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Asia Pacific On Street Vehicle Parking Meter Market

2021

Asia Pacific 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)

Publication Month: Oct 2021 | Report Code: TIPRE00025193 | No. of Pages: 86 | Category: Automotive and Transportation | Status: Published

Market Insights

Asia Pacific On Street Vehicle Parking Meter Market to Grow at a CAGR of 10.2% to reach US$ 152.52 million from 2021 to 2028

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The Asia Pacific on street vehicle parking meter market is expected to grow from US$ 70.07 million in 2021 to US$ 152.52 million by 2028; it is estimated to grow at a CAGR of 10.2% from 2021 to 2028.


On street parking has strong roots of deployment in developed nations as the peoples are keen towards a modern solution the adoption ratio is higher in developed countries. However, with rising technological advancement and awareness about modern technologies, developing nations like India and China attract numerous Asia Pacific On Street Vehicle Parking Meter market players. The governments of developing nations are investing substantial capital in the parking industry to resolve traffic congestion, parking space availability issue, and reduce air pollution caused due to vehicles. For instance, in April 2021, the Transport Department (“TD”) of the Hong Kong Special Administrative Region Government has awarded the contract of US$ 680 million to Flowbird and HKT under the smart city program to develop digital on-street parking systems. The program includes the installation of ~ 12,000 new parking meters across the streets of Hong Kong, offering digital payment and real-time parking vacancy information. Such an increasing focus on installing smart parking solutions has created substantial growth opportunities for the market in the coming years.

The COVID-19 outbreak has brought business activities to a halt, causing major disruptions in parking industry. Thus, the overall decline of parking industry revenue hampered the demand for on street vehicle parking meters across Asia Pacific during the first two quarters of 2020. However, with the resumption of several economies in the region, the business activities in urban cities have slowly resumed, supporting the Asia Pacific on street vehicle parking meter market growth.

With the new advancements and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Asia Pacific on street vehicle parking meter market. Lack of accessible parking and rising traffic congestions are creating demand for smart parking technology. Smart parking technology keeps evolving with digitalization in payment operations and parking meters advancements. The multi-space parking kiosks are grabbing significant attention in urban cities due to their convenience for payment methods. Governments and private place owners adopt multi-space parking kiosks to manage parking spaces efficiently and increase parking revenue. The rising deployment of smart parking meters to replace the old single-space meters is driving the market growth. The parking authorities of the various countries are replacing the old parking meters with smart technology, and some of them are adopting the technology for the first time. New smart parking meters automate the parking operation with multi-space parking kiosks offering various payment options, including mobile app payments. Such rising focus towards multi-space parking kiosks is driving the market growth.

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Asia Pacific On Street Vehicle Parking Meter Market Segmentation


Asia Pacific On Street Vehicle Parking Meter Market – By Type


  • Parking Meter (Single Space)
  • Parking Kiosks (Multi Space)

Asia Pacific On Street Vehicle Parking Meter Market – By Payment Type


  • Credit Card
  • Bills
  • Coins

Asia Pacific On Street Vehicle Parking Meter Market – By Country


  • China
  • Japan
  • South Korea
  • Australia
  • India
  • Rest of Asia Pacific

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. Asia Pacific 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 An Upsurge in Urbanization

5.1.2 Heightening Demand for Smart Parking Solutions

5.2 Market Restraints

5.2.1 Rising Focus on Off-Street Parking along with Development of New Payment Technologies

5.3 Market Opportunities

5.3.1 Incrementing Use of the Parking Meters in Developing Nations

5.4 Future Trends

5.4.1 Incorporation of Internet of Things in On Street Parking Meters

5.5 Impact Analysis of Drivers and Restraints

6. On Street Vehicle Parking Meter – Asia Pacific Market Analysis

6.1 Asia Pacific On Street Vehicle Parking Meter Market Overview

6.2 Asia Pacific On Street Vehicle Parking Meter Market Revenue Forecast and Analysis

7. Asia Pacific 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 Asia Pacific 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 Asia Pacific Parking Kiosks (Multi Space) Market Revenue and Forecasts to 2028 (US$ Million)

