What is Global Automated Parking Systems Market?
The Global Automated Parking Systems Market is a fascinating and rapidly evolving sector. It refers to the technology that automates a parking process where cars are transported to available parking spaces within a parking lot or a garage. This is achieved through the use of automated machinery and equipment, reducing the need for human intervention and maximizing space efficiency. The system is designed to minimize the area and/or volume required for parking cars. It's like a mechanical valet, where the system maps out where each car is parked and can retrieve it when needed. This technology is becoming increasingly popular in urban areas where space is at a premium. The system is not only efficient but also reduces the risk of damage to vehicles.
Rotary Carousel, Speedy Parking, Multi Parking, Optima Parking, Other in the Global Automated Parking Systems Market:
The Global Automated Parking Systems Market is segmented into various types such as Rotary Carousel, Speedy Parking, Multi Parking, Optima Parking, and others. Each type has its unique features and benefits. The Rotary Carousel system, for instance, works like a merry-go-round, allowing cars to be parked and retrieved without moving other vehicles. Speedy Parking, on the other hand, uses an automated lift to quickly transport cars to their designated spots. Multi Parking is the most popular segment, accounting for over 70% of the market. It utilizes multiple levels of parking spaces, maximizing the use of vertical space. Optima Parking uses an optimal algorithm to determine the best parking spot for each vehicle, ensuring efficient use of space. Other types of automated parking systems include those that use robotics or other advanced technologies.
Commercial, Residential, Government in the Global Automated Parking Systems Market:
The Global Automated Parking Systems Market finds its application in various areas such as Commercial, Residential, and Government sectors. In commercial settings, these systems are used in shopping malls, office buildings, and other commercial establishments to provide efficient parking solutions. In residential areas, they are used in apartment complexes and residential buildings to maximize parking space and provide convenience to residents. Government institutions also use these systems in public parking lots and government buildings to manage parking efficiently. The use of automated parking systems in these areas not only saves space but also reduces the time spent on searching for parking spots, leading to increased productivity and convenience.
Global Automated Parking Systems Market Outlook:
Looking at the market outlook, the Global Automated Parking Systems Market was valued at a significant US$ 2338 million in 2022. It is expected to grow steadily and reach a value of US$ 3129 million by 2029. This represents a Compound Annual Growth Rate (CAGR) of 4.2% during the forecast period from 2023 to 2029. It's worth noting that the top five manufacturers in this market hold a Production Market Share of over 25%. This indicates a high level of market concentration. In terms of product types, Multi Parking is the largest segment, holding a Production Market Share of over 70%. This shows the popularity and wide acceptance of Multi Parking systems in the market.
| Report Metric | Details |
| Report Name | Automated Parking Systems Market |
| Accounted market size in 2023 | US$ 2444.5 million |
| Forecasted market size in 2029 | US$ 3129 million |
| CAGR | 4.2 |
| Base Year | 2023 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Sales by Region |
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| By Company | ShinMaywa, IHI Parking System, MHI Parking, XIZI Parking System, Wuyang Parking, Tongbao Parking Equipment, Huaxing intelligent parking, Nissei Build Kogyo, Yeefung Industry Equipment, CIMC Tianda, Wohr, AJ Dongyang Menics, Dayang Parking, Klaus Multiparking, Maoyuan Parking Equipment, Lödige Industries, PARI, RR Parkon, Tada, Sieger Parking |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
