Report Code: CMI50949

Published Date: June 2024

Pages: 320+

Category: Industrial Automation And Equipment

Reports Description

As per the current market research conducted by the CMI Team, the global Parking Vending Machine Market is expected to record a CAGR of 10.2% from 2024 to 2033. In 2024, the market size is projected to reach a valuation of USD 2,378.2 Million. By 2033, the valuation is anticipated to reach USD 5,700.2 Million.

The parking vending machine market encompasses the production and deployment of automated systems designed to facilitate parking payment transactions in various urban and commercial settings. These machines offer users convenient and efficient payment options, including cash, credit/debit cards, mobile payments, and contactless methods.

They play a crucial role in optimizing parking space utilization, reducing congestion, and enhancing overall traffic management in urban environments. With advancements in technology and increasing urbanization, the parking vending machine market continues to evolve, catering to the growing demand for seamless and sustainable parking solutions across diverse industries and geographic regions.

Parking Vending Machine Market – Significant Growth Factors

The Parking Vending Machine Market presents significant growth opportunities due to several factors:

  • Urbanization and Population Growth: Rapid urbanization and population growth lead to increased vehicle ownership and congestion, driving the demand for efficient parking solutions.
  • Technological Advancements: Advancements in technology, such as license plate recognition systems and mobile payment solutions, enhance the functionality and efficiency of parking vending machines, driving market growth.
  • Regulatory Mandates: Government regulations mandating the implementation of parking management systems and digital payment methods stimulate market demand and compliance.
  • Shift towards Contactless Payments: The COVID-19 pandemic accelerates the adoption of contactless payment methods, driving the demand for parking vending machines that support such options.
  • Integration with Smart City Initiatives: Opportunities exist for parking vending machines to integrate with smart city initiatives, enhancing overall urban mobility and traffic management.
  • Expansion into Emerging Markets: There are opportunities for parking vending machine companies to expand into emerging markets where urbanization is on the rise, catering to the growing demand for parking solutions in developing regions.

Parking Vending Machine Market – Mergers and Acquisitions

The Parking Vending Machine Market has seen several mergers and acquisitions in recent years, with companies seeking to expand their market presence and leverage synergies to improve their product offerings and profitability. Some notable examples of mergers and acquisitions in the Parking Vending Machine Market include:

  • In 2023, BMW and Valeo are collaborating to develop the next generation of Level 4 autonomous parking technology. Their system, ranging from deploying assistance to automated valet parking, utilizes car-based sensors and technology. They also work on infrastructure-based services for automated parking and charging in public facilities.
  • In 2022, Nvidia and Jaguar Land Rover are collaborating to integrate AI-based features, including advanced visualization and driver and occupant monitoring, into their vehicles by 2025. This partnership aims to enhance automated driving capabilities and improve the overall driving experience for customers.

These mergers and acquisitions helped companies expand their product offerings, improve their market presence, and capitalize on growth opportunities in the Parking Vending Machine Market. The trend is expected to continue as companies seek to gain a competitive edge in the market.

COMPARATIVE ANALYSIS OF THE RELATED MARKET

Parking Vending Machine Market Micro Motor Market Modular Storage System Market
CAGR 10.2% (Approx) CAGR 5.2% (Approx) CAGR 6.6% (Approx)
USD 5,700.2 Million by 2033 USD 63.6 Billion by 2033 USD 51.2 Billion by 2033

Parking Vending Machine Market – Significant Threats

The Parking Vending Machine Market faces several significant threats that could impact its growth and profitability in the future. Some of these threats include:

  • Security Concerns: Parking vending machines are vulnerable to cybersecurity threats, including hacking and data breaches, which can compromise user information and disrupt parking transactions, leading to potential financial losses and reputational damage.
  • Technological Obsolescence: Rapid advancements in technology may render existing parking vending machines obsolete, necessitating frequent upgrades or replacements to remain competitive in the market. Failure to adapt to evolving technological trends can result in a loss of market share.
  • Regulatory Changes: Changes in government regulations, such as parking fees, taxation policies, and zoning ordinances, can impact the operations and profitability of parking vending machine providers. Compliance with evolving regulatory requirements poses challenges and uncertainties for market players.
  • Competition from Alternative Solutions: Parking vending machines face competition from alternative parking solutions, including mobile parking apps, digital parking meters, and automated parking garages. Failure to differentiate and offer unique value propositions may result in market share erosion.
  • Economic Downturns: Economic downturns and fluctuations in consumer spending patterns can adversely affect parking demand, leading to reduced utilization of parking vending machines and declining revenues for operators. Economic instability and recessionary pressures pose significant threats to market growth and profitability.

