Automated parking systems market size to grow by USD 2,330.95 million from 2022 to 2027; Growth driven by the increase in urbanization - Technavio

NEW YORK, April 17, 2023 /PRNewswire/ -- The automated parking systems market size is estimated to increase by USD 2,330.95 million between 2022 and 2027. The market's growth momentum will be progressing at a CAGR of 16.15%. The market is driven by increasing urbanization. Due to the increase in population density, urban infrastructure such as parking lots and transportation facilities is under pressure. As cities become more densely populated, the need for parking spaces increases significantly. Lack of parking space leads to increased traffic, longer commutes, and environmental problems such as air pollution and CO₂ emissions. Innovative and effective parking solutions such as APS are being developed to meet these challenges. These corrective actions can reduce commute times, lower traffic congestion, and improve environmental sustainability. Hence, increasing urbanization is expected to be the driving force behind the growth of the spotlighted market during the forecast period. Discover some key insights on the market size and various market dynamics for the historic period (2017 to 2021) and Forecast Period (2023-2027) before buying the full report - Request a sample report

Global Automated parking systems market – Vendor Analysis

The global automated parking systems market is fragmented, and the market presents a highly competitive landscape for all vendors. The vendors compete intensely in terms of product features, price, customized solutions, and services offered. Key players focus extensively on geographical expansion and the launch of innovative products with advanced and enhanced capabilities. Such factors will increase the market growth during the forecast period. Some of the key vendors covered in the market include:

• AJ Automated Parking Systems Co. Ltd: The company offers different types of smart automated parking systems such as Cart type, Tower type, Rotary type, Puzzle type, and Robot type.
• Amano Corp: The company offers different types of car parking solutions such as automated parking systems, mechanical parking systems, and robotic parking systems.
• Automated Robotic Parking: The company offers automated parking systems such as robotic parking, tower parking, puzzle parking, and shuttle parking.
• AutoMotion Parking Systems LLC: The company offers automated parking systems such as AutoMotion universal parking system, AutoMotion lateral parking system, AutoMotion shuttle parking system, and AutoMotion tower parking system.
• Danieli and C. Officine Meccaniche Spa
• EITO and GLOBAL Inc.
• Expert Parking Systems Pvt. Ltd.
• fehr Lagerlogistik AG
• IHI Corp.
• KLAUS Multiparking GmbH
• Konecranes
• Mitsubishi Electric Corp.
• Nissei Build Kogyo Co. Ltd.
• Park Plus Inc.
• Parkmatic

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Global Automated parking systems market - Segmentation Assessment

Segment Overview
Technavio has segmented the market based on end-user (commercial, residential, and mixed-use), component (hardware and software), and geography (North America, Europe, APAC, Middle East and Africa, and South America).

• The market growth in the commercial segment will be significant over the forecast period. As cities get denser and land becomes scarcer, the demand for effective, space-saving parking solutions is higher than ever. Commercial end-users such as office buildings, shopping malls, and airports are increasingly implementing automated parking systems to maximize available space, reduce parking lot congestion, and increase overall customer satisfaction. Such factors will increase segment growth during the forecast period. 

Geography Overview
The report provides actionable insights and estimates the contribution of all regions to the growth of the global automated parking systems market.

North America will account for 48% of the market growth during the forecast period. This market is characterized by many suppliers offering a wide range of automated parking solutions, from fully automated to semi-automated systems. Office buildings, shopping centers, and airports, which are the primary end users of automated parking systems, are widespread in North America. In addition to commercial spaces, automated parking systems have a sizeable presence in the residential market in North America, especially in densely populated cities such as New York and San Francisco. Therefore, the automated parking system market in North America is expected to grow during the forecast period.

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Global Automated parking systems market – Market Dynamics

Key Trends – 

Integration with smart city initiatives is identified as the key trend in the market. APS will be integrated with other smart city projects, such as traffic management systems, to address these issues and improve overall transportation efficiency. For example, the Singapore government has introduced an intelligent mobility system that combines automated parking and traffic control. The system uses real-time data to improve traffic flow, reduce congestion, and increase overall transportation efficiency. The system reduces travel time by up to 25% and reduces CO₂ emissions by 22%, which will drive the growth of the market during the forecast period.

Major challenges – 

The high initial investment will challenge the growth of the market. Factors such as the size of the system, level of automation, and installation complexity are some of the variables that affect APS pricing. Moreover, a conventional parking lot with an equivalent capacity would cost between USD 2 million and USD 4 million. In addition, automated parking systems can have higher ongoing maintenance costs than traditional systems. The high initial cost of automated parking systems can make it difficult for property owners and developers to justify the investment, especially in areas of low or uncertain parking demand.

Drivers, trends analysis, and challenges have a crucial impact on market dynamics, which, in turn, can impact businesses. Find more key insights in a sample PDF report!

