Product Code: GVR-4-68039-054-2
Automated Parking System Market Growth & Trends:
The global automated parking system market size is expected to reach USD 6.66 billion by 2030, registering a CAGR of 17.7% from 2023 to 2030, according to a new report by Grand View Research, Inc. The number of on-road vehicles has increased exponentially across major countries and has given rise to traffic congestion and parking space problems. This has resulted in the emergence of automated parking systems. Moreover, an automated solution improves convenience for vehicle owners or drivers by automatically parking the vehicles at a vacant spot available in the system. Additionally, increasing traffic congestion and inadequate parking space availability in the cities are driving the market growth.
The expansion of the infrastructure drives the marketplace for an automated parking system, along with the growing number of luxury and high-rise buildings and rising support from government bodies. Owing to these benefits, the demand for automated parking systems is anticipated to extend in residential and commercial buildings. Moreover, smart city initiatives across several countries are also driving the demand for advanced and smart automated solutions to reduce parking and pollution problems, the local public faces.
However, the rising number of vehicles of varying sizes in urban areas challenges the growth of the market. Moreover, the high initial investment is required for construction and maintenance per parking space in smart facilities, which increases the initial maintenance and operating costs of these spaces, which could also hinder the growth. However, the growing number of luxury and high-rise buildings, rising support from government bodies, and the increasing willingness of developers drive the marketplace for an automated parking system. Furthermore, the expansion of the infrastructure industry is expected to supply tremendous opportunities for installing an automated parking system in under-construction and newly constructing buildings.
Automated Parking System Market Report Highlights:
- The hardware components contribute to the most significant share of the entire cost of the automated parking system. As a result, the hardware component segment accounts for a market share of over 83.9% in 2022
- The tower system segment accounted for the largest revenue share over 27.4%, in 2022. These systems are the most efficient as they save significant horizontal space and take full advantage of the vertical space in a parking facility. Thereby, the segment is anticipated to register significant growth over the forecast period
- The palleted segment dominated the automated parking system market and accounted for a revenue share of 68.7% in 2022. These solutions simplify the movement of vehicles in the parking space as the vehicles cannot be moved or lifted without the driver.
- The Asia Pacific region is expected to grow at the fastest CAGR of 19.3% during the forecast period. Increasing vehicle fleet, coupled with the low availability of spaces, is anticipated to create significant demand for automated parking systems in the region
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.1.1. Component
- 1.1.2. Structure type
- 1.1.3. Platform type
- 1.1.4. Automation level
- 1.1.5. End use
- 1.1.6. Regional scope
- 1.1.7. Estimates and forecast timeline
- 1.2. Research Methodology
- 1.3. Information Procurement
- 1.3.1. Purchased database
- 1.3.2. GVR's internal database
- 1.3.3. Secondary sources
- 1.3.4. Primary research
- 1.3.5. Details of primary research
- 1.4. Information or Data Analysis
- 1.5. Market Formulation & Validation
- 1.6. Model Details
- 1.7. List of Secondary Sources
- 1.8. List of Primary Sources
- 1.9. Objectives
Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segment Outlook
