About Parking Meter Apps
The global parking meter apps market is expected to grow at a significant pace during the forecast period, according to the AMA study. The increasing number of parking facilities owing to development across different regions and the rising number of airports & railway stations along with different public transport facilities are expected to be some of the major factors aiding the growth of the market. However, the market is expected to witness a decline in growth during FY 2020 but it is again expected to rise at a healthy pace after the COVID-19 pandemic is over.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The vendors in this market are majorly focusing on developing innovative products and solutions in order to cater to the market's demands to remain competitive in the global market. According to the recent global industry crisis due to the outbreak of COVID-19 is expected to be one of the major challenges for the vendors of this market as the production and markets of different industries have been shut down for an ambiguous period of time. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Parking Meter Apps market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Streetline Inc. (United States), Parwhiz (United States), SpotHero (United States), Parkopedia (United States), Honk (Canada), BestParking (United States), Arrive (United States), Parking Panda (United States), INRIX Inc. (United States), AirportParkingReservations.com (United States) and ParkMobile, LLC (United States) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Parking Meter Apps market by , Application (Automatic Vehicle Location, Real-Time Guidance, Routing Management, Alerts & Notifications, Parking Location Management and Others) and Region.
On the basis of geography, the market of Parking Meter Apps has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by End Use, the sub-segment i.e. Car Parks will boost the Parking Meter Apps market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Deployment, the sub-segment i.e. On-Premise will boost the Parking Meter Apps market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Device , the sub-segment i.e. Mobile will boost the Parking Meter Apps market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Automation Across Service Industry and Implementation of Artificial Intelligence in Parking Meter Apps
Market Growth Drivers:
Increasing Number of Parking Facilities in Airports & Railway Stations and Rising Automation Across Parking Facilities
Challenges:
Reduced Transportation Operations & Public Transportation Across Different Regions Owing to COVID-19 Pandemic is Leading to Reduction in Demand for Parking Meter Apps
Restraints:
Availability of Open Source Apps
Opportunities:
Opportunities Across Asia Pacific Region Propelled by Rising Internet & Smartphone Penetration & Development in Parking Infrastructure
Stringent Government Regulations Regarding Lockdown Across Different Cities Worldwide Due to the COVID-19 Pandemic is Impacting the Demand for Parking Meter Apps
Analyst View
Since the COVID-19 virus outbreak in December 2019, the disease has spread to more than 200 countries across the world along with the World Health Organization declaring it a public health emergency. The impact of the COVID-19 has already hit many industries and will affect the global parking meter apps market in FY 2020. The outbreak of COVID-19 has brought effects on many aspects, like scheduled public transportation cancellations; downfall in the real estate sector; travel bans and quarantines; closed operations across hotels & restaurants; banning of public gatherings & events; large slow-down in the supply chain of different markets; stock market unpredictability; declining business assurance, and uncertainty in the future market dynamics.
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.