Category-Wise Insights

By Payment Method:

  • Cash Payment: Parking vending machines accepting cash payments allow users to pay for parking using physical currency. While declining in popularity due to hygiene concerns and the rise of digital payment methods, cash payment options still cater to users without access to digital payment tools or those preferring anonymity in transactions.
  • Credit/Debit Card Payment: Credit/debit card payment options enable users to pay for parking using their bank-issued cards. This convenient and widely accepted payment method offers users flexibility and security in transactions. Increasingly, parking vending machines are equipped with card readers to accommodate the growing preference for cashless payments.
  • Mobile Payment: Mobile payment solutions allow users to pay for parking using their smartphones or mobile apps. This convenient and contactless payment method offers users flexibility and convenience, enabling them to manage parking transactions remotely. Integration with mobile payment platforms and parking apps is a growing trend in the parking vending machine market.
  • Contactless Payment: Contactless payment options, including NFC (Near Field Communication) and RFID (Radio Frequency Identification), enable users to pay for parking without physical contact with the vending machine. This hygienic and convenient payment method aligns with the increasing demand for touch-free transactions, particularly amidst the COVID-19 pandemic. Parking vending machines equipped with contactless payment capabilities are experiencing growing adoption and demand.

By End User Industry

  • Commercial: Commercial end users include businesses, office buildings, shopping malls, and retail centers. Trends in this segment focus on providing seamless parking experiences for employees, customers, and visitors, with an emphasis on contactless payment options, real-time availability monitoring, and integration with building management systems to optimize parking space utilization and improve overall traffic flow efficiency.
  • Residential: Residential end users encompass apartment complexes, condominiums, and gated communities. Trends in this segment involve implementing parking vending machines to manage resident and guest parking, with features such as resident permit registration, guest pass issuance, and automated payment processing. Integration with resident management platforms and smart home systems enhances convenience and security for residents.
  • Transportation: Transportation end users include airports, train stations, bus terminals, and parking facilities for rental car agencies. Trends in this segment focus on providing efficient and convenient parking solutions for travelers, such as mobile app-based reservation systems, express payment lanes, and automated vehicle retrieval systems for rental cars, enhancing the overall passenger experience and reducing congestion in transportation hubs.
  • Government: Government end users encompass municipal parking authorities, public parking lots, and on-street parking spaces managed by local governments. Trends in this segment involve leveraging parking vending machines to modernize parking infrastructure, streamline revenue collection, and enforce parking regulations effectively. Integration with parking enforcement systems, citation issuance, and payment processing platforms enhances operational efficiency and compliance with parking ordinances.
  • Hospitality: Hospitality end users include hotels, resorts, restaurants, and entertainment venues. Trends in this segment focus on providing seamless parking experiences for guests and patrons, with features such as valet parking reservations, validation programs, and integration with hotel booking systems. Enhanced customer service and personalized parking solutions contribute to guest satisfaction and loyalty in the hospitality industry.
  • Others: The “Others” category may include educational institutions, healthcare facilities, event venues, and recreational parks. Trends in this segment involve implementing parking vending machines to manage parking for students, patients, event attendees, and visitors, with features such as pre-paid parking permits, event-specific parking reservations, and automated payment kiosks. Customized parking solutions cater to the unique needs of diverse end users in this segment.

Type of Parking

  • On-Street Parking: On-street parking vending machines are installed along roadsides or in designated parking zones, allowing drivers to pay for parking directly at the curb. Trends include the integration of mobile payment options, dynamic pricing based on demand, and smart sensors for real-time occupancy monitoring, enhancing convenience and optimizing parking space utilization in urban areas.
  • Off-Street Parking: Off-street parking vending machines are situated in parking lots, garages, or facilities away from public roads. Trends include the implementation of contactless payment solutions, license plate recognition systems for seamless entry and exit, and the integration of parking guidance systems to improve traffic flow and reduce congestion in commercial and residential areas.
  • Automated Parking Systems: Automated parking systems utilize robotic mechanisms to park and retrieve vehicles without human intervention. Trends include the adoption of fully automated payment kiosks integrated into the parking infrastructure, advanced reservation systems for guaranteed parking slots, and the use of AI and machine learning algorithms to optimize parking space allocation and minimize wait times for users.
  • Others: The “Others” category encompasses various parking vending machine types, such as bicycle parking facilities, valet parking services, and parking enforcement systems. Trends in this segment include the development of secure bicycle storage solutions, mobile apps for valet parking reservations, and automated ticketing systems for parking violations, addressing diverse parking needs and regulatory requirements.