What are the key data covered in this automated parking systems market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the automated parking systems market between 2023 and 2027
• Precise estimation of the size of the automated parking systems market and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the automated parking systems market across North America, Europe, APAC, Middle East and Africa, and South America
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of automated parking systems market vendors

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Table of contents:

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Component
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global automated parking systems market 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on Global automated parking systems market 2017 - 2021 ($ million)

• 4.2 End-User Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – End-User Segment 2017 - 2021 ($ million)

• 4.3 Component Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – Component Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by End-user

• 6.1 Market segments
• Exhibit 30: Chart on End-user - Market share 2022-2027 (%)
• Exhibit 31: Data Table on End-user - Market share 2022-2027 (%)

• 6.2 Comparison by End-user 
• Exhibit 32: Chart on Comparison by End-user
• Exhibit 33: Data Table on Comparison by End-user

• 6.3 Commercial - Market size and forecast 2022-2027 
• Exhibit 34: Chart on Commercial - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Commercial - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Commercial - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Commercial - Year-over-year growth 2022-2027 (%)

• 6.4 Residential - Market size and forecast 2022-2027 
• Exhibit 38: Chart on Residential - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Residential - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Residential - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Residential - Year-over-year growth 2022-2027 (%)

• 6.5 Mixed-use - Market size and forecast 2022-2027 
• Exhibit 42: Chart on Mixed-use - Market size and forecast 2022-2027 ($ million)
• Exhibit 43: Data Table on Mixed-use - Market size and forecast 2022-2027 ($ million)
• Exhibit 44: Chart on Mixed-use - Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on Mixed-use - Year-over-year growth 2022-2027 (%)

• 6.6 Market opportunity by End-user 
• Exhibit 46: Market opportunity by End-user ($ million)
• Exhibit 47: Data Table on Market opportunity by End-user ($ million)

7 Market Segmentation by Component

• 7.1 Market segments
• Exhibit 48: Chart on Component - Market share 2022-2027 (%)
• Exhibit 49: Data Table on Component - Market share 2022-2027 (%)

• 7.2 Comparison by Component 
• Exhibit 50: Chart on Comparison by Component
• Exhibit 51: Data Table on Comparison by Component

• 7.3 Hardware - Market size and forecast 2022-2027 
• Exhibit 52: Chart on Hardware - Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Data Table on Hardware - Market size and forecast 2022-2027 ($ million)
• Exhibit 54: Chart on Hardware - Year-over-year growth 2022-2027 (%)
• Exhibit 55: Data Table on Hardware - Year-over-year growth 2022-2027 (%)

• 7.4 Software - Market size and forecast 2022-2027 
• Exhibit 56: Chart on Software - Market size and forecast 2022-2027 ($ million)
• Exhibit 57: Data Table on Software - Market size and forecast 2022-2027 ($ million)
• Exhibit 58: Chart on Software - Year-over-year growth 2022-2027 (%)
• Exhibit 59: Data Table on Software - Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by Component 
• Exhibit 60: Market opportunity by Component ($ million)
• Exhibit 61: Data Table on Market opportunity by Component ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 62: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 63: Chart on Market share by geography 2022-2027 (%)
• Exhibit 64: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 65: Chart on Geographic comparison
• Exhibit 66: Data Table on Geographic comparison

• 9.3 North America - Market size and forecast 2022-2027 
• Exhibit 67: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 68: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 69: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 70: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.4 Europe - Market size and forecast 2022-2027 
• Exhibit 71: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 72: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 73: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 74: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.5 APAC - Market size and forecast 2022-2027 
• Exhibit 75: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 76: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 77: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.6 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 79: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 80: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 81: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.7 South America - Market size and forecast 2022-2027 
• Exhibit 83: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 84: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 85: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027 
• Exhibit 87: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 88: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 89: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 UK - Market size and forecast 2022-2027 
• Exhibit 91: Chart on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 92: Data Table on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 93: Chart on UK - Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on UK - Year-over-year growth 2022-2027 (%)

• 9.10 China - Market size and forecast 2022-2027 
• Exhibit 95: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 96: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 97: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.11 Germany - Market size and forecast 2022-2027 
• Exhibit 99: Chart on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 100: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 101: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.12 India - Market size and forecast 2022-2027 
• Exhibit 103: Chart on India - Market size and forecast 2022-2027 ($ million)
• Exhibit 104: Data Table on India - Market size and forecast 2022-2027 ($ million)
• Exhibit 105: Chart on India - Year-over-year growth 2022-2027 (%)
• Exhibit 106: Data Table on India - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 107: Market opportunity by geography ($ million)
• Exhibit 108: Data Tables on Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 109: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape
• Exhibit 110: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 111: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 112: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered
• Exhibit 113: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 114: Matrix on vendor position and classification

