The global Automated Parking Systems market size was valued at USD XX Billion in 2018 and is anticipated to expand at a CAGR of XX % from forecast period of 2019 to 2026. An automated car parking system refers to a mechanical system devised to park an outsized number of cars in minimum space available.Similar to any multi-story garage, an automatic parking system stack cars on multiple levels vertically. This helps to maximize the space for parking and minimize the utilization of land. The APS is operated by a mechanical system to move cars and thus the necessity for drivers gets eliminated. APS are often conveniently called almost like an automated storage and retrieval system for cars. One among the earliest and most typical styles of APS is Paternoster. Source: Secondary Databases, Primary Interviews and 99 Report Research AnalysisGlobal Automated Parking Systems Industry Dynamics The healthy growth of the worldwide infrastructure industry is anticipated to drive the expansion of the market. The increasing number of high-rise buildings and luxury projects, including the rising willingness of real-estate developers to deploy automated solutions, is supporting the market growth. Additionally, consistent with the globe Construction Network, the infrastructure industry is anticipated to expand at a big CAGR over the forecast period. A growing fleet of domestic also as commercial vehicles and therefore the availability of limited parking spaces are resulting in an increase in traffic jams in several regions globally. Studies suggest that almost 35% to 40% of the entire congestion in several major cities round the world results from drivers/vehicle owners checking out vacant spaces. Moreover, the time and fuel wasted find empty spaces are additionally a serious explanation for emissions and pollution.
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Global Automated Parking Systems Market - Key Segment -
Global Automated Parking Systems Market by Structure Type –
• AGV System
• Silo System
• Tower System
• Rail Guided Cart (RGC) System
• Puzzle System
• Shuttle System
• Global Automated Parking Systems Market by Automation Level -
• Fully Automated
• Semi-automated
• Global Automated Parking Systems Market by End Use -
• Residential
• Commercial
• Mixed-use
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Global Automated Parking Systems Market - Geographical Analysis By geography, the global Automated Parking Systems Market is segmented into North America, Asia-Pacific (APAC), Europe, South America, and the Middle East and Africa (MEA).Europe dominated the market in 2019 and held a revenue share of over 40%. The presence of a number of the most important manufacturers of automated parking systems like Wohr, Westfalia, and Klaus Multi Parking, among others in Germany, the U.K., and Switzerland may be a key factor favoring the expansion prospects. Moreover, the adoption of automated parking systems is additionally high in these countries. The presence of technologically-advanced infrastructure has further encouraged the general public and personal sectors to adopt automated solutions for eliminating parking problems.The Asia Pacific region is anticipated to witness significant demand for automated parking system solutions over the forecast period. This will be attributed to the large population, including the prevalence of vehicle parking on the roads.
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The region is home to 40% of the worldwide population and a few of the fastest-growing economies. Moreover, many cities within the region have already attained saturation levels, rendering further infrastructure development getting ready to impossible. Therefore, governments within the region are that specialize in urban planning by implementing smart city solutions to derive benefits from the prevailing infrastructure.Global Automated Parking Systems Market -
Competitive Analysis
• Some of the key leaders companies in the market include- Skyline Parking AG
• Westfalia Parking
• Robotic Parking Systems Inc.
• Klaus Multiparking GmbH
• Wohr Parking System Pvt. Ltd.
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