Automated Parking System Market: Key Trends and Insights
The global Automated Parking System (APS) Market Growth is expected to witness significant growth during the forecast period from 2024 to 2032, driven by the increasing need for optimized urban space management, rising vehicle ownership, and advancements in smart city infrastructure. Automated parking systems, which park and retrieve cars using robotic technology, ease traffic in cities, cut down on parking time, and consume less space overall. Developers and urban planners are using automated parking systems to increase space efficiency, lower emissions, and improve user comfort as cities get denser and land becomes more limited.
According to market projections, the Automated Parking System Market is expected to grow at a CAGR of 17.8% over the forecast period, with an estimated market size of USD USD 2.10 billion in 2023, reaching over USD 7.78 billion by 2032.
Get Sample link:
https://www.snsinsider.com/sample-request/1018
Top Key Players
Wohr, Boomerang Systems, Klaus Multi Parking, FATA Automation, AJ Automated Parking System, CityLift, Mitsubishi Electric Corporation, Westfalia, Expert Parking, TAPS, Robotic Parking Systems Inc., and Unitronics
Market Overview
Automated parking systems (APS) use lifts, conveyors, and automated platforms to park cars in a small, vertical or horizontal arrangement while reducing the amount of space and volume needed.
In high-density metropolitan areas, where traditional parking facilities are unable to handle the increasing number of vehicles, these systems are gaining popularity. APS provides both temporary and permanent parking options and can be installed in public, business, and residential infrastructures.
Rising car ownership, urban space limits, increased awareness of smart city solutions, and the expanding use of smart technologies in infrastructure projects are some of the major factors propelling the market. By cutting down on the amount of time spent looking for parking spaces, APS also contributes to sustainability initiatives in urban settings by lowering carbon emissions.
Segmentation Analysis
The Automated Parking System Market can be segmented based on Component, Structure Type, Platform Type, Automation Level, End user and region.
Segmentation by Component:
- Hardware:
- Physical components of the automated parking system, including parking platforms, sensors, elevators, robots, and control systems.
- Software:
- Includes the software platforms for system management, user interfaces, monitoring, and control functions, such as mobile apps for users to interact with the system.
2. Segmentation by Structure Type:
- Automated Guided Vehicle (AGV) System:
- Uses automated vehicles to transport cars to and from parking spots. These systems often require less space and can navigate through predefined paths.
- Silo System:
- Features vertical storage spaces where vehicles are stacked, typically utilizing mechanical lifts to retrieve and park cars. This system maximizes space utilization in urban areas.
- Tower System:
- Similar to a silo system but structured as a tall tower. Vehicles are stored vertically, and retrieval is done through automated lifts, minimizing the footprint.
- Robotic Guided Cart (RGC) System:
- Employs robotic carts that move vehicles to designated parking spots, allowing for flexible parking layouts and efficient space usage.
- Puzzle System:
- Features a grid-like arrangement where vehicles are moved into and out of parking spots by shifting other vehicles. This system is efficient for maximizing space but can be complex.
- Shuttle System:
- Involves shuttles that transport vehicles to parking spots, often working in conjunction with vertical lifts to optimize space usage.
3. Segmentation by Platform Type:
- Surface Parking:
- Automated systems integrated into existing surface parking lots or designed for new surface-level developments.
- Multi-Story Parking:
- Systems designed for use in multi-story parking facilities, allowing for vertical stacking and space optimization.
- Underground Parking:
- Automated systems that utilize underground space, often in urban areas where surface space is limited, maximizing the land footprint.
4. Segmentation by Automation Level:
- Fully Automated:
- Systems that operate without any human intervention, from vehicle drop-off to retrieval, often involving advanced technologies such as AI and IoT.
- Semi-Automated:
- Systems that require some human interaction, such as vehicle drop-off, while the retrieval process may be automated.
- Manual Intervention Required:
- Systems that still rely on human input for various functions, including parking and retrieval, with automation only assisting in certain processes.
5. Segmentation by End Use:
- Commercial:
- Used in shopping malls, office buildings, airports, and commercial complexes where high traffic and efficient space usage are critical.
- Residential:
- Automated parking systems designed for residential buildings or communities, providing convenient parking solutions for residents.
- Public Parking:
- Systems installed in municipal parking facilities, enhancing parking availability and efficiency in urban areas.
- Hospitality:
- Automated parking solutions for hotels and resorts, offering convenience to guests and improving operational efficiency.
