Middle East and Africa On Street Vehicle Parking Meter Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Parking Meter (Single Space) and Parking Kiosks (Multi Space)) and Payment Type (Credit Card, Bills, and Coins)
Market Introduction
The Middle East and Africa on street vehicle parking meter market is a highly fragmented market with the presence of considerable regional and local players providing numerous solutions for companies investing in the market arena. Smart parking technology is evolving with the rising number of cities suffering from traffic congestion and lack of parking space availability. The on street metering system has already grown by offering multiple payment options like cards, coins, and bills. However, street parking meters are getting integrated with the internet of things (IoT) technology to overcome parking space availability challenges. The IoT sensors provide information to the on-street parking metering system about vacant and occupied parking spaces. This information is further forwarded to vehicle users to find out the parking space availability in particular streets easily. The data generated through IoT technology is helping to manage parking operations effectively. Thus, on-street vehicle parking meters with IoT integration are becoming a future trend in the parking industry. The IoT technology has been evolving in the automotive industry with the advent of connected cars, expected to support market growth. The connected cars are supposed to communicate with parking meters to direct drivers towards the available spot and help in payment processing. Thus, considering the above factors, integration of IoT technology in parking meters is supposed to be a future trend, which will propel the market growth in the forecasted period.
The impact of COVID-19 pandemic varied from country to country across the Middle East and Africa as countries such as South Africa, UAE, Saudi Arabia, Qatar, and Kuwait witnessed a surge in the number of confirmed cases and subsequently imposed stringent and extended lockdowns. The region is projected to register a swift decline in its business activities in urban areas and this will have a negative impact on the on-street vehicle parking meter market. However, the countries are expected to overcome the swift drop in demand as the business activities resume their operational activities and demand for paring kiosks will increase.
Get more information on this report :
Market Overview and Dynamics
The on street vehicle parking meter market in Middle East and Africa is expected to grow from US$ 35.15 million in 2021 to US$ 71.11 million by 2028; it is estimated to grow at a CAGR of 9.2% from 2021 to 2028. The increasing population count in urban cities has driven the vehicles sale. With rising disposable incomes, the population is keen to have their own vehicles for daily commute. Rapid growth in urbanization with the increasing sale of vehicles has led to the increased adoption of smart parking management solutions. The requirement of smart parking meters to efficiently manage available parking spaces has propelled the market growth. In addition, the parking industry is playing a significant role in the country's economic growth with a generation of strong revenue. Conventional and intelligent parking technologies are playing a vital role in the parking industry's revenue growth. Hence, sustaining the growth of the parking industry in the urban region has led to the increasing adoption of on street vehicle parking meters. Also, the governments of various countries are enforcing strict regulations for street parking and meter monitoring, which boost the market growth.
Key Market Segments
Based on type, the parking meter (single space) segment accounted for the largest share of the Middle East and Africa on street vehicle parking meter market in 2020. Based on payment type, the credit card segment accounted for the largest share of the Middle East and Africa on street vehicle parking meter market in 2020.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the Middle East and Africa on street vehicle parking meter market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report include Duncan Solutions; Flowbird; IPS Group, Inc.; Metric Group Ltd.; and Ventek International.
Reasons to buy report
- To understand the Middle East and Africa on street vehicle parking meter market landscape and identify market segments that are most likely to guarantee a strong return
- Stay ahead of the race by comprehending the ever-changing competitive landscape for Middle East and Africa on street vehicle parking meter market
- Efficiently plan M&A and partnership deals in Middle East and Africa on street vehicle parking meter market by identifying market segments with the most promising probable sales
- Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form Middle East and Africa on street vehicle parking meter market
- Obtain market revenue forecast for market by various segments from 2016-2028 in Middle East and Africa region.
Middle East and Africa On Street Vehicle Parking Meter Market Segmentation
Middle East and Africa On Street Vehicle Parking Meter Market -By Type
- Parking Meter (Single Space)
- Parking Kiosks (Multi Space)
Middle East and Africa On Street Vehicle Parking Meter Market -By Payment Type
Middle East and Africa On Street Vehicle Parking Meter Market – By Country
- South Africa
- Saudi Arabia
- UAE
- Rest of Middle East and Africa
Middle East and Africa On Street Vehicle Parking Meter Market – Company Profiles
- Duncan Solutions
- Flowbird
- IPS Group, Inc.
