Automated Parking System Market Analysis, Growth Opportunities and Demand by 2031

Global Automated Parking System Market report from Global Insight Services is the single authoritative source of intelligence on Automated Parking System Market. The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters’ and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.

An Automated Parking System (APS) is a parking facility where the parking and retrieval of vehicles is fully automated. APSs are designed to minimize the amount of time and effort required to park and retrieve a vehicle. They are often used in conjunction with other automated systems, such as electronic toll collection (ETC) and electronic vehicle registration (EVR).

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Key Trends

Some of the key trends in automated parking system technology include the following:

1. Increased use of robotics: Robotics are increasingly being used in automated parking systems in order to improve efficiency and accuracy.

2. Improved sensors and software: Sensors and software continue to evolve and become more sophisticated, allowing for more accurate and efficient parking.

3. Connectivity: Automated parking systems are increasingly being connected to other systems, such as building management systems, to improve overall efficiency.

4. Big data: Automated parking systems generate a lot of data that can be used to improve operations and optimize performance.

Key Drivers

The key drivers of the Automated Parking System market are the increasing need for efficient parking management and the growing demand for smart city solutions.

The increasing need for efficient parking management is one of the key drivers of the Automated Parking System market. The growing number of vehicles and the limited availability of parking space are the major challenges faced by the parking industry.

The growing demand for smart city solutions is another key driver of the Automated Parking System market. Smart city solutions help in reducing traffic congestion and pollution, and improve the quality of life of the citizens. Automated parking systems are one of the key components of smart city solutions.

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Market Segments

The Automated Parking System Market is segmented by automation level, end-user, system and region. By automation level, the market is divided into semi-automated and fully-automated. Based on end-user, it is segmented into commercial, residential and mixed-use. On the basis of system, it is bifurcated into hardware and software. Region-wise the market is divided into North America, Europe, Asia-Pacific, and the Rest of the World.

Key Players

The Automated Parking System Market includes players such as Skyline Parking AG, Westfalia Parking, Unitronics (1989) (R”G) Ltd., Klaus Multiparking GmbH, Robotic Parking Systems, Inc., City Lift Parking, LLC, Park Plus Inc., Wohr Parking System Pvt. Ltd., Parkmatic and AutoMotion Parking Systems.

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