Smart Parking Payment Machine Market size was valued at USD 1.2 Billion in 2024 and is projected to reach USD 2.8 Billion by 2033, exhibiting a CAGR of 10.2% from 2026 to 2033.
In 2022, the global Smart Parking Payment Machine market was valued at USD 2.57 billion and is projected to reach USD 6.12 billion by 2030, growing at a compound annual growth rate (CAGR) of 12.0% from 2024 to 2030. This growth is driven by the increasing adoption of automated parking solutions and advancements in technologies such as the Internet of Things (IoT) and contactless payments. The commercial segment dominated the market, accounting for over 42% of the revenue share, attributed to the rising implementation of smart parking systems in corporate buildings, shopping malls, and other public places. Regionally, North America held a significant share of over 35% in the global smart parking systems market in 2022, fueled by the increasing number of vehicles and public private collaborations to introduce smart parking solutions. Europe also demonstrated substantial growth, with countries like Germany and the UK advancing in parking and urban mobility solutions. The Asia Pacific region is anticipated to witness the fastest growth, driven by rapid urbanization, government backed smart city initiatives, and a growing demand for sustainable infrastructure.
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Jieshun
Hectronic
Kinouwell Tech
ETCP
METRIC Group
Shenzhen Horoad Electronic Technology
IPS Group
Ventek International
Parking BOXX
LocoMobi
CivicSmart
Flowbird
MacKay Meters
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Smart Parking Payment Machine Market
Contactless Payment
Mobile Payment
Credit/Debit Card Payment
Cash Payment
Commercial
Residential
Government
Hospitality
Off-Street Parking
On-Street Parking
RFID-Based Parking
QR Code-Based Parking
License Plate Recognition-Based Parking
Bluetooth-Based Parking
Hardware
Software
Services
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Smart Parking Payment Machine Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Smart Parking Payment Machine Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Smart Parking Payment Machine Market, By Type
6. Global Smart Parking Payment Machine Market, By Application
7. Global Smart Parking Payment Machine Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Smart Parking Payment Machine Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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