UAE Car Parking System Market Growth, Size, Trends, Demand, Revenue, Share and Future Outlook
UAE Car Parking System Market Size- By Component, By Sensor Technology, By System, By Solution, By Vertical- Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: Mar-2024 | Report ID: AMIN2484 | Pages: 1 - 103 | Formats*: |
| Category : Automotive & Transportation | |||
UAE Car Parking System Market Introduction and Overview
According to SPER Market Research, the UAE Car Parking System Market is estimated to reach USD XX Billion by 2033 with a CAGR of 18.2%.
The report includes an in-depth analysis of the UAE Car Parking System Market, including market size and trends, product mix, applications, and supplier analysis. A car parking system is defined as a mechanical device that increases parking capacity within a parking lot. These parking systems are powered by hydraulic pumps or electric motors that propel the vehicle into a storage position. There are three types of car parking systems: mechanical, semi-automatic, and automated.
- August 2023: In a significant development for the UAE's parking sector, Smart Parking Solutions and Parkme Middle East have merged to create the nation's largest smart parking company. This strategic union combines their strengths to innovate parking management and improve urban mobility in the UAE.
- June 2023: Yunex Traffic and Transguard Group formed a strategic partnership to enhance the UAE's smart parking sector. Their collaborative effort aims to revolutionize smart parking solutions in the country by deploying advanced technologies and creating a seamless parking ecosystem for residents and businesses.
Market Opportunities and Challenges
The UAE is witnessing a substantial urban transition, with the Smart Parking industry emerging as a critical component of this change. Rapid urbanisation, a growing population, and an increase in tourist traffic present issues for parking space management, particularly in places such as Dubai, Abu Dhabi, and Sharjah. To solve these difficulties, the UAE has adopted innovative smart parking systems as key components of its smart city vision, which aims to promote sustainable urban development and transportation. Government backing and investment have fueled the expansion of the Smart Parking market, with efforts that use technologies such as IoT sensors and real-time analytics to create a full parking ecosystem.
Furthermore, the UAE's hosting of significant international events, such as Dubai Expo 2020, has demonstrated the value of smart parking in successfully managing parking demand during large-scale gatherings, hence improving the country's global reputation and service delivery standards. The UAE Smart Parking market extends to smaller towns and communities, addressing unique parking challenges. Smart parking solutions bring benefits like reduced congestion and improved quality of life, showcasing the nation's commitment to inclusivity and technological advancement.
One significant challenge for the UAE Smart Parking market is integrating current smart parking infrastructure with existing legacy systems. The country's diversified parking facilities, which were established years ago, may lack the infrastructure to support current technologies such as IoT sensors and real-time analytics. Retrofitting old infrastructure is complicated and expensive, frequently necessitating large investments and generating inconveniences. Furthermore, multiple ownership structures and incompatible payment mechanisms impede the shift to smart parking. Users are concerned about the misuse of personal data, which adds to the challenges of adoption. Cybersecurity threats pose additional risks, necessitating collaboration with regulatory bodies to enforce data protection regulations and build comprehensive cybersecurity policies.
Market Competitive Landscape
The major key players in the UAE Car Parking System Market are: Ajman Smart Parking Management LLC, Mawaqif Parking LLC, Parkme Middle East LLC, Ras Al Khaimah Smart Parking LLC, Serco Middle East LLC, Sharjah Smart Parking LLC, Smart City Solutions LLC, Smart Parking Solutions LLC, Transguard Group LLC, Yunex Traffic Systems Middle East LLC, Others.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Component, By Sensor Technology, By System, By Solution, By Vertical |
| Regions covered | Abu Dhabi, Dubai, Sharjah, Rest of UAE |
| Companies Covered | Ajman Smart Parking Management LLC, Mawaqif Parking LLC, Parkme Middle East LLC, Ras Al Khaimah Smart Parking LLC, Serco Middle East LLC, Sharjah Smart Parking LLC, Smart City Solutions LLC, Smart Parking Solutions LLC, Transguard Group LLC, Yunex Traffic Systems Middle East LLC, Others |
COVID-19 Impact on UAE Car Parking System Market
The COVID-19 epidemic has caused a huge transformation in the UAE Smart Parking Systems Market. With social distancing measures and contactless transactions becoming increasingly important, the demand for smart parking solutions has grown. These systems have enabled touchless payments, real-time occupancy monitoring, and decreased physical engagement, making them critical in the post-pandemic era. The industry is likely to grow further as the demand for safer and more efficient parking solutions prevails.
