India Parking Meter Market (2022-2028) | Size, Industry, Outlook, Share, Growth, Revenue, 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: ETC433040	Publication Date: Nov 2022	Product Type: Market Research Report
Publisher: 6Wresearch	No. of Pages: 75	No. of Figures: 35	No. of Tables: 20

Report Description
Related Topics

India Parking Meter Market Synopsis

The India Parking Meter Market is projected to grow at a faster pace during the forecast period. The market is driven by the growing need for efficient parking management and the rising awareness about the benefits of parking meters.

A parking meter is a device used to collect fees for the use of on-street parking spaces. Parking meters can be used to regulate both on-street and off-street parking. On-street parking meters are typically installed along curbs or in designated areas within a parking lot. Off-street parking meters are usually located in commercial or public garages.

According to 6Wresearch, the India Parking Meter Market size is expected to grow during 2022-2028. Parking meters are typically operated by coins, paper currency, or credit cards. In some cases, they may also be operated by tokens or smart cards. Parking meters typically have time limits, which vary depending on location and time of day. For example, time limits may be longer during weekends or overnight hours.

The growing need for efficient parking management is the major driver for the India Parking Meter Market. Urbanization and the resulting increase in vehicle ownership are leading to a shortage of parking spaces in cities. This has resulted in a need for better parking management to ensure that vehicles can be parked in a safe and orderly manner.

COVID-19 Impact on India Parking Meter Market

The outbreak of the coronavirus pandemic has a measurable and significant impact on parking behavior of people. It also impacted on mobility patterns in general. The pandemic negatively impacted most of the sectors across the world. India Parking Meter Market which is an essential part of the Asia-Pacific Parking Meter Market affected negatively by the pandemic. The pandemic time was extremely tough for the market because of imposing lockdown and social distancing. Since the world is recovering from the pandemic, this led to recovery in the India Parking Meter Market.

Market Analysis by Technology

On the basis of technology, the market can be divided into Parking Meter (Single Space), and Parking Kiosks (Multi Space). Among these, the parking kiosks segment is growing in the market and expected to dominate the market in the coming years.

Market Analysis by Application

On the basis of application, the market can be divided into Hospitals, Parks, Transit Systems, Malls & Stadiums, government institutions and Others. Among these, parks are expected to dominate the Parking Meter Market in India.

Market Analysis by Parking Mode

On the basis of parking mode, the market can be divided into Pay & Display, Plate, Space, and Others. Among these, the pay & display segment has dominated the market and estimated to largest position in the years to come.

Competitive Landscape

The India Parking Meter Market is currently highly competitive, with a large number of manufacturers and suppliers operating in the space. Key players in the market include Smart Parking India, Park+ India, Park Genie India, and Paytm Parking. These companies are focused on providing innovative solutions to meet the growing demand for parking meters in the country.

Smart Parking India is a leading provider of parking meters and other related products in the country. The company offers a wide range of products that are designed to meet the needs of both commercial and residential customers. Smart Parking India also offers a wide range of services that include installation, maintenance, and repairs of parking meters.

Park+ India is another leading provider of parking meters and related products in the country. The company offers a wide range of products that are designed to meet the needs of both commercial and residential customers. Park+ India also offers a wide range of services that include installation, maintenance, and repairs of parking meters.

Paytm Parking is a leading provider of online parking services in the country. The company offers a wide range of services that include online booking, payment, and management of parking spaces. Paytm Parking also offers a mobile app that allows users to book and pay for parking spaces from their smartphones.

Drivers and Restraints of the India Parking Meter Market

The major drivers for the growth of parking meters in India are the ever-increasing number of vehicles, rapid urbanization, and stringent government regulations regarding safety and security. The India Parking Meter Industry is expected to grow more in the years to come. There are many government initiatives that can give boost to this market in the near future. The rising awareness about the importance of effective traffic management is another key factor driving the growth of the parking meter market in India. Parking meters help ensure that vehicles are parked properly and do not cause congestion on roads. This is increasingly becoming important as Indian cities become more crowded and congested. In addition, parking meters also help generate revenue for local governments, which is another factor boosting their demand. However, the high cost of installation and maintenance is restraining the growth of this market.

Opportunities in the India Parking Meter Market

Parking meters can help reduce congestion and double-parking, as well as improve safety by making it easier for drivers to find an available space. They can also help generate revenue for city governments through the collection of fees

The country's economic growth and rising urbanization are the main drivers of this market. Parking meters are used to collect fees for on-street parking, and they are typically operated by local governments or private companies.

The Indian government is investing heavily in infrastructure development, which is expected to drive demand for parking meters over the forecast period. In addition, the government is working on initiatives to promote cashless transactions, which will boost the adoption of electronic parking meters.

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

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