Automated Parking System Market Strategic Roadmap: Analysis and Forecasts 2025-2033

Automated Parking System Market Report

Key Insights

The size of the Automated Parking System Market market was valued at USD 2 Billion in 2023 and is projected to reach USD 5.83 Billion by 2032, with an expected CAGR of 16.5% during the forecast period. The automated parking system (APS) market involves the development and implementation of technology that allows vehicles to park automatically with minimal human intervention, using robotic systems or automated machines. This market is driven by factors such as the increasing demand for efficient use of urban space, the rise in the number of vehicles, and the growing trend of smart cities. As urban areas face space constraints and parking congestion, APS offers a solution by optimizing parking space utilization and reducing the time spent searching for parking. Additionally, the need for enhanced convenience, safety, and reduced environmental impact are key drivers, as APS systems can decrease vehicle emissions by reducing idle times. However, the market faces challenges such as high initial investment costs, technical complexities, and concerns over system reliability and maintenance. Innovation is focused on developing more efficient, scalable, and cost-effective APS solutions, with advancements in machine learning, AI, and IoT for improved space optimization and user experience. Research is also exploring the integration of automated parking systems with electric vehicle (EV) infrastructure and autonomous vehicles, enabling fully integrated and autonomous parking solutions. As urban mobility evolves and the demand for smart transportation infrastructure grows, the automated parking system market is expected to expand, driven by continuous technological advancements and the push for more sustainable, efficient urban environments.

Automated Parking System Market Concentration & Characteristics

The automated parking system market exhibits a moderate level of concentration. Prominent players possess substantial market shares, yet numerous small and medium-sized enterprises actively participate in the industry.

Concentration Areas:

• Geographical: North America and Europe maintain dominant positions, trailed by Asia Pacific.
• Type: Fully automated systems command the largest market segment, while semi-automated systems are gaining momentum.
• End-use: Commercial applications, notably in airports and shopping centers, serve as primary growth drivers.

Characteristics of Innovation:

• Continuous advancements in advanced sensors, sophisticated control systems, and AI-enabled algorithms.
• Unwavering focus on elevating safety measures and improving user-friendliness.
• Tailor-made solutions to align with unique urban planning requirements and infrastructure demands.

Automated Parking System Market Trends

Smart Parking Technologies: The integration of IoT, cloud computing, and real-time data analytics is driving smart parking solutions that optimize space utilization, guide drivers, and enhance overall parking efficiency.

Autonomous Parking Systems: Advanced automated parking systems leverage self-driving technologies, enabling vehicles to park themselves without human intervention, improving safety and convenience.

Integration with Mobility-as-a-Service (MaaS): Automated parking systems are becoming an integral part of MaaS platforms, providing seamless integration with other transportation modes for enhanced urban mobility.

Key Region or Country & Segment to Dominate the Market

Key Region:

• Asia Pacific is projected to witness the highest growth rate due to rapid urbanization and the increasing adoption of automated parking systems in commercial and residential buildings.

Key Segment:

• The fully automated parking system segment holds the largest market share, driven by its superior efficiency and convenience.

Automated Parking System Market Product Insights Report Coverage & Deliverables

The Automated Parking System Market report delivers comprehensive industry insights, encompassing:

• Market overview and growth prospects
• In-depth analysis of market segmentation
• Emerging trends and cutting-edge technologies shaping the industry
• Company profiles and competitive landscape
• Case studies and well-researched market projections

Automated Parking System Market Analysis

Market Size and Growth:

The global automated parking system market is estimated to be valued at USD 2 billion in 2023 and is anticipated to reach USD 5 billion by 2030, reflecting a robust CAGR of 16.5%.

Market Share:

Leading market participants include IHI Corporation, MHE Demag (S) Pte Ltd, and Park Assist, which collectively account for a significant share of the revenue generated within the fully automated parking system segment.

Automated Parking System Market Regional Insights

North America:

• The region holds the largest market share, driven by the early adoption of automated parking technologies in major cities like New York and San Francisco.
• Key players in the region include Park Assist (US) and Robotic Parking Systems (US).

Europe:

• Europe is another key market, with a high demand in urban centers such as London and Paris.
• Leading companies in the region include MHE Demag (S) Pte Ltd (Germany) and Westfalia Parking (Germany).

Driving Forces: What's Propelling the Automated Parking System Market

• Urbanization and population growth
• Technological advancements in sensors and AI
• Need for efficient parking solutions
• Rising concerns about traffic congestion and pollution

Challenges and Restraints in Automated Parking System Market

• High installation and maintenance costs
• Safety concerns related to automated systems
• Lack of standardized regulations and certifications
• Limited investment in developing countries

Emerging Trends in Automated Parking System Market

• Integration with electric vehicle charging infrastructure
• Advanced predictive analytics for optimized parking management
• Development of self-healing and self-learning parking systems
• Enhanced cybersecurity measures to prevent hacking and unauthorized access

Market Segmentation: Automated Parking System

Type:

• Fully Automated
• Semi-automated

Offering:

• Hardware
• Software
• Services

Platform:

• Palleted
• Non-palleted

End-use:

• Residential
• Commercial

Automated Parking System Industry News

In September 2023, Hyundai introduced a One-Touch Automated Parking System, allowing drivers to park or retrieve their vehicles remotely with a single touch on a smartphone app. This system enhances convenience and efficiency through advanced automation technology, providing a seamless and user-friendly experience for Hyundai vehicle owners.

Leading Players in the Automated Parking System Market

• IHI Corporation
• MHE Demag (S) Pte Ltd
• Park Assist
• Westfalia Parking
• Lodgie Industries
• Unitronics Corporation
• Robotic Parking Systems, Inc.
• Fata Automation
• Wohr Parking System Pvt. Ltd.
• Parkmatic