By Technology

  • Coin-Operated Machines: Coin-operated machines accept coins as payment for parking. Trends include the integration of digital payment options alongside traditional coin acceptance to accommodate changing consumer preferences and promote contactless transactions, enhancing user convenience and reducing reliance on physical currency.
  • Ticket Dispensing Machines: Ticket dispensing machines issue parking tickets to users upon entry. Trends include the incorporation of barcode or QR code scanning capabilities for seamless ticket validation and integration with mobile apps for digital ticketing and payment, streamlining parking transactions and improving user experience.
  • License Plate Recognition Systems: License plate recognition systems automatically capture and recognize vehicle license plate information for parking access. Trends include advancements in AI and machine learning algorithms for enhanced accuracy and speed, integration with mobile apps for pre-registration and contactless entry, and utilization in parking enforcement and security applications to optimize parking management.
  • Pay-by-Plate Systems: Pay-by-plate systems enable users to pay for parking based on their vehicle’s license plate number. Trends include the adoption of mobile payment apps and online platforms for convenient payment processing, implementation of dynamic pricing models based on demand and occupancy levels, and integration with parking guidance systems for real-time availability updates, enhancing parking efficiency and user satisfaction.
  • Others: The “Others” category may include emerging technologies such as RFID-enabled payment systems, biometric authentication methods, and artificial intelligence-powered parking optimization solutions. Trends in this segment involve the development of innovative payment and access control mechanisms, integration with smart city initiatives for holistic urban mobility solutions, and customization to meet the unique needs of diverse parking environments and user preferences.

Report Scope

Feature of the Report Details
Market Size in 2024 USD 2,378.2 Million
Projected Market Size in 2033 USD 5,700.2 Million
Market Size in 2023 USD 2,158.1 Million
CAGR Growth Rate 10.2% CAGR
Base Year 2023
Forecast Period 2024-2033
Key Segment By Payment Method, End-User Industry, Type of Parking, Technology and Region
Report Coverage Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying Options Request tailored purchasing options to fulfil your requirements for research.

Parking Vending Machine Market – Regional Analysis

The Parking Vending Machine Market is segmented into various regions, including North America, Europe, Asia-Pacific, and LAMEA. Here is a brief overview of each region:

  • North America: In North America, trends in the parking vending machine market include a strong emphasis on contactless payment methods and digitalization of parking transactions to enhance user convenience and safety. Additionally, there is a focus on integrating parking vending machines with smart city initiatives and mobility-as-a-service platforms to optimize urban parking management and support sustainable transportation solutions.
  • Europe: In Europe, key trends in the parking vending machine market revolve around the implementation of sustainable parking solutions, including the adoption of electric vehicle charging stations and eco-friendly parking incentives. There is also a growing emphasis on integrating parking vending machines with public transportation networks and promoting multi-modal transportation options to reduce traffic congestion and emissions in urban areas.
  • Asia-Pacific: In the Asia-Pacific region, trends in the parking vending machine market include the rapid adoption of mobile payment solutions and the development of smart parking infrastructure in major urban centers. There is a focus on leveraging advanced technologies such as artificial intelligence and IoT sensors to optimize parking space utilization and enhance the overall urban mobility experience for commuters.
  • LAMEA: In the LAMEA (Latin America, Middle East, and Africa) region, trends in the parking vending machine market are influenced by rapid urbanization and infrastructure development initiatives. Key trends include the deployment of solar-powered parking vending machines to address energy efficiency concerns and the integration of parking vending machines with transportation hubs and commercial developments to support urban expansion and economic growth.

