Global Automated Parking System Market Drivers, Trends And Restraints For 2022-2031
The Business Research Company’s Automated Parking System Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026
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As per The Business Research Company’s “Automated Parking System Global Market Report 2022”, the automated parking system market is predicted to reach a value of $1.91 billion in 2022 at a compound annual growth rate (CAGR) of 15.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, affecting many markets across the globe. The automated parking system market is expected to grow to $3.38 billion in 2026 at a compound annual growth rate (CAGR) of 15.3%. The increase in high-rise structures are expected to propel the growth of the automated parking system market going forward.
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Key Trends In The Automated Parking System Market
Advancements in technology are the key trend gaining popularity in the automated parking system market. Major companies operating in the automated parking system market are integrating intelligence systems such as sensors to sustain their position in the market. For instance, in June 2021, Evergrande Auto, a China-based company manufacturing automated parking systems, launched its automated valet parking system (AVP) based on smart technology with the introduction of the AVP automatic parking system which uses sensor technologies like ultrasonic radars, millimeter-wave radars, high-definition cameras with panoramic views, as well as high-precision maps, and has contributed to the development of features like cruising on narrow roads, pedestrian and obstacle avoidance, automatic car-following, and automatic recognition of park lots.
Automated Parking System Market Overview
The automated parking system market consists of sales of automated parking system-related services by entities (organizations, sole traders, and partnerships) that are used to stack vehicles vertically to limit space. An automated parking system refers to a system that consists of several rooms for storing and retrieving vehicles. With the help of this system, vehicles can be transported from the entrance to their parking space without the presence of a driver.
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Automated Parking System Global Market Report 2022 from TBRC covers the following information:
Market Size Data
• Forecast period: Historical and Future
• By region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• By countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Market Segmentation
• 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
• By End Use: Residential, Commercial, Mixed Use
• By Geography: The global automated parking system market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America holds the largest share in the market.
Major market players such as Westfalia Parking, Unitronics, Klaus Multiparking Systems Pvt. Ltd., Robotic Parking Systems Inc., City Lift Parking LLC, Wohr Parking Systems Pvt. Ltd., Skyline
Trends, opportunities, strategies and so much more.
Automated Parking System Global Market Report 2022 is one of The Business Research Company’s comprehensive reports that provides in-depth automated parking system global market research. The market report analyzes automated parking system global market size, automated parking system global market growth, automated parking system global market trends, automated parking system global market growth drivers, automated parking system market segments, automated parking system global market major players, automated parking system market growth across geographies, and automated parking system market competitors’ revenues and market positioning. The automated parking system market report enables you to gain insights on opportunities and strategies, as well as identify countries and segments with the highest growth potential.
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