8. Asia Pacific On Street Vehicle Parking Meter Market Analysis – By Payment Type

8.1 Overview

8.2 Credit Card

8.2.1 Overview

8.2.2 Asia Pacific Credit Card Market Revenue and Forecasts to 2028 (US$ Million)

8.3 Bills

8.3.1 Overview

8.3.2 Asia Pacific Bills Market Revenue and Forecasts to 2028 (US$ Million)

8.4 Coins

8.4.1 Overview

8.4.2 Asia Pacific Coins Market Revenue and Forecasts to 2028 (US$ Million)

9. Asia Pacific On Street Vehicle Parking Meter Market Country Analysis

9.1 Asia-Pacific: On street vehicle parking meter Market

9.1.1 Asia-Pacific: On Street Vehicle Parking Meter Market, By Country

9.1.1.1 Australia: On Street Vehicle Parking Meter Market – Revenue and Forecast to 2028 (US$ Million)

9.1.1.1.1 Australia: On Street Vehicle Parking Meter Market, By Type

9.1.1.1.2 Australia: On Street Vehicle Parking Meter Market, By Payment type

9.1.1.2 China: On Street Vehicle Parking Meter Market – Revenue and Forecast to 2028 (US$ Million)

9.1.1.2.1 China: On Street Vehicle Parking Meter Market, By Type

9.1.1.2.2 China: On Street Vehicle Parking Meter Market, By Payment type

9.1.1.3 India: On Street Vehicle Parking Meter Market – Revenue and Forecast to 2028 (US$ Million)

9.1.1.3.1 India: On Street Vehicle Parking Meter Market, By Type

9.1.1.3.2 India: On Street Vehicle Parking Meter Market, By Payment type

9.1.1.4 Japan: On Street Vehicle Parking Meter Market – Revenue and Forecast to 2028 (US$ Million)

9.1.1.4.1 Japan: On Street Vehicle Parking Meter Market, By Type

9.1.1.4.2 Japan: On Street Vehicle Parking Meter Market, By Payment type

9.1.1.5 South Korea: On Street Vehicle Parking Meter Market – Revenue and Forecast to 2028 (US$ Million)

9.1.1.5.1 South Korea: On Street Vehicle Parking Meter Market, By Type

9.1.1.5.2 South Korea: On Street Vehicle Parking Meter Market, By Payment type

9.1.1.6 Rest of Asia-Pacific: On Street Vehicle Parking Meter Market – Revenue and Forecast to 2028 (US$ Million)

9.1.1.6.1 Rest of Asia-Pacific: On street vehicle parking meter Market, By Type

9.1.1.6.2 Rest of Asia-Pacific: On Street Vehicle Parking Meter Market, By Payment type

10. Asia Pacific On Street Vehicle Parking Meter Market - Covid-19 Impact Analysis

10.1 Overview

10.2 Asia Pacific: Impact Assessment of Covid-19 Pandemic

11. Industry Landscape

11.1 Overview

11.2 Market Initiative

11.3 New Product Development

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 IEM SA

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 IPS Group, Inc.

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 Metric Group Ltd.

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

12.6 Ventek International

12.6.1 Key Facts

12.6.2 Business Description

12.6.3 Products and Services

12.6.4 Financial Overview

12.6.5 SWOT Analysis

12.6.6 Key Developments

13. Appendix

13.1 About The Insight Partners

13.2 Word Index

LIST OF TABLES

Table 1. Asia Pacific On street vehicle parking meter Market Revenue and Forecast to 2028 (US$ Million)

Table 2. Australia: On Street Vehicle Parking Meter Market, By Type– Revenue and Forecast to 2028 (US$ Million)

Table 3. Australia: On Street Vehicle Parking Meter Market, By Payment type – Revenue and Forecast to 2028 (US$ Million)