Key Target Audience:
- Automotive manufacturers and dealerships
- Commercial and retail property owners
- Parking equipment manufacturers and suppliers
- Parking facility owners and operators
- Real estate developers and property management firms
- Technology providers and system integrators
- Transportation and logistics companies
- Urban planners and city development authorities
- Others
Our in-depth analysis of the UAE Car Parking System Market includes the following segments:
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Key Topics Covered in the Report:
- UAE Car Parking System Market Size (FY’2024-FY’2033)
- Overview of UAE Car Parking System Market
- Segmentation of UAE Car Parking System Market By Component (Display Unit, Electronic Control Unit, Parking Sensors, Steering Angle Sensors)
- Segmentation of UAE Car Parking System Market By Sensor Technology (Image Sensor, Radar Sensor, Ultrasonic Sensor)
- Segmentation of UAE Car Parking System Market By System (Guided Park Assist, Smart Park Assist)
- Segmentation of UAE Car Parking System Market By Solution (License Plate Recognition, Parking Reservation Management, Security & Surveillance, Valet Parking Management)
- Segmentation of UAE Car Parking System Market By Vertical (Government, Commercial)
- Statistical Snap of UAE Car Parking System Market
- Expansion Analysis of UAE Car Parking System Market
- Problems and Obstacles in UAE Car Parking System Market
- Competitive Landscape in the UAE Car Parking System Market
- Impact of COVID-19 and Demonetization on UAE Car Parking System Market
- Details on Current Investment in UAE Car Parking System Market
- Competitive Analysis of UAE Car Parking System Market
- Prominent Players in the UAE Car Parking System Market
- SWOT Analysis of UAE Car Parking System Market
- UAE Car Parking System Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. Premium insight from KOL’s2.2. Market size estimation2.2.1. Top-down and Bottom-up approach2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges4.2. COVID-19 Impacts of the UAE Car Parking System Market
5. Market variable and outlook
5.1. SWOT Analysis5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats5.2. PESTEL Analysis5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape5.3. PORTER’s Five Forces5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry5.4. Heat Map Analysis
6. Competitive Landscape
6.1. UAE Car Parking System Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in UAE Car Parking System Market
7. UAE Car Parking System Market, By Component (USD Million)
7.1. UAE Car Parking System Market Value Share and Forecast, By Component, 2024-20337.2. Display Unit7.3. Electronic Control Unit (ECU)7.4. Parking Sensors7.5. Steering Angle Sensors
8. UAE Car Parking System Market, By Sensor Technology (USD Million)
8.1. UAE Car Parking System Market Value Share and Forecast, By Sensor Technology, 2024-20338.2. Image Sensor8.3. Radar Sensor8.4. Ultrasonic Sensor
9. UAE Car Parking System Market, By System (USD Million)
9.1. UAE Car Parking System Market Value Share and Forecast, By System, 2024-20339.2. Guided Park Assist9.3. Smart Park Assist
10. UAE Car Parking System Market, By Solution (USD Million)
10.1. UAE Car Parking System Market Value Share and Forecast, By Solution, 2024-203310.2. License Plate Recognition10.3. Parking Reservation Management10.4. Security & Surveillance10.5. Valet Parking Management
11. UAE Car Parking System Market, By Vertical (USD Million)
11.1. UAE Car Parking System Market Value Share and Forecast, By Vertical, 2024-203311.2. Government11.3. Commercial
12. UAE Car Parking System Market Forecast, 2020-2033 (USD Million)
12.1. UAE Car Parking System Market Size and Market Share
13. UAE Car Parking System Market, By Component, 2020-2033 (USD Million)
13.1. UAE Car Parking System Market Size and Market Share By Component (2020-2026)13.2. UAE Car Parking System Market Size and Market Share By Component (2027-2033)
