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Automated Parking System Market

Automated Parking System Market Size, Share and Segmentation by Automation level (Semi-automated, Fully automated), by System type (Hardware, Software), by End-user (Commercial, Residential, Mixed-use), by Design Model (Hydraulic, Electro-mechanical), by Platform type (Palleted, Non-palleted), by Parking level (Less than level 5, Level 5- level 10, More than level 15), by Regions and Global Market Forecast 2022-2028

Report Id: SNS/AUTO/1018 | May 2022 | Region: Global | 130 Pages

Report Scope & Overview:

Automated Parking System Market Size was valued at USD 1.56 billion in 2021 and is expected to reach USD 3.58 billion by 2028, and grow at a CAGR of 14.19% over the forecast period 2022-2028.

The growing number of automobiles, scarcity of parking land, rising urbanization, growing need for green & sustainable parking solutions, rising demand for luxury buildings, and government smart city efforts are the main market drivers.

Automated Parking System Market Revenue Graph

The Automated Parking System manages parking in order to reduce the amount of space needed for parking. The Automated Parking Mechanism is a system that reduces the amount of parking space necessary. The Automated Parking System is utilized to develop multi-story parking systems that enhance the number of parking places while using less land. Parking structures that stack cars vertically to save space are known as automatic parking systems (APS). These one-of-a-kind devices are designed to move vehicles from the entrance to their parking location without the driver present.

Despite the rising need for automated parking solutions in a variety of places, the initial investment required to establish parking systems is substantial. The large capital investment required to build such systems may limit market expansion to some extent. This is due to the great frequency of automotive parking on the highways as well as the big population. The Automated Parking Systems Market has a bright future ahead of it.

MARKET DYNAMICS: 

KEY DRIVERS: 

  •  The govt. entities are reducing emissions. The industry has shifted its focus to eco-friendly product development.

  • The time spent looking for a parking spot waste contributes to pollution, and can be avoided by using an automated parking system.

  • The efficiency of an automated parking system improves, allowing more vehicles to be parked in less area.

RESTRAINTS: 

  • The installation of an automated parking system is difficult and requires careful consideration of a variety of elements.

  • When establishing an automatic parking system, another key consideration is safety.

  • In the absence of laws to monitor the performance of the system, quality control is a difficulty for manufacturers.

OPPORTUNITIES: 

  • The global movement to construct smart cities has had a considerable impact on the evolution of metropolitan regions.

  • Smart city efforts implemented by govt. throughout the world have produced commercial prospects.

  • Many countries are introducing parking meters that adjust fees based on location, saving time & fuel for drivers.       

CHALLENGES: 

  • An automated parking system is more efficient but the construction costs are significant at first.

  • Several companies do not appreciate automated parking systems due to the large costs involved.

  • Depending on how many parking spots are being created, the cost of implementing per space varies substantially

IMPACT OF COVID-19:

The COVID 19 epidemic has had a long-term influence on urban mobility, affecting businesses across industries. The car's sales in quarantine zones were completely halted. This pandemic has had an impact on the auto parking industry as well. The need for parking systems has dropped dramatically. Because of the lockdowns and the fear of spreading the illness, commute times have been reduced. Because the pandemic has affected all modes of transportation, including public and private vehicles, the automated parking industry is expected to decline in 2020.

KEY PLAYERS:

A few global players dominate the automated parking system industry, which also includes many regional players. Wohr (Germany), Boomerang Systems, Klaus Multi Parking (Germany), FATA Automation, AJ Automated Parking System, CityLift (US), Mitsubishi Electric Corporation, Westfalia (Germany), Expert Parking, TAPS, Robotic Parking Systems Inc. (US), and Unitronics are some of the major players in the market.

MARKET SEGMENTATION:

By Automation level:

  • Semi-automated

  • Fully automated

By System type:

  • Hardware

  • Software

By End-user:

  • Commercial

  • Residential

  • Mixed-use

By Design Model:

  • Hydraulic

  • Electro-mechanical

By Platform type:

  • Palleted

  • Non-palleted

By Parking level:

  • Less than level 5

  • Level 5- Level 10

  • More than level 15

Automated Parking System Market Segment Chart

REGIONAL ANALYSIS:

Because of the widespread implementation of automation technologies in the region, North America is predicted to have a significant market share and grow at a rapid rate. Also, in order to establish a good system and control parking space for large on-road fleets in countries like the United States, the use of Automotive Parking Systems is projected to increase in the region.

Countries such as Japan and China are predicted to emerge as industry leaders in East Asia, with sales of automated parking systems expected to increase in the region. With consumers preferring to use automated parking systems to avoid the time-consuming and inconvenient procedure of parking, Europe is projected to see good growth in the industry.

REGIONAL COVERAGE:

  • North America

    • USA

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

    • The Netherlands

    • Rest of Europe

  • Asia-Pacific

    • Japan

    • south Korea

    • China

    • India

    • Australia

    • Rest of Asia-Pacific

  • The Middle East & Africa

    • Israel

    • UAE

    • South Africa

    • Rest of Middle East & Africa

  • Latin America

    • Brazil

    • Argentina

    • Rest of Latin America

Automated Parking System Market Report Scope:
Report Attributes Details
 Market Size in 2021  US$ 1.56 Bn
 Market Size by 2028  US$ 3.58 Bn
 CAGR  CAGR of 14.19% From 2022 to 2028
 Base Year  2021
 Forecast Period  2022-2028
 Historical Data  2017-2020
 Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
 Key Segments • By Automation level (Semi-automated, Fully automated)
• By System type (Hardware, Software)
• By End-user (Commercial, Residential, Mixed-use)
• By Design Model (Hydraulic, Electro-mechanical)
• By Platform type (Palleted, Non-palleted)
• By Parking level (Less than level 5, Level 5- level 10, More than level 15)
 Regional Analysis/Coverage North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
 Company Profiles Wohr, Boomerang Systems, Klaus Multi Parking, FATA Automation, AJ Automated Parking System, CityLift, Mitsubishi Electric Corporation, Westfalia, Expert Parking, TAPS, Robotic Parking Systems Inc., and Unitronics
 Key Drivers • The time spent looking for a parking spot waste contributes to pollution, and can be avoided by using an automated parking system.
• The efficiency of an automated parking system improves, allowing more vehicles to be parked in less area.
 Challenges • An automated parking system is more efficient but the construction costs are significant at first.
• Several companies do not appreciate automated parking systems due to the large costs involved.

 


Frequently Asked Questions (FAQ) :


Table of Contents

 

1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

 

2. Research Methodology

 

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

 

4. Impact Analysis

4.1 COVID-19 Impact Analysis

4.2 impact of Ukraine-Russia War

 

5. Value Chain Analysis

 

6. Porter’s 5 forces model

 

7.  PEST Analysis

 

8. Global Automated Parking System Market Segmentation, by Automation level

8.1 Semi-automated

8.2 Fully automated

 

9. Global Automated Parking System Market Segmentation, by System type

9.1 Hardware

9.2 Software

 

10. Global Automated Parking System Market Segmentation, by End-user

10.1 Commercial

10.2 Residential

10.3 Mixed-use

 

11. Global Automated Parking System Market Segmentation, by Design model

11.1 Hydraulic

11.2 Electro-mechanical

 

12. Global Automated Parking System Market Segmentation, by Platform type

12.1 Palleted

12.2 Non-Palleted

 

13. Global Automated Parking System Market Segmentation, by Parking level

13.1 Less than level 5

13.2 Level 5- level 10

13.3 More than level 15

 

14. Regional Analysis

14.1 Introduction

14.2 North America

14.2.1 USA

14.2.2  Canada

14.2.3  Mexico

14.3 Europe

14.3.1  Germany

14.3.2  UK

14.3.3  France

14.3.4  Italy

14.3.5  Spain

14.3.6  The Netherlands

14.3.7  Rest of Europe

14.4 Asia-Pacific

14.4.1  Japan

14.4.2  South Korea

14.4.3  China

14.4.4  India

14.4.5  Australia

14.4.6  Rest of Asia-Pacific

14.5 The Middle East & Africa

14.5.1  Israel

14.5.2  UAE

14.5.3  South Africa

14.5.4  Rest

14.6 Latin America

14.6.1  Brazil

14.6.2  Argentina

14.6.3  Rest of Latin America

 

15. Company Profiles

15.1 Wohr (Germany)

15.1.1 Financial

15.1.2 Products/ Services Offered

15.1.3 SWOT Analysis

15.1.4 The SNS view

15.2 Boomerang Systems

15.3 Klaus Multi Parking (Germany)

15.4 FATA Automation

15.5 AJ Automated Parking System

15.6 CityLift (US)

15.7 Mitsubishi Electric Corporation

15.8 Westfalia (Germany)

15.9 Expert Parking

15.10 TAPS

15.11 Robotic Parking Systems Inc. (US)

15.12 Unitronics

 

16. Competitive Landscape

16.1 Competitive Benchmarking

16.2 Market Share analysis

16.3 Recent Developments

 

17. Conclusion

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Secondary Research

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