Automated Parking Systems Market to hit USD 4.28 Bn. in 2029 Industry Analysis, Trends, Size, Share, Opportunities and Forecast (2022-2029)
Pune, 8, Dec, 2022: The report analysed by Maximize Market research, on Automated Parking Systems Market covers an extensive regional analysis and competitive landscape. Over the forecast period, Maximize Market research expects, the market to growth from USD 1.38 Bn. in 2021 to USD 4.28 Bn. in 2029 at a CAGR of 15.2%. Europe is expected to grow at a CAGR of 10.11%
Automated Parking Systems Market Scope and Research Methodology
An automated car parking system is a system with the help of which large amount of cars can be parked in small amount of space. Nowadays the demand for automated car parking system is increasing due to the issues like lack of parking space and increasing emissions and wastage of fuel by cars searching for parking space.
The report of the Automated Parking Systems Market covers all the major aspects and trends. The objective of the report is to provide a detailed analysis of key players which includes market leaders, followers, and new entrants. To understand the factors that impact Automated Parking Systems Market, the report focuses on the dedicated study of drivers, restraints, opportunities and challenges which makes it an investor’s guide.
The bottom-up method has been used to estimate the Automated Parking Systems Market size. Data collected is a combination of both primary and secondary research methods to draw accurate inferences. Primary research methods used were surveys, questionnaire distribution, and phone interviews with industries expert, market leaders, marketing professionals and entrepreneurs whereas secondary research method was used to gather data from selected set of sources for the accurate conclusions which includes official databases of various organisations and government sites, industry journals, white papers, annual reports, releases of product manufacturers and suppliers in the industry along with paid databases.
To understand the impact of micro-economic factors of the Automated Parking Systems Market, PORTER, PESTEL analysis was conducted. SWOT analysis was employed to provide the strengths and weaknesses of the Automated Parking Systems Market.
To provide a comprehensive analysis of the Automated Parking Systems Market to the stakeholders in the industry is the major objective of the report. The past and present trends of the industry with the forecasted market size are presented in the report with the analysis of complicated data in an easy language. All the aspects of the industry are covered in the report with a detailed analysis of key players that include market leaders, followers, and new entrants.
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Automated Parking Systems Market Overview
An Automated Parking System (APS) is a mechanical device that provides parking space for vehicles on multiple levels stacked vertically which is similar to multi-storey building.
Limited parking space, increasing number of vehicles, consumer demand for comfort and convenience, rising need for green and sustainable parking solutions and the government smart city initiatives are the key drivers who are expected to fuel the demand for Automated Parking Systems Market during the forecast period.
Automated Parking Systems Market Dynamics
Increasing population with an increase in the demand for cars and the development in the technology is one of the major challenges for the Automated Parking Systems Market. Recent invention of robot car parking allows cars to use parking lot which is operated by robotic-powered devices. In future this invention might enhance parking experience of the people.
Primary cause of the global warming and climate change is the increasing volume of emissions in the automotive industry. Time spent for looking car parking leads to increase in emission and fuel wastage which can be reduced by automated parking system that can park more vehicles in less space.
Construction of automated parking system requires high cost compared to traditional parking system. As many businesses prioritize profits they do not appreciate automated parking systems. Even though automated parking systems being effective, sustainable, and environmentally beneficial their high construction cost can limit Automotive Parking System Market growth.
Automated Parking Systems Market Regional Insights
During the forecast period, the Automated Parking Systems market in Europe is expected to grow 10.11 percent. By the study it was found out that, in Europe lack of safe, insufficient and secure parking areas is a major concern due to the constant development in the urban regions and smart cities whose one of the major challenges is to reduce time spent circling vehicles looking for parking spaces. Insufficient parking areas is one of the major key drivers of the Automated Parking Systems market in the region. German city in Europe is expected to hold largest market share during the forecast period as the cities are developing their strategies of smart city and finding out ways to use them in their own ways.
Automated Parking Systems Market Segmentation
By Automation Level
- Semi-automated
- Fully-automated
By Platform Type
- Palleted
- Non-palleted
By Component
- Handwear
- Software
Automated Parking Systems Market Key Competitors are:
- 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
- AutoMotion Parking Systems
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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 Automated Parking Systems Market for the next five years?
- What is the nature of competition in Automated Parking Systems industry in developed and developing economies?
- Who are the key players in the Automated Parking Systems Market?
- Who are the market leaders in Automated Parking Systems industry in Europe
- Who are the market leaders in Automated Parking Systems industry in USA and Canada
- Who are the market leaders in Automated Parking Systems Market in India, China, Japan and South Korea?
- What are the factors affecting growth in the Automated Parking Systems Market?
- Who held the largest market share in Automated Parking Systems Market?
- What are the factors for the growth of Asia-Pacific region in Automated Parking Systems Market?
Key Offerings:
- Market Share, Size & Forecast by Revenue | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
- Market Segmentation – A detailed analysis by Segment and Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
Maximize Market Research is leading Automotive and Transportation research firm, has also published the following reports:
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About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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