Report : South America 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 Android Segment to Dominate South America Parking Meter Apps Market during 2021-2028
According to a new market research study on “South America 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$ 3.80 million by 2028 from US$ 1.34 million in 2021. The market is estimated to grow at a CAGR of 16.1% from 2021 to 2028. The report provides trends prevailing in the South America parking meter apps market along with the drivers and restraints pertaining to the market growth. Heightening number of vehicles on road, and surge in the usage of smart technologies are major factors driving the growth of the South America parking meter apps market. However, lack of knowledge in developing and underdeveloped countries may hinder the growth of South America parking meter apps market.
In South America, the government had imposed travel restrictions, lockdowns, and trade bans to contain the infection spread. Thus, the COVID-19 pandemic has been severely affecting the parking meter apps market growth in this region. Further, the market witnessed a decline in performance in South America as the majority of stimulus package deployed by governments were focused on public healthcare and tax relief. However, decrease in the number of new COVID-19 cases, relaxations in COVID-19-led restrictions, and investments and changes in production processes are anticipated to promote market recovery in South America.
The market for South America 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 South America parking meter apps market. Based on end-user, the South America 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 South America parking meter apps market is segmented into Brazil, Argentina and rest of South America. In 2020, Brazil held the largest share in South America parking meter apps market. Furthermore, in this present scenario of COVID 19 pandemic, the South America parking meter apps market has been facing difficulties and several countries have suffered heavily. The manufacturing sectors in the South America countries have been experiencing low production and a weak supply chain. Thereby, impacting the market for parking meter apps.
INRIX, Inc.; Parkopedia; Arrive (ParkWhiz); Passport Labs, Inc.; and Flowbird are some of the leading companies in the South America 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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