The Middle East smart parking market is witnessing dynamic growth owing to increase in modern technology services, rise in recognition concerning setting and web traffic safety and security in digital utilization, and cutting-edge technologies in the vehicle industry. There are numerous aspects driving the growth of the Middle East smart parking market. These include increase in public & exclusive financial investments in smart transportation infrastructure, innovation in cordless communication technologies, government efforts in the electronic, Internet of Thing (IoT), domain name, rise in public & personal car park, and surge in adoption of connection services among end users.
In technical boosted protection & privacy issues, high expenses related to electronic facilities, and high car parking services are key factors driving the growth of the Middle East smart parking market. In addition, non-availability of 5G network in some regions and limited awareness about electronic vehicle parking solutions among end users are another key factor driving the market growth.
In addition, increase of connected innovations in smart parking and adoption of cloud computer solutions are transforming the Middle East smart parking market. The expanding self-governing cars have boosted the requirement for innovative smart parking options. Governments are motivating smart transportation such as smart city advancement. In addition, the efforts to encourage digital repayments have boosted the smart settlement solutions in the Middle East smart parking market.
In addition, numerous regions require smart parking options in the Middle East. The existence of rigid regulations in the area, such as solar panels of eco-friendly building laws, are anticipated to drive the Middle East smart parking market. Further, rise in 5G networks has resulted in adoption of smart parking options powered by the Internet of Things (IoT). With rise in demand for smart parking solutions in the Middle East, companies on releasing innovative products in the area. Qurasense, Park Bahrain, Smart Parkz, SpotOn Parking Solutions, Parking Networks, Beema, VINCI Park, ParkMe, ParkAssist, and Mphasis Smart Parking Solutions are key the Middle East smart parking market. These companies have strategies such as product & service launches, procurements, service developments, in recent make a mark in the Middle East smart parking market Furthermore, there are companies such as Copart, ParkApp, ParkMyCloud, ParkBot, and VAppd that are market with innovative solutions.
The companies are concentrating on brand-new products and services to boost their presence as prominent players in the Middle East smart parking market. For instance, Copart launched its smart settlement service for parking located in government entities. Likewise, VINCI Park introduced its Park 'N Go mobile application, which enables end users to access real-time information relating to car parking areas near their location. In addition, companies are concentrating on research study & growth to boost their product or services portfolio. They are focused on boosting their visibility on the market through partnerships. For instance, in 2020, VINCI Park obtained ParkNow, a US-based carrier of on-street as well as off-street parking solutions, to reinforce its existence in the market.
Furthermore, companies are concentrating on the cost of their products to raise their consumer base. The rate of moderate in the Middle East, owing to visibility of several players in Middle East smart. The demand for smart parking solutions is expected to rise in the coming years, owing regarding the comfort used by such Companies are anticipated to focus on innovative advertising and marketing end the region. Furthermore, companies are expected to concentrate on developing brand-new methods to assist their services in the area.
Key benefits for Stakeholders
The study assesses and ranks the top factors that are expected to impact the growth of the Middle East smart parking market.
The report highlights the market analysis based on current trends and future estimations.
It analyzes the key strategies adopted by major market players in the Middle East smart parking market.
It Identifies the top investment pockets in the market.
Top player positioning provides a clear understanding of the present position of market players.
Detailed analysis of the Middle East smart parking market segmentation assists to determine the prevailing market opportunities.
Middle East Smart Parking Market Report Highlights
| Aspects | Details |
 Forecast period | 2022 - 2032 |
 Report Pages | 77 |
 By Type |
|
 By Technology |
|
 By Application |
|
 By End User |
|
 Key Market Players | ParkMe, VINCI Park, SpotOn Parking Solutions, Mphasis Smart Parking Solutions, Qurasense, Smart Parkz, Beema, Parking Networks, Park Bahrain, ParkAssist |
The Middle East Smart Parking Market is projected to grow at a CAGR of 18.44% from 2022 to 2032
Qurasense, Park Bahrain, Smart Parkz, SpotOn Parking Solutions, Parking Networks, Beema, VINCI Park, ParkMe, ParkAssist, Mphasis Smart Parking Solutions are the leading players in Middle East Smart Parking Market
1. Enable informed decision-making process and offer market analysis based on current market situation and estimated future trends.
2. Analyze the key strategies adopted by major market players in middle east smart parking market.
3. Assess and rank the top factors that are expected to affect the growth of middle east smart parking market.
4. Top Player positioning provides a clear understanding of the present position of market players.
5. Detailed analysis of the middle east smart parking market segmentation assists to determine the prevailing market opportunities.
6. Identify key investment pockets for various offerings in the market.
Middle East Smart Parking Market is classified as by type, by technology, by application, by end user
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