Automated Parking System Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Automated Parking System Market
The global automated parking system market size was valued at USD 2.05 billion in 2022 and is projected to grow from USD 2.28 billion in 2023 to USD 4.83 billion by 2030, exhibiting a CAGR of 5.1% during the forecast period of 2023-2030.
Some of the characteristics of the COVID-19 pandemic have affected the growth of the industries involved in developing the Automated Parking System market. COVID rationalized that with reduced movement around the country and between countries, there is a limited need for APS solutions. Also, the pandemic has disrupted the production and transportation of APS equipment that is part of the supply chain systems, affecting automated parking system market growth.
Automated parking systems or APS are elicited by drivers driven mainly by the desire to reduce the costs of parking and, at the same time, meet their needs for a place. Because of population growth and demand for more parking lots, particularly in urban areas, the availability of land becomes a problem; thus, the demand for better parking structures is mulled.
The consequences of this raised rate of urbanization are some of the social issues that present themselves, one of which is the lack of parking lot space in urban areas. The population also flows from the countryside to cities; thus, people require more parking zones, and many cities face the problem of creating sufficient parking zones. APS is a solution because it utilizes vertical space and optimizes parking space in densely populated urban areas, impeding a global rise in automated parking system market share. Under the APS, the citizens are also provided with opportunities to use unused spaces like roofs and basements for parking cars, thus lessening the stress on the already compact streets and, more so, the driver searching for a place to park the car.
Comprehensive Analysis of Automated Parking System Market
The automated parking system market is segmented into three categories: Application, automation level, and components, which are the three factors considered when selecting the appropriate procedure for implementing a specific control. By application, the global market is divided into commercial and residential parking. Among them, commercial parking has a larger market share because of increasing urbanization and a more significant requirement for parking space in the commercial sector. Residential parking is likely the most rapidly growing segment as disposable income increases and available space for horizontal parking declines in compact residential areas. About automation, the market can be divided into fully automated and semi-automated, in which fully automated dominates due to superior characteristics and utilization in intelligent cities.
The European region led the automated parking system market by benefitting a size of USD 850 million in 2022 due to the growing demand for vehicles and the integration of innovative technologies.
The leading players in the automated parking system market significantly impact its growth trajectory and set industry standards. These key players, including Westfalia Parking (Germany), Klaus Multiparking GmbH (Germany), Utron Parking (Israel), Wohr Parking Systems Pvt. Ltd. (India), Skyline Parking (Switzerland), City Lift (India), Lödige Industries (Germany), Park Plus, Inc. (U.S.), and ShinMaywa Industries, Ltd. (Japan), contribute to a competitive landscape, driving innovation and market advancement.
In April 2022, Klaus Multiparking collaborated with Unipark, a leading company in Denmark dealing with automated parking systems, where Klaus Multiparking is a sales partner of Unipark. These two must be partners to enhance Klaus Multiparking's market position in Denmark and the global market.
