Surging Number of Vehicles Fuels Parking Meter Apps Market Growth
According to our latest study, "Parking Meter Apps Market Size and Forecast (2021–2031), Global and Regional Share, Trend, and Growth Opportunity Analysis – By Platform, End User, and Geography," the market was valued at US$ 193.25 billion in 2024 and is expected to reach US$ 1450.01 million by 2031; it is estimated to register a CAGR of 16.1% during 2025–2031. The report includes growth prospects owing to the current parking meter apps market trends and their foreseeable impact during the forecast period.
According to the International Organization of Motor Vehicle Manufacturers (OICA), global vehicle production in 2024 reflected evolving regional dynamics. China reinforced its position as the world’s leading automotive manufacturing hub, producing approximately 31.3 million vehicles. It represented a 4% increase from the previous year. Notably, India and Mexico emerged as high-growth markets. India increased output by 3% to reach 6 million vehicles, and Mexico achieved a 5% rise to over 4.2 million units. The rising production across diverse regions signals an expanding automotive footprint, particularly in emerging economies. Simultaneously, according to the International Energy Agency (IEA), global electric vehicle (EV) sales reached a record 17 million units in 2024. It represented an increase of over 25% from the previous year. China alone accounted for more than 11 million EV sales, surpassing the global total recorded just two years prior. While EV adoption in the US is growing, it is doing so at a more moderate pace compared to previous years.
Parking Meter Apps Market Analysis — by Geography
Parking Meter Apps Market Size and Forecast (2021-2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Platform (Android and IOS), End User (Personal and Business), and Geography
Global Parking Meter Apps Market Size & Forecast to 2031
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Source: The Insight Partners Analysis
As more vehicles enter road networks—particularly in high-density urban environments—the need for digitized parking solutions becomes increasingly urgent. The surge in EV ownership amplifies this demand, as electric vehicle drivers seek integrated parking solutions that offer charging information and reservation features. Rapid urbanization and rising vehicle ownership in countries such as China, India, and Mexico are driving the demand for mobile-based parking technologies. Parking meter apps support traffic management and space optimization. They also align with broader smart mobility initiatives being implemented in tandem with the rise of EVs. In mature markets such as the US and Japan, EV adoption and digital platforms drive demand for app-based parking as cities upgrade infrastructure and reduce emissions. Thus, the evolving automotive industry—through changes in production and vehicle types—is driving global adoption of parking meter apps.
IEM SA, INRIX, Inc., ParkMate, Arrive, PASSPORT LABS, INC., SpotHero, Inc., APCOA Group GmbH, Telepark(Empark), Parkster, Parclick, SI.GE.RI.CO. Spa, Parklio, Blinkay Mobility, PayByPhone, and Pango are among the key players profiled in the parking meter apps market report. Other major players were also studied and analyzed in the market study to get a holistic view of the market and its ecosystem.
The report includes the parking meter apps market forecast by platform and end user. By platform, the market is divided into Android and iOS. In terms of revenue, the Android segment held the largest parking meter apps market share and is expected to register the highest CAGR during the forecast period.
The scope of the parking meter apps market report focuses on North America (the US, Canada, and Mexico), Europe (Spain, the UK, Germany, France, Italy, and the Rest of Europe), Asia Pacific (South Korea, China, India, Japan, Australia, and the Rest of Asia Pacific), the Middle East & Africa (South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America). North America dominated the market in 2023, followed by Europe and APAC.
The market in Asia Pacific is segmented into Australia, China, Japan, India, South Korea, and the Rest of APAC. In terms of revenue, China held the largest parking meter apps market share in APAC. China is accelerating its smart city development and urban digitalization, driven by increasing demand for tech-enabled mobility solutions. In August 2022, Parkopedia began supporting in-car ‘Access and Pay’ and QR code-based parking payments across over 3 million ETCP-managed parking spaces in 60 major Chinese cities. These innovative payment methods leverage license plate recognition technology, enabling frictionless transactions at nearly 5,000 ETCP-equipped facilities. The ‘Access and Pay’ feature allows for automatic, account-linked payments through a single sign-on system. It enhances driver convenience and reduces payment friction. By integrating both payment options into its existing single API interface, Parkopedia is simplifying the parking experience for users. It is addressing the challenges of China’s highly fragmented parking payment landscape. This strategic move aligns closely with the broader rise in mobile-first, contactless payment adoption in China. It supports the national agenda of smart mobility and urban efficiency. As cities continue to embrace digital transformation, such integrations offer scalable, intelligent solutions for urban congestion and vehicle management.
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