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High-Rise Structures Fuel Automated Parking System Market Growth: A Significant Driver Propelling The Automated Parking System Market In 2025
Automated Parking System
What Is the Automated Parking System Market Size and Projected Growth Rate?
The market size of the automated parking system has witnessed substantial growth in the past few years. The industry, which was valued at $2.34 billion in 2024, is expected to increase to $2.63 billion in 2025, indicating a compound annual growth rate (CAGR) of 12.3%. Factors contributing to this historical growth include limited parking spaces in urban locations, a push for environmental sustainability, attempts to reduce traffic congestion, improving safety and security, and greater uptake in areas with a high population density.
The market size of automated parking systems is anticipated to experience a swift expansion in the upcoming years. The market is projected to rise to $4.96 billion in 2029 with a compound annual growth rate (CAGR) of 17.2%. Factors such as the increase in electric vehicles, demands for convenience from consumers, integration with smart cities, and sustainable urban growth are driving this forecasted expansion. The transformative trends expected during this period include urbanization, space constraints, traffic issues, technological innovation, as well as safety and security concerns.
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What Are the Major Segments in the Automated Parking System Market?
The automated parking system market covered in this report is segmented -
1) By Component: Hardware, Software
2) By Structure Type: AGV System, Silo System, Tower System, Rail Guided Cart (RGC) System, Puzzle System, Shuttle System
3) By Platform: Palleted, Non-Palleted
4) By Automation Level: Fully Automated, Semi Automated
Subsegments:
1) By Hardware: Parking Sensors, Cameras And Image Processing Units, Control Units And Servers, Entry Or Exit Barriers and Gates, Display And Signage Systems
2) By Software: Parking Management Software, Reservation And Payment Systems, Analytics And Reporting Tools, User Interface Applications, Integration Software For Smart City Solutions.
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What Are The Driving Automated Parking System Market Evolution?
The surge in tall building construction is anticipated to drive the expansion of the automated parking system market. A high-rise structure, or building ranging between 75 and 491 feet in height, utilizes an integrated automated parking system to resist earthquakes, offer safety features, and accommodate vehicle undercarriage pallets. For example, in the Building Safety Programme Monthly Data Release report released in July 2022, the UK government website GOV.UK stated that by the end of this period, remediation work had commenced or completed on 95% or 462 of all identified high-rise residential and public buildings in England. Thus, these high-rise buildings are facilitating the growth of the automated parking system market.
Which Firms Dominate The Automated Parking System Market Segments?
Major companies operating in the automated parking system market include Westfalia Technologies Inc., Unitronics Systems Inc., Klaus Multiparking Systems Pvt Ltd., Robotic Parking Systems Inc., City Lift Parking LLC, Wohr Parking System Pvt Ltd., Lodige Industries GmbH, ShinMaywa Industries Ltd., Skyline Parking AG, Dayang Parking Co. Ltd., Eito & Global Inc., FATA Automation Inc., ParkPlus Inc., Robopark Inc., Parkmatic Systems Inc., Smart Parking Solutions Inc., Serva Transport Systems GmbH, Park Assist LLC, Amano McGann Inc., IHI Corporation, Omnitec Group, MHE-Demag (S) Pte Ltd, T2 Systems Inc., U-TRON Electronics Co. Ltd., TADA Technologies Pte Ltd, U-ParkIt Solutions LLC, UbiPark Pty Ltd, Umojo Inc.
What Trends Are Expected to Dominate the Automated Parking System Market in the Next 5 Years?
Key players in the automated parking system market are concentrating on creating novel solutions like advanced automated parking systems (AAPS) to augment parking efficiency and maximize space utility. Essentially, an advanced automated parking system (AAPS) represents an intricate parking solution automating the entire vehicle parking and retrieval process. For example, Veer Savarkar International Airport, an airport based in India, in August 2024, unveiled an Advanced Automated Parking System (AAPS) with the aim of improving the parking experiences of travelers. The revolutionary system boasts sensor-driven boom barriers for automated vehicle control, CCTV monitoring for safety, and automatic ticket distribution machines to simplify the ticketing procedure. The AAPS, which is designed to diminish manual intervention and offer transparent parking fees, will also incorporate time-stamping at crucial spots for enhanced precision.
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Which Is The Largest Region In The Automated Parking System Market?
Western Europe was the largest region in the automated parking system market in 2024.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automated parking system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Automated Parking System Market?
2. What is the CAGR expected in the Automated Parking System Market?
3. What Are the Key Innovations Transforming the Automated Parking System Industry?
4. Which Region Is Leading the Automated Parking System Market?
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