Segmentation Table
ATTRIBUTEDETAILS
Study Period 2019-2030
Base Year 2022
Estimated Year 2023
Forecast Period 2023-2030
Historical Period 2019-2021
Growth Rate CAGR of 11.3% from 2023 to 2030
Unit Value (USD Billion)
Segmentation By Application
Commercial Parking
Residential Parking
By Automation Level
Fully Automated
Semi-Automated
By Component
Hardware
Software
By Region
North America (By Application, By Automation Level, By Component)
- U.S. (By Automation Level)
- Canada (By Automation Level)
- Mexico (By Automation Level)
Europe (By application, By Automation Level, By Component)
- U.K. (By Automation Level)
- Germany (By Automation Level)
- France (By Automation Level)
- Rest of Europe (By Automation Level)
Asia Pacific (By Application, By Automation Level, By Component)
- China (By Automation Level)
- Japan (By Automation Level)
- India (By Automation Level)
- Rest of APAC (By Automation Level)
Rest of the World (By Application, By Automation Level, By Component)
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- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 4. Key Insights
- 4.1. Key Industry Developments –Mergers, Acquisitions, and Partnerships
- 4.2. Latest technological Advancements
- 4.3. Porters Five Forces Analysis
- 4.4. Supply Chain Analysis
- 5. Quantitative Insights- Impact of COVID-19 Pandemic on Armored Vehicle Market
- 5.1. Impact of COVID-19 on Global Armored Vehicle Market
- 5.2. Steps Taken by Industry/Companies/Governments to Overcome the Impact
- 5.3. Key Developments in The Industry in Response to COVD-19 Pandemic
- 5.4. Potential Opportunities Due to COVID-19 Outbreak
- 6. Global Armored Vehicle Market Analysis, Insights and Forecast, 2017-2028
- 6.1. Key Findings / Summary
- 6.2. Market Analysis, Insights, and Forecast – By Platform
- 6.2.1. Combat Vehicles
- 6.2.1.1. Main Battle Tanks
- 6.2.1.2. Infantry Fighting Vehicles
- 6.2.1.3. Armored Personal Carriers
- 6.2.1.4. Armored Amphibious Vehicles
- 6.2.1.5. Mine-Resistant Ambush Protected Vehicles
- 6.2.1.6. Light Armored Vehicles
- 6.2.1.7. Self-Propelled Howitzers
- 6.2.1.8. Air Defense Vehicles
- 6.2.1.9. Armored Mortar Carrier
- 6.2.2. Combat Support Vehicles
- 6.2.2.1. Armored Supply Trucks
- 6.2.2.2. Armored Command and Control Vehicles
- 6.2.2.3. Repair and Recovery Vehicles
- 6.2.2.4. Others
- 6.2.3. Unmanned Armored Ground Vehicles
- 6.3. Market Analysis, Insights and Forecast – By Mobility
- 6.3.1. Wheeled
- 6.3.2. Tracked
- 6.4. Market Analysis, Insights, and Forecast – By System
- 6.4.1. Engine
- 6.4.2. Drive System
- 6.4.3. Ballistic Armor
- 6.4.4. Turret Drives
- 6.4.5. Ammunition Handling System
- 6.4.6. Fire Control Systems (FCS)
- 6.4.7. Armaments
- 6.4.8. Countermeasure System
- 6.4.9. Command & Control (C2) System
- 6.4.10. Power System
- 6.4.11. Navigation System
- 6.4.12. Observation & Display System
- 6.4.13. Hulls/Frames
- 6.5. Market Analysis, Insights, and Forecast – By Region
- 6.5.1. North America
- 6.5.2. Europe
- 6.5.3. Asia Pacific
- 6.5.4. Middle East
- 6.5.5. Rest of the World
- 7. North America Armored Vehicle Market Analysis, Insights and Forecast, 2017-2028
- 7.1. Key Findings / Summary
- 7.2. Market Analysis, Insights, and Forecast – By Platform
- 7.2.1. Combat Vehicles
- 7.2.1.1. Main Battle Tanks
- 7.2.1.2. Infantry Fighting Vehicles
- 7.2.1.3. Armored Personal Carriers
- 7.2.1.4. Armored Amphibious Vehicles
- 7.2.1.5. Mine-Resistant Ambush Protected Vehicles
- 7.2.1.6. Light Armored Vehicles
- 7.2.1.7. Self-Propelled Howitzers
- 7.2.1.8. Air Defense Vehicles
- 7.2.1.9. Armored Mortar Carrier
- 7.2.2. Combat Support Vehicles
- 7.2.2.1. Armored Supply Trucks
- 7.2.2.2. Armored Command and Control Vehicles
- 7.2.2.3. Repair and Recovery Vehicles
- 7.2.2.4. Others
- 7.2.3. Unmanned Armored Ground Vehicles
- 7.3. Market Analysis, Insights and Forecast – By Mobility
- 7.3.1. Wheeled
- 7.3.2. Tracked
- 7.4. Market Analysis, Insights, and Forecast – By System
- 7.4.1. Engine
- 7.4.2. Drive System
- 7.4.3. Ballistic Armor
- 7.4.4. Turret Drives
- 7.4.5. Ammunition Handling System
- 7.4.6. Fire Control Systems (FCS)
- 7.4.7. Armaments
- 7.4.8. Countermeasure System
- 7.4.9. Command & Control (C2) System
- 7.4.10. Power System
- 7.4.11. Navigation System
- 7.4.12. Observation & Display System
- 7.4.13. Hulls/Frames
- 7.5. Market Analysis, Insights, and Forecast – By Country
- 7.5.1. The U.S.
