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The parking meter apps market size was valued at US$159.31 million 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 development of AI-powered parking solutions is likely to bring new market trends in the future.
Parking Meter Apps Market Analysis
The increasing penetration of smartphones and a surging number of vehicles are key factors driving the growth of the parking meter apps market. The rising urbanization & smart city initiatives, and integration with EV charging stations are expected to generate lucrative opportunities for the market in the upcoming years. The adoption of AI-powered parking solutions is likely to emerge as a key trend in the market in the future. However, infrastructure challenges hamper the market growth.
Parking Meter Apps Market Overview
Parking meter apps are mobile applications that allow users to locate, reserve, and pay for parking spaces digitally. They eliminate the need for physical meters or cash transactions. These apps offer real-time availability data, GPS-based navigation to parking spots, remote session extensions, expiration alerts, and seamless digital payments through credit cards or mobile wallets. The shift toward cashless and contactless payments, accelerated by the COVID-19 pandemic, has made digital parking solutions more appealing to users and municipalities. The global push toward smart city infrastructure has encouraged public and private investments in IoT-enabled parking systems, many of which rely on mobile app integration. Government initiatives to reduce traffic congestion and carbon emissions favor mobile-managed parking, as it reduces the time vehicles spend idling while searching for parking. The integration of parking apps with navigation and payment platforms expands the market’s potential. As consumer expectations for convenience and real-time services grow, parking meter apps are positioned as essential tools in urban mobility ecosystems.
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Parking Meter Apps Market: Strategic Insights
Market Size Value in US$ 62.2 million in 2021 Market Size Value by US$ 234.2 million by 2028 Growth rate CAGR of 18.7% from 2021 to 2028 Forecast Period 2021-2028 Base Year 2021
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Parking Meter Apps Market: Strategic Insights
| Market Size Value in | US$ 62.2 million in 2021 |
| Market Size Value by | US$ 234.2 million by 2028 |
| Growth rate | CAGR of 18.7% from 2021 to 2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
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Parking Meter Apps Market Drivers and Opportunities
Increasing Penetration of Smartphones
The rapid proliferation of smartphones worldwide is transforming how people interact with digital services, driving significant shifts across multiple industries. The parking solutions sector has experienced profound changes as consumers increasingly rely on mobile technology to enhance convenience and efficiency.
According to the GSMA’s 2023 State of Mobile Internet Connectivity Report (SOMIC), on October 11, 2023, over half of the global population, approximately 4.3 billion individuals, owned a smartphone. This widespread smartphone adoption influences consumer behavior, increasing awareness and utilization of mobile internet services across diverse applications. Nearly 4 billion people access the internet via smartphones, representing ~49% of the world’s population. This access makes mobile technology beneficial for digital engagement. As smartphone penetration expands, users seek convenient, real-time solutions to urban challenges such as parking. The accessibility of mobile internet enables seamless adoption of app-based parking meters. It allows drivers to locate, reserve, and pay for parking spaces efficiently. The rising familiarity with mobile applications is facilitating greater acceptance of digital payment methods and smart parking innovations.
The growing urban population is intensifying the demand for efficient parking solutions, making mobile technology crucial for delivering smarter, more accessible parking experiences. Advances in mobile connectivity and smartphones are set to boost adoption and innovation in parking meter apps globally.
Rising Urbanization & Smart City Initiatives
According to projections by the United Nations, nearly 68% of the global population is expected to reside in urban areas by 2050. This mass migration from rural to urban environments is already well underway in major economies. China’s urbanization rate rose from just 11% in 1949 to 66% in 2023. This rapid urban growth has intensified demand for smarter, more sustainable urban infrastructure, including intelligent mobility and parking management systems.
