worldwide. At present, smart parking technologies are revolutionizing the car park applications (apps). A few of the smart technologies experiencing tremendous demand in the current parking meter app designing are parking guidance information systems, automated parking systems, smart parking payment systems, and parking reservation systems. In addition, demand for the security and safety of parked vehicles is also increasing rapidly among drivers and vehicle owners, which is propelling the procurement of parking surveillance systems Another factor boosting the adoption of smart technologies is their ability to optimize vacant spaces and provide real-time parking space information. This eventually helps drivers in parking their vehicles on-street as well as off-street with ease.

Parking Meter Apps Market: Competitive Landscape and Key Developments

IEM SA, INRIX, Inc., ParkMate, Parkopedia, Arrive (ParkWhiz), ParkMobile, LLC, PASSPORT LABS, INC., Flowbird, PayByPhone, and EasyPark

The parking meter apps market is segmented on the basis of platform, end user, and geography. These apps are based on iOS and Android platforms. Based on end user, the global parking meter apps market is segmented into personal and businesses. In terms of geography, the parking meter apps market is segmented into North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and South America (SAM).

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