United States of America – The Insight Partners is delighted to publish its new market research report, "Automated Parking System Market: An In-depth Analysis of Market Dynamics, Growth Potential, and Challenges." The comprehensive report gives a global AUTOMATED PARKING SYSTEM market overview along with prevailing trends, technological advancements, and key projections during the Forecast Period.
Overview
The Automated Parking System industry is going through a revolutionary transformation. Urbanization, growing rates of car ownership, and increasing demand for city space maximization are among the key drivers reshaping the APS industry. In addition, smart city initiatives and the adoption of AI, IoT, and robotic technologies within parking systems are fueling innovation at a rapid pace in this industry. This report provides a comprehensive analysis of these emerging market trends, bringing to light growth opportunities and challenges side by side.
Key Findings and Insights
Market Size and Growth
Historical Data & Forecast: The market for automated parking systems is expected to increase to US$ 5.7 billion by 2031 from US$ 2.01 billion in 2023. The market will likely to record a CAGR of 13.9% from 2023–2031. Smart city development is expected to be one of the leading trends in the market.
Key Growth Factors:
Technological Advancements: Installation of AI-based parking systems and real-time tracking of data.
Urban Space Constraints: Rising pressure to efficiently utilize land in densely populated cities.
Environmental Concerns: Reduced vehicle emissions through efficient parking operations.
Consumer Demand: Growing demand for contactless and ease-of-use parking options.
Government Initiatives: Smart city developments and subsidies on smart infrastructure.
Market Segmentation
By Component
Hardware
Software
By Automation Level
Semi-automated
Fully automated
By Platform
Palleted
Non-palleted
Spotting Emerging Trends
Technological Advancements
Technologies such as AI-powered space detection, IoT-intelligent parking meters, cloud-based analytics platforms, and self-driving valet robots are transforming traditional parking models. These technologies offer real-time data, enhanced efficiency, and improved user experiences.
Changing Consumer Preferences
Smooth, app-based, and contactless parking experiences are in great demand among consumers. There is increasing demand for integrated payment systems, booking, and personalized parking suggestions, supported by digital convenience and time-saving benefits.
Regulatory Changes
Several cities are passing urban mobility and green infrastructure laws that encourage the implementation of automated parking systems. Urban zoning policies, building codes, and green building principles are impacting APS design and deployment plans.
Growth Opportunities
Smart Cities and Infrastructure Projects: Integration of APS as part of broader smart mobility solutions.
Joint Ventures with Real Estate Developers: Demand for automated systems in urban residential and commercial properties.
Retrofit Opportunities: Introducing automated technologies to conventional parking garages.
Global Expansion: Untapped potential in emerging markets, especially in Asia-Pacific and Latin America.
Mobility-as-a-Service (MaaS): APS as a critical component in integrated transportation ecosystems.
Conclusion
The Automated Parking System Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast Period provides strategic insights on the emerging and new trends that are shaping the APS industry. Through extensive competitive analysis, market segmentation, and opportunity estimation, this study is an invaluable resource for companies interested in establishing or growing their footprint in the APS market. The information can be used by stakeholders for evidence-based decision-making, risk assessment, and strategy formulation.

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