Automated Parking Systems Market Growth or Demand Increase or Decrease for what contains?
The Automated Parking Systems (APS) Market is experiencing significant growth driven by several key factors. Increasing urbanization and the resultant scarcity of parking space in densely populated areas are major contributors to the demand for automated parking solutions. These systems offer efficient use of available space, reduce the time spent searching for parking, and enhance overall convenience for users. Additionally, the rising emphasis on smart city developments and technological advancements in automation and robotics are propelling the market forward. Automated parking systems provide benefits such as increased parking capacity, reduced land usage, and improved safety compared to traditional parking methods. The growing adoption of electric and autonomous vehicles is also fueling the demand for APS, as these vehicles often integrate seamlessly with automated systems. Moreover, the potential for cost savings in real estate and operational efficiencies further supports market growth. Overall, the automated parking systems market is expanding as cities and developers seek innovative solutions to address parking challenges and improve urban infrastructure.
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Automated Parking Systems Market CAGR Estimation:
Automated Parking Systems Market size was valued at US$ 1.82 Bn. in 2023 and the total revenue is expected to grow at 15.2% of CAGR through 2024 to 2030, reaching nearly US$ 4.90 Bn.
Automated Parking Systems Market Segmentation:
by Automation Level
Semi-automated
Fully-automated
In 2023, the fully automated segment had the highest revenue share, accounting for nearly % CAGR. One kind of automated parking system that resembles robotic valet parking is a completely automated system. The car must be driven by the driver until it reaches the APS entry area. All passengers and the driver must get out of the vehicle. The ticket is given to the driver once they pay at a nearby automated terminal.
by Platform Type
Palleted
Non-palleted
By CAGR in 2023, the palletized segment led the market for automated parking systems. These techniques facilitate easier mobility of vehicles inside the parking area since cars cannot be lifted or moved without the driver. These parking options are anticipated to rise in the future as more individuals choose to work from home since they increase vehicle security, enhance the urban environment, and offer higher parking densities than traditional parking lots. Because these solutions don't call for accommodations the size of cars, transportation procedures become simpler.
by Component
Handwear
Software
Based on components, the market for automated parking systems is split into hardware and software categories. The hardware category, which comprises pucks, cameras & LPRs, smart meters, signs, and parking gates, dominates the market for smart parking systems. On-street parking commonly makes use of smart meters and cameras. The increasing demand for on-street parking in cities has resulted in a broad adoption of hardware. Since most people leave their cars parked for several hours, governments are installing more equipment and cameras on the road to manage traffic flow, which is driving up the popularity of smart parking systems. A fresh example of how Sony's IMX500 sensors—which are backed by AI processing—are at the core of three "smart city" trials in Rome, Italy was unveiled by the company in July 2022.
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Automated Parking Systems Market Overview:
The Maximize Market Research report assists clients in gaining a comprehensive understanding of the competitive landscape, serving as a valuable resource for strategic planning purposes. The comprehensive Automated Parking Systems market overview furnishes extensive information regarding market size, trade statistics, prominent participants, and a range of market indicators, encompassing aspects such as life cycle, prevailing trends, and more.
Automated Parking Systems Market Growth or Demand in which regions??
The Automated Parking Systems (APS) Market is experiencing notable growth across several key regions, each driven by specific factors. In North America, particularly in the United States and Canada, the market is expanding due to increasing urbanization, high real estate costs, and the adoption of smart city technologies. Major cities with significant parking challenges are investing in APS to enhance convenience and optimize space usage. In Europe, countries such as Germany, France, and the UK are witnessing increased demand for automated parking solutions driven by stringent environmental regulations, high-density urban areas, and a focus on innovative infrastructure solutions. The Asia-Pacific region, including China, Japan, and South Korea, is seeing rapid growth due to rapid urbanization, increasing vehicle ownership, and government initiatives promoting smart city development. Additionally, the region’s growing middle class and investment in modern infrastructure are contributing to market expansion. Overall, the global APS market is growing as these regions adopt automated systems to address parking challenges, improve urban mobility, and support smart city initiatives.
Automated Parking Systems Market Scope & Methodology:
The competitive landscape of the Automated Parking Systems market encompasses aspects like technology adoption, financial strength, portfolio, mergers and acquisitions, joint ventures, and strategic alliances. A comprehensive report delves into the drivers, limitations, opportunities, and challenges inherent in the Automated Parking Systems market. The report employed a bottom-up approach to ascertain Automated Parking Systems market estimations and growth rates.
To gain insights into Automated Parking Systems market penetration, pricing dynamics, demand analysis, and competitive panorama, the report executed regional analysis at local, regional, and global levels. Essential details about the Automated Parking Systems market, including stakeholders, investors, and new entrants, are presented to facilitate the development of marketing strategies and investment plans.
Both primary and secondary data gathering techniques were employed for the Automated Parking Systems Market. Primary approaches involved surveys, questionnaires, and interviews with industry leaders and business proprietors, while secondary data encompassed sources like press releases, annual and financial reports, white papers, etc. SWOT analysis was leveraged to pinpoint market vulnerabilities and weaknesses, while the PORTER framework was applied to gauge industry competitiveness within the Automated Parking Systems Market.
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Automated Parking Systems Market Key Players:
1. Parkmatic (US)
2. Robotic Parking Systems, Inc. (US)
3. AutoMotion Parking Systems (US)
4. CityLift (US)
5. DESIGNA (US)
6. Parking Systems (US)
7. FATA Automation (US)
8. Park Plus Inc. (US)
9. T2 Systems Inc. (US)
10.U-Tron (US)
11.Parkmatic (US)
12.Klaus Multiparking GmbH (Germany)
13.Cleverciti Systems GmbH (Germany)
14.Westfalia (Germany)
15.Wohr (Germany)
16.SKIDATA GmbH (Germany)
17.Palisa Automatic Parking GmbH & Co. KG (Germany)
18.Skyline Parking AG (Switzerland)
19.Dayand Parking Co., Ltd. (China)
20.Eito & Global Inc. (Japan)
21.Amano Corporation (Japan)
22.Unitronics (Israel)
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Key questions answered in the Automated Parking Systems Market are:
- What is Automated Parking Systems?
- What is the growth rate of the Automated Parking Systems Market?
- Which are the factors expected to drive the Automated Parking Systems market growth?
- What are the different segments of the Automated Parking Systems Market?
- What are the factors restraining the growth of the Automated Parking Systems Market?
- What is the demand pattern of the Automated Parking Systems Market?
- What major challenges could the Automated Parking Systems Market face in the future?
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- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
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