- Metric Group Ltd.
- Ventek International
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Middle East and Africa On Street Vehicle Parking Meter Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. On Street Vehicle Parking Meter Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Growth in Urbanization
5.1.2 Rise in the Need for Smart Parking Solutions
5.2 Market Restraints
5.2.1 An Upsurge in Focus on Off-Street Parking and Emergence of New Payment Technologies
5.3 Market Opportunities
5.3.1 Incrementing Application of the Parking Meters in Developing Nations
5.4 Future Trends
5.4.1 Integration Internet of Things in On Street Parking Meters
5.5 Impact Analysis of Drivers and Restraints
6. On Street Vehicle Parking Meter – Middle East and Africa Market Analysis
6.1 Middle East and Africa On Street Vehicle Parking Meter Market Overview
6.2 Middle East and Africa On Street Vehicle Parking Meter Market Revenue Forecast and Analysis
7. Middle East and Africa On Street Vehicle Parking Meter Market Analysis – By Type
7.1 Overview
7.2 Parking Meter (Single Space)
7.2.1 Overview
7.2.2 Middle East and Africa Parking Meter (Single Space) Market Revenue and Forecasts to 2028 (US$ Million)
7.3 Parking Kiosks (Multi Space)
7.3.1 Overview
7.3.2 Middle East and Africa Parking Kiosks (Multi Space) Market Revenue and Forecasts to 2028 (US$ Million)
8. Middle East and Africa On Street Vehicle Parking Meter Market Analysis – By Payment Type
8.1 Overview
8.2 Credit card
8.2.1 Overview
8.2.2 Middle East and Africa Credit card Market Revenue and Forecasts to 2028 (US$ Million)
8.3 Bills
8.3.1 Overview
8.3.2 Middle East and Africa Bills Market Revenue and Forecasts to 2028 (US$ Million)
8.4 Coins
8.4.1 Overview
8.4.2 Middle East and Africa Coins Market Revenue and Forecasts to 2028 (US$ Million)
9. Middle East and Africa On Street Vehicle Parking Meter Market – Country Analysis
9.1 Middle East and Africa: On Street Vehicle Parking Meter Market
9.1.1 Middle East and Africa: On Street Vehicle Parking Meter Market, By Country
9.1.1.1 South Africa: On Street Vehicle Parking Meter Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.1.1 South Africa: On Street Vehicle Parking Meter Market, By Type
9.1.1.1.2 South Africa: On Street Vehicle Parking Meter Market, By Payment type
9.1.1.2 Saudi Arabia: On Street Vehicle Parking Meter Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.2.1 Saudi Arabia: On Street Vehicle Parking Meter Market, By Type
9.1.1.2.2 Saudi Arabia: On Street Vehicle Parking Meter Market, By Payment type
9.1.1.3 U.A.E: On Street Vehicle Parking Meter Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.3.1 U.A.E: On Street Vehicle Parking Meter Market, By Type
9.1.1.3.2 U.A.E: On Street Vehicle Parking Meter Market, By Payment type
9.1.1.4 Rest of Middle East and Africa: On Street Vehicle Parking Meter Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.4.1 Rest of Middle East and Africa: On street vehicle parking meter Market, By Type
9.1.1.4.2 Rest of Middle East and Africa: On street vehicle parking meter Market, By Payment type
10. Middle East and Africa On Street Vehicle Parking Meter Market - Covid-19 Impact Analysis
10.1 Overview
10.2 Middle East & Africa: Impact Assessment of Covid-19 Pandemic
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
12. Company Profile
12.1 Duncan Solutions
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Flowbird
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 IPS Group, Inc.
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Metric Group Ltd.
