Automated Parking System Market By Type (Mechanical Parking System, Vertical Lift Parking System, Shuttle Parking System, Tower Parking System), By Technology (Robotic Parking Systems, Automatic Parking Systems, Automated Valet Parking), By End-User (Residential, Commercial, Government), By Application (Automobile Dealerships, Hospitals, Airports, Malls and Commercial Centers, Corporate Buildings), and By Region; Global Insights & Forecast (2024 – 2030)

As per Intent Market Research, the Automated Parking System Market was valued at USD 2.7 billion in 2023 and will surpass USD 7.3 billion by 2030; growing at a CAGR of 15.3% during 2024 - 2030.

The automated parking system (APS) market has experienced significant growth in recent years, driven by the increasing demand for smart parking solutions to address urbanization and the growing need for efficient space utilization in crowded cities. APS uses advanced technologies such as robotics, automated vehicles, and AI to eliminate the need for human intervention in parking, providing a seamless and efficient process. The market is witnessing innovations across various segments, from mechanical parking systems to automated valet services, with a wide array of applications in commercial and residential buildings, airports, hospitals, and other public areas.

Mechanical Parking System is Largest Owing to Reliability and Cost-Effectiveness

Among the various types of automated parking systems, mechanical parking systems dominate the market due to their reliability, cost-effectiveness, and simpler design compared to more advanced robotic systems. These systems use elevators, conveyors, and turntables to automatically park vehicles without the need for human intervention. They are widely adopted in areas where space efficiency and a simpler automation process are prioritized. The mechanical parking system offers a proven track record of operational success in densely populated cities and commercial establishments, which further supports its widespread adoption.

The large-scale adoption of mechanical parking systems is primarily driven by their proven efficiency, long lifecycle, and relatively lower initial cost compared to other automated parking technologies. Additionally, mechanical systems are typically easier to install and maintain, making them a popular choice for both large and small installations. As urban spaces continue to grow and the demand for optimized parking solutions increases, mechanical parking systems are expected to remain the largest subsegment in the global APS market.

Robotic Parking Systems are Fastest Growing Due to Technological Advancements

While mechanical systems dominate in terms of volume, robotic parking systems are the fastest growing subsegment in the automated parking system market. Robotic parking systems offer increased automation, flexibility, and capacity compared to traditional mechanical systems. These systems utilize robotic arms, shuttles, or automated vehicles to park cars efficiently in a dense configuration, offering significant space savings in comparison to conventional parking systems. Robotic systems can also handle more complex parking arrangements, making them ideal for high-density urban environments.

The rapid adoption of robotic parking systems is primarily fueled by technological advancements in robotics, AI, and vehicle-to-infrastructure (V2I) communication, making these systems more cost-effective and reliable. With the increasing emphasis on sustainability and green building practices, robotic parking systems are becoming a preferred choice for new smart city projects, especially in places where space is a premium. As urban centers evolve and demand for high-tech, efficient parking solutions grows, robotic parking systems are expected to experience substantial growth, further accelerating their market share.

Commercial Sector is Largest End-User Owing to Urbanization and Real Estate Growth

The commercial sector is the largest end-user in the automated parking system market, owing to the growing need for space-efficient parking solutions in urban areas. Commercial buildings such as shopping malls, office complexes, airports, and hotels increasingly rely on APS to streamline parking operations and maximize available real estate. As cities grow and available space becomes more limited, the demand for automated systems that can optimize the use of space while improving user experience is surging.

The commercial real estate sector is particularly driving demand, as developers seek to implement modern, technology-driven solutions that enhance the value and functionality of their properties. Automated parking systems are becoming a key feature in the design of modern commercial developments, particularly in urban settings where land prices are high, and maximizing space is a priority. With the increasing demand for efficient infrastructure in the real estate and hospitality sectors, the commercial segment is expected to continue dominating the market.

North America is Largest Region Owing to High Adoption Rate and Urban Development

North America is the largest region in the automated parking system market, primarily driven by the growing need for space-efficient solutions in urban areas, combined with the region's adoption of advanced technologies. The U.S., in particular, is at the forefront of implementing smart city solutions, and automated parking systems are becoming an integral part of infrastructure development projects in cities like New York, Los Angeles, and San Francisco. The region's emphasis on innovation