Competitive Landscape – Parking Vending Machine Market

The Parking Vending Machine Market is highly competitive, with a large number of manufacturers and retailers operating globally. Some of the key players in the market include:

  • Parkeon SA (Now known as Flowbird Group)
  • T2 Systems, Inc.
  • WPS Parking Systems
  • IPS Group Inc.
  • SKIDATA AG
  • Scheidt & Bachmann GmbH
  • Hectronic GmbH
  • Cale Access AB (Now part of FLOW)
  • Ventek International
  • Duncan Solutions, Inc. (A part of Civica Group)
  • Metric Group Ltd (A part of Parkeon SA)
  • Parking BOXX
  • Designa Verkehrsleittechnik GmbH
  • Amano McGann Inc.
  • Secure Parking Pty Ltd
  • Others

These companies operate in the market through various strategies such as product innovation, mergers and acquisitions, and partnerships.

New players entering the parking vending machine market often adopt innovation and technology to establish themselves. Companies like ParkMobile and PassportParking offer mobile payment solutions, revolutionizing parking transactions.

Key players dominating the market include Flowbird Group and T2 Systems, known for their comprehensive parking management solutions and widespread adoption in various urban environments. These dominant players leverage their extensive experience, robust infrastructure, and strategic partnerships with municipalities and commercial entities to maintain market leadership.

They continuously innovate, offering advanced features such as contactless payment options and real-time occupancy tracking to meet evolving customer demands.

The Parking Vending Machine Market is segmented as follows:

By Payment Method

  • Cash Payment
  • Credit/Debit Card Payment
  • Mobile Payment
  • Contactless Payment

By End-User Industry

  • Commercial
  • Residential
  • Transportation
  • Government
  • Hospitality
  • Others

By Type of Parking

  • On-Street Parking
  • Off-Street Parking
  • Automated Parking Systems
  • Others

By Technology

  • Coin-Operated Machines
  • Ticket Dispensing Machines
  • License Plate Recognition Systems
  • Pay-by-Plate Systems
  • Others

Regional Coverage:

North America

  • U.S.
  • Canada
  • Mexico
  • Rest of North America

Europe

  • Germany
  • France
  • U.K.
  • Russia
  • Italy
  • Spain
  • Netherlands
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • New Zealand
  • Australia
  • South Korea
  • Taiwan
  • Rest of Asia Pacific

