New York, According to a new market research report published by Global Insight Services “On-Street Vehicle Parking Meter Market” is expected to reach US$ XX bn by 2031. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
An on-street vehicle parking meter is a device that is used to collect fees for the use of on-street parking spaces. Parking meters are usually located in high-demand areas, such as downtowns, where there is a limited supply of parking spaces. Parking meters help to ensure that these spaces are used efficiently, by providing a way to price parking based on demand. When parking spaces are in high demand, the price of parking will be higher, which encourages people to use other means of transportation, such as public transit.
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Key Trends
The key trends in on-street vehicle parking meter technology are accuracy, convenience, and connectivity.
With the advent of GPS and other location-based technologies, parking meters are becoming more and more accurate, able to pinpoint a vehicle’s location within a few feet.
Convenience is also a key trend in parking meter technology. Many newer meters accept a variety of payment methods, including credit and debit cards, contactless payments, and even apps that allow users to pay for parking without having to use a physical meter.
Connectivity is another key trend in parking meter technology. Many newer meters are connected to the internet, allowing for real-time monitoring and reporting of parking activity.
Key Drivers
The key drivers of the On-Street Vehicle Parking Meter market are time, location, and price. Time is the most important factor, as it determines how long a customer can park in a given space.
Location is also important, as it can impact the availability of parking spaces and the convenience of parking for customers. Price is an important factor, as it can impact both the demand for parking and the revenue generated from parking meters.
Market Segments
The on-street vehicle parking meter market is segmented by type, payment, and region. By type, the market is classified into the parking meter, and parking kiosks. Based on payment, it is bifurcated into credit cards, bills, and others. Region-wise, the market is segmented into North America, Europe, Asia Pacific, and the rest of the World.
Key Players
The on-street vehicle parking meter market includes players such as Ditech SRL, Duncan Solutions, IEM SA, IPS Group Inc., J.J. MacKay Canada Limited, Meypar S.L., Parking Boxx Inc., Ventek International, Flowbird, Metric Group Ltd., and others.
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Reasons to buy On-Street Vehicle Parking Meter Market Report:
• Develop comprehensive understanding of market landscape – industry structure, value-chain, key players, trends, drivers, and challenges
• Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
• Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
• Develop business and M&A strategies through understanding of latest trends and emerging players in the market
• Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market
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