[198 Pages Report] The Automated Parking System Market size was estimated at USD 3.02 billion in 2023 and expected to reach USD 3.55 billion in 2024, at a CAGR 18.02% to reach USD 9.64 billion by 2030.
An Automated Parking System (APS) is an advanced and technologically-driven parking solution designed to optimize land use, enhance security, reduce environmental impact, and increase overall efficiency in managing and utilizing parking spaces. It involves a combination of mechanical hardware, software integration, and sophisticated algorithms that facilitate the automatic parking of vehicles in designated spots within a multi-level or compact structure without any manual intervention from the driver. The increasing number of vehicles worldwide is leading to a need for more parking spaces in urban areas. As a result, there is a growing demand for efficient parking management systems that maximize space utilization while reducing traffic congestion. However, lack of standardization across automated parking systems can create compatibility issues between various manufacturers’ products. Nevertheless, advancements in robotics and software technologies have expanded the potential applications for automated parking systems.
Automation Level: Burgeoning adoption of semi-automated parking system owing to its enhanced convenience and accessibility to users
Fully automated parking systems (APS) offer a complete hands-free parking experience for the user, from vehicle entry to retrieval. These systems involve advanced technology such as sensors, cameras, laser guidance, and software algorithms to autonomously maneuver vehicles into available parking spaces. Fully automated APS include reduced parking space requirements, minimal human intervention, optimized vehicle storage capacity, enhanced security measures, and lower emissions due to reduced idling time. Semi-automated APS provides partial assistance during the parking process by combining both manual operations and automation features. Semi-automated APS consists of simplified parking processes on constrained sites or irregular layouts where traditional ramps could be inefficient or impossible to install; they also aid users with mobility challenges who require more accessible parking options. Fully automated systems maximize space efficiency and minimize human intervention; however, they may come at a higher initial investment cost, while semi-automated systems offer more convenience and accessibility to users while maintaining a balance between manual operations and technology assistance.
System Type: Significant usage of hardwares in automated parking system for managing vehicle storage and movement
An automated parking system requires various essential hardware components to operate seamlessly, ensuring maximized vehicle storage capacity and efficient parking processes. Hardware components include entry and exit terminals, sensors, cameras, ticket dispensers, control panels, lifts or conveyor belts for vehicle movement, and the structural frame. Each of these elements is vital in maintaining convenience and security for users. Software is an integral component to ensure the smooth functioning of an automated parking system by managing vehicle entry and exit data along with coordinating the precise movement of vehicles within the facility. The software features typically comprise reservation management systems, payment processing modules, user apps for convenient remote access and monitoring, and maintenance management tools for optimal performance. Hardware provides the physical infrastructure for managing vehicle storage and movement, while software ensures smooth coordination, communication, monitoring, and control over the entire process.
Design Model: Use of electro-mechanical APS owing to their energy efficiency and reduced noise levels
Electro-mechanical APS utilizes a combination of electric motors, sensors, and mechanical components to transport and park vehicles in designated slots. These systems offer precise control and smooth operation while ensuring minimal energy consumption and environmental impact. Electro-mechanical APS is preferred due to its energy efficiency, low maintenance costs, reduced noise levels, and the need for precise control over vehicle movements within the parking facility. Hydraulic automated parking systems rely on hydraulic power to lift, lower, and move vehicles within the parking structure. These systems typically require larger pumps and more robust infrastructure compared to their electro-mechanical counterparts but can be advantageous due to their high load-bearing capacity.
End-User: Adoption of automated parking systems in commercial settings to improve space optimization for maximizing revenue-generating utilities
In the commercial sector, APS are employed in office buildings, shopping malls, retail centers, and airports to maximize space utilization by reducing the footprint required for parking and increasing the availability of spaces for additional revenue-generating purposes. The mixed-use segment comprises establishments that combine residential, commercial, and retail spaces, such as urban developments and high-rise buildings. These projects have diverse needs for APS, including efficient space management due to limited land resources, sustainability initiatives with reduced carbon emissions from vehicular movement within the facility, and enhanced security measures for residents and patrons alike. A growing trend among residential communities such as condominiums and gated communities is to implement automated parking systems for increased convenience, security, and luxury. They prefer APS systems to ensure increased safety measures for both vehicles and residents.
