APS | Automated Parking System Market Upcoming Trends, Top Players, and Revenue Analysis

Whipsmartmi.com offers "Global Automated Parking System Market 2021-2027" from its research database.

The Automated Parking System Market is estimated to grow at a CAGR 12.87% rate during the forecast period owing to the increasing number of vehicles, scarcity of land for parking, rising urbanization, growing demand for green & sustainable parking solutions, increasing demand for luxury buildings, and smart cities initiatives from the government. The fully automated parking system is estimated to account for the largest market share. The high demand for comfort and convenience from consumers, increasing number of luxury projects, and rising adoption of a fully automated parking system by construction companies is driving the fully market.

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Key market players include Wohr (Germany), Klaus Multi Parking (Germany), CityLift (the US), Westfalia (Germany), Robotic Parking Systems Inc. (the US), and Unitronics (Israel).

The hardware segment is estimated to be the largest in automated parkin system market. There are several types of the automated parking system, such as tower, puzzle, RGC, Silo, and AGV. Along with the structure of the automated parking system, the key hardware includes a microcontroller, RF module, display, GSM module, motor driver, DC motor, ultrasonic sensors, and camera units. Depending on the budget, various solutions such as web-based parking solutions, parking guidance system, mobile-based parking, license plate recognition systems, sensor-based parking recognition, and RFID system can be integrated into the systems.

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