• 12.3 AJ Automated Parking Systems Co. Ltd. 
• Exhibit 115: AJ Automated Parking Systems Co. Ltd. - Overview
• Exhibit 116: AJ Automated Parking Systems Co. Ltd. - Product / Service
• Exhibit 117: AJ Automated Parking Systems Co. Ltd. - Key offerings

• 12.4 Automated Robotic Parking 
• Exhibit 118: Automated Robotic Parking - Overview
• Exhibit 119: Automated Robotic Parking - Product / Service
• Exhibit 120: Automated Robotic Parking - Key offerings

• 12.5 AutoMotion Parking Systems LLC 
• Exhibit 121: AutoMotion Parking Systems LLC - Overview
• Exhibit 122: AutoMotion Parking Systems LLC - Product / Service
• Exhibit 123: AutoMotion Parking Systems LLC - Key offerings

• 12.6 Danieli and C. Officine Meccaniche Spa 
• Exhibit 124: Danieli and C. Officine Meccaniche Spa - Overview
• Exhibit 125: Danieli and C. Officine Meccaniche Spa - Business segments
• Exhibit 126: Danieli and C. Officine Meccaniche Spa - Key news
• Exhibit 127: Danieli and C. Officine Meccaniche Spa - Key offerings
• Exhibit 128: Danieli and C. Officine Meccaniche Spa - Segment focus

• 12.7 EITO and GLOBAL Inc.
• Exhibit 129: EITO and GLOBAL Inc. - Overview
• Exhibit 130: EITO and GLOBAL Inc. - Product / Service
• Exhibit 131: EITO and GLOBAL Inc. - Key offerings

• 12.8 fehr Lagerlogistik AG 
• Exhibit 132: fehr Lagerlogistik AG - Overview
• Exhibit 133: fehr Lagerlogistik AG - Product / Service
• Exhibit 134: fehr Lagerlogistik AG - Key offerings

• 12.9 IHI Corp.
• Exhibit 135: IHI Corp. - Overview
• Exhibit 136: IHI Corp. - Business segments
• Exhibit 137: IHI Corp. - Key news
• Exhibit 138: IHI Corp. - Key offerings
• Exhibit 139: IHI Corp. - Segment focus

• 12.10 KLAUS Multiparking GmbH 
• Exhibit 140: KLAUS Multiparking GmbH - Overview
• Exhibit 141: KLAUS Multiparking GmbH - Product / Service
• Exhibit 142: KLAUS Multiparking GmbH - Key offerings

• 12.11 Konecranes
• Exhibit 143: Konecranes - Overview
• Exhibit 144: Konecranes - Business segments
• Exhibit 145: Konecranes - Key offerings
• Exhibit 146: Konecranes - Segment focus

• 12.12 Park Plus Inc.
• Exhibit 147: Park Plus Inc. - Overview
• Exhibit 148: Park Plus Inc. - Product / Service
• Exhibit 149: Park Plus Inc. - Key offerings

• 12.13 Parkmatic
• Exhibit 150: Parkmatic - Overview
• Exhibit 151: Parkmatic - Product / Service
• Exhibit 152: Parkmatic - Key offerings

• 12.14 SHANDONG TADA AUTO PARKING CO. LTD. 
• Exhibit 153: SHANDONG TADA AUTO PARKING CO. LTD. - Overview
• Exhibit 154: SHANDONG TADA AUTO PARKING CO. LTD. - Product / Service
• Exhibit 155: SHANDONG TADA AUTO PARKING CO. LTD. - Key offerings

• 12.15 Unitronics Inc.
• Exhibit 156: Unitronics Inc. - Overview
• Exhibit 157: Unitronics Inc. - Product / Service
• Exhibit 158: Unitronics Inc. - Key offerings

• 12.16 Westfalia Technologies Inc. 
• Exhibit 159: Westfalia Technologies Inc. - Overview
• Exhibit 160: Westfalia Technologies Inc. - Product / Service
• Exhibit 161: Westfalia Technologies Inc. - Key offerings

• 12.17 Wohr Parking Systems Pvt. Ltd. 
• Exhibit 162: Wohr Parking Systems Pvt. Ltd. - Overview
• Exhibit 163: Wohr Parking Systems Pvt. Ltd. - Product / Service
• Exhibit 164: Wohr Parking Systems Pvt. Ltd. - Key offerings

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 165: Inclusions checklist
• Exhibit 166: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 167: Currency conversion rates for US$

• 13.4 Research methodology
• Exhibit 168: Research methodology
• Exhibit 169: Validation techniques employed for market sizing
• Exhibit 170: Information sources

• 13.5 List of abbreviations 
• Exhibit 171: List of abbreviations

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