14. UAE Car Parking System Market, By Sensor Technology, 2020-2033 (USD Million)
14.1. UAE Car Parking System Market Size and Market Share By Sensor Technology (2020-2026)14.2. UAE Car Parking System Market Size and Market Share By Sensor Technology (2027-2033)
15. UAE Car Parking System Market, By System, 2020-2033 (USD Million)
15.1. UAE Car Parking System Market Size and Market Share By System (2020-2026)15.2. UAE Car Parking System Market Size and Market Share By System (2027-2033)
16. UAE Car Parking System Market, By Solution, 2020-2033 (USD Million)
16.1. UAE Car Parking System Market Size and Market Share By Solution (2020-2026)16.2. UAE Car Parking System Market Size and Market Share By Solution (2027-2033)
17. UAE Car Parking System Market, By Vertical, 2020-2033 (USD Million)
17.1. UAE Car Parking System Market Size and Market Share By Vertical (2020-2026)17.2. UAE Car Parking System Market Size and Market Share By Vertical (2027-2033)
18. UAE Car Parking System Market, By Region, 2020-2033 (USD Million)
18.1. UAE Car Parking System Market Size and Market Share By Region (2020-2026)18.2. UAE Car Parking System Market Size and Market Share By Region (2027-2033)18.3. Abu Dhabi18.4. Dubai18.5. Sharjah
18.6. Rest of UAE
19. Company Profile
19.1. Ajman Smart Parking Management LLC19.1.1. Company details19.1.2. Financial outlook19.1.3. Product summary19.1.4. Recent developments19.2. Mawaqif Parking LLC19.2.1. Company details19.2.2. Financial outlook19.2.3. Product summary19.2.4. Recent developments19.3. Parkme Middle East LLC19.3.1. Company details19.3.2. Financial outlook19.3.3. Product summary19.3.4. Recent developments19.4. Ras Al Khaimah Smart Parking LLC19.4.1. Company details19.4.2. Financial outlook19.4.3. Product summary19.4.4. Recent developments19.5. Serco Middle East LLC19.5.1. Company details19.5.2. Financial outlook19.5.3. Product summary19.5.4. Recent developments19.6. Sharjah Smart Parking LLC19.6.1. Company details19.6.2. Financial outlook19.6.3. Product summary19.6.4. Recent developments19.7. Smart City Solutions LLC19.7.1. Company details19.7.2. Financial outlook19.7.3. Product summary19.7.4. Recent developments19.8. Smart Parking Solutions LLC19.8.1. Company details19.8.2. Financial outlook19.8.3. Product summary19.8.4. Recent developments19.9. Transguard Group LLC19.9.1. Company details19.9.2. Financial outlook19.9.3. Product summary19.9.4. Recent developments19.10. Yunex Traffic Systems Middle East LLC19.10.1. Company details19.10.2. Financial outlook19.10.3. Product summary19.10.4. Recent developments19.11. Others
20. List of Abbreviations
21. Reference Links
22. Conclusion
23. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
UAE Car Parking System Market is projected to reach USD XX Billion by 2033, growing at a CAGR of 18.2% during the forecast period.
UAE Car Parking System Market size from 2022. The Market is expected to reach USD XX Billion by 2033, at a CAGR of 18.2% during the forecast period.
UAE Car Parking System Market CAGR of 18.2% during the forecast period.
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UAE Car Parking System Market size is XX Billion from 2024 to 2033.
UAE Car Parking System Market Segment is covered By Component, By Sensor Technology, By System, By Solution, By Vertical.
The Middle East is anticipated to have the highest market share in the UAE Car Parking System Market.
The key players in the market include Companies Covered Ajman Smart Parking Management LLC, Mawaqif Parking LLC, Parkme Middle East LLC, Ras Al Khaimah Smart Parking LLC, Serco Middle East LLC, Sharjah Smart Parking LLC, Smart City Solutions LLC, Smart Parking Solutions LLC, Transguard Group LLC, Yunex Traffic Systems Middle East LLC, Others.
These parking systems are powered by hydraulic pumps or electric motors that propel the vehicle into a storage position. There are three types of car parking systems: mechanical, semi-automatic, and automated.
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