Automated Parking System Market Expands with Commercial Parking Segment at a robust CAGR

The increasing global automated parking system market is driven by urbanization and population growth, space optimization and real estate value during the forecast period 2024-2028.

According to TechSci Research report, “Global Automated Parking System Market - Global Industry Size, Share, Trends, Opportunity, and Forecast 2018-2028, The Global Automated Parking System (APS) market is experiencing significant growth and transformation, driven by the pressing challenges of urbanization and the need for efficient parking solutions. This market, which has evolved rapidly in recent years, offers innovative responses to the increasing scarcity of parking spaces in densely populated urban areas.

Urbanization is a central driver of the APS market's expansion. As the global population continues to migrate toward cities, the demand for parking facilities has surged. However, urban landscapes often lack the space needed for traditional parking structures. APS technology addresses this challenge by optimizing parking space, stacking or arranging vehicles efficiently, allowing more cars to be accommodated in smaller areas. This efficiency makes APS a compelling choice for urban planners, businesses, and property developers.

Technological advancements are another key factor fueling the APS market's growth. Robotics, sensors, artificial intelligence (AI), and machine learning have significantly improved the speed, accuracy, and user experience of automated parking systems. Advanced sensors detect available parking spaces, guiding vehicles to them with precision. Robotics and automation technology enable smooth and reliable vehicle handling within APS facilities. AI algorithms enhance parking operations and vehicle retrieval, reducing wait times and enhancing user satisfaction.

Sustainability concerns also play a pivotal role in APS adoption. As cities focus on environmental consciousness and sustainable urban development, APS offers eco-friendly features. Some systems incorporate solar power, reducing reliance on grid electricity. Furthermore, APS can include electric vehicle (EV) charging stations, encouraging the adoption of EVs and contributing to reduced emissions.

Governments and smart city initiatives are propelling the APS market by promoting it as an integral part of urban mobility solutions. They offer regulatory support and financial incentives to encourage APS adoption, recognizing the benefits of reducing traffic congestion, improving space utilization, and minimizing the environmental impact of parking facilities.

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The global automated parking system market is segmented into end use, automation level, component, platform type, structure type, and region. Based on end use, the market is segmented into commercial parking, residential parking. Based on automation level, the market is segmented into fully automated, semi-automated. Based on component, the market is segmented into hardware, software. Based on platform type, the market is segmented into palleted, non-palleted. Based on structure type, the market is segmented into AVG System, Silo System, Tower System, Rail Guided Cart (RGC) System, Puzzle System, Shuttle System. Based on region, the market is further bifurcated into North America, Asia-Pacific, Europe, South America, Middle East & Africa.

Based on component, hardware dominated in the global automated parking system market in 2022. Hardware components form the physical infrastructure of an APS system, including elements such as automated conveyors, lifts, shuttles, sensors, and car platforms. These components are essential for the actual movement and storage of vehicles within the parking facility. The robust and reliable operation of this physical infrastructure is crucial for the overall effectiveness of APS.

Hardware components play a critical role in achieving space optimization within an APS facility. They are responsible for stacking or arranging vehicles efficiently, allowing the system to make the most of the available space. This capability is a primary driver for the adoption of APS, particularly in urban areas with limited land for parking.

Hardware components contribute significantly to the safety and security of both the parked vehicles and users. Advanced sensors and security features, such as surveillance cameras and access control systems, are part of the hardware infrastructure. These components ensure that vehicles are handled and stored with care and that unauthorized access is prevented.

Hardware components are responsible for the automated movement of vehicles within the APS facility. This includes the mechanisms for transporting vehicles to their designated parking spaces and efficiently retrieving them when users request their vehicles. The speed and precision of these operations are key factors in user satisfaction and overall system performance.

Key market players in the global Automated Parking System market are: -

• Wohr Parking Systems Pvt. Ltd.
• Klaus Multiparking GmbH
• CityLift
• Robotic Parking Systems Inc.
• Westfalia Technologies Inc.
• Unitronics
• Skyline Parking
• Lödige Industries GmbH
• Park Plus, Inc.
• ShinMaywa Industries, Ltd.

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“The Global Automated Parking System (APS) market is on a rapid growth trajectory, driven by urbanization and the need for efficient parking solutions. As urban areas continue to expand and land becomes scarcer, APS technology optimizes space usage by stacking or arranging vehicles efficiently. Technological advancements, including robotics and AI, enhance the speed and reliability of these systems. Sustainability concerns, with features like solar power and EV charging, make APS environmentally friendly. Government support and smart city initiatives further fuel APS adoption. The future of the APS market looks promising as it addresses the parking challenges of urbanization, making it a vital component of modern urban mobility solutions.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

“Automated Parking System Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By End Use (Commercial Parking, Residential Parking), By Automation Level (Fully Automated, Semi-Automated), By Component (Hardware, Software), By Platform Type (Palleted, Non-palleted), By Structure Type (AVG System, Silo System, Tower System, Rail Guided Cart (RGC) System, Puzzle System, Shuttle System), By Region, and By Competition, 2018-2028,” has evaluated the future growth potential of Global Automated Parking System Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Automated Parking System Market.

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