Automated Parking Management Systems Market | Is Projected to Expand at a Steady CAGR over the Forecast by 2030 | Key Player - Kyline Parking AG, CityLift Parking, Robotic Parking Systems Inc., Unitronics, Dayang Parking Co. Ltd, Klaus Multiparking System

A fully automated parking management system can mechanically park and retrieve a car from the parking space. The demand for this system has witnessed significant growth due to increase in demand for safe and convenient parking. In addition, parking system helps in minimizing the hassle one goes through while parking the car. The automated parking supervision system market is experiencing an upsurge in demand due to increase in demand for luxury projects and rise in adoption of a fully automated parking system by construction companies, especially in urban areas. An automated parking system has improved capacity, high effectiveness, reduced emission, and increased safety & convenience. Therefore, increase in demand for automated parking system is projected to boost the market growth in the future.

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COVID-19 scenario analysis:
• The pandemic has had a negative impact on the global automated parking management system market size for the year 2020 due to unavailability of workforce and the global lockdown.
• The automated parking management system market is an evolving sector, which is massively hampered as all type of production and installation across the affected countries had been shut down & all operations were disrupted due to the pandemic.
• Majority of automated parking management system manufacturers are facing issues such as closure of factories and unavailability of workforce due to the lockdowns, which further affects the production of car as well.
• As the governments all over the world have declared lockdowns over the past few months, the demand and supply cycle of many automated parking management system manufacturers is vulnerable.
• The vendors in automated parking management systems industry across the globe are being affected severely due to the restrictions on producers, which further affects the global automated parking management system manufacturers worldwide.

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Top impacting factors: market scenario analysis, trends, drivers, and impact analysis
Increase in demand for sustainable parking solutions, time consumed in the search of parking spaces, and less parking spaces due to rise in urbanization drive the growth of the market. However, high complexity of the system and issues with quality control are expected to hamper the growth of the market. On the contrary, initiative of developing smart cities and increase in demand for luxury residential buildings can be seen as an opportunity for the market investments.

The automated parking management system market trends are as follows:

Time consumed in the search of parking spaces
Finding an unoccupied parking space during office hours has become a tremendous task for many drivers in zones such as hotels, hospitals, shopping centers, airports, universities, offices, and exhibitions & convention centers. In addition, the constant rise in the number of vehicles worldwide has become a problem related to the parking in residential as well as commercial areas. Therefore, this problem is solved by using enhanced feature such as alert of available space on the infotainment display of the car using smart parking technology. This feature reduces the amount of time spend by driver for finding out the available parking slot and automate the procedure of searching the whole parking floor. Therefore, growing demand for smart parking boosts the growth of the automated parking management system market.

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Key benefits of the report:
• This study presents the analytical depiction of the automated parking management system industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with challenges of the automated parking management system market.
• The current market is quantitatively analyzed from 2019 to 2027 to highlight the automated parking management system market growth scenario.
• It is also determined that the parking system will remain a significant revenue shareholder in the automated parking management system market throughout the forecast period.

Questions answered in the automotive parking management system market research report:
• Which are the leading market players active in the automated parking management system market?
• What are the current trends that will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities in the market?
• What are the projections for the future that would help in taking further strategic steps?

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