In India, where urbanization is closely linked to large-scale infrastructure initiatives, the government is shaping the future of smart cities. On August 28, 2024, the Cabinet Committee on Economic Affairs (CCEA) was chaired by Prime Minister Narendra Modi. It approved 12 new smart city projects under the National Industrial Corridor Development Programme (NICDP). With a committed investment of INR 286.02 billion (approximately US$3.41 billion), these projects are designed to catalyze urban transformation. They are expected to attract an additional INR 1.52 trillion (US$18.12 billion) from large-scale industries and micro, small, and medium enterprises (MSMEs). Parking meter apps stand to benefit from these developments. As urban centers expand and modernize, the need for efficient parking solutions becomes more acute. Digital parking applications play a vital role in reducing traffic congestion, enhancing user convenience, and optimizing the use of urban space. The integration of these apps into urban mobility ecosystems supports real-time parking availability, cashless transactions, and data-driven traffic management. Smart city initiatives often include mandates for digital infrastructure and mobility innovation. They make parking meter apps a natural fit for public-private partnerships and municipal smart mobility strategies. Thus, the global trend toward urbanization, when coupled with large-scale investments in smart city development, is expected to create a growth opportunity for the market in the future.
Parking Meter Apps Market Report Segmentation Analysis
Key segments that contributed to the derivation of the parking meter apps market analysis are platform and end user.
- By platform, the market is divided into Android and iOS. The Android segment dominated the market in 2024.
- Based on end user, the market is divided into personal and business.. The personal segment dominated the market in 2024.
Parking Meter Apps Market Share Analysis by Geography
- The parking meter apps market is segmented into five major regions: North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. North America dominated the parking meter apps market in 2024. Europe is the second-largest contributor to the global parking meter apps market, followed by Asia Pacific.
- The parking meter apps market in North America is categorized into the US, Canada, and Mexico. Widespread smartphone penetration, smart city initiatives, and strong public-private partnerships drive the growth of the North America parking meter apps market. The US and Canada lead the region. Cities such as New York, San Francisco, Toronto, and Chicago are adopting digital parking systems to streamline operations and reduce congestion. Mobile apps such as ParkMobile, PayByPhone, ParkWhiz, and SpotHero offer features such as contactless payments, real-time space tracking, and advanced booking. Government support through smart mobility programs and municipal digitization budgets has spurred the adoption of app-based parking. The region benefits from partnerships between municipalities and private companies, as seen in ParkMobile’s integration into city planning and transit systems. The user demand for convenience and minimal physical contact, especially post-pandemic, drives market expansion. The presence of organizations such as the International Parking & Mobility Institute (IPMI) fosters innovation and best practice sharing, strengthening the regional ecosystem.
Parking Meter Apps Market Report Scope
Parking Meter Apps Market News and Recent Developments
The parking meter apps market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. Key developments in the parking meter apps market are listed below:
- Kalibrate, a location analytics firm, announced an enterprise-wide partnership with INRIX, Inc., a provider of mobility data and analytics for cities, road authorities, and businesses. This move underscores Kalibrate’s commitment to using connected device data to support its location-based consulting services and its platform, Kalibrate Location Intelligence (KLI). With data from vehicles, mobile devices, multimodal systems, parking services, etc, INRIX helps businesses and cities monitor, measure, and manage how people and goods move throughout the day. This partnership enables Kalibrate to leverage the power of INRIX data more broadly, streamlining the process of selecting optimal business locations with efficiency, cost-effectiveness, and accuracy.
(Source: Kalibrate, Press Release, January 2024)
- EasyPark Group, a provider of digital parking and mobility solutions, unveiled a new name and identity to better align with the company’s vision to make cities more livable. Arrive, the new company name, will replace EasyPark Group and Flowbird Group. It will be the overarching parent company for the consumer brands EasyPark, Flowbird, ParkMobile, Parkopedia, RingGo, Yellowbrick, Your Parking Space, and other brands within the organization.
(Source: EasyPark Group, Press Release, January 2025)
Parking Meter Apps Market Report Coverage and Deliverables
The "Parking Meter Apps Market Size and Forecast (2021–2031)" provides a detailed analysis of the market covering the areas mentioned below:
- Parking meter apps market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Parking meter apps market trends, as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST and SWOT analysis
- Parking meter apps market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the parking meter apps market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Platform, and End User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
The market is anticipated to expand at a CAGR of 16.1% during 2025-2031.
Increasing penetration of smartphones and surging number of vehicles are driving the market growth.
AI-powered parking solutions is one of the key trends in the market.
SpotHero, JustPark, Arrive, PayByPhone, and ParkWhiz are the major players in the market.
The market is expected to reach a value of US$ 450.01 million by 2031.
The List of Companies - Parking Meter Apps Market
- 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
- Pango
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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