The Middle East & Africa

  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa

Latin America

  • Brazil
  • Argentina
  • Rest of Latin America

Table of Contents

  • Chapter 1. Preface
    • 1.1 Report Description and Scope
    • 1.2 Research scope
    • 1.3 Research methodology
      • 1.3.1 Market Research Type
      • 1.3.2 Market Research Methodology
  • Chapter 2. Executive Summary
    • 2.1 Global Parking Vending Machine Market, (2024 – 2033) (USD Million)
    • 2.2 Global Parking Vending Machine Market: snapshot
  • Chapter 3. Global Parking Vending Machine Market – Industry Analysis
    • 3.1 Parking Vending Machine Market: Market Dynamics
    • 3.2 Market Drivers
      • 3.2.1 Urbanization and Population Growth
      • 3.2.2 Technological Advancements
      • 3.2.3 Regulatory Mandates
      • 3.2.4 Shift towards Contactless Payments
      • 3.2.5 Integration with Smart City Initiatives
      • 3.2.6 Expansion into Emerging Markets.
    • 3.3 Market Restraints
    • 3.4 Market Opportunities
    • 3.5 Market Challenges
    • 3.6 Porter’s Five Forces Analysis
    • 3.7 Market Attractiveness Analysis
      • 3.7.1 Market Attractiveness Analysis By Payment Method
      • 3.7.2 Market Attractiveness Analysis By End-User Industry
      • 3.7.3 Market Attractiveness Analysis By Type of Parking
      • 3.7.4 Market Attractiveness Analysis By Technology
  • Chapter 4. Global Parking Vending Machine Market- Competitive Landscape
    • 4.1 Company market share analysis
      • 4.1.1 Global Parking Vending Machine Market: Company Market Share, 2023
    • 4.2 Strategic development
      • 4.2.1 Acquisitions & mergers
      • 4.2.2 New Product launches
      • 4.2.3 Agreements, partnerships, collaboration, and joint ventures
      • 4.2.4 Research and development and Regional expansion
    • 4.3 Price trend analysis
  • Chapter 5. Global Parking Vending Machine Market – Payment Method Analysis
    • 5.1 Global Parking Vending Machine Market Overview: By Payment Method
      • 5.1.1 Global Parking Vending Machine Market Share, By Payment Method, 2023 and 2033
    • 5.2 Cash Payment
      • 5.2.1 Global Parking Vending Machine Market by Cash Payment, 2024 – 2033 (USD Million)
    • 5.3 Credit/Debit Card Payment
      • 5.3.1 Global Parking Vending Machine Market by Credit/Debit Card Payment, 2024 – 2033 (USD Million)
    • 5.4 Mobile Payment
      • 5.4.1 Global Parking Vending Machine Market by Mobile Payment, 2024 – 2033 (USD Million)
    • 5.5 Contactless Payment
      • 5.5.1 Global Parking Vending Machine Market by Contactless Payment, 2024 – 2033 (USD Million)
  • Chapter 6. Global Parking Vending Machine Market – End-User Industry Analysis
    • 6.1 Global Parking Vending Machine Market Overview: By End-User Industry
      • 6.1.1 Global Parking Vending Machine Market Share, By End-User Industry, 2023 and 2033
    • 6.2 Commercial
      • 6.2.1 Global Parking Vending Machine Market by Commercial, 2024 – 2033 (USD Million)
    • 6.3 Residential
      • 6.3.1 Global Parking Vending Machine Market by Residential, 2024 – 2033 (USD Million)
    • 6.4 Transportation
      • 6.4.1 Global Parking Vending Machine Market by Transportation, 2024 – 2033 (USD Million)
    • 6.5 Government
      • 6.5.1 Global Parking Vending Machine Market by Government, 2024 – 2033 (USD Million)
    • 6.6 Hospitality
      • 6.6.1 Global Parking Vending Machine Market by Hospitality, 2024 – 2033 (USD Million)
    • 6.7 Others
      • 6.7.1 Global Parking Vending Machine Market by Others, 2024 – 2033 (USD Million)
  • Chapter 7. Global Parking Vending Machine Market – Type of Parking Analysis
    • 7.1 Global Parking Vending Machine Market Overview: By Type of Parking
      • 7.1.1 Global Parking Vending Machine Market Share, By Type of Parking, 2023 and 2033
    • 7.2 On-Street Parking
      • 7.2.1 Global Parking Vending Machine Market by On-Street Parking, 2024 – 2033 (USD Million)
    • 7.3 Off-Street Parking
      • 7.3.1 Global Parking Vending Machine Market by Off-Street Parking, 2024 – 2033 (USD Million)
    • 7.4 Automated Parking Systems
      • 7.4.1 Global Parking Vending Machine Market by Automated Parking Systems, 2024 – 2033 (USD Million)
    • 7.5 Others
      • 7.5.1 Global Parking Vending Machine Market by Others, 2024 – 2033 (USD Million)
  • Chapter 8. Global Parking Vending Machine Market – Technology Analysis
    • 8.1 Global Parking Vending Machine Market Overview: By Technology
      • 8.1.1 Global Parking Vending Machine Market Share, By Technology, 2023 and 2033
