Automated Parking Systems Market Poised for Strong Growth, Expected to Reach USD 4.90 Billion by 2030

𝐀𝐮𝐭𝐨𝐦𝐚𝐭𝐞𝐝 𝐏𝐚𝐫𝐤𝐢𝐧𝐠 𝐒𝐲𝐬𝐭𝐞𝐦𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰:

Automated parking systems (APS) are innovative mechanical systems that maximize vehicle storage space by stacking cars vertically on multiple levels. This system operates without the need for drivers, as it relies on a mechanical mechanism to move and store vehicles. APS can be more accurately described as an automated storage and retrieval system for automobiles, significantly enhancing parking efficiency while minimizing land use.

The demand for APS has surged in response to the exponential growth in the number of vehicles on the road, especially in urban areas. This increase has led to significant parking and traffic congestion issues, prompting the need for efficient parking solutions worldwide. Automated parking systems not only streamline the parking process but also offer added convenience for vehicle owners by automatically parking cars in available spaces. The pressing issues of limited parking spaces and growing urban traffic congestion are key factors driving the expansion of the APS market.

𝐀𝐮𝐭𝐨𝐦𝐚𝐭𝐞𝐝 𝐏𝐚𝐫𝐤𝐢𝐧𝐠 𝐒𝐲𝐬𝐭𝐞𝐦𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐆𝐫𝐨𝐰𝐭𝐡 𝐑𝐚𝐭𝐞 𝐅𝐨𝐫𝐞𝐜𝐚𝐬𝐭:

The global Automated Parking Systems (APS) market, which was valued at USD 1.82 billion in 2023, is projected to witness robust growth over the next several years, with a compound annual growth rate (CAGR) of 15.2%. By 2030, the market is expected to reach an impressive USD 4.90 billion. This article delves into the key drivers, challenges, and future opportunities shaping the APS market.

𝐂𝐥𝐢𝐜𝐤 𝐇𝐞𝐫𝐞 𝐟𝐨𝐫 𝐘𝐨𝐮𝐫 𝐅𝐫𝐞𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 + 𝐑𝐞𝐩𝐨𝐫𝐭 𝐆𝐫𝐚𝐩𝐡𝐬: https://www.maximizemarketresearch.com/request-sample/77497/

𝐌𝐚𝐫𝐤𝐞𝐭 𝐃𝐫𝐢𝐯𝐞𝐫𝐬 𝐚𝐧𝐝 𝐂𝐡𝐚𝐥𝐥𝐞𝐧𝐠𝐞𝐬

𝐓𝐡𝐞 𝐔𝐫𝐛𝐚𝐧 𝐕𝐞𝐡𝐢𝐜𝐥𝐞 𝐁𝐨𝐨𝐦

The rapid increase in the number of vehicles, particularly in urban centers, presents both opportunities and challenges for the APS market. The growing variety of vehicle sizes complicates the design and operation of automated parking systems. Additionally, the high initial costs associated with constructing and maintaining these smart facilities pose financial challenges, potentially hindering market growth.

However, the rising number of luxury buildings, increasing government support, and growing interest among developers are boosting the adoption of APS. The expansion of the infrastructure sector, especially in urban areas, is expected to create significant opportunities for APS implementation in both under-construction and newly constructed buildings.

Technological Advancements: The Game-Changing Role of Robotic Parking
Robotic parking systems represent the latest innovation in the APS market. These systems enable vehicles to park autonomously, with the entire process-from entry to parking-being managed by robotic devices. This technology promises to revolutionize the parking experience, providing a seamless, automated process that enhances user convenience. As a result, robotic parking systems are expected to be a significant growth driver for the APS market in the coming years.

𝐒𝐮𝐬𝐭𝐚𝐢𝐧𝐚𝐛𝐢𝐥𝐢𝐭𝐲 𝐚𝐧𝐝 𝐆𝐫𝐞𝐞𝐧 𝐏𝐚𝐫𝐤𝐢𝐧𝐠 𝐈𝐧𝐢𝐭𝐢𝐚𝐭𝐢𝐯𝐞𝐬

The automotive industry is a major contributor to global emissions, which are a leading cause of climate change. In response, many governments and organizations are implementing measures to reduce vehicle emissions. For instance, the European Union and G8 nations have committed to reducing CO2 emissions by 80% by 2050. Similarly, countries like China and the United States have pledged to uphold the Paris Climate Agreement.

