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)

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

Global Automated Parking Management Systems Market is valued approximately USD 1.4 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 15.1 % over the forecast period 2022-2029. 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.

The increasing demand for smart parking solutions is contributing towards the growth of the Global Automated Parking Management Systems market. For instance – according to Statista – in 2018, the global smart parking market was estimated at USD 1.8 billion, and the market is projected to grow to USD 3.8 billion by 2023, at a CAGR of 14 percent. Also, rising sales of personal vehicles globally and growing advancements in smart parking technology would create lucrative growth prospectus for the market over the forecast period. However, the high initial & maintenance cost of Automated Parking Management Systems stifles market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Automated Parking Management Systems Market study includes Asia Pacific, North America, Europe, Latin America, and the Rest of the World. 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.

Major market player included in this report are:
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.

Recent Developments in the Market:
 In December 2020, Italy based FAAC company a leader in industrial automation solutions, acquired TIBA Parking Systems for a transaction value of USD 135 million. With this acquisition, FAAC is expected to strengthen its position in the parking systems segment and achieve leadership.

Global Automated Parking Management Systems Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Component, Platform Type, Automation Level, End Use, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Component
Hardware
Software
By Platform Type
Palleted
Non-palleted
By Automation Level
Fully Automated
Semi-automated
By End-use
Residential
Commercial
Mixed-use

By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
RoLA
Rest of the World

Companies Mentioned
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.

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