Automated Valet Parking (AVP) market was valued at US$ 576.1 million in 2022 and is anticipated to reach US$ 3849.1 million by 2029, witnessing a CAGR of 37.2% - Valuates Reports

The global Automated Valet Parking (AVP) market was valued at US$ 576.1 million in 2022 and is anticipated to reach US$ 3849.1 million by 2029, witnessing a CAGR of 37.2% during the forecast period 2023-2029.

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The Automated Valet Parking (AVP) is used to realize fully autonomous vehicle autonomous driving in a specific area from the entrance/exit of the parking lot to the parking space, because of its low driving speed and the ability to maximize the specific operating site. The feature of ensuring safety is recognized by the industry as the first L4-level autonomous driving scene to be implemented. Automated Valet Parking is the first and last step of autonomous driving. The "first step" refers to the one-button summon function, and the "last step" is the one-button parking function. The basic requirements of the one-button parking function are: the user gets off the car at the designated drop-off point, and issues a parking instruction through the mobile APP. After receiving the instruction, the vehicle can automatically drive to the parking space in the parking lot, without user manipulation and monitoring. If multiple vehicles receive the parking instruction at the same time, the automatic waiting of multiple vehicles to enter the parking space can be realized. The basic requirements of the one-key calling function are: the user issues a car pickup order through the mobile phone APP, and the vehicle can automatically drive from the parking space to the designated pickup point after receiving the order.
The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.
Global key players of automated valet parking (AVP) include Valeo, Bosch, Zongmu Tech, etc. The top three players hold a share about 82%. Key players are mainly located in United States, Europe and China, they occupied for a share about 99%. Europe is the largest market, has a share about 34%, followed by North America and Asia-Pacific, with share 33% and 32%, separately.

This report aims to provide a comprehensive presentation of the global market for Automated Valet Parking (AVP), with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Automated Valet Parking (AVP).
The Automated Valet Parking (AVP) market size, estimations, and forecasts are provided in terms of and revenue ($ millions), considering 2022 as the base year, with history and forecast data for the period from 2018 to 2029. This report segments the global Automated Valet Parking (AVP) market comprehensively. Regional market sizes, concerning products by type, by application, and by players, are also provided.
For a more in-depth understanding of the market, the report provides profiles of the competitive landscape, key competitors, and their respective market ranks. The report also discusses technological trends and new product developments.
The report will help the Automated Valet Parking (AVP) companies, new entrants, and industry chain related companies in this market with information on the revenues for the overall market and the sub-segments across the different segments, by company, by type, by application, and by regions.

Segment by Type
Millimeter Wave Radar
Surround View

Segment by Application
Flat Floor (Helical)
Flat Floor (One-Way Ramp)
Others

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