- 7.5.1.1. By System
- 7.5.2. Canada
- 7.5.2.1. By System
- 8. Europe Armored Vehicle Market Analysis, Insights and Forecast, 2017-2028
- 8.1. Key Findings / Summary
- 8.2. Market Analysis, Insights, and Forecast – By Platform
- 8.2.1. Combat Vehicles
- 8.2.1.1. Main Battle Tanks
- 8.2.1.2. Infantry Fighting Vehicles
- 8.2.1.3. Armored Personal Carriers
- 8.2.1.4. Armored Amphibious Vehicles
- 8.2.1.5. Mine-Resistant Ambush Protected Vehicles
- 8.2.1.6. Light Armored Vehicles
- 8.2.1.7. Self-Propelled Howitzers
- 8.2.1.8. Air Defense Vehicles
- 8.2.1.9. Armored Mortar Carrier
- 8.2.2. Combat Support Vehicles
- 8.2.2.1. Armored Supply Trucks
- 8.2.2.2. Armored Command and Control Vehicles
- 8.2.2.3. Repair and Recovery Vehicles
- 8.2.2.4. Others
- 8.2.3. Unmanned Armored Ground Vehicles
- 8.3. Market Analysis, Insights and Forecast – By Mobility
- 8.3.1. Wheeled
- 8.3.2. Tracked
- 8.4. Market Analysis, Insights, and Forecast – By System
- 8.4.1. Engine
- 8.4.2. Drive System
- 8.4.3. Ballistic Armor
- 8.4.4. Turret Drives
- 8.4.5. Ammunition Handling System
- 8.4.6. Fire Control Systems (FCS)
- 8.4.7. Armaments
- 8.4.8. Countermeasure System
- 8.4.9. Command & Control (C2) System
- 8.4.10. Power System
- 8.4.11. Navigation System
- 8.4.12. Observation & Display System
- 8.4.13. Hulls/Frames
- 8.5. Market Analysis, Insights, and Forecast – By Country
- 8.5.1. The U.K.
- 8.5.1.1. By System
- 8.5.2. Germany
- 8.5.2.1. By System
- 8.5.3. France
- 8.5.3.1. By System
- 8.5.4. Russia
- 8.5.4.1. By System
- 8.5.5. Ukraine
- 8.5.5.1. By System
- 8.5.6. Rest of Europe
- 8.5.6.1. By System
- 9. Asia Pacific Armored Vehicle Market Analysis, Insights and Forecast, 2017-2028
- 9.1. Key Findings / Summary
- 9.2. Market Analysis, Insights, and Forecast – By Platform
- 9.2.1. Combat Vehicles
- 9.2.1.1. Main Battle Tanks
- 9.2.1.2. Infantry Fighting Vehicles
- 9.2.1.3. Armored Personal Carriers
- 9.2.1.4. Armored Amphibious Vehicles
- 9.2.1.5. Mine-Resistant Ambush Protected Vehicles
- 9.2.1.6. Light Armored Vehicles
- 9.2.1.7. Self-Propelled Howitzers
- 9.2.1.8. Air Defense Vehicles
- 9.2.1.9. Armored Mortar Carrier
- 9.2.2. Combat Support Vehicles
- 9.2.2.1. Armored Supply Trucks
- 9.2.2.2. Armored Command and Control Vehicles
- 9.2.2.3. Repair and Recovery Vehicles
- 9.2.2.4. Others
- 9.2.3. Unmanned Armored Ground Vehicles
- 9.3. Market Analysis, Insights and Forecast – By Mobility
- 9.3.1. Wheeled
- 9.3.2. Tracked
- 9.4. Market Analysis, Insights, and Forecast – By System
- 9.4.1. Engine
- 9.4.2. Drive System
- 9.4.3. Ballistic Armor
- 9.4.4. Turret Drives
- 9.4.5. Ammunition Handling System
- 9.4.6. Fire Control Systems (FCS)
- 9.4.7. Armaments
- 9.4.8. Countermeasure System
- 9.4.9. Command & Control (C2) System
- 9.4.10. Power System
- 9.4.11. Navigation System
- 9.4.12. Observation & Display System
