UAE Car Parking System Market Growth, Size, Trends, Demand, Revenue, Share and Future Outlook: SPER Market Research

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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.

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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:

By Component:	Electronic Control Unit (ECU) Parking Sensors Steering Angle Sensors
By Sensor Technology:	Image Sensor Radar Sensor Ultrasonic Sensor
By System:	Guided Park Assist Smart Park Assist
By Solution:	License Plate Recognition Parking Reservation Management Security & Surveillance Valet Parking Management
By Vertical:	Government Commercial

Key Topics Covered in the Report:

UAE Car Parking System Market Size (FYâ€™2024-FYâ€™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 (FYâ€™2024-FYâ€™2033)
Recommendations from Analyst

1. Introduction

1.1. Scope of the report
1.2. Market segment analysis

2. Research Methodology

2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPERâ€™s internal database
2.1.4. Premium insight from KOLâ€™s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation

3. Executive Summary

4. Market Dynamics

4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the UAE Car Parking System Market

5. Market variable and outlook

5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTERâ€™s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis

6. Competitive Landscape

6.1. UAE Car Parking System Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. 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, 2024-2033
7.2. Display Unit
7.3. Electronic Control Unit (ECU)
7.4. Parking Sensors
7.5. 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, 2024-2033
8.2. Image Sensor
8.3. Radar Sensor
8.4. 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, 2024-2033
9.2. Guided Park Assist
9.3. 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, 2024-2033
10.2. License Plate Recognition
10.3. Parking Reservation Management
10.4. Security & Surveillance
10.5. 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, 2024-2033
11.2. Government
11.3. 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 Dhabi
18.4. Dubai
18.5. Sharjah

18.6. Rest of UAE

19. Company Profile

19.1. Ajman Smart Parking Management LLC
19.1.1. Company details
19.1.2. Financial outlook
19.1.3. Product summary
19.1.4. Recent developments
19.2. Mawaqif Parking LLC
19.2.1. Company details
19.2.2. Financial outlook
19.2.3. Product summary
19.2.4. Recent developments
19.3. Parkme Middle East LLC
19.3.1. Company details
19.3.2. Financial outlook
19.3.3. Product summary
19.3.4. Recent developments
19.4. Ras Al Khaimah Smart Parking LLC
19.4.1. Company details
19.4.2. Financial outlook
19.4.3. Product summary
19.4.4. Recent developments
19.5. Serco Middle East LLC
19.5.1. Company details
19.5.2. Financial outlook
19.5.3. Product summary
19.5.4. Recent developments
19.6. Sharjah Smart Parking LLC
19.6.1. Company details
19.6.2. Financial outlook
19.6.3. Product summary
19.6.4. Recent developments
19.7. Smart City Solutions LLC
19.7.1. Company details
19.7.2. Financial outlook
19.7.3. Product summary
19.7.4. Recent developments
19.8. Smart Parking Solutions LLC
19.8.1. Company details
19.8.2. Financial outlook
19.8.3. Product summary
19.8.4. Recent developments
19.9. Transguard Group LLC
19.9.1. Company details
19.9.2. Financial outlook
19.9.3. Product summary
19.9.4. Recent developments
19.10. Yunex Traffic Systems Middle East LLC
19.10.1. Company details
19.10.2. Financial outlook
19.10.3. Product summary
19.10.4. Recent developments
19.11. 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.

SPER-Methodology-1

SPER-Methodology-2

SPER-Methodology-3

Frequently Asked Questions About This Report

How big is the UAE Car Parking System Market?

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.

What is the growth rate of the UAE Car Parking System Market?

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.

What is the anticipated CAGR of the UAE Car Parking System Market?

UAE Car Parking System Market CAGR of 18.2% during the forecast period.

How can I get a sample report on the UAE Car Parking System Market?

You can get the sample pages by clicking the link - Click Here

What is the market size of the UAE Car Parking System Market?

UAE Car Parking System Market size is XX Billion from 2024 to 2033.

Which segment is expected to UAE Car Parking System Market?

UAE Car Parking System Market Segment is covered By Component, By Sensor Technology, By System, By Solution, By Vertical.

Which region is expected to have the highest market share in the UAE Car Parking System Market?

The Middle East is anticipated to have the highest market share in the UAE Car Parking System Market.

Who are the key players in 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.

What is the conclusion of the UAE Car Parking System Market?

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.