United States Vehicle Parking Meter Market was valued at USD 1.0 Billion in 2022 and is projected to reach USD 1.6 Billion by 2030, growing at a CAGR of 6.5% from 2024 to 2030.
The US Vehicle Parking Meter Market has seen significant transformation due to technological advancements and evolving industry demands. With the rise of smart cities and increased urbanization, parking meters have become an essential component of urban infrastructure. The shift towards digital and automated parking solutions has shaped the vehicle parking meter market, allowing businesses and municipalities to cater to the growing demand for efficient parking management systems.
Parking meters, once limited to basic mechanical devices, are now being replaced with digital, solar-powered, and cloud-connected systems. These modern meters offer a host of benefits, including real-time data tracking, dynamic pricing, and remote monitoring capabilities. As industries increasingly focus on sustainability, the requirement for eco-friendly solutions in the vehicle parking meter market has escalated. Solar-powered parking meters, for instance, help reduce carbon footprints while enhancing the operational efficiency of parking management.
The vehicle parking meter market is driven by various industries that rely heavily on well-organized parking infrastructure. The commercial real estate sector, for example, demands parking meters that can handle high-volume areas, such as shopping malls, airports, and office complexes. These locations require meters with high durability and advanced features like contactless payments, ensuring smooth user experiences. In addition, the transportation industry plays a crucial role in the development of parking meters, with innovations like smart sensors and mobile payment integration pushing the industry forward.
Furthermore, municipalities are increasingly investing in parking meters to improve traffic flow and generate revenue. The growing need for smart parking solutions that can optimize space usage and reduce congestion is driving the adoption of advanced meters. These parking meters are crucial in cities with limited parking space, where efficient parking management systems can alleviate the burden on drivers while maximizing revenue generation for local authorities.
The demand for vehicle parking meters continues to evolve as both public and private sectors look for ways to optimize parking spaces, enhance user convenience, and embrace sustainability. As the industry matures, smart technologies and automation will continue to reshape the future of parking management in the United States.
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IPS Group
Duncan Technologies
Meypar
Parking BOXX
Parkeon
Ditech Srl
FAAC (DATAPARK)
IEM SA
Ventek International
Shenzhen Horoad Electronic Technology
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. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. 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 US Vehicle Parking Meter Market
On-Street Parking
Off-Street Parking
Hardware
Software
Coin-Operated Parking Meters
Card-Based Parking Meters
Smart Parking Meters
Public Sector
Private Sector
Cash-Based Payment
Cashless Payment
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 US Vehicle Parking Meter 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. US Vehicle Parking Meter Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. US Vehicle Parking Meter Market, By Type
6. US Vehicle Parking Meter Market, By Application
7. US Vehicle Parking Meter Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. US Vehicle Parking Meter Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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