Top Market Shifts Transforming the Automated Parking System Market Landscape: Key Insights

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What Is the Expected CAGR for the Automated Parking System Market Through 2025?
In recent years, we've seen a quick expansion in the market size for automated parking systems. The market, presently worth $2.34 billion in 2024, is projected to increase to $2.6 billion by 2025, with a compound annual growth rate (CAGR) of 11.1%. The historic period's growth can be credited to factors such as limited space in city areas, environmental and sustainability issues, relief from traffic congestion, enhancements in safety and security, and increased adoption in high-density areas.

What's the Projected Size of the Global Automated Parking System Market by 2029?
Rapid expansion is anticipated in the automated parking system industry in the coming years, with the market projected to soar to $4.77 billion by 2029, demonstrating a compound annual growth rate (CAGR) of 16.4%. The acceleration during the projected period can be credited to the surge of electric vehicles, customer requirement for convenience, integration with smart cities, and sustainable urban progression. Urbanization imbued with the challenge of limited space, issues of traffic congestion and accessibility, advancements in technology, along with considerations for safety and security are among the principal trends expected within this forecasted timeframe.

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Top Growth Drivers in the Automated Parking System Industry: What's Accelerating the Market?
The surge in tall buildings and structures is anticipated to fuel the expansion of the automated parking system market. Tall buildings, which range from 75 to 491 feet in height, often incorporate automated parking systems. These systems enhance earthquake resilience, enable safety mechanisms, and offer support for pallets situated beneath vehicles. For instance, in July 2022, the Building Safety Programme Monthly Data Release report by the UK government website, GOV.UK, revealed that by the end of that month, remediation work had either been concluded or initiated in 95% (462) of all identified tall residential and publicly owned structures in England. Thus, the proliferation of tall structures propels the growth of the automated parking system market.

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What Trends Will Shape the Automated Parking System Market Through 2029 and Beyond?
Leading firms in the automated parking system market are concentrating on introducing inventive solutions, such as advanced automated parking systems (AAPS), to improve parking efficiency and maximize the use of space. An AAPS is a highly sophisticated parking solution that completely automates the process of parking and retrieving vehicles. For instance, in August 2024, Veer Savarkar International Airport, located in India, implemented an Advanced Automated Parking System (AAPS) to improve the parking experience for passengers. This state-of-the-art system includes sensor-based boom barriers for automatic vehicle control, CCTV monitoring for security, and automatic ticket dispensers to make the ticketing process more efficient. The aim of the AAPS is to decrease manual interaction, provide clear parking fees, and incorporate time-stamping at crucial points for enhanced precision.

What Are the Main Segments in the Automated Parking System Market?
The automated parking systemmarket 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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Which Top Companies are Driving Growth in the Automated Parking System Market?
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.

Which Regions Will Dominate the Automated Parking System Market Through 2029?
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

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