- 2.2.1. Component outlook
- 2.2.2. Structure type outlook
- 2.2.3. Platform type outlook
- 2.2.4. Automation level outlook
- 2.2.5. End use outlook
- 2.2.6. Regional outlook
- 2.3. Competitive Insights
Chapter 3. Automated Parking System Market Variables, Trends & Scope
- 3.1. Market Lineage Outlook
- 3.2. Industry Value Chain Analysis
- 3.3. Market Dynamics
- 3.3.1. Market driver analysis
- 3.3.2. Market restraint analysis
- 3.3.3. Market opportunity analysis
- 3.4. Automated Parking System Market Analysis Tools
- 3.4.1. Industry analysis - Porter's
- 3.4.1.1. Supplier power
- 3.4.1.2. Buyer power
- 3.4.1.3. Substitution threat
- 3.4.1.4. Threat of new entrant
- 3.4.1.5. Competitive rivalry
- 3.4.2. PESTEL analysis
- 3.4.2.1. Political landscape
- 3.4.2.2. Technological landscape
- 3.4.2.3. Economic landscape
- 3.4.2.4. Social landscape
Chapter 4. Automated Parking System Market : Component Estimates & Trend Analysis
- 4.1. Automated Parking System Market: Key Takeaways
- 4.2. Automated Parking System Market: Movement & Market Share Analysis, 2022 & 2030
- 4.3. Hardware
- 4.3.1. Hardware market estimates and forecasts, 2018 to 2030 (USD Million)
- 4.4. Software
- 4.4.1. Software market estimates and forecasts, 2018 to 2030 (USD Million)
Chapter 5. Automated Parking System Market: Structure Type Estimates & Trend Analysis
- 5.1. Automated Parking System Market: Key Takeaways
- 5.2. Automated Parking System Market: Movement & Market Share Analysis, 2022 & 2030
- 5.3. AGV System
- 5.3.1. AGV system market estimates and forecasts, 2018 to 2030 (USD Million)
- 5.4. Silo System
- 5.4.1. Silo system market estimates and forecasts, 2018 to 2030 (USD Million)
- 5.5. Tower System
- 5.5.1. Tower system market estimates and forecasts, 2018 to 2030 (USD Million)
- 5.6. Rail Guided Cart (RGC) System
- 5.6.1. Rail guided cart (RGC) system market estimates and forecasts, 2018 to 2030 (USD Million)
- 5.7. Puzzle System
- 5.7.1. Puzzle system market estimates and forecasts, 2018 to 2030 (USD Million)
- 5.8. Shuttle System
- 5.8.1. Shuttle system market estimates and forecasts, 2018 to 2030 (USD Million)
Chapter 6. Automated Parking System Market: Platform Type Estimates & Trend Analysis
- 6.1. Automated Parking System Market: Key Takeaways
- 6.2. Automated Parking System Market: Movement & Market Share Analysis, 2022 & 2030
- 6.3. Palleted
- 6.3.1. Palleted market estimates and forecasts, 2018 to 2030 (USD Million)
- 6.4. Non-palleted
- 6.4.1. Non-palleted market estimates and forecasts, 2018 to 2030 (USD Million)
Chapter 7. Automated Parking System Market : Automation Level Estimates & Trend Analysis
- 7.1. Automated Parking System Market: Key Takeaways
- 7.2. Automated Parking System Market: Movement & Market Share Analysis, 2022 & 2030
- 7.3. Fully Automated
- 7.3.1. Fully automated market estimates and forecasts, 2018 to 2030 (USD Million)
- 7.4. Semi-automated
- 7.4.1. Semi-automated market estimates and forecasts, 2018 to 2030 (USD Million)
Chapter 8. Automated Parking System Market : End Use Estimates & Trend Analysis
- 8.1. Automated Parking System Market: Key Takeaways
- 8.2. Automated Parking System Market: Movement & Market Share Analysis, 2022 & 2030
- 8.3. Residential
- 8.3.1. Residential market estimates and forecasts, 2018 to 2030 (USD Million)
- 8.4. Commercial
- 8.4.1. Commercial market estimates and forecasts, 2018 to 2030 (USD Million)
- 8.5. Mixed-use
- 8.5.1. Mixed-use market estimates and forecasts, 2018 to 2030 (USD Million)
Chapter 9. Automated Parking System Market: Regional Estimates & Trend Analysis
- 9.1. Regional Outlook
- 9.2. Automated Parking System Market by Region: Key Takeaway
- 9.3. North America
- 9.3.1. North America Market estimates and forecasts, 2018 to 2030 (Revenue, USD Million)
- 9.3.2. U.S.
