What is Automated Parking Systems Market?
An automated parking system (APS) involves the use of mechanical, electrical and computer system in conjunction with an aim to reduce the area/volume needed for parking cars. The components involved in APS system are sensors, mechanical lifts, robotics arms and others computer integrated systems. Growing number of vehicles production across the globe have led to reduction in parking space.
Highlights from Automated Parking Systems Market Study
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Bosch (Germany), Valeo (France), Continental (Germany), DENSO Corporation (Japan) and Clarion Co., Ltd. (Japan) |
Research Analyst at AMA predicts that Japanese, German and United States Players will contribute to the maximum growth of Global Automated Parking Systems market throughout the forecasted period.
Bosch (Germany), Valeo (France), Continental (Germany), DENSO Corporation (Japan) and Clarion Co., Ltd. (Japan) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Skyline Parking (Switzerland), CityLift (United States), Robotic Parking Systems, Inc. (United States), EITO&GLOBAL INC. (Japan) and Hill Cannon (United Kingdom). Automated Parking Systems Market Segmentation:
Scope | Sub-Segments |
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Type | Semi-automatic and Fully-Automatic |
End Users | Residential,Commercial |
Technology | Mobile Technology,,Sensor Technology,Radio Frequency Identification (RFID) Technology,Other |
Vehicle Type | Car,Buses,Other |
Service & Solution | Integrated Payments,Vehicle Detection Solutions,Space Reservation Services,Monitoring & Reporting Services |
System | Software,Hardware |
On the basis of geography, the market of Automated Parking Systems has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growing Use of Internet of Things and Data Analytics in Automatic Parking Services and Focus on Unified Urban Mobility Structure
Market Growth Drivers:
Rise in Number of Vehicle Led to Parking Concern and Growing Need to Reduce the Environmental Concern Related to Manual Parking
Challenges:
Intricacy Involved in Integration of Various Systems and Services
Restraints:
Huge Initial Capital Investment in Automatic Parking System and Lack of Supporting Infrastructure in Developing Countries
Opportunities:
Emergence of Self-driving Cars and Growing Smart City Construction and Projects in Developing Countries
Key Target Audience
Automated Parking Systems Service Providers, System Integraters, Components Suppliers, Potential Investors, Government Agencies, Research Institutes and Others
Market Leaders & Development Strategies
In January 2023, Bosch and APCOA launched driverless parking technology in Germany, and Bosch has made driverless parking available at 15 APCOA car parks across Germany. A gradual, large-scale market launch of Bosch systems is planned in hundreds of car parks worldwide. Automated valet parking in the P6 car park at Stuttgart Airport has been approved for commercial use and now Bosch and APCOA are expanding the technology and installing it in the following areas: There are 15 additional car parks in Germany.
In February 2023, BMW and Valeo engage in strategic collaboration to jointly develop the next-generation Level 4 automated parking experience. The BMW Group and Valeo are taking their longstanding relationship to the next level with a new partnership. After announcing cooperation on ADAS domain controllers, sensors, and software for parking and maneuvering for BMW's next-generation platform "Neue Klasse"*, the BMW Group and Valeo have reached Level 4.