With the emergence and long-term Impact of COVID-19, Global Automated Parking Management Systems Market to reach USD 4.31 Billion by 2029
Bizwit Research & Consulting LLP’s Recent Analysis on Global Automated Parking Management Systems Market is poised to raise up to USD 4.31 Billion by 2030. Automated Parking Management System comprised of hardware and software components that assist in effective management of vehicle parking. An automated parking uses mechanical system to transport vehicles to and from parking spaces in a multi-story parking area. Vehicles are stored in multiple parking lots, stacked vertically in a multi-story parking building or area. In addition, automated parking management systems can be either fully automated or semi-automated. Fully automated parking systems operate like robot valet parking, which in turn eliminates the need for parking attendants. Semi-automated parking systems require few actions by the attendant or the driver. The increasing demand for smart parking solutions and growing urbanization across developing & developed regions are key factors driving the market growth.
Geographically, the Global Automated Parking Management Systems market has been segmented into North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA). North America dominated the market in terms of revenue, owing to the dominance of leading market players and rising urbanization coupled with limited parking places, traffic jams in the region. Whereas Asia Pacific is expected to grow with a highest CAGR during the forecast period, owing to factors such as rising problem parking space and overcrowding in cities as well as increasing penetration of leading market players in the region.
The Global Automated Parking Management Systems market is highly competitive owing to the presence of several key manufacturers such as Amano Corporation FATA Automation, Fehr Lagerlogistik AG (Skyline Parking), Flowbird, IBM Corporation, Klaus Multiparking GmbH, Robotic Parking Systems, Inc., Siemens AG, Skidata GmbH, Streetline, Inc. and others.
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Global Automated Parking Management Systems Market Size study & Forecast, by Component (Hardware, Software), by Platform Type (Palleted, Non-palleted), by Automation Level (Fully Automated, Semi-automated), by End-use (Residential, Commercial, Mixed-use) and Regional Analysis, 2022-2029
Key findings of the study suggest:
- Global Automated Parking Management Systems Market is anticipated to grow with a healthy growth rate of more than 115.1% over the forecast period 2021-2029.
- In the End Use segment, Residential Parking segment emerged out as the leading market segment in 2021.
- North America is anticipated to drive regional growth Owing to leading market players and rising urbanization coupled with limited parking places, traffic jams in the region
- Asia-Pacific is expected to grow at higher rate followed by North America during 2021-2029.
Bizwit Research & Consulting has considered following segments for the study:
- Fully automated
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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