- 9.4.13. Hulls/Frames
- 9.5. Market Analysis, Insights, and Forecast – By Country
- 9.5.1. China
- 9.5.1.1. By System
- 9.5.2. India
- 9.5.2.1. By System
- 9.5.3. Japan
- 9.5.3.1. By System
- 9.5.4. Australia
- 9.5.4.1. By System
- 9.5.5. South Korea
- 9.5.5.1. By System
- 9.5.6. Rest of Asia-Pacific
- 9.5.6.1. By System
- 10. The Middle East Armored Vehicle Market Analysis, Insights and Forecast, 2017-2028
- 10.1. Key Findings / Summary
- 10.2. Market Analysis, Insights, and Forecast – By Platform
- 10.2.1. Combat Vehicles
- 10.2.1.1. Main Battle Tanks
- 10.2.1.2. Infantry Fighting Vehicles
- 10.2.1.3. Armored Personal Carriers
- 10.2.1.4. Armored Amphibious Vehicles
- 10.2.1.5. Mine-Resistant Ambush Protected Vehicles
- 10.2.1.6. Light Armored Vehicles
- 10.2.1.7. Self-Propelled Howitzers
- 10.2.1.8. Air Defense Vehicles
- 10.2.1.9. Armored Mortar Carrier
- 10.2.2. Combat Support Vehicles
- 10.2.2.1. Armored Supply Trucks
- 10.2.2.2. Armored Command and Control Vehicles
- 10.2.2.3. Repair and Recovery Vehicles
- 10.2.2.4. Others
- 10.2.3. Unmanned Armored Ground Vehicles
- 10.3. Market Analysis, Insights and Forecast – By Mobility
- 10.3.1. Wheeled
- 10.3.2. Tracked
- 10.4. Market Analysis, Insights, and Forecast – By System
- 10.4.1. Engine
- 10.4.2. Drive System
- 10.4.3. Ballistic Armor
- 10.4.4. Turret Drives
- 10.4.5. Ammunition Handling System
- 10.4.6. Fire Control Systems (FCS)
- 10.4.7. Armaments
- 10.4.8. Countermeasure System
- 10.4.9. Command & Control (C2) System
- 10.4.10. Power System
- 10.4.11. Navigation System
- 10.4.12. Observation & Display System
- 10.4.13. Hulls/Frames
- 10.5. Market Analysis, Insights, and Forecast – By Country
- 10.5.1. The UAE
- 10.5.1.1. By System
- 10.5.2. Saudi Arabia
- 10.5.2.1. By System
- 10.5.3. Turkey
- 10.5.3.1. By System
- 10.5.4. Israel
- 10.5.4.1. By System
- 10.5.5. Rest of the Middle East
- 10.5.5.1. By System
- 11. Rest of the World Armored Vehicle Market Analysis, Insights and Forecast, 2017-2028
- 11.1. Key Findings / Summary
- 11.2. Market Analysis, Insights, and Forecast – By Platform
- 11.2.1. Combat Vehicles
- 11.2.1.1. Main Battle Tanks
- 11.2.1.2. Infantry Fighting Vehicles
- 11.2.1.3. Armored Personal Carriers
- 11.2.1.4. Armored Amphibious Vehicles
- 11.2.1.5. Mine-Resistant Ambush Protected Vehicles
- 11.2.1.6. Light Armored Vehicles
- 11.2.1.7. Self-Propelled Howitzers
- 11.2.1.8. Air Defense Vehicles
- 11.2.1.9. Armored Mortar Carrier
- 11.2.2. Combat Support Vehicles
- 11.2.2.1. Armored Supply Trucks
- 11.2.2.2. Armored Command and Control Vehicles
- 11.2.2.3. Repair and Recovery Vehicles
- 11.2.2.4. Others
- 11.2.3. Unmanned Armored Ground Vehicles
- 11.3. Market Analysis, Insights and Forecast – By Mobility
- 11.3.1. Wheeled
- 11.3.2. Tracked
- 11.4. Market Analysis, Insights, and Forecast – By System
