Automated Parking Systems Market to Surge to USD 4.90 Billion by 2030 at 15.2% CAGR

The global Automated Parking Systems Market is poised for rapid growth, expected to reach a valuation of USD 4.90 billion by 2030, expanding at a robust CAGR of 15.2% during the forecast period from 2024 to 2030. The rising urbanization, increasing vehicle ownership, and limited parking spaces in metropolitan areas are driving the demand for efficient automated parking solutions worldwide.

Automated Parking Systems Market Overview

Automated parking systems utilize advanced robotics and software to park vehicles efficiently without the need for human intervention, significantly reducing space requirements and enhancing convenience. Increasing adoption of smart city infrastructure and growing investments in real estate development are fueling market expansion.

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Competitive Landscape

The automated parking systems market features intense competition among key players such as Westfalia Technologies, Stanley Robotics, Tesla Inc., Schindler Group, and Klaus Multiparking GmbH. These companies focus on innovation, strategic partnerships, and mergers to expand their global footprint and improve technology offerings.

Higher Demand in Asia-Pacific Region

The Asia-Pacific region is witnessing the highest demand for automated parking systems due to rapid urbanization, increasing vehicle ownership, and infrastructural developments in countries such as China, Japan, and South Korea.

Country-Specific Insights and Market Dynamics

Automated Parking Systems Growth Opportunities in Vietnam

Vietnam is experiencing increased demand for automated parking systems as urban centers expand and the government focuses on smart city initiatives. The automotive sector's growth is also contributing to the rising need for innovative parking solutions.

Automated Parking Systems Market Trends in Thailand

Thailand's real estate and commercial infrastructure development are key drivers for the adoption of automated parking systems. The integration of IoT and AI in parking management systems is emerging as a critical trend.

Automated Parking Systems Consolidation in Japan

Japan's highly urbanized environment and advanced technology adoption make it a hotspot for automated parking system consolidation. Companies like Westfalia Technologies are investing in local partnerships to strengthen their presence.

Automated Parking Systems Updation in South Korea

South Korea is updating its urban infrastructure by incorporating next-gen automated parking solutions, supported by government smart city projects and increasing demand for space-saving technologies.

Automated Parking Systems Opportunities in Singapore

Singapore's dense urban environment and emphasis on sustainability create significant opportunities for automated parking system providers. Smart parking solutions are being integrated with city planning initiatives.

Automated Parking Systems Growth in the United States

The U.S. market is expanding with growing urban congestion and smart city deployments. Innovations from companies such as Stanley Robotics and Tesla Inc. are driving increased adoption.

Automated Parking Systems Trends in China

China leads in automated parking system adoption, supported by booming urban populations and government initiatives promoting smart infrastructure. The demand for efficient parking solutions is rising in megacities like Shanghai and Beijing.

Automated Parking Systems Consolidation in Europe

Europe is witnessing consolidation with key players merging to provide integrated automated parking solutions. Environmental regulations and urban space constraints drive demand for innovative parking technologies.

Key Recent Developments

In 2024, Stanley Robotics secured a major contract in the U.S. to deploy automated parking systems at multiple airports, enhancing operational efficiency.

Westfalia Technologies acquired a regional parking solutions provider in Europe in late 2023 to expand its product portfolio and geographic reach.

Tesla Inc. announced the integration of automated parking technology in their latest electric vehicle lineup in early 2024, pushing the boundaries of autonomous parking.

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Automated Parking Systems Market Segmentation:

by Automation Level

Semi-automated
Fully-automated

The fully automated segment has the highest revenue share in 2023. A fully automated parking system is akin to robotic valet parking. The driver must drive the car till it approaches the entrance to an APS. The car must be vacated, with the driver and all passengers getting out. The driver pays at a nearby automated terminal and receives his ticket.

by Platform Type

Palleted
Non-palleted

By Platform Type, the palleted segment dominated the automated parking systems market, with a CAGR in 2023. Because automobiles cannot be pushed or lifted without the driver, these technologies facilitate vehicle mobility in the parking spot. As more people choose to work from home, these parking solutions are projected to evolve in the future, improving vehicle security, improving the cityscape, and providing higher parking density than traditional car parks. These solutions do not require car-sized accommodations, which simplifies transportation processes.

by Component

Handwear
Software

According to component type, the automated parking systems market is segmented into hardware and software segments. The hardware sector dominates the smart parking system market, which comprises pucks, cameras and LPRs, smart meters, signage, and parking gates. Smart meters and cameras are commonly used for on-street parking. Cities' increased demand for on-street parking has resulted in widespread hardware implementation.

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Major companies profiled in the market report include:

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)

Key questions answered in the Automated Parking Systems Market are:

What is Automated Parking Systems?
What was the Automated Parking Systems market size in 2023?
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 are the factors restraining the growth of the Automated Parking Systems Market?
What is the demand pattern of the Automated Parking Systems Market?
What major challenges could the Automated Parking Systems Market face in the future?

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