Global Automated Parking Management Systems Market – Global Industry Analysis and Forecast (2018-2026) –by Mode of Automation, System, Service & Solution, Technology, End use, and Geography

Global Automated Parking Management Systems Market is expected to reach US$ 4.54 Bn by 2026, at a CAGR of 13% during a forecast period.
Automated Parking Management Systems Market An automated parking management systems market is a technique for mechanically parking and retrieving vehicles in order to accommodate the increase in demand for safe and convenient parking, as the number of vehicles increases every day.
Automated parking management systems market reduces the width and depth required for parking space, and distances between parking spaces, since no allowance need to be made for driving the car into the parking space or for the opening of car doors. Also, no driving lanes or ramps are required to drive the car toward the parking area.

A key restraint of the automated parking management systems market is the cost of installation. The installation price of the system extremely increases, as the system consists of large mechanical as well as electronic components. Another key restraint of the market is the malfunctioning of electronic components. The components require numerous maintenance, which increases the cost of the system. A rise in demand for parking spaces, due to the increase in the number of vehicles, has created significant opportunities for the automated parking management systems market.

Automated parking management systems market is segmented into a model of automation, system, service & solution, technology, end use, and region. Based on the mode of automation, the semi-automated parking system segment is estimated to hold a leading share of the market in 2017. Semi-automated is an old tried and proved technology with low manufacturing cost that is widely used in passenger vehicles. While in case of a fully automated parking system, the driver drives the car up to the entry of the system where a driver and all the passengers exit the car.

Finally, the system automatically parks the car in an available car parking space. Based on technology, the demand for sensor technology is anticipated to rise significantly during the forecast period due to rapid industrialization in rural areas and a rise in technological advancements in automated parking management systems in the global market. Based on end use, commercial users include shopping malls and other similar places. The need for augmenting vehicle traffic and automating the parking management process in the commercial segment is emerging in recent years. These clubs are using smart parking solutions to reduce congestion and parking time. On the basis of service & solution, the monitoring & reporting services and vehicle detection solutions are expected to be in demand due to the need for replacing time-consuming manual procedures with more automated solutions.

In terms of region, North America and Europe are technologically more developed for automated parking management systems market. The North America region is widely adopting digital technologies due to the focus on implementing smart cities and higher adoption rate for a smart parking management system. Some of the key players in the automated parking management systems market are Skyline Parking AG, CityLift Parking, Robotic Parking Systems Inc., Unitronics, Dayang Parking Co. Ltd, Klaus Multiparking Systems Pvt. Ltd., Automotion Parking Systems, Eito & Global Inc., Dongyang Menics, and Parkmatic TM.

The scope of the Global Automated Parking Management Systems Market
Global Automated Parking Management Systems Market by Mode of Automation
• Semi-automated Parking System • Fully Automated Parking System

Global Automated Parking Management Systems Market System by Technology
• Sensor Technology • Mobile Technology • RFID Technology

Global Automated Parking Management Systems Market by Service & Solution
• Integrated Payments • Vehicle Detection Solutions • Space Reservation Services • Monitoring & Reporting Services

Global Automated Parking Management Systems Market by System
• Software • Hardware

Global Automated Parking Management Systems Market by End-use
• Residential • Commercial

Global Automated Parking Management Systems Market by Geography
• North America • Europe • Asia-Pacific • Middle East & Africa • Latin America

Key Players operating in the Global Automated Parking Management Systems Market
• kyline Parking AG • CityLift Parking • Robotic Parking Systems Inc. • UNITRONICS • Dayang Parking Co. Ltd • Klaus Multiparking Systems Pvt. Ltd. • AUTOMOTION Parking Systems • EITO & Global Inc. • DONGYANG MENICS • PARKMATIC TM • FATA AUTOMATION, • MHE DEMAG (S) Pte Ltd. • 5BY2 • IHI • Katopark • Nissei Build Industries • Parkmatic • PARKPLUS • Qingdao Bortome • Simmatec • Sotefin • Tada • Westfalia Parking Solutions • WÖHR

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Report Published by MAXIMIZE MARKET RESEARCH

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