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Base Year
Historical Year
Forecast Year
The global automated parking systems market was approximately USD 2.10 billion in 2023. The market is estimated to grow at a CAGR of 15.4% in the forecast period of 2024-2032, reaching a value of around USD 7.63 billion by 2032.
Global Automated Parking Systems Market Report Summary | Description | Value |
Base Year | USD Billion | 2023 |
Historical Period | USD Billion | 2018-2023 |
Forecast Period | USD Billion | 2024-2032 |
Market Size 2023 | USD Billion | 2.10 |
Market Size 2032 | USD Billion | 7.63 |
CAGR 2018-2023 | Percentage | XX% |
CAGR 2024-2032 | Percentage | 15.4% |
CAGR 2024-2032 - Market by Region | Asia Pacific | 17.7% |
CAGR 2024-2032 - Market by Country | India | 20.4% |
CAGR 2024-2032 - Market by Country | China | 17.0% |
CAGR 2024-2032 - Market by Component | Hardware | 16.9% |
CAGR 2024-2032 - Market by End-Use | Commercial | 17.2% |
Market Share by Country 2023 | Japan | 4.6% |
An automated car parking system is an automated system that facilitates the parking of cars on multiple levels by utilising technologies like IoT. The cars are stacked on various vertical levels, which reduces land utilisation and decreases the walking distance from the parking facility.
Automated parking lots can accommodate more driverless vehicles as compared to traditional parking facilities while reducing traffic congestion and illegal parking occupancy, which boosts the growth of the automated parking systems market. They also improve customer experience and enable users to save fuel and time and optimally find empty spaces.
Several government initiatives and stringent regulations to boost the development of smart cities are expected to further fuel the market growth in the coming years. Automated parking systems automatically update the parking location and avoid bottlenecks at exits and entrances.
Another crucial trend in automated parking systems market is the growing implementation of advanced technologies, such as high-end sensors, advanced parking meters, and data analytics, among others, in automated parking systems to easily book parking slots and inform drivers about the occupancy status of the parking lot.
As per the automated parking systems market dynamics and trends, Srinagar International Airport in India announced the construction of an automated vehicle parking system, in July 2024 which can reduce human interference and enhance the parking experience.
According to the automated parking systems industry analysis, the data from the Parking Advisory Group stated that the parking sector in the USA was worth USD 121 billion in 2022 and this sector was expected to reach a total revenue of USD 144 billion in 2023. Industry reports have also stated that there were around 700 million to 2 billion parking spaces in the USA, which if roughly calculated, stated that every registered vehicle in the country had 2.5 to 7 parking spots. This growth rate of parking rate indicates a positive upward trend for the market.
Robotic Parking Systems Inc. is in the process of developing automated car parking facilities that offer twice the storage capacity of a conventional multi-story car park. This car parking facility is expected to offer savings of 30% to 40% in development costs. For instance, a 765 car-free parking system was built in Dubai, UAE near Ibn Battuta shopping mall. This automated car parking system consists of seven levels at a total of 18 m in height and saves a lot of space, which can contribute to the growth of the automated parking systems industry.
Moreover, Affordable Robotic and Automation Limited (ARAPL) announced that it has established a partnership with ARAPL RaaS, a subsidiary of ARAPL for the development of a mobile robotic multi-level car parking system which will be in use from December 2023 in India. This initiative is expected to boost the market growth in developing countries such as India and further enhance the automated parking systems industry revenue.
The parking control space is rapidly evolving with trends and technological updates, shaping the future parking experience.
Smart Sensors for Parking Management
License Plate Recognition Systems
Parking App Integration
Smart Parking and Smart City Infrastructure
Automated Parking Systems
Based on component, the market is divided into hardware and software. On the basis of structure, the market is classified into AGV (Automated Guided Vehicles), rail guided cart (RGC) system, silo system, shuttle system, tower system, and puzzle system.