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Ventek International
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Word IndexLIST OF TABLES
Table 1. Middle East and Africa On street vehicle parking meter Market Revenue and Forecast to 2028 (US$ Million)
Table 2. South Africa: On Street Vehicle Parking Meter Market, By Type– Revenue and Forecast to 2028 (US$ Million)
Table 3. South Africa: On Street Vehicle Parking Meter Market, By Payment type – Revenue and Forecast to 2028 (US$ Million)
Table 4. Saudi Arabia: On Street Vehicle Parking Meter Market, By Type– Revenue and Forecast to 2028 (US$ Million)
Table 5. Saudi Arabia: On Street Vehicle Parking Meter Market, By Payment type – Revenue and Forecast to 2028 (US$ Million)
Table 6. U.A.E: On Street Vehicle Parking Meter Market, By Type– Revenue and Forecast to 2028 (US$ Million)
Table 7. U.A.E: On Street Vehicle Parking Meter Market, By Payment type – Revenue and Forecast to 2028 (US$ Million)
Table 8. Rest of Middle East and Africa On Street Vehicle Parking meter Market, By Type– Revenue and Forecast to 2028 (US$ Million)
Table 9. Rest of Middle East and Africa On Street Vehicle Parking Meter Market, By Payment type – Revenue and Forecast to 2028 (US$ Million)
Table 10. List of AbbreviationLIST OF FIGURES
Figure 1. On Street Vehicle Parking Meter Market Segmentation
Figure 2. On Street Vehicle Parking Meter Market Segmentation – By Country
Figure 3. Middle East and Africa On Street Vehicle Parking Meter Market Overview
Figure 4. Parking Meter (Single Space) Segment held the Largest Share of On Street Vehicle Parking Meter Market
Figure 5. Credit Card Segment held the Largest Share of On Street Vehicle Parking Meter Market
Figure 6. South Africa to Show Great Traction During Forecast Period
Figure 7. Middle East and Africa – PEST Analysis
Figure 8. On-Street Vehicle Parking Meter Market– Ecosystem Analysis
Figure 9. Expert Opinion
Figure 10. On Street Vehicle Parking Meter Market Impact Analysis of Drivers and Restraints
Figure 11. Middle East and Africa Onstreet vehicle parking meter Market Revenue Forecast and Analysis (US$ Million)
Figure 12. Middle East and Africa On Street Vehicle Parking Meter Market Breakdown By Type, 2020 & 2028 (%)
Figure 13. Middle East and Africa Parking Meter (Single Space) Market Revenue and Forecasts to 2028 (US$ Million)
Figure 14. Middle East and Africa Parking Kiosks (Multi Space) Market Revenue and Forecasts to 2028 (US$ Million)
Figure 15. Middle East and Africa On Street Vehicle Parking Meter Market Breakdown by Payment type, 2020 & 2028 (%)
Figure 16. Middle East and Africa Credit card Market Revenue and Forecasts to 2028 (US$ Million)
Figure 17. Middle East and Africa Bills Market Revenue and Forecasts to 2028 (US$ Million)
Figure 18. Middle East and Africa Coins Market Revenue and Forecasts to 2028 (US$ Million)
Figure 19. Middle East and Africa: On Steet Vehicle Parking Meter Market, by Key Country – Revenue (2020) (USD Million)
Figure 20. Middle East and Africa: On street vehicle parking meter Market Revenue Share, By Country (2020 and 2028)
Figure 21. South Africa: On Street Vehicle Parking Meter Market – Revenue and Forecast to 2028 (US$ Million)
Figure 22. Saudi Arabia: On Street Vehicle Parking Meter Market – Revenue and Forecast to 2028 (US$ Million)
Figure 23. U.A.E: On Street Vehicle Parking Meter Market – Revenue and Forecast to 2028 (US$ Million)
Figure 24. Rest of Middle East and Africa: On Street Vehicle Parking Meter Market – Revenue and Forecast to 2028 (US$ Million)
Figure 25. Impact of Covid-19 Pandemic in Middle East & Africa Country Markets- Duncan Solutions
- Flowbird
- IPS Group, Inc.
- Metric Group Ltd.
- Ventek International
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Middle East and Africa on street vehicle parking meter market.
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the Middle East and Africa on street vehicle parking meter market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth Middle East and Africa market trends and outlook coupled with the factors driving the Middle East and Africa on street vehicle parking meter market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution