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.
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.
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.
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.
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.
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.
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.
By Automation level:
By System type:
By Design Model:
By Platform type:
By Parking level:
Less than level 5
Level 5- Level 10
More than level 15
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.
Rest of Europe
Rest of Asia-Pacific
The Middle East & Africa
Rest of Middle East & Africa
Rest of Latin America
|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|
|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
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
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
8.2 Fully automated
9. Global Automated Parking System Market Segmentation, by System type
10. Global Automated Parking System Market Segmentation, by End-user
11. Global Automated Parking System Market Segmentation, by Design model
12. Global Automated Parking System Market Segmentation, by Platform type
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
14.2 North America
14.3.6 The Netherlands
14.3.7 Rest of Europe
14.4.2 South Korea
14.4.6 Rest of Asia-Pacific
14.5 The Middle East & Africa
14.5.3 South Africa
14.6 Latin America
14.6.3 Rest of Latin America
15. Company Profiles
15.1 Wohr (Germany)
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
15.11 Robotic Parking Systems Inc. (US)
16. Competitive Landscape
16.1 Competitive Benchmarking
16.2 Market Share analysis
16.3 Recent Developments
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