Table 4. China: On Street Vehicle Parking Meter Market, By Type– Revenue and Forecast to 2028 (US$ Million)

Table 5. China: On Street Vehicle Parking Meter Market, By Payment type – Revenue and Forecast to 2028 (US$ Million)

Table 6. India: On street vehicle parking meter Market, By Type– Revenue and Forecast to 2028 (US$ Million)

Table 7. India: On Street Vehicle Parking Meter Market, By Payment type – Revenue and Forecast to 2028 (US$ Million)

Table 8. Japan: On Street Vehicle Parking Meter Market, By Type– Revenue and Forecast to 2028 (US$ Million)

Table 9. Japan: On Street Vehicle Parking Meter Market, By Payment type– Revenue and Forecast to 2028 (US$ Million)

Table 10. South Korea: On Street Vehicle Parking Meter Market, By Type– Revenue and Forecast to 2028 (US$ Million)

Table 11. South Korea: On Street Vehicle Parking Meter Market, By Payment type – Revenue and Forecast to 2028 (US$ Million)

Table 12. Rest of Asia-Pacific: On Street Vehicle Parking Meter Market, By Type– Revenue and Forecast to 2028 (US$ Million)

Table 13. Rest of Asia-Pacific: On Street Vehicle Parking Meter Market, By Payment type – Revenue and Forecast to 2028 (US$ Million)

Table 14. List of Abbreviation

LIST OF FIGURES

Figure 1. On Street Vehicle Parking Meter Market Segmentation

Figure 2. On Street Vehicle Parking Meter Market Segmentation – By Country

Figure 3. Asia Pacific 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. China to Show Great Traction During Forecast Period

Figure 7. Asia-Pacific – 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. Asia Pacific On street vehicle parking meter Market Revenue Forecast and Analysis (US$ Million)

Figure 12. Asia Pacific On Street Vehicle Parking Meter Market Breakdown by Type, 2020 & 2028 (%)

Figure 13. Asia Pacific Parking Meter (Single Space) Market Revenue and Forecasts to 2028 (US$ Million)

Figure 14. Asia Pacific Parking Kiosks (Multi Space) Market Revenue and Forecasts to 2028 (US$ Million)

Figure 15. Asia Pacific On Street Vehicle Parking Meter Market Breakdown by Payment type, 2020 & 2028 (%)

Figure 16. Asia Pacific Credit Card Market Revenue and Forecasts to 2028 (US$ Million)

Figure 17. Asia Pacific Bills Market Revenue and Forecasts to 2028 (US$ Million)

Figure 18. Asia Pacific Coins Market Revenue and Forecasts to 2028 (US$ Million)

Figure 19. Asia Pacific: On Steet Vehicle Parking Meter Market, by Key Country – Revenue (2020) (USD Million)

Figure 20. Asia-Pacific: On street vehicle parking meter Market Revenue Share, By Country (2020 and 2028)

Figure 21. Australia: On Street Vehicle Parking Meter Market – Revenue and Forecast to 2028 (US$ Million)

Figure 22. China: On Street Vehicle Parking Meter Market – Revenue and Forecast to 2028 (US$ Million)

Figure 23. India: On street vehicle parking meter Market – Revenue and Forecast to 2028 (US$ Million)

Figure 24. Japan: On street vehicle parking meter Market – Revenue and Forecast to 2028 (US$ Million)

Figure 25. South Korea: On street vehicle parking meter Market – Revenue and Forecast to 2028 (US$ Million)

Figure 26. Rest of Asia-Pacific: On Street Vehicle Parking Meter Market – Revenue and Forecast to 2028 (US$ Million)

Figure 27. Impact of Covid-19 Pandemic in Asia Pacific Country Markets
  1. Duncan Solutions
  2. Flowbird
  3. IEM SA
  4. IPS Group, Inc.
  5. Metric Group Ltd.
  6. Ventek International
  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Asia Pacific 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 Asia Pacific 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 Asia Pacific market trends and outlook coupled with the factors driving the Asia Pacific 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
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