    • 8.2 Coin-Operated Machines
      • 8.2.1 Global Parking Vending Machine Market by Coin-Operated Machines, 2024 – 2033 (USD Million)
    • 8.3 Ticket Dispensing Machines
      • 8.3.1 Global Parking Vending Machine Market by Ticket Dispensing Machines, 2024 – 2033 (USD Million)
    • 8.4 License Plate Recognition Systems
      • 8.4.1 Global Parking Vending Machine Market by License Plate Recognition Systems, 2024 – 2033 (USD Million)
    • 8.5 Pay-by-Plate Systems
      • 8.5.1 Global Parking Vending Machine Market by Pay-by-Plate Systems, 2024 – 2033 (USD Million)
    • 8.6 Others
      • 8.6.1 Global Parking Vending Machine Market by Others, 2024 – 2033 (USD Million)
  • Chapter 9. Parking Vending Machine Market – Regional Analysis
    • 9.1 Global Parking Vending Machine Market Regional Overview
    • 9.2 Global Parking Vending Machine Market Share, by Region, 2023 & 2033 (USD Million)
    • 9.3. North America
      • 9.3.1 North America Parking Vending Machine Market, 2024 – 2033 (USD Million)
        • 9.3.1.1 North America Parking Vending Machine Market, by Country, 2024 – 2033 (USD Million)
    • 9.4 North America Parking Vending Machine Market, by Payment Method, 2024 – 2033
      • 9.4.1 North America Parking Vending Machine Market, by Payment Method, 2024 – 2033 (USD Million)
    • 9.5 North America Parking Vending Machine Market, by End-User Industry, 2024 – 2033
      • 9.5.1 North America Parking Vending Machine Market, by End-User Industry, 2024 – 2033 (USD Million)
    • 9.6 North America Parking Vending Machine Market, by Type of Parking, 2024 – 2033
      • 9.6.1 North America Parking Vending Machine Market, by Type of Parking, 2024 – 2033 (USD Million)
    • 9.7 North America Parking Vending Machine Market, by Technology, 2024 – 2033
      • 9.7.1 North America Parking Vending Machine Market, by Technology, 2024 – 2033 (USD Million)
    • 9.8. Europe
      • 9.8.1 Europe Parking Vending Machine Market, 2024 – 2033 (USD Million)
        • 9.8.1.1 Europe Parking Vending Machine Market, by Country, 2024 – 2033 (USD Million)
    • 9.9 Europe Parking Vending Machine Market, by Payment Method, 2024 – 2033
      • 9.9.1 Europe Parking Vending Machine Market, by Payment Method, 2024 – 2033 (USD Million)
    • 9.10 Europe Parking Vending Machine Market, by End-User Industry, 2024 – 2033
      • 9.10.1 Europe Parking Vending Machine Market, by End-User Industry, 2024 – 2033 (USD Million)
    • 9.11 Europe Parking Vending Machine Market, by Type of Parking, 2024 – 2033
      • 9.11.1 Europe Parking Vending Machine Market, by Type of Parking, 2024 – 2033 (USD Million)
    • 9.12 Europe Parking Vending Machine Market, by Technology, 2024 – 2033
      • 9.12.1 Europe Parking Vending Machine Market, by Technology, 2024 – 2033 (USD Million)
    • 9.13. Asia Pacific
      • 9.13.1 Asia Pacific Parking Vending Machine Market, 2024 – 2033 (USD Million)
        • 9.13.1.1 Asia Pacific Parking Vending Machine Market, by Country, 2024 – 2033 (USD Million)
    • 9.14 Asia Pacific Parking Vending Machine Market, by Payment Method, 2024 – 2033
      • 9.14.1 Asia Pacific Parking Vending Machine Market, by Payment Method, 2024 – 2033 (USD Million)
    • 9.15 Asia Pacific Parking Vending Machine Market, by End-User Industry, 2024 – 2033
      • 9.15.1 Asia Pacific Parking Vending Machine Market, by End-User Industry, 2024 – 2033 (USD Million)
    • 9.16 Asia Pacific Parking Vending Machine Market, by Type of Parking, 2024 – 2033
      • 9.16.1 Asia Pacific Parking Vending Machine Market, by Type of Parking, 2024 – 2033 (USD Million)
    • 9.17 Asia Pacific Parking Vending Machine Market, by Technology, 2024 – 2033
      • 9.17.1 Asia Pacific Parking Vending Machine Market, by Technology, 2024 – 2033 (USD Million)
    • 9.18. Latin America
      • 9.18.1 Latin America Parking Vending Machine Market, 2024 – 2033 (USD Million)
        • 9.18.1.1 Latin America Parking Vending Machine Market, by Country, 2024 – 2033 (USD Million)
    • 9.19 Latin America Parking Vending Machine Market, by Payment Method, 2024 – 2033
      • 9.19.1 Latin America Parking Vending Machine Market, by Payment Method, 2024 – 2033 (USD Million)
    • 9.20 Latin America Parking Vending Machine Market, by End-User Industry, 2024 – 2033
      • 9.20.1 Latin America Parking Vending Machine Market, by End-User Industry, 2024 – 2033 (USD Million)
    • 9.21 Latin America Parking Vending Machine Market, by Type of Parking, 2024 – 2033