One of the lesser-known contributors to vehicle emissions is the time spent searching for parking spaces, which leads to unnecessary fuel consumption and increased emissions. Automated parking systems can mitigate these issues by reducing the time spent circling for a spot, thereby lowering emissions, energy consumption, and the construction footprint. Moreover, the integration of solar power and electric vehicle charging stations into APS can further promote green and sustainable solutions, driving market growth.

𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐭𝐫𝐚𝐢𝐧𝐭𝐬

𝐐𝐮𝐚𝐥𝐢𝐭𝐲 𝐂𝐨𝐧𝐭𝐫𝐨𝐥 𝐚𝐧𝐝 𝐒𝐲𝐬𝐭𝐞𝐦 𝐂𝐨𝐦𝐩𝐥𝐞𝐱𝐢𝐭𝐲

The construction of an automated parking system is inherently complex, requiring meticulous planning and integration of both hardware and software components. Any failure in one part of the system can lead to the collapse of the entire system. Additionally, the availability of space and the safety of vehicles during the parking process are critical concerns. Instances of drivers receiving the wrong vehicle or cars being damaged during automated parking have highlighted the need for rigorous quality control and system reliability.

The lack of standardized regulations for APS operation poses another challenge, making it difficult for manufacturers to ensure consistent quality. Moreover, the high initial investment required for APS installation often leads developers to opt for less expensive, lower-capacity systems, further compromising quality.

𝐀𝐮𝐭𝐨𝐦𝐚𝐭𝐞𝐝 𝐏𝐚𝐫𝐤𝐢𝐧𝐠 𝐒𝐲𝐬𝐭𝐞𝐦𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧

𝐛𝐲 𝐀𝐮𝐭𝐨𝐦𝐚𝐭𝐢𝐨𝐧 𝐋𝐞𝐯𝐞𝐥

Semi-automated
Fully-automated

In 2023, the fully automated segment accounted for the largest share of the APS market, with a growth rate expected to remain strong throughout the forecast period. Fully automated systems, which function similarly to robotic valet parking, offer a seamless experience for drivers. Upon arrival at an APS facility, drivers simply exit their vehicles, which are then automatically parked by the system. This eliminates the need for parking attendants and optimizes space utilization.

The hardware component of APS, which includes microcontrollers, sensors, cameras, and motor drivers, constitutes the largest portion of the system's overall cost. Given the significant investment in hardware, the fully automated segment is likely to continue dominating the market.

𝐛𝐲 𝐏𝐥𝐚𝐭𝐟𝐨𝐫𝐦 𝐓𝐲𝐩𝐞

Palleted
Non-palleted

The palleted segment is expected to lead the APS market, driven by its ability to facilitate vehicle movement within parking spaces. These systems are particularly beneficial as they do not require vehicle-size accommodations, reducing transportation complexity. As remote work trends continue, the demand for secure and efficient parking solutions is anticipated to grow, further bolstering the palleted segment.

𝐛𝐲 𝐂𝐨𝐦𝐩𝐨𝐧𝐞𝐧𝐭

Handwear
Software

The APS market is divided into hardware and software segments based on components. Hardware, including sensors, cameras, and smart meters, currently dominates the market, especially in on-street parking applications. The increasing demand for on-street parking in urban areas has led to widespread adoption of these systems. Governments are also enhancing road infrastructure with additional equipment and cameras to manage traffic flow, contributing to the growing popularity of smart parking systems.

𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐑𝐞𝐩𝐨𝐫𝐭 𝐋𝐢𝐧𝐤 𝐃𝐞𝐭𝐚𝐢𝐥𝐬 𝐂𝐥𝐢𝐜𝐤 𝐇𝐞𝐫𝐞: https://www.maximizemarketresearch.com/request-sample/77497/

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬

The European APS market is projected to achieve a CAGR of 10.11% during the forecast period (2024-2030). Urban areas in Europe face significant challenges due to high population density and limited parking spaces. As cities strive to become more sustainable and accessible, the demand for smart parking solutions is increasing.

Germany is expected to be a major market within Europe, with cities like Munich, Cologne, and Hamburg leading the way in smart city initiatives. These cities are developing strategies to integrate APS into their urban planning, addressing the dual challenges of parking shortages and environmental sustainability.

Additionally, in June 2022, Urbiotica announced the acquisition of Fastprk, a parking management solution from Worldsensing. This acquisition enhances Urbiotica's portfolio of smart parking solutions, positioning the company as a leader in the European market.

