Semi-Automated Parking Management Systems Market End User, by System Type, Company Profiles and Forecast by 2029

A semi-automated parking management system can mechanically move a vehicle to the parking space, however parking and retrieving a car from the parking requires help from the attendant or the driver in semi-automated parking systems. Semi-automated system is used for a vehicle capacity of below 100 cars. The system has become very helpful due to the increase in demand for safe and convenient parking. Additionally, parking system helps in minimizing the hassle of parking a car. Furthermore, the semi-automated parking management system is becoming popular due to the increasing demand for luxury projects and rising adoption of a semi-automated parking system by construction companies, especially in urban areas. A semi-automated parking system has high effectiveness and increased safety & convenience for the passengers. Therefore, the demand for safety & convenience for the passenger is expected to boost the market growth for the semi-automated parking management system in the future.

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COVID-19 scenario Analysis:
• The vendors in semi-automated parking management system industry across the globe is affected severely due to the restrictions on producers as well as the declared lockdowns which in turn is affecting the demand for the global semi-automated parking management system worldwide.
• Global semi-automated parking management system is an evolving sector which is hampered due to coronavirus which in turn has caused a major shutdown in the production and installation process for the semi-automated parking management system manufacturers across the affected countries & all type of operations were disrupted owing to the pandemic.
• Majority of semi-automated parking management system manufacturers are facing issues such as unavailability of workforce and cash flow problems due to the government declared lockdowns which will further affects the production of the semi-automated parking management system, mainly due to COVID-19 pandemic.

Top impacting factors: market scenario analysis, trends, drivers and impact analysis

Demand for green & sustainable parking solutions, time consumed in the search of parking spaces and less parking spaces due to rising urbanization are driving the growth of the market. However, high complexity of the system integration and issues with quality control is expected to hamper the growth of the market. Contrarily, initiative of developing smart cities and increasing demand for luxury residential buildings can be seen as an opportunity for the market investments.

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The semi-automated parking management system market trends are as follows:

High complexity of the system integration

Parking management system comprises of a variety of hardware sensors, real-time messaging systems, traffic control devices, wireless & wired telecommunications systems, computer servers and application interfaces which can be complex as well as expensive to install. The variety & variability in the semi-autonomous parking management hardware & software infrastructure are massive and require advanced machinery for the integration. Furthermore, the parking data stores are tough to maintain, making it relatively complex to integrate the system. Therefore, high complexity of the system integration is anticipated to hamper the market growth for the semi-automated parking management system during the forecast period.

Key benefits of the report:
• This study presents the analytical depiction of the semi-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 semi-automated parking management system market.
• The current market is quantitatively analyzed from 2019 to 2027 to highlight the semi-automated parking management system market growth scenario.
• We can also determine parking system will remain a significant revenue shareholder in the semi-automated parking management system market through the predictable future.

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