Report : Middle East and Africa Parking Meter Apps Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Platform (Android and iOS) and End-User (Personal and Businesses)
The Personal Segment to Dominate Middle East and Africa Parking Meter Apps Market during 2021-2028
According to a new market research study on “Middle East and Africa parking meter apps market to 2028 – COVID-19 Impact and Regional Analysis and Forecast – by Platform, End-User and Country,” is expected to reach US$ 9.95 million by 2028 from US$ 3.22 million in 2021. The market is estimated to grow at a CAGR of 17.5% from 2021 to 2028. The report provides trends prevailing in the Middle East and Africa parking meter apps market along with the drivers and restraints pertaining to the market growth. An upsurge in the number of vehicles on road, and rising incorporation of smart technologies are major factors driving the growth of the Middle East and Africa parking meter apps market. However, limited presence in developing and underdeveloped countries may hinder the growth of Middle East and Africa parking meter apps market.
The parking meter apps market in the Middle East and Africa has witnessed a decline due to disruptions in supply chains; enactment of containment measures such as travel restrictions, production shutdown, and lockdowns; and the disrupted supply and distribution of electronics and mechanical automotive components. The market is growing steading due to escalating development of commercial and residential buildings and public parking spaces to enhance the implementation of advanced parking solutions, improve efficiencies, and enhance safety. However, the imposition of travel restrictions and disruption in supply chains in Saudi Arabia and the UAE are limiting the parking meter apps market growth to a certain extent. On the other side, the market would witness growth after the pandemic.
The market for Middle East and Africa parking meter apps is segmented into platform, end-user and country. Based on platform, the market is segmented into android and iOS. In 2020, the android segment held the largest share in Middle East and Africa parking meter apps market. Based on end-user, the Middle East and Africa parking meter apps market is divided into personal and businesses. The personal segment is expected to be the fastest growing segment over the forecast period. Based on country, the Middle East and Africa parking meter apps market is segmented into South Africa, UAE, Saudi Arabia and rest of Middle East and Africa. In 2020, Saudi Arabia held the largest share in Middle East and Africa parking meter apps market. Furthermore, in this present scenario of COVID 19 pandemic, the Middle East and Africa parking meter apps market has been facing difficulties and several countries have suffered heavily. The manufacturing sectors in the Middle East and Africa countries have been experiencing low production and a weak supply chain. Thereby, impacting the market for parking meter apps.
INRIX, Inc.; Parkopedia.; Passport Labs, Inc.; Flowbird; and EasyPark are some of the leading companies in the Middle East and Africa parking meter apps market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.
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