By platform, the market is categorised into palleted and non-palleted. Based on automation level, the market is divided into fully automated and semi-automated. Based on parking level, the market is categorised into less than level 5, level 5-level 10, and more than level 10.
On the basis of design model, the market is classified into hydraulic and electro-mechanical. Based on end-use, the automated parking systems industry segmentation includes residential, commercial, government parking lots, and mixed-use. The major regional markets for automated parking systems are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global automated parking systems market covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
Fully automated parking spaces hold a substantial portion of the automated parking systems market share. Fully automated parking lots offer high capacity, better efficiency, reduced fuel emission, and enhanced convenience to drivers.
These commercial spaces also offer parking convenience, surge parking flexibility, and reduce construction costs, due to which they are preferred in shopping complexes and malls. Furthermore, fully automated parking facilities reduce land usage and labour costs while providing more compact space for car parking on vertical levels.
Robotic Parking Systems, Inc., founded in 1994, is an automated parking company that develops large-scale parking garages. The company, with its headquarters in Florida, the United States, provides patented technology for the development of projects involving numerous parking spaces.
Lödige Industries GmbH, a global supplier of lift solutions and intralogistics systems in automated parking systems industry, was founded in 1948 and has its headquarters in Walburg, Germany. It provides logistics systems to a broad range of sectors such as residential, office, and retail.
ShinMaywa Industries, Ltd., founded in 1949 and based in Tokyo, Japan, is best known for the manufacturing of aircraft. Some of its other popular products include parking equipment, water treatment equipment, special-purpose trucks, and wire processing systems.
Other market players include Fata Automation, Inc, Park Plus, Inc., Robotic Parking Systems, Inc., Westfalia Technologies, Inc, Fehr Lagerlogistik AG, and Unitronics (1989) (R” G) Ltd., among others.
The presence of key players in Europe significantly is driving the demand of automated parking systems market. Moreover, there is a rising adoption of automated parking systems in the UK, Denmark, Germany, and Switzerland, among others, to improve parking efficiency, reduce space utilisation, and lower fuel emissions. Various government bodies and commercial spaces are also promoting the implementation of automated parking systems to combat traffic congestion and parking issues.
CAGR 2024-2032 - Market by | Country |
India | 20.4% |
China | 17.0% |
UK | 14.1% |
USA | 13.7% |
Germany | 12.7% |
Canada | XX% |
France | XX% |
Italy | XX% |
Japan | 10.6% |
Australia | XX% |
Saudi Arabia | XX% |
Brazil | XX% |
Mexico | XX% |
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Component |
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Breakup by Structure |
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Breakup by Platform |
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Breakup by Automation Level |
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Breakup by Parking Level |
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Breakup by Design Model |
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Breakup by End-Use |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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Automated Parking Systems Market Size
Automated Parking Systems Market Growth
Automated Parking Systems Market Trends
Automated Parking Systems Market Share
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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In 2023, the market reached an approximate value of USD 2.10 billion.
The market is projected to grow at a CAGR of 15.4% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032, reaching a value of around USD7.63 billion by 2032.
The major market drivers are scarcity of parking facilities, increasing number of vehicles, and rapid urbanisation in developing economies.
The key trends of the market include increased adoption of fully automated parking lots, the development of advanced technologies such as smart parking meters and sensors, and favourable government initiatives promoting smart cities.
The major regions in the market are North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The different automation levels of the product are fully automated and semi-automated.
The different parking levels considered in the market report include less than level 5, level 5-level 10, and more than level
The key market players are Robotic Parking Systems, Inc., Fata Automation, Inc., Lödige Industries GmbH, ShinMaywa Industries, Ltd., Park Plus, Inc., Robotic Parking Systems, Inc., Westfalia Technologies, Inc, Fehr Lagerlogistik AG, and Unitronics (1989) (R” G) Ltd., among others.
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Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
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+91-858-608-1494
Philippines
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+63 287899028, +63 967 048 3306
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+44-753-713-2163
United States (Head Office)
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+1-415-325-5166
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124
United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124
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