      • 9.21.1 Latin America Parking Vending Machine Market, by Type of Parking, 2024 – 2033 (USD Million)
    • 9.22 Latin America Parking Vending Machine Market, by Technology, 2024 – 2033
      • 9.22.1 Latin America Parking Vending Machine Market, by Technology, 2024 – 2033 (USD Million)
    • 9.23. The Middle-East and Africa
      • 9.23.1 The Middle-East and Africa Parking Vending Machine Market, 2024 – 2033 (USD Million)
        • 9.23.1.1 The Middle-East and Africa Parking Vending Machine Market, by Country, 2024 – 2033 (USD Million)
    • 9.24 The Middle-East and Africa Parking Vending Machine Market, by Payment Method, 2024 – 2033
      • 9.24.1 The Middle-East and Africa Parking Vending Machine Market, by Payment Method, 2024 – 2033 (USD Million)
    • 9.25 The Middle-East and Africa Parking Vending Machine Market, by End-User Industry, 2024 – 2033
      • 9.25.1 The Middle-East and Africa Parking Vending Machine Market, by End-User Industry, 2024 – 2033 (USD Million)
    • 9.26 The Middle-East and Africa Parking Vending Machine Market, by Type of Parking, 2024 – 2033
      • 9.26.1 The Middle-East and Africa Parking Vending Machine Market, by Type of Parking, 2024 – 2033 (USD Million)
    • 9.27 The Middle-East and Africa Parking Vending Machine Market, by Technology, 2024 – 2033
      • 9.27.1 The Middle-East and Africa Parking Vending Machine Market, by Technology, 2024 – 2033 (USD Million)
  • Chapter 10. Company Profiles
    • 10.1 Parkeon SA (Now known as Flowbird Group)
      • 10.1.1 Overview
      • 10.1.2 Financials
      • 10.1.3 Product Portfolio
      • 10.1.4 Business Strategy
      • 10.1.5 Recent Developments
    • 10.2 T2 Systems Inc.
      • 10.2.1 Overview
      • 10.2.2 Financials
      • 10.2.3 Product Portfolio
      • 10.2.4 Business Strategy
      • 10.2.5 Recent Developments
    • 10.3 WPS Parking Systems
      • 10.3.1 Overview
      • 10.3.2 Financials
      • 10.3.3 Product Portfolio
      • 10.3.4 Business Strategy
      • 10.3.5 Recent Developments
    • 10.4 IPS Group Inc.
      • 10.4.1 Overview
      • 10.4.2 Financials
      • 10.4.3 Product Portfolio
      • 10.4.4 Business Strategy
      • 10.4.5 Recent Developments
    • 10.5 SKIDATA AG
      • 10.5.1 Overview
      • 10.5.2 Financials
      • 10.5.3 Product Portfolio
      • 10.5.4 Business Strategy
      • 10.5.5 Recent Developments
    • 10.6 Scheidt & Bachmann GmbH
      • 10.6.1 Overview
      • 10.6.2 Financials
      • 10.6.3 Product Portfolio
      • 10.6.4 Business Strategy
      • 10.6.5 Recent Developments
    • 10.7 Hectronic GmbH
      • 10.7.1 Overview
      • 10.7.2 Financials
      • 10.7.3 Product Portfolio
      • 10.7.4 Business Strategy
      • 10.7.5 Recent Developments
    • 10.8 Cale Access AB (Now part of FLOW)
      • 10.8.1 Overview
      • 10.8.2 Financials
      • 10.8.3 Product Portfolio
      • 10.8.4 Business Strategy
      • 10.8.5 Recent Developments
    • 10.9 Ventek International
      • 10.9.1 Overview
      • 10.9.2 Financials
      • 10.9.3 Product Portfolio
      • 10.9.4 Business Strategy
      • 10.9.5 Recent Developments
    • 10.10 Duncan Solutions Inc. (A part of Civica Group)
      • 10.10.1 Overview
      • 10.10.2 Financials
      • 10.10.3 Product Portfolio
      • 10.10.4 Business Strategy
      • 10.10.5 Recent Developments
    • 10.11 Metric Group Ltd (A part of Parkeon SA)
      • 10.11.1 Overview
      • 10.11.2 Financials
      • 10.11.3 Product Portfolio
      • 10.11.4 Business Strategy
      • 10.11.5 Recent Developments
    • 10.12 Parking BOXX
      • 10.12.1 Overview
      • 10.12.2 Financials
      • 10.12.3 Product Portfolio
      • 10.12.4 Business Strategy
      • 10.12.5 Recent Developments
    • 10.13 Designa Verkehrsleittechnik GmbH
      • 10.13.1 Overview
      • 10.13.2 Financials
      • 10.13.3 Product Portfolio
      • 10.13.4 Business Strategy
      • 10.13.5 Recent Developments
    • 10.14 Amano McGann Inc.
      • 10.14.1 Overview
      • 10.14.2 Financials
      • 10.14.3 Product Portfolio
      • 10.14.4 Business Strategy
      • 10.14.5 Recent Developments
    • 10.15 Secure Parking Pty Ltd
      • 10.15.1 Overview
      • 10.15.2 Financials
      • 10.15.3 Product Portfolio
      • 10.15.4 Business Strategy
      • 10.15.5 Recent Developments
    • 10.16 Others.
      • 10.16.1 Overview
      • 10.16.2 Financials
      • 10.16.3 Product Portfolio
      • 10.16.4 Business Strategy
      • 10.16.5 Recent Developments
List Of Figures