- Transportation Hubs:
- Systems integrated into transport hubs like airports and train stations, improving accessibility and user experience for travelers.
Buy Now Link:
https://www.snsinsider.com/checkout/1018
Regional Analysis
The Automated Parking System Market is experiencing growth across several regions, with varying levels of adoption based on factors such as urbanization, infrastructure development, and technological advancement.
- North America: The North American market is expected to witness significant growth, driven by increasing investments in smart city infrastructure and the rising need for parking solutions in densely populated cities. The U.S. and Canada are key markets, with major cities adopting APS to manage space constraints and improve urban mobility.
- Europe: Europe remains a leading region for the adoption of automated parking systems, particularly in countries such as Germany, the UK, and France. The region’s focus on sustainable urban planning and reducing CO2 emissions is driving demand for APS. Additionally, Europe’s strict building regulations encourage developers to maximize space efficiency, further boosting the market.
- Asia-Pacific: The Asia-Pacific region is expected to dominate the APS market during the forecast period, driven by rapid urbanization, rising vehicle ownership, and government initiatives promoting smart city solutions. China, Japan, and South Korea are leading the charge in APS adoption, with large-scale urban development projects incorporating automated parking solutions to address parking shortages.
- Rest of the World: Latin America and the Middle East & Africa are emerging markets for APS, driven by increasing urbanization and rising vehicle ownership. As these regions invest in modern infrastructure and smart city technologies, the demand for automated parking systems is expected to rise.
Key Trends in the Automated Parking System Market
- Growing Demand for Space Optimization: As urbanization intensifies, the demand for space optimization has become a critical factor driving the adoption of automated parking systems. APS allows for more efficient use of available space, enabling developers to maximize the number of parking spots in compact areas. This trend is particularly prominent in densely populated cities, where land is scarce, and traditional parking methods are becoming inefficient.
- Rise of Smart Cities: The increasing focus on smart city initiatives is driving the adoption of automated parking solutions worldwide. Smart cities aim to use technology and data-driven solutions to improve urban living conditions, and APS fits seamlessly into this vision by offering smart, automated, and connected parking options. Governments and municipalities are investing in smart city infrastructure that includes APS, which can be integrated with other smart systems such as traffic management, payment solutions, and electric vehicle (EV) charging stations.
- Adoption of Robotic Parking Solutions: The development of robotic parking systems, which use advanced robotics and AI-driven technologies to park vehicles, is revolutionizing the APS market. Robotic systems are faster, more efficient, and can park cars in tighter spaces than traditional systems, making them ideal for high-density urban areas and premium real estate projects. These systems also reduce human error and enhance safety.
- Increasing Vehicle Ownership and Urban Congestion: With the continued rise in vehicle ownership, especially in developing economies, urban congestion and parking challenges are becoming more acute. Automated parking systems offer a solution to the limited availability of parking spaces in crowded cities, allowing for higher parking capacity in a smaller footprint. APS reduces congestion by minimizing the time drivers spend searching for parking, improving traffic flow and reducing emissions.
- Integration of Electric Vehicle (EV) Charging Infrastructure: As electric vehicles (EVs) become more widespread, automated parking systems are being designed to integrate EV charging stations. This trend is particularly significant as cities push for greener transportation solutions. APS facilities equipped with EV charging capabilities offer a seamless and sustainable solution for urban dwellers who own electric cars, contributing to the overall growth of EV adoption.
Conclusion
The global Automated Parking System Market is set for rapid growth as urbanization, space constraints, and the need for smart infrastructure continue to drive demand. APS provides a creative answer to the problems caused by rising car ownership and a shortage of parking spaces in crowded cities. The industry is expected to grow dramatically over the next ten years due to developments in robotics, the incorporation of electric vehicle charging stations, and the growing emphasis on sustainable urban design.
About Us:
SNS Insider stands as a leading global market research and consulting company committed to shaping the future of industries worldwide. Our goal is to provide clients with the critical insights they need to thrive in constantly evolving markets. Utilizing cutting-edge techniques such as surveys, video interviews, and focus groups, we offer timely and accurate market intelligence and consumer insights, helping you make well-informed, confident decisions.
Contact Us:
Akash Anand – Head of Business Development & Strategy
Phone: +1-415-230-0044 (US)
English
Arabic
Français
Español
Português
Deutsch
Türkçe
Dutch
Russian
Romaian