Parking Meter Apps Market is Expected to Reach a High Valuation of US$ 358 Million by 2032 | Says FMI - FMIBlog

According to a recent survey conducted by Future Market Insights (FMI), the worldwide market for Parking Meter Apps was valued at $73.8 million in 2022. Furthermore, FMI predicts that this market will grow at a compound annual growth rate (CAGR) of 17.1%, reaching a staggering $358 million by 2032.

According to the report's results, ordinary users, along with other people who use the product or service, will experience a high level of demand in the market and will be responsible for generating a large portion of the revenue. The revenue generated from ordinary users increased at an average annual growth rate of 18.7% between 2017 and 2021. Nevertheless, companies are now more frequently implementing parking meter app solutions to make it more convenient for their employees, and it is expected that they will also make a significant contribution to the market.

The rising quantity of cars on streets enhances the worldwide need for mobile applications that facilitate parking.

Due to the growing amount of cars on the streets, the pandemic has amplified the demand for parking payment methods that don't require physical contact. This has also brought attention to the importance of digital payments in apps that manage parking meters, creating more chances for market participants in this field to expand and prosper.

While these applications have simplified the process of finding parking spaces, hence contributing to the expansion of the international market for parking meter apps, the exorbitant expenses related to constructing and maintaining parking areas have led to high operational costs. Consequently, this has hindered the progress of the global parking meter apps market in developing countries.

Gain valuable knowledge: Access the example document to comprehend the increasing need for mobile applications that oversee parking meters. Snag it here: https://www.futuremarketinsights.com/reports/sample/rep-gb-15671.

The United States remains the dominant source of income for parking meter apps market.

The Parking Meter Apps market in the United States is predicted to be worth a staggering US$ 121.5 Million by 2032, making it the biggest market in the world. Over the period of 2017 to 2021, the US saw a significant growth rate of 18.4% in this market. Furthermore, between 2022 and 2032, there is an anticipated absolute dollar opportunity of US$ 94.7 Million in the US market.

Flowbird, a company specializing in parking and transport ticketing, reports that a majority of major urban areas provide mobile applications for paying parking fees. Notable examples include ParkWhiz, SpotHero, and Parking Panda, which enable users to make reservations for parking spaces in prominent American cities. Moreover, numerous cities across the United States also offer valet apps like Luxe, Zwayo, SpotLight Parking, and Veer, aiming to enhance convenience and accessibility for users.

An analyst from Future Market Insights suggests that the increasing demand for more creative solutions in Parking Meter Apps will be influenced by the inclusion of advanced functionalities, like auto-payment choices and voice guidance accessible through smartphone apps.

Insights into the Competition in the Parking Meter Apps Market

The market for mobile apps that assist with parking meter payments has become increasingly fierce lately. Some of the major companies involved in this industry include IEM SA, INRIX, Inc., ParkMate, Parkopedia, Arrive (ParkWhiz), ParkMobile, LLC, PASSPORT LABS, INC., Flowbird, PayByPhone, EasyPark, Parking Panda, Streetline, BestParking, Waze, HONK, JustPark, and Telpark.

A few important advancements in the market for parking meter apps are as follows:

Increase your profit margin with Future Market Insights – Purchase the report at https://www.futuremarketinsights.com/checkout/15671.

In a new release, Future Market Insights provides an objective evaluation of the Parking Meter Apps Market. This report includes past market information from 2017 to 2021 and predicts future trends from 2022 to 2032.

The research shows significant expansion in the Parking Meter Apps Industry, categorized by Operating System (Android and iOS) and Target User (Individuals and Companies), spanning five geographical regions (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa).

Important Areas Covered In Survey of Parking Meter Apps Market

Market Analysis The market for mobile applications used for parking meter services can be categorized based on the platform they operate on. These applications primarily assist users in finding and paying for parking spaces in a convenient manner. The platform options for parking meter apps include iOS, Android, and Windows. Market Segmentation The parking meter app market can be segmented into three main categories based on the platform they are designed for: iOS, Android, and Windows. Each platform offers its own set of benefits and features for users. The iOS platform, which is exclusive to Apple devices, has a significant share in the parking meter app market. The platform is known for its user-friendly interface and secure payment options. Additionally, the iOS platform has a large user base, which makes it a lucrative market for app developers. The Android platform, on the other hand, is widely used across various devices from different manufacturers. This platform offers a diverse range of parking meter apps, catering to the needs and preferences of a wide range of users. With its large market share and flexibility, the Android platform presents numerous opportunities for app developers. Windows, although not as popular as iOS and Android, still holds a significant share in the parking meter app market. The platform is known for its compatibility with various devices and offers a unique user experience. Windows apps provide users with a seamless parking meter service, ensuring a hassle-free parking experience. Conclusion In conclusion, the parking meter app market is segmented based on the platform they operate on, which includes iOS, Android, and Windows. Each platform offers unique advantages and is targeted towards different user demographics. By understanding these market segments, app developers can tailor their offerings to meet the specific needs and preferences of their target audience.

The Market for Applications for Parking Meters Based on the Type of Consumer:

Regional Analysis of Parking Meter Applications: It is essential to understand the market for parking meter apps across different regions.

Future Market Insights, Inc. (a market research organization certified by ESOMAR and recipient of the Stevie Award, and also a member of the Greater New York Chamber of Commerce) offers detailed analysis on the factors driving market demand. It uncovers favorable opportunities for market growth in different areas, such as Source, Application, Sales Channel, and End Use, over the next decade.

Future Market Insights, based in Newark, Delaware, is located at Christiana Corporate, 200 Continental Drive, Suite 401. If you have any sales inquiries, you can reach us at +1-845-579-5705 or by email at [email protected]. To explore our wide range of reports, you can visit our website at https://www.futuremarketinsights.com/reports. Don't forget to follow us on LinkedIn, Twitter, and check out our blog section for more interesting content.