Dublin, Jan. 28, 2025 (GLOBE NEWSWIRE) -- The "Automated Parking System Market Report 2025" report has been added to ResearchAndMarkets.com's offering.
The automated parking system market size has grown rapidly in recent years. It will grow from $2.34 billion in 2024 to $2.63 billion in 2025 at a compound annual growth rate (CAGR) of 12.3%. The growth in the historic period can be attributed to space constraints in urban areas, environmental and sustainability concerns, traffic congestion alleviation, safety and security enhancement, adoption in high-density areas.
The automated parking system market size is expected to see rapid growth in the next few years. It will grow to $4.96 billion in 2029 at a compound annual growth rate (CAGR) of 17.2%. The growth in the forecast period can be attributed to rise in electric vehicles (EVs), consumer demand for convenience, smart city integration, sustainable urban development.
Major trends in the forecast period include urbanization and space constraints, traffic congestion and accessibility, technological advancements, safety and security.
The rise in high-rise buildings is anticipated to drive the growth of the automated parking system market in the future. High-rise buildings are defined as structures that range from 75 to 491 feet in height. The automated parking systems integrated into these high-rise buildings are designed to endure earthquakes, incorporate safety features, and support pallets beneath vehicles. For example, in July 2022, the Building Safety Programme Monthly Data Release report published by GOV.UK, a UK government website, noted that by the end of July 2022, 95% (462) of all identified high-rise residential and publicly owned buildings in England had either completed or initiated remediation work. Thus, the growth of high-rise structures is contributing to the expansion of the automated parking system market.
The burgeoning demand for passenger cars is set to be a substantial catalyst for the expansion of the automated parking system market. These systems, integrated into passenger vehicles, heighten convenience and safety by adeptly maneuvering cars into parking spaces autonomously, reducing reliance on drivers and alleviating parking-related stress. Recent statistics from July 2023 by the Society of Motor Manufacturers and Traders demonstrate a noteworthy surge in sales. Honda Motor Co., Ltd. witnessed a 14. 75% growth, with sales rising from 1,678 units in 2022 to 1,925 units in 2023. Similarly, Nissan Motor Co. Ltd. experienced a remarkable 30. 57% sales increase, reaching 6,087 units in 2023 from 4,662 in 2022. Moreover, the European Automobile Manufacturers Association reported a global production of over 68 million passenger cars in 2022, marking a 7. 9% increase from the previous year. Hence, the escalating demand for passenger cars significantly propels the automated parking system market's growth trajectory.
Leading companies in the automated parking system market are concentrating on creating innovative solutions, such as advanced automated parking systems (AAPS), to improve parking efficiency and maximize space utilization. An advanced automated parking system (AAPS) is a highly sophisticated solution that automates the entire parking and vehicle retrieval process. For example, in August 2024, Veer Savarkar International Airport, located in India, launched an Advanced Automated Parking System (AAPS) to enhance the parking experience for travelers. This cutting-edge system includes sensor-based boom barriers for automatic vehicle management, CCTV surveillance for security, and automatic ticket dispensers to simplify the ticketing process. Designed to minimize manual intervention and ensure transparent parking fees, the AAPS will also feature time-stamping at key locations for improved accuracy.
Major players within the automated parking system market are intensifying their efforts towards introducing sophisticated parking solutions like the Mobis Parking System (MPS) to secure a competitive advantage. The MPS stands as an all-encompassing and pioneering parking solution leveraging cutting-edge technology and data analytics to optimize parking management while enhancing the overall user experience. Hyundai Mobis, a South Korea-based automotive firm, launched the MPS in September 2023, employing ultrasonic sensors and surround-view monitor cameras to gauge the vehicle's positioning and generate a map, enabling seamless autonomous parking with a single touch.
Furthermore, the MPS features a Memory Parking Assist (MPA) function that memorizes the parking process during the initial parking phase in learning mode, facilitating subsequent hassle-free parking at the same location with a simple button press. This innovative system excels in identifying parking lines and executing autonomous parking, even within unoccupied parking spaces lacking nearby vehicles.
In May 2024, Junction Industries, a US-based holding company located in Fort Worth, acquired Skyline Parking Company for an undisclosed sum. This acquisition is intended to broaden Junction Industries' portfolio of automated vehicle storage solutions and meet the increasing demand for advanced parking systems in urban development. Skyline Parking, a provider of automated parking solutions based in Switzerland, enhances parking efficiency by optimizing space and enhancing the user experience through innovative technology.
Major companies operating in the automated parking system market include Westfalia Technologies, Unitronics Systems, Klaus Multiparking Systems, Robotic Parking Systems, City Lift Parking, Wohr Parking System, Lodige Industries, ShinMaywa Industries, Skyline Parking, Dayang Parking, Eito & Global, FATA Automation, ParkPlus, Robopark, Parkmatic Systems, Smart Parking Solutions, Serva Transport Systems, Park Assist, Amano McGann, IHI, Omnitec Group, MHE-Demag (S) Pte Ltd, T2 Systems, U-TRON Electronics Co. Ltd., TADA Technologies U-ParkIt Solutions, UbiPark Pty and Umojo.
