Bangladesh Parking Meter Market (2022-2028) | Revenue, Growth, Industry, Size, Share, Outlook, Forecast, Analysis, Trends, Value, Segmentation & COVID-19 IMPACT

Market Forecast By Technology (Parking Meter (Single Space), Parking Kiosks (Multi Space), Government Institutions), By Application (Hospitals, Parks, Transit Systems, Malls & Stadiums, Others), By Parking Mode (Pay & Display, Plate, Space, Others) And Competitive Landscape

Product Code: ETC433048 Publication Date: Nov 2022 Product Type: Market Research Report
Publisher: 6Wresearch No. of Pages: 75 No. of Figures: 35 No. of Tables: 20

Bangladesh Parking Meter Market Synopsis

Bangladesh Parking Meter Market has been growing steadily over the past few years attributed to the rising number of vehicles on the roads and the need for efficient parking management. Moreover, the market is expected to continue its growth in the impending years with the government plans to improve infrastructure and upsurge investment in the transport sector. With the growing number of motorbikes and cars in major cities, coupled with the constantly shrinking space for parking, there is an increased need for parking meters.

According to 6Wresearch, Bangladesh Parking Meter Market is expected to grow during 2022-2028. The Asia-Pacific Parking Meter Market is estimated to grow in the impending years primarily driven by the rising number of vehicles and the increase in demand for parking spaces. Additionally, the implementation of rigorous environmental regulations is another major factor fuelling the Bangladesh Parking Meter Market Growth during the forecast period. Moreover, the increasing adoption of advanced technologies such as smart meters and solar-powered meters are propelling the industry growth.

However, the high maintenance and high cost of installation hampering the market growth. Furthermore, the lack of awareness about parking meters in some regions restraining the Bangladesh Parking Meter Market size to expand.

Impact of COVID-19 on Bangladesh Parking Meter Market

The global pandemic had negatively impacted the Bangladesh Parking Meter Industry on the back of several restrictions imposed by the government on various industries. The lockdown measures forced everybody to stay at their homes and to avoid public places such as shopping malls, supermarkets, and others. Consequently, the usage of parking meters declined which has disrupted the production of these meters owing to the decrease in demand.

Competitive Landscape of Bangladesh Parking Meter Market

The market is currently dominated by a handful of players with the leading player accounting for a significant Bangladesh Parking Meter Market share. The Bangladesh Parking Meter Market is complex with a variety of stakeholders that must be considered when developing marketing and sales strategies. Most parking meters in Bangladesh are sold through distributors, who typically sell to end users such as property developers and car park operators. The competitive landscape is consolidated with a few new players. The key players in the market are focusing on intensifying their product portfolios and increasing their topographical reach to gain a larger share of the market. The market for parking meters is highly competitive with several local and international companies vying for market share.

Market analysis based on Application

Based on Application, market is bifurcated into Hospitals, Parks, Transit Systems, Malls & Stadiums, and Others. Each application segment is accounted to dominate the market share attributed to the surging need for parking meters in these places.

Market analysis based on Parking Mode

On the basis of Parking Mode, market is segmented into Pay & Display, Plate, Space, and Others. Each of the segment is widely used owing to their reliable features.

Key attractiveness of the report

  • COVID-19 Impact on the Market.
  • 10 Years Market Numbers.
  • Historical Data Starting from 2018 to 2021.
  • Base Year: 2021.
  • Forecast Data until 2028.
  • Key Performance Indicators Impacting the Market.
  • Major Upcoming Developments and Projects.

Key Highlights of the Report

  • Bangladesh Parking Meter Market Outlook
  • Market Size of Bangladesh Parking Meter Market, 2021
  • Forecast of Bangladesh Parking Meter Market, 2028
  • Historical Data and Forecast of Bangladesh Parking Meter Revenues & Volume for the Period 2018 - 2028
  • Bangladesh Parking Meter Market Trend Evolution
  • Bangladesh Parking Meter Market Drivers and Challenges
  • Bangladesh Parking Meter Price Trends
  • Bangladesh Parking Meter Porter's Five Forces
  • Bangladesh Parking Meter Industry Life Cycle
  • Historical Data and Forecast of Bangladesh Parking Meter Market Revenues & Volume By Technology for the Period 2018 - 2028
  • Historical Data and Forecast of Bangladesh Parking Meter Market Revenues & Volume By Parking Meter (Single Space) for the Period 2018 - 2028
  • Historical Data and Forecast of Bangladesh Parking Meter Market Revenues & Volume By Parking Kiosks (Multi Space) for the Period 2018 - 2028
  • Historical Data and Forecast of Bangladesh Parking Meter Market Revenues & Volume By Government Institutions for the Period 2018 - 2028
  • Historical Data and Forecast of Bangladesh Parking Meter Market Revenues & Volume By Application for the Period 2018 - 2028
  • Historical Data and Forecast of Bangladesh Parking Meter Market Revenues & Volume By Hospitals for the Period 2018 - 2028
  • Historical Data and Forecast of Bangladesh Parking Meter Market Revenues & Volume By Parks for the Period 2018 - 2028
  • Historical Data and Forecast of Bangladesh Parking Meter Market Revenues & Volume By Transit Systems for the Period 2018 - 2028
  • Historical Data and Forecast of Bangladesh Parking Meter Market Revenues & Volume By Malls & Stadiums for the Period 2018 - 2028
  • Historical Data and Forecast of Bangladesh Parking Meter Market Revenues & Volume By Others for the Period 2018 - 2028
  • Historical Data and Forecast of Bangladesh Parking Meter Market Revenues & Volume By Parking Mode for the Period 2018 - 2028
  • Historical Data and Forecast of Bangladesh Parking Meter Market Revenues & Volume By Pay & Display for the Period 2018 - 2028
  • Historical Data and Forecast of Bangladesh Parking Meter Market Revenues & Volume By Plate for the Period 2018 - 2028
  • Historical Data and Forecast of Bangladesh Parking Meter Market Revenues & Volume By Space for the Period 2018 - 2028
  • Historical Data and Forecast of Bangladesh Parking Meter Market Revenues & Volume By Others for the Period 2018 - 2028
  • Bangladesh Parking Meter Import Export Trade Statistics
  • Market Opportunity Assessment By Technology
  • Market Opportunity Assessment By Application
  • Market Opportunity Assessment By Parking Mode
  • Bangladesh Parking Meter Top Companies Market Share
  • Bangladesh Parking Meter Competitive Benchmarking By Technical and Operational Parameters
  • Bangladesh Parking Meter Company Profiles
  • Bangladesh Parking Meter Key Strategic Recommendations

Market Covered

The report offers a comprehensive study of the subsequent market segments:

By Technology

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

By Application

  • Hospitals
  • Parks
  • Transit Systems
  • Malls & Stadiums
  • Others

By Parking Mode

  • Pay & Display
  • Plate
  • Space
  • Others

Frequently Asked Questions About the Market Study: FAQs

1. What aspects drives the Bangladesh Parking Meter Market growth?

The rising number of vehicles on the roads and the need for efficient parking management is driving the growth of Bangladesh Parking Meter Market.

2. Does this market report include the COVID-19 effect?

Yes, this market report includes the COVID-19 effect.

3. What are the major constraints in the Bangladesh Parking Meter Industry?

The high cost of installation and high maintenance are the major constraints in the Bangladesh Parking Meter Industry.

4. What is the forecast period of this report?

The forecast period of this report is 2022-2028.

 
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