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Automated Parking Systems Market expected to reach USD 4.31 Billion by 2025 with the CAGR of 13.28%

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Automated Parking Systems Market expected to reach USD 4.31 Billion by 2025 with the CAGR of 13.28%

September 17
04:45 2020

Automated Parking Systems Market is valued at USD 1.80 Billion in 2018 and expected to reach USD 4.31 Billion by 2025 with the CAGR of 13.28% over the forecast period.

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Increasing inclination of the customers and real estate investors towards the reduction of parking spaces is expected to drive the growth of Global Automated Parking Systems Market.

Automated Parking Systems Market

Some of the key manufacturers operating in the Automated Parking Systems are,

  • Skyline Parking AG
  • Robotic Parking Systems
  • Unitronics
  • Dayang Parking Co. Ltd
  • Klaus Multi parking Systems
  • Eito & Global Inc
  • Dongyang Menics Co.
  • Ltd, Parkmatic TM
  • FATA Automation, Konnet

Automated parking system is designed to reduce the area of parking spaces by either fully automated or semi-automated features. This system is used in residential complexes and commercial sectors to help in saving space in highly crowded parking areas. Automated car parks provide some exciting applications with minimal effort, convenience for the customers and ability to save money by making the better use of space. Car parking system often has a direct effect on the feasibility of a real estate and commercial projects. The designing of automated parking systems can help to derive the profitability by enabling parking to be located in areas where conventional parking would not provide flexibility. This system usually utilize advanced robotic technology for parking the vehicles and retrieve cars inside a secure garage. This type of systems not only saves overall time, space and money but also useful in moving the vehicles from one level to the other through well protected and secured auto lifts.  

Global automated parking systems market report is segmented on basis of mode of automation, technology, end-use, system and regional & country level. Based upon mode of automation, global automated parking systems market is segmented into semi-automated parking system and fully automated parking system. On the basis of technology, the market is classified into sensor technology, mobile technology and RFID technology. Furthermore, based upon end-use, global automated parking systems market is segmented into residential, commercial, service & solution integrated payments, vehicle detection solutions, space reservation services and monitoring & reporting services. Based upon system, global automated parking systems market is segmented into software and hardware.

The regions covered in this Global Automated Parking Systems Market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of global automated parking systems market is sub divided into U.S., Mexico, Canada, UK, France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.

Some major key players for global automated parking systems market are Skyline Parking AG, Robotic Parking Systems, Unitronics, Dayang Parking Co. Ltd, Klaus Multi parking Systems, Eito & Global Inc, Dongyang Menics Co., Ltd, Parkmatic TM, FATA Automation, Konnet, MHE Demag (S) Pte Ltd, Boomerang Systems, ParkPlus, Serva, Yeefung Industry Equipment(Shenzhen)Co., Ltd, SKIDATA, Park Assist, Fen Sense and others.

Increasing Vehicle Sales Globally, Increasing the Demand for Adding More Parking Spaces is Anticipated to Drive the Market Growth. 

Automated Parking Systems Market has witnessed a lucrative growth in past few years and expeceted to continue the same within the forecast period owing to the rapid increase in population throughout the worldwide leads to increase the demand for vehicles, due to which it is very difficult to manage the spaces in both commercial and residential zones. This has enabled the high acceptance of automated parking systems to support the increasing necessity for more parking spaces, where it would not possible back with the conventional parking system. Additionally, automated parking systems require area about 70% smaller and 50% smaller volume to park the number of cars inside the parking zone as compared to conventional parking facilities. Furthermore, parking operators from the emerging countries are increasingly finding the solutions with enhanced technological solutions which in turn increase the demand for automated parking systems.  However, maintaining these automated systems can be expensive, it may be component repair cost when it will breakdown which acts as a major barrier for the growth of this market.

North America is Expected to Dominate the Global Automated Parking Systems Market.

North America holds the largest share in the global automated parking systems market and is expected to dominate during forecast period. This growth is majorly attributed to the massive increase in the number of cars from the North American countries especially from the USA, real estate investors and manufacturers reconsider the significance of automated parking systems that would highly feasible for the requirements of more parking spaces. For example, Americans have spent around 17 hours per year searching for parking and it has taken approximately USD 345.56 per driver by wasting fuel and time. Similarly, Asia pacific is expeceted to witness a rapid growth in this market owing to the rapid industrialization, thereby Asian cities are being popularly moved towards advanced systems such as automated parking system to simplify the parking issues.

Key Benefits for Market Report–

Global market report covers in depth historical and forecast analysis.

Global market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.

Global market report helps to identify opportunities in market place.

Global market report covers extensive analysis of emerging trends and competitive landscape.

Automated Parking Systems Market Segmentation:–

By Mode of Automation:- Semi-automated Parking System,Fully automated Parking System

By Technology:- Sensor Technology, Mobile Technology, RFID Technology

By End-Use:- Residential, Commercial, Service & Solution – Integrated Payments, Vehicle Detection Solutions, Space Reservation Services, Monitoring & Reporting Services

By System: –Software, Hardware

By Regional & Country Analysis

North America, US, Mexico, Chily, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, South Korea, Japan, India, Southeast Asia, Latin America, Brazil, The Middle East and Africa, GCC, Africa, Rest of Middle East and Africa

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