Regional Insights
The Americas observes an advancing automated parking system (APS) market driven by the increasing adoption of smart city technologies and stringent regulations for reducing vehicle emissions. Countries such as Brazil and Mexico are progressively investing in implementing APS to address their growing parking challenges. Asia presents significant growth opportunities for the APS market to combat its escalating parking crises. Governments in these countries are actively promoting intelligent transportation systems that incorporate automation technologies such as APS into their urban infrastructure development plans. Europe has a relatively mature market for APS, driven by factors such as limited parking spaces in urban areas, strict emission regulations, and the growing need for sustainable city development. Germany, France, Italy, Spain, and the United Kingdom are some of the key contributors to the region’s market growth. European companies are currently focusing on developing innovative products that meet the unique requirements of European urban centers while adhering to regulatory standards and providing eco-friendly solutions. As cities in the region strive towards becoming smart cities with sustainable infrastructure development plans, the need for APS is expected to rise.
FPNV Positioning Matrix
The FPNV Positioning Matrix is pivotal in evaluating the Automated Parking System Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Automated Parking System Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Key Company Profiles
The report delves into recent significant developments in the Automated Parking System Market, highlighting leading vendors and their innovative profiles. These include AJ Automated Parking Systems Co., Ltd., Amano Corporation, Asura Technologies Ltd., DESIGNA Verkehrsleittechnik GmbH, E Star Engineers Private Limited, Eros Elevators & Escalators Pvt. Ltd., FATA Automation, Fehr Lagerlogistik AG, Harding Steel, Inc., Klaus Multiparking GmbH, L?dige Industries GmbH, Mitsubishi Heavy Industries Machinery Systems, Nexstep Multiparking Pvt. Ltd., Park Plus, Inc., Parkmatic, PARKPIU’ S.R.L, Robert Bosch GmbH, Robotic Parking Systems, Inc., RR Global, Sieger Spintech Equipments Pvt. Ltd., Siemens AG, SKIDATA GmbH, Sotefin Parking Pvt. Ltd., SWARCO AG, Swiss-Park GmbH, Tedra Automotive Solutions Pvt. Ltd., Valeo SA, Verra Mobility, Westfalia Technologies, Inc., and W?HR Autoparksysteme GmbH.
Market Segmentation & Coverage
This research report categorizes the Automated Parking System Market to forecast the revenues and analyze trends in each of the following sub-markets:
- Automation Level
- Fully-automated
- Semi-automated
- System Type
- Hardware
- Software
- Design Model
- Electro-mechanical
- Hydraulic
- Platform Type
- Non-palleted
- Palleted
- Parking Level
- Less than Level 5
- Level 5-Level 10
- More than Level 15
- Navigation System
- Automated Guided Vehicles
- Crane Automated Parking System
- Puzzle type Automated Parking System
- Rail Guided Carts Automated Parking System
- Shuttle Automated Parking System
- Silo Automated Parking System
- Tower Automated Parking System
- End-User
- Commercial
- Mixed-use
- Residential
- Region
- Americas
- Argentina
- Brazil
- Canada
- Mexico
- United States
- California
- Florida
- Illinois
- New York
- Ohio
- Pennsylvania
- Texas
- Asia-Pacific
- Australia
- China
- India
- Indonesia
- Japan
- Malaysia
- Philippines
- Singapore
- South Korea
- Taiwan
- Thailand
- Vietnam
- Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom
- Americas
The report offers valuable insights on the following aspects:
- Market Penetration: It presents comprehensive information on the market provided by key players.
- Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
- Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
- Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
- Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.
The report addresses key questions such as:
- What is the market size and forecast of the Automated Parking System Market?
- Which products, segments, applications, and areas should one consider investing in over the forecast period in the Automated Parking System Market?
- What are the technology trends and regulatory frameworks in the Automated Parking System Market?
- What is the market share of the leading vendors in the Automated Parking System Market?
- Which modes and strategic moves are suitable for entering the Automated Parking System Market?
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