Figures No 1 to 37

List Of Tables

Tables No 1 to 102

Report Methodology

In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:

Preliminary Data Mining

On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.

Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.

Statistical Model

Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.

Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.

Some of the variables taken into account for forecasting are as follows:

• Industry drivers and constraints, as well as their current and projected impact

• The raw material case, as well as supply-versus-price trends

• Current volume and projected volume growth through 2033

We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.

Primary Validation

This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.

Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.

All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:

• Market leaders

• Suppliers of raw materials

• Suppliers of raw materials

• Buyers.

The following are the primary research objectives:

• To ensure the accuracy and acceptability of our data.

• Gaining an understanding of the current market and future projections.

Data Collection Matrix

Perspective Primary research Secondary research
Supply-side
  • Manufacturers
  • Technology distributors and wholesalers
  • Company reports and publications
  • Government publications
  • Independent investigations
  • Economic and demographic data
Demand-side
  • End-user surveys
  • Consumer surveys
  • Mystery shopping
  • Case studies
  • Reference customers


Market Analysis Matrix

Qualitative analysis Quantitative analysis
  • Industry landscape and trends
  • Market dynamics and key issues
  • Technology landscape
  • Market opportunities
  • Porter’s analysis and PESTEL analysis
  • Competitive landscape and component benchmarking
  • Policy and regulatory scenario
  • Market revenue estimates and forecast up to 2033
  • Market revenue estimates and forecasts up to 2033, by technology
  • Market revenue estimates and forecasts up to 2033, by application
  • Market revenue estimates and forecasts up to 2033, by type
  • Market revenue estimates and forecasts up to 2033, by component
  • Regional market revenue forecasts, by technology
  • Regional market revenue forecasts, by application
  • Regional market revenue forecasts, by type
  • Regional market revenue forecasts, by component

Prominent Player

  • Parkeon SA (Now known as Flowbird Group)
  • T2 Systems, Inc.
  • WPS Parking Systems
  • IPS Group Inc.
  • SKIDATA AG
  • Scheidt & Bachmann GmbH
  • Hectronic GmbH
  • Cale Access AB (Now part of FLOW)
  • Ventek International
  • Duncan Solutions, Inc. (A part of Civica Group)
  • Metric Group Ltd (A part of Parkeon SA)
  • Parking BOXX
  • Designa Verkehrsleittechnik GmbH
  • Amano McGann Inc.
  • Secure Parking Pty Ltd
  • Others

FAQs

The key factors driving the Market are Urbanization and Population Growth, Technological Advancements, Regulatory Mandates, Shift towards Contactless Payments, Integration with Smart City Initiatives, Expansion into Emerging Markets.

The “On-Street Parking” category dominated the market in 2023.

The key players in the market are Parkeon SA (Now known as Flowbird Group), T2 Systems Inc., WPS Parking Systems, IPS Group Inc., SKIDATA AG, Scheidt & Bachmann GmbH, Hectronic GmbH, Cale Access AB (Now part of FLOW), Ventek International, Duncan Solutions Inc. (A part of Civica Group), Metric Group Ltd (A part of Parkeon SA), Parking BOXX, Designa Verkehrsleittechnik GmbH, Amano McGann Inc., Secure Parking Pty Ltd, Others.

“Asia-Pacific” had the largest share in the Parking Vending Machine Market.

The global market is projected to grow at a CAGR of 10.2% during the forecast period, 2024-2033.

The Parking Vending Machine Market size was valued at USD 2,378.2 Million in 2024.

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