Automated Parking Systems Market Size To Grow At A CAGR Of 15.4% In The Forecast Period Of 2024-2032

Automated Parking Systems Market Outlook

The global automated parking systems market has been on a steady rise in recent years, driven by factors such as urbanization, increasing vehicle ownership, and the need for efficient parking solutions in congested urban areas. According to a comprehensive report by Expert Market Research (EMR), the automated parking systems market size reached a value of USD 2.10 billion in 2023 and is expected to grow at a CAGR of 15.4% from 2024 to 2032, eventually reaching a value of USD 7.63 billion by 2032.

Get a Free Sample Report with Table of Contents@
https://www.expertmarketresearch.com/reports/automated-parking-systems-market/requestsample

Automated parking systems (APS) are a modern solution to the age-old problem of urban parking. These systems utilize advanced technology and robotics to efficiently park and retrieve vehicles in compact spaces, reducing the need for vast parking lots and minimizing the time and effort required for parking. As cities become more congested, and parking spaces scarcer, APS is emerging as a game-changing technology in the automotive and urban planning sectors.

Key Drivers Growth of the Automated Parking Systems Market

Urbanization and Space Constraints: The rapid pace of urbanization around the world has led to increased congestion and limited parking space availability in cities. APS offers a practical solution to maximize the utilization of available space, making it an attractive option for urban planners and developers.

Environmental Concerns: APS helps reduce the environmental footprint associated with traditional parking lots. By eliminating the need for large parking structures, it conserves land, reduces energy consumption, and minimizes greenhouse gas emissions.

Convenience and Time Savings: For urban dwellers, finding parking can be a time-consuming and frustrating experience. APS streamlines the process, offering convenience, and time savings to users. Drivers can drop off their vehicles at a designated point, and the system takes care of the rest, retrieving the car quickly when needed.

Technological Advancements: Ongoing advancements in robotics, artificial intelligence, and sensor technology have made APS more efficient and reliable. These improvements have increased the appeal of APS to developers and property owners.

Government Initiatives: Many governments are encouraging the adoption of automated parking systems as part of their smart city initiatives. Incentives and regulations are being put in place to promote the integration of APS into urban planning and development projects.

Read Full Report with Table of Contents@
https://www.expertmarketresearch.com/reports/automated-parking-systems-market

Automated Parking Systems Market Segmentation

The market can be divided based on component, structure, platform, automation level, parking level, design model, end-use, and region.

Market Breakup by Component

Hardware
Software

Market Breakup by Structure

AGV (Automated Guided Vehicles)
Rail Guided Cart (RGC) System
Silo System
Shuttle System
Tower System
Puzzle System

Market Breakup by Platform

Palleted
Non-palleted

Market Breakup by Automation Level

Fully Automated
Semi - Automated

Market Breakup by Parking Level

Less than Level 5
Level 5- Level 10
More than Level 10

Market Breakup by Design Model

Hydraulic
Electro-Mechanical

Market Breakup by End-Use

Residential
Commercial
Government Parking Lots
Mixed-Use

Market Breakup by Region

North America
Europe
Asia Pacific
Latin America
Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global automated parking systems companies. Some of the major key players explored in the report by Expert Market Research are as follows:

Robotic Parking Systems, Inc.
Fata Automation, Inc.
Lödige Industries GmbH
ShinMaywa Industries, Ltd.
Park Plus, Inc.
Robotic Parking Systems, Inc.
Westfalia Technologies, Inc
Fehr Lagerlogistik AG
Unitronics (1989) (R"G) Ltd.
Others

Future Trends in the Automated Parking Systems Market

Vertical Integration: The integration of APS with other smart city solutions, such as traffic management systems and electric vehicle charging infrastructure, will become more prevalent, enhancing overall urban mobility.

Improved User Experience: Innovations in user interfaces and mobile apps will simplify the user experience and make automated parking more accessible to a broader audience.

Sustainable Solutions: Continued emphasis on sustainability will lead to the development of eco-friendly APS options, such as solar-powered systems and green infrastructure.

Autonomous Vehicles: The rise of autonomous vehicles is likely to further drive the adoption of APS, as these vehicles can efficiently utilize parking systems without the need for human intervention.

Challenges and Opportunities

While the global automated parking systems market holds immense potential, it also faces challenges that must be addressed:

High Initial Costs: The upfront costs of implementing automated parking systems can be substantial. However, over the long term, these systems offer cost savings in terms of reduced land requirements and maintenance expenses.

Technological Complexity: The complexity of automated parking systems may pose a learning curve for operators and users. Effective training and user-friendly interfaces are essential to ensure smooth adoption.

Regulatory Approvals: Ensuring compliance with local regulations and safety standards can be a hurdle for automated parking system providers. Collaborating with regulatory bodies is crucial to navigate these challenges.

Opportunities for growth include:

Smart City Initiatives: Many cities are embracing the concept of smart cities, which includes the integration of advanced parking solutions. Partnerships with government agencies can open up significant opportunities for automated parking system providers.

Sustainability Focus: As sustainability becomes a central theme in urban planning, the environmental benefits of automated parking systems make them attractive options for eco-conscious municipalities and property developers.

Technological Advancements: Continuous innovation in automation technology, including improved sensors, AI, and robotics, can drive further market growth by making systems more efficient and cost-effective.

Read More Reports:

Smart Parking Market: https://www.expertmarketresearch.com/reports/smart-parking-market

Load Cell Market: https://www.expertmarketresearch.com/reports/load-cell-market

Ethylene Oxide Market: https://www.expertmarketresearch.com/reports/ethylene-oxide-market

Media Contact:

Company Name: Claight Corporation
Contact Person: George buttler, Corporate Sales Specialist - U.S.A.
Email: sales@expertmarketresearch.com
Toll Free Number: +1-415-325-5166 | +44-702-402-5790
Address: 30 North Gould Street, Sheridan, WY 82801, USA
Website: https://www.expertmarketresearch.com

About Us:

Acquire unparalleled access to critical industry insights with our comprehensive market research reports, meticulously prepared by a team of seasoned experts. These reports are designed to equip decision-makers with an in-depth understanding of prevailing market trends, competitive landscapes, and growth opportunities.

Our high-quality, data-driven analyses provide the essential framework for organisations seeking to make informed and strategic decisions in an increasingly complex and rapidly evolving business environment. By investing in our market research reports, you can ensure your organisation remains agile, proactive, and poised for success in today's competitive market.

Don't miss the opportunity to elevate your business intelligence and fortify your strategic planning. Secure your organisation's future success by acquiring one of our Expert Market Research reports today.

This release was published on openPR.