- 9.3.2.1. U.S. Market estimates and forecasts, 2018 to 2030 (Revenue, USD Million)
- 9.3.3. Canada
- 9.3.3.1. Canada Market estimates and forecasts, 2018 to 2030 (Revenue, USD Million)
- 9.4. Europe
- 9.4.1. Europe Market estimates and forecasts, 2018 to 2030 (Revenue, USD Million)
- 9.4.2. UK
- 9.4.2.1. UK Market estimates and forecasts, 2018 to 2030 (Revenue, USD Million)
- 9.4.3. Germany
- 9.4.3.1. Germany Market estimates and forecasts, 2018 to 2030 (Revenue, USD Million)
- 9.4.4. France
- 9.4.4.1. France Market estimates and forecasts, 2018 to 2030 (Revenue, USD Million)
- 9.5. Asia Pacific
- 9.5.1. Asia Pacific Market estimates and forecasts, 2018 to 2030 (Revenue, USD Million)
- 9.5.2. Japan
- 9.5.2.1. Japan Market estimates and forecasts, 2018 to 2030 (Revenue, USD Million)
- 9.5.3. China
- 9.5.3.1. China Market estimates and forecasts, 2018 to 2030 (Revenue, USD Million)
- 9.5.4. India
- 9.5.4.1. India Market estimates and forecasts, 2018 to 2030 (Revenue, USD Million)
- 9.5.5. Australia
- 9.5.5.1. Australia Market estimates and forecasts, 2018 to 2030 (Revenue, USD Million)
- 9.5.6. South Korea
- 9.5.6.1. South Korea Market estimates and forecasts, 2018 to 2030 (Revenue, USD Million)
- 9.6. Latin America
- 9.6.1. Latin America Market estimates and forecasts, 2018 to 2030 (Revenue, USD Million)
- 9.6.2. Brazil
- 9.6.2.1. Brazil Market estimates and forecasts, 2018 to 2030 (Revenue, USD Million)
- 9.6.3. Mexico
- 9.6.3.1. Mexico Market estimates and forecasts, 2018 to 2030 (Revenue, USD Million)
- 9.7. MEA
- 9.7.1. MEA Market estimates and forecasts, 2018 to 2030 (Revenue, USD Million)
- 9.7.2. Saudi Arabia
- 9.7.2.1. Saudi Arabia Market estimates and forecasts, 2018 to 2030 (Revenue, USD Million)
- 9.7.3. South Africa
- 9.7.3.1. South Africa Market estimates and forecasts, 2018 to 2030 (Revenue, USD Million)
- 9.7.4. UAE
- 9.7.4.1. UAE Market estimates and forecasts, 2018 to 2030 (Revenue, USD Million)
Chapter 10. Competitive Landscape
- 10.1. Recent Developments & Impact Analysis, By Key Market Participants
- 10.2. Market Participant Categorization
- 10.2.1. Skyline Parking AG
- 10.2.1.1. Company overview
- 10.2.1.2. Financial performance
- 10.2.1.3. Product benchmarking
- 10.2.1.4. Strategic initiatives
- 10.2.2. Westfalia Parking
- 10.2.2.1. Company overview
- 10.2.2.2. Financial performance
- 10.2.2.3. Product benchmarking
- 10.2.2.4. Strategic initiatives
- 10.2.3. Unitronics
- 10.2.3.1. Company overview
- 10.2.3.2. Financial performance
- 10.2.3.3. Product benchmarking
- 10.2.3.4. Strategic initiatives
- 10.2.4. Klaus Multiparking GmbH
- 10.2.4.1. Company overview
- 10.2.4.2. Financial performance
- 10.2.4.3. Product benchmarking
- 10.2.4.4. Strategic initiatives
- 10.2.5. Robotic Parking Systems, Inc.
- 10.2.5.1. Company overview
- 10.2.5.2. Financial performance
- 10.2.5.3. Product benchmarking
- 10.2.5.4. Strategic initiatives
- 10.2.6. City Lift Parking, LLC
- 10.2.6.1. Company overview
- 10.2.6.2. Financial performance
- 10.2.6.3. Product benchmarking
- 10.2.6.4. Strategic initiatives
- 10.2.7. Park Plus Inc.
- 10.2.7.1. Company overview
- 10.2.7.2. Financial performance
- 10.2.7.3. Product benchmarking
- 10.2.7.4. Strategic initiatives
- 10.2.8. Wohr Parking System Pvt. Ltd.
- 10.2.8.1. Company overview
- 10.2.8.2. Financial performance
- 10.2.8.3. Product benchmarking
- 10.2.8.4. Strategic initiatives
- 10.2.9. Parkmatic
- 10.2.9.1. Company overview
- 10.2.9.2. Financial performance
- 10.2.9.3. Product benchmarking
- 10.2.9.4. Strategic initiatives
- 10.2.10. AutoMotion Parking Systems
- 10.2.10.1. Company overview
- 10.2.10.2. Financial performance
- 10.2.10.3. Product benchmarking
- 10.2.10.4. Strategic initiatives