North America On Street Vehicle Parking Meter Market to Grow at a CAGR of 7.8% to reach US$ 489.11 million from 2021 to 2028

The North America on street vehicle parking meter market is expected to grow from US$ 267.44 million in 2021 to US$ 489.11 million by 2028; it is estimated to grow at a CAGR of 7.8% from 2021 to 2028.

The parking meter (parking ticket machine) system is one of the most effective way of controlling on-street parking in cities. It is a device a device used to collect money for vehicle parking for a certain amount of time. These vehicle parking meters were traditionally installed in public parking areas to manage traffic and ensure that the public can find parking spaces when visiting the city. Now-a-days, the parking ticket machines were found in private car parks. These serve as a tool for both revenue generation and parking facility. In recent times, the on-street vehicle parking meter comes with advanced facilities. Additionally, on-site vehicle parking meter offers all type of payment options including coins, credit or debit card, smart card, tokens, pay-by-phone, and optional NFC/contactless payment. The growing traffic congestion by vehicles and increasing number of automobiles are driving the growth of the on-street vehicle parking meter market. Furthermore, growing urbanization and infrastructure development in emerging economies are anticipated to create market opportunities for the on-street vehicle parking meter market during the forecast period.

Amid the COVID-19 pandemic, the demand for smart parking technologies increased significantly owing to the surge in demand for contactless payment. This demand has stabilized the use of parking kiosks (multi-space) at some extent. However, the pandemic negatively impacted the on street vehicle parking meter market during the first two quarters of 2020. The demand resumed with the continuation of economic activities in 2021. Thus, the North American market is projected to recover in the coming months and the subsequent years as parking kiosks (multi-space) are more widely adopted in the urban areas.

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 North America on street vehicle parking meter market. 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.

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North America On Street Vehicle Parking Meter Market Segmentation

North America On Street Vehicle Parking Meter Market – By Type

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

North America On Street Vehicle Parking Meter Market – By Payment Type

Credit Card
Bills
Coins

North America On Street Vehicle Parking Meter Market – By Country

US
Canada
Mexico

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. North America 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 Rapid Growth in Urbanization

5.1.2 Increasing Demand for Smart Parking Solutions

5.2 Market Restraints

5.2.1 Rising Focus on Off-Street Parking and Emergence of New Payment Technologies

5.3 Market Opportunities

5.3.1 Growing Adoption of the Parking Meters in Developing Nations

5.4 Future Trends

5.4.1 Integration of Internet of Things in On Street Parking Meters

5.5 Impact Analysis of Drivers and Restraints

6. On Street Vehicle Parking Meter – North America Market Analysis

6.1 North America On Street Vehicle Parking Meter Market Overview

6.2 North America On Street Vehicle Parking Meter Market Revenue Forecast and Analysis

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

8. North America On Street Vehicle Parking Meter Market Analysis – By Payment Type

8.1 Overview

8.2 Credit Card

8.2.1 Overview

8.2.2 North America Credit Card Market Revenue and Forecasts to 2028 (US$ Million)

8.3 Bills

8.3.1 Overview

8.3.2 North America Bills Market Revenue and Forecasts to 2028 (US$ Million)

8.4 Coins

8.4.1 Overview

8.4.2 North America Coins Market Revenue and Forecasts to 2028 (US$ Million)

9. North America On Street Vehicle Parking Meter Market – Country Analysis

9.1 North America: On Street Vehicle Parking Meter Market

9.1.1 North America: On Street Vehicle Parking Meter Market, By Country

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

9.1.1.1.1 United States: On Street Vehicle Parking Meter Market, By Type

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

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

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

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

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

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

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

10. North America On Street Vehicle Parking Meter Market - Covid-19 Impact Analysis

10.1 Overview

10.2 North America: 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 J.J. MacKay Canada Limited (MacKay Meters)

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 Meypar S.L.

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

12.7 Parking BOXX Inc.

12.7.1 Key Facts

12.7.2 Business Description

12.7.3 Products and Services

12.7.4 Financial Overview

12.7.5 SWOT Analysis

12.7.6 Key Developments

12.8 Ventek International

12.8.1 Key Facts

12.8.2 Business Description

12.8.3 Products and Services

12.8.4 Financial Overview

12.8.5 SWOT Analysis

12.8.6 Key Developments

13. Appendix

13.1 About The Insight Partners

13.2 Word Index

LIST OF TABLES

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

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

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

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

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

Table 6. Mexico: On Street Vehicle Parking Meter Market, By Type– Revenue and Forecast to 2028 (US$ Million)

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

Table 8. 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. North America 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. US to Show Great Traction During Forecast Period

Figure 7. North America– 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. North America On street vehicle parking meter Market Revenue Forecast and Analysis (US$ Million)

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

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

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

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

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

Figure 17. North America Bills Market Revenue and Forecasts to 2028 (US$ Million)

Figure 18. North America Coins Market Revenue and Forecasts to 2028 (US$ Million)

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

Figure 20. North America: On Street Vehicle Parking Meter Market Revenue Share, By Country (2020 and 2028)

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

Figure 22. Canada: On street vehicle parking meter Market – Revenue and Forecast to 2028 (US$ Million)

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

Figure 24. Impact of Covid-19 Pandemic in North American Country Markets

Duncan Solutions
Flowbird
IPS Group, Inc.
J.J. MacKay Canada Limited (MacKay Meters)
Metric Group Ltd.
Meypar S.L.
Parking BOXX Inc.
Ventek International

Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the North America 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 North America 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 North America market trends and outlook coupled with the factors driving the North America 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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TIPRE00025183

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North America 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)