- 11.4.1. Engine
- 11.4.2. Drive System
- 11.4.3. Ballistic Armor
- 11.4.4. Turret Drives
- 11.4.5. Ammunition Handling System
- 11.4.6. Fire Control Systems (FCS)
- 11.4.7. Armaments
- 11.4.8. Countermeasure System
- 11.4.9. Command & Control (C2) System
- 11.4.10. Power System
- 11.4.11. Navigation System
- 11.4.12. Observation & Display System
- 11.4.13. Hulls/Frames
- 11.5. Market Analysis, Insights, and Forecast – By Country
- 11.5.1. Africa
- 11.5.1.1. By System
- 11.5.2. Latin America
- 11.5.2.1. By System
- 12. Competitive Matrix
- 12.1. Comparative Analysis – Major Players
- 12.2. Company Profiles
- 12.2.1. BAE Systems (The U.K)
- 12.2.1.1. Description
- 12.2.1.2. Product Portfolio
- 12.2.1.3. Financials (Data as available in public domain and/or on paid databases)
- 12.2.1.4. Recent Developments
- 12.2.2. Denel SOC Ltd (South Africa)
- 12.2.2.1. Description
- 12.2.2.2. Product Portfolio
- 12.2.2.3. Financials (Data as available in public domain and/or on paid databases)
- 12.2.2.4. Recent Developments
- 12.2.3. General Dynamics Corporation (The U.S.)
- 12.2.3.1. Description
- 12.2.3.2. Product Portfolio
- 12.2.3.3. Financials (Data as available in public domain and/or on paid databases)
- 12.2.3.4. Recent Developments
- 12.2.4. IVECO DEFENCE VEHICLES (Italy)
- 12.2.4.1. Description
- 12.2.4.2. Product Portfolio
- 12.2.4.3. Financials (Data as available in public domain and/or on paid databases)
- 12.2.4.4. Recent Developments
- 12.2.5. Krauss-Maffei Wegmann GmbH & Co. KG (Germany)
- 12.2.5.1. Description
- 12.2.5.2. Product Portfolio
- 12.2.5.3. Financials (Data as available in public domain and/or on paid databases)
- 12.2.5.4. Recent Developments
- 12.2.6. NORINCOGROUP (China)
- 12.2.6.1. Description
- 12.2.6.2. Product Portfolio
- 12.2.6.3. Financials (Data as available in public domain and/or on paid databases)
- 12.2.6.4. Recent Developments
- 12.2.7. Oshkosh Defense, LLC an Oshkosh Corporation Company (The U.S)
- 12.2.7.1. Description
- 12.2.7.2. Product Portfolio
- 12.2.7.3. Financials (Data as available in public domain and/or on paid databases)
- 12.2.7.4. Recent Developments
- 12.2.8. Otokar, a KOC Group Company (Turkey)
- 12.2.8.1. Description
- 12.2.8.2. Product Portfolio
- 12.2.8.3. Financials (Data as available in public domain and/or on paid databases)
- 12.2.8.4. Recent Developments
- 12.2.9. Rheinmetall AG (Germany)
- 12.2.9.1. Description
- 12.2.9.2. Product Portfolio
- 12.2.9.3. Financials (Data as available in public domain and/or on paid databases)
- 12.2.9.4. Recent Developments
- 12.2.10. Textron Systems (The U.S.)
- 12.2.10.1. Description
- 12.2.10.2. Product Portfolio
- 12.2.10.3. Financials (Data as available in public domain and/or on paid databases)
- 12.2.10.4. Recent Developments
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