Automated Parking System Market is expected to grow with a CAGR of 10.00% from 2023 to 2030.
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This report describes the global market size of Automated Parking System Market from 2018 to 2021 and its CAGR from 2018 to 2021, and also forecasts its market size to the end of 2030 and its expected to grow with a CAGR of 10.00% from 2023 to 2030.
A technological solution called an Automated Parking System (APS) is made to automate the process of parking cars in assigned spots. An automated parking system uses a variety of technologies to expedite and improve the parking process, in contrast to traditional parking facilities where drivers must manually navigate through parking lots or structures to find a parking spot. With APS, parking can be done more efficiently, more space is used, and there is less of an environmental impact than with conventional parking techniques.
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Due to the COVID-19 pandemic and Russia-Ukraine War Influence, the global market for Automated Parking System Market estimated at US $ million in the year 2022, is projected to reach a revised size of US$ million by 2030, growing at a CAGR of 10.00% during the forecast period 2023-2030. North American market for Automated Parking System Market is estimated to increase from $million in 2022 to reach $ million by 2030, at a CAGR of 10.00% during the forecast period of 2023 through 2030.
For geography segment, regional supply, demand, major players, price is presented from 2018 to 2030. This report cover following regions:
North America
Asia-Pacific
Europe
Middle East and Africa
South America
The key countries for each regions are also included such as United States, China, Japan, India, Korea, ASEAN, Germany, France, UK, Italy, Spain, CIS, and Brazil etc.
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For competitor segment, the report include global key players of Automated Parking System Market as well as some small players. The information for each competitor include:
Company Profile
Main Business Information
SWOT Analysis
Sales Volume, Revenue, Price and Gross Margin
Market Share
By Component
Hardware
Software
With a market share of 81.7% in 2022, the hardware segment is predicted to expand at the quickest rate of 16.1% CAGR. Microcontrollers, GSM modules, RF modules, displays, motor drivers, ultrasonic sensors, DC motors, and camera units are among the hardware components. The overall system architecture varies amongst parking system projects. Numerous solutions, including web-based, sensor-based, license plate recognition, mobile-based parking, guidance systems, and RFID solutions, can be integrated into the systems, depending on the available funds. The largest portion of the automated parking system's overall cost is attributed to hardware systems. As a result, during the projected period, the segment is anticipated to maintain its dominance.
By Structure Type
AGV system
Silo system
Tower system
Rail Guided Cart (RGC) system
Puzzle system
Shuttle system
In 2022, the tower system segment's revenue share was 26.6%. Tower systems are the most effective because they take advantage of vertical space's advantages and save a lot of horizontal space. To meet various height restrictions, these solutions can be constructed and designed in lower configurations. The parking solution market is predicted to grow significantly over the coming years due to increased advancement and automation in the space.
By Platform Type
Palleted
Non-palleted
With a 69.5% revenue share in 2022, the palleted segment led the automated parking system market. Since a driver is required to lift or move a vehicle, these solutions make parking spaces easier to navigate. These parking solutions are expected to grow at an attractive rate in the future due to their increased vehicle security, enhanced cityscape, and higher parking density when compared to traditional car parks, which is in line with the growing trend of people choosing work from home options. These solutions minimize the complexity of transport mechanisms by not requiring any adjustments for car size.
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By Automation Level
Fully automated
Semi-automated
With a revenue share of 67.9% in 2022, the fully automated segment is predicted to grow at the fastest rate of 19.3% CAGR. Developing economies have a strong demand for fully automated parking systems due to their advantages over semi-automated solutions, including increased efficiency, reduced emissions, increased capacity, and improved safety and convenience. The decision between fully automated and semi-automated solutions, however, depends on a number of variables, including the project's application, location, and available budget. Higher capacity systems are frequently fully automated, whereas lower capacity systems continue to be semi-automated. Fully automated parking solutions are completely touchless and made to function without the need for human intervention, especially in light of the COVID-19 pandemic.
By End Use
Residential
Commercial
Mixed-use
In 2022, the commercial segment's revenue share was 43.9%. This is explained by the rising demand for parking spots in retail centers and office buildings. There are fewer spaces available on the road due to the increasing number of vehicles, which causes traffic jams and increased air pollution in major cities worldwide. The demand and adoption for automated parking systems is anticipated to grow at a promising rate in the commercial space in the near future due to the many advantages these systems offer in addressing these problems, in addition to advantages like improved security and optimal use of available space.
By Company
Skyline Parking AG
Westfalia Parking
PARKPLUS Inc.
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