𝐀𝐮𝐭𝐨𝐦𝐚𝐭𝐞𝐝 𝐏𝐚𝐫𝐤𝐢𝐧𝐠 𝐒𝐲𝐬𝐭𝐞𝐦𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬

1. Parkmatic (US)
2. Robotic Parking Systems, Inc. (US)
3. AutoMotion Parking Systems (US)
4. CityLift (US)
5. DESIGNA (US)
6. Parking Systems (US)
7. FATA Automation (US)
8. Park Plus Inc. (US)
9. T2 Systems Inc. (US)
10.U-Tron (US)
11.Parkmatic (US)
12.Klaus Multiparking GmbH (Germany)
13.Cleverciti Systems GmbH (Germany)
14.Westfalia (Germany)
15.Wohr (Germany)
16.SKIDATA GmbH (Germany)
17.Palisa Automatic Parking GmbH & Co. KG (Germany)
18.Skyline Parking AG (Switzerland)
19.Dayand Parking Co., Ltd. (China)
20.Eito & Global Inc. (Japan)
21.Amano Corporation (Japan)
22.Unitronics (Israel)

𝐂𝐨𝐧𝐜𝐥𝐮𝐬𝐢𝐨𝐧:

The Automated Parking Systems market is set for significant growth, driven by technological advancements, urbanization, and increasing environmental awareness. However, the industry faces challenges related to high initial investment and the complexity of system implementation. As smart cities continue to evolve, the demand for efficient, sustainable parking solutions will likely drive the APS market forward, creating new opportunities for innovation and growth.

𝐔𝐧𝐜𝐨𝐯𝐞𝐫 𝐈𝐧-𝐃𝐞𝐩𝐭𝐡 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬: https://www.maximizemarketresearch.com/market-report/global-automated-parking-systems-market/77497/

𝐓𝐚𝐛𝐥𝐞 𝐨𝐟 𝐂𝐨𝐧𝐭𝐞𝐧𝐭𝐬: 𝐀𝐮𝐭𝐨𝐦𝐚𝐭𝐞𝐝 𝐏𝐚𝐫𝐤𝐢𝐧𝐠 𝐒𝐲𝐬𝐭𝐞𝐦𝐬 𝐌𝐚𝐫𝐤𝐞𝐭
Section 01: Overview
Section 02: Report Scope for the Automated Parking Systems Market
Section 03: Landscape of the Automated Parking Systems Market
Section 04: Size of the Automated Parking Systems Market
Section 05: Types of Automated Parking Systems Market Segmentation
Section 06: Analysis of Competitive Forces
Section 07: Profile of Customers
Section 08: Geographic Analysis
Section 09: Decision-Making Framework
Section 10: Factors Driving and Hindering Growth
Section 11: Current Market Developments
Section 12: Assessment of Market Participants
Section 13: Detailed Analysis of Vendors

𝐊𝐞𝐲 𝐪𝐮𝐞𝐬𝐭𝐢𝐨𝐧𝐬 𝐚𝐧𝐬𝐰𝐞𝐫𝐞𝐝 𝐢𝐧 𝐭𝐡𝐞 𝐀𝐮𝐭𝐨𝐦𝐚𝐭𝐞𝐝 𝐏𝐚𝐫𝐤𝐢𝐧𝐠 𝐒𝐲𝐬𝐭𝐞𝐦𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐚𝐫𝐞:

What is Automated Parking Systems?
What is the growth rate of the Automated Parking Systems Market?
Which are the factors expected to drive the Automated Parking Systems market growth?
What are the different segments of the Automated Parking Systems Market?
What growth strategies are the players considering to increase their presence in Automated Parking Systems?
What are the upcoming industry applications and trends for the Automated Parking Systems Market?

𝐊𝐞𝐲 𝐎𝐟𝐟𝐞𝐫𝐢𝐧𝐠𝐬:

Past Market Size and Competitive Landscape
Past Pricing and price curve by region
Market Size, Share, Size & Forecast by different segment
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by Region
Market Segmentation - A detailed analysis by segment with their sub-segments and Region
Competitive Landscape - Profiles of selected key players by region from a strategic perspective
Competitive landscape - Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER's analysis
Value chain and supply chain analysis

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𝐎𝐮𝐫 𝐀𝐝𝐝𝐫𝐞𝐬𝐬:

𝐌𝐚𝐱𝐢𝐦𝐢𝐳𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐏𝐯𝐭. 𝐋𝐭𝐝.
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