This report focuses on automated parking system market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Markets Covered:
- By Component: Hardware; Software
- By Structure Type: AGV System; Silo System; Tower System; Rail Guided Cart (RGC) System; Puzzle System; Shuttle System
- By Platform: Palleted; Non-Palleted
- By Automation Level: Fully Automated; Semi Automated
Subsegments:
- By Hardware: Parking Sensors; Cameras And Image Processing Units; Control Units And Servers; Entry Or Exit Barriers and Gates; Display And Signage Systems
- By Software: Parking Management Software; Reservation And Payment Systems; Analytics And Reporting Tools; User Interface Applications; Integration Software For Smart City Solutions.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2025 - 2029 |
| Estimated Market Value (USD) in 2025 | $2.63 Billion |
| Forecasted Market Value (USD) by 2029 | $4.96 Billion |
| Compound Annual Growth Rate | 17.2% |
| Regions Covered | Global |
Key Topics Covered:
1. Executive Summary
2. Automated Parking System Market Characteristics
3. Automated Parking System Market Trends and Strategies
4. Automated Parking System Market - Macro Economic Scenario Including the Impact of Interest Rates, Inflation, Geopolitics and Covid and Recovery on the Market
5. Global Automated Parking System Growth Analysis and Strategic Analysis Framework
5.1. Global Automated Parking System PESTEL Analysis (Political, Social, Technological, Environmental and Legal Factors, Drivers and Restraints)
5.2. Analysis of End Use Industries
5.3. Global Automated Parking System Market Growth Rate Analysis
5.4. Global Automated Parking System Historic Market Size and Growth, 2019-2024, Value ($ Billion)
5.5. Global Automated Parking System Forecast Market Size and Growth, 2024-2029, 2034F, Value ($ Billion)
5.6. Global Automated Parking System Total Addressable Market (TAM)
6. Automated Parking System Market Segmentation
6.1. Global Automated Parking System Market, Segmentation by Component, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
- Hardware
- Software
6.2. Global Automated Parking System Market, Segmentation by Structure Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
- AGV System
- Silo System
- Tower System
- Rail Guided Cart (RGC) System
- Puzzle System
- Shuttle System
6.3. Global Automated Parking System Market, Segmentation by Platform, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
- Palleted
- Non-Palleted
6.4. Global Automated Parking System Market, Segmentation by Automation Level, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
- Fully Automated
- Semi Automated
6.5. Global Automated Parking System Market, Segmentation by End Use, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
- Residential
- Commercial
- Mixed Use
6.6. Global Automated Parking System Market, Sub-Segmentation of Hardware, by Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
- Parking Sensors
- Cameras and Image Processing Units
- Control Units and Servers
- Entry or Exit Barriers and Gates
- Display and Signage Systems
6.7. Global Automated Parking System Market, Sub-Segmentation of Software, by Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
- Parking Management Software
- Reservation and Payment Systems
- Analytics and Reporting Tools
- User Interface Applications
- Integration Software for Smart City Solutions
7. Automated Parking System Market Regional and Country Analysis
7.1. Global Automated Parking System Market, Split by Region, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
7.2. Global Automated Parking System Market, Split by Country, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
8-29. Country Specific Automated Parking System Market Analysis
30. Automated Parking System Market Competitive Landscape and Company Profiles
30.1. Automated Parking System Market Competitive Landscape
30.2. Automated Parking System Market Company Profiles
30.2.1. Westfalia Technologies
30.2.2. Unitronics Systems
30.2.3. Klaus Multiparking Systems
30.2.4. Robotic Parking Systems
30.2.5. City Lift Parking
31. Automated Parking System Market Other Major and Innovative Companies
31.1. Wohr Parking System Pvt Ltd.
31.2. Lodige Industries GmbH
31.3. ShinMaywa Industries Ltd.
31.4. Skyline Parking AG
31.5. Dayang Parking Co. Ltd.
31.6. Eito & Global Inc.
31.7. FATA Automation Inc.
31.8. ParkPlus Inc.
31.9. Robopark Inc.
31.10. Parkmatic Systems Inc.
31.11. Smart Parking Solutions Inc.
31.12. Serva Transport Systems GmbH
31.13. Park Assist LLC
31.14. Amano McGann Inc.
31.15. IHI Corporation
32. Global Automated Parking System Market Competitive Benchmarking and Dashboard
33. Key Mergers and Acquisitions in the Automated Parking System Market
34. Recent Developments in the Automated Parking System Market
35. Automated Parking System Market High Potential Countries, Segments and Strategies
35.1 Countries Offering Most New Opportunities
35.2 Segments Offering Most New Opportunities
35.3 Growth Strategies
For more information about this report visit https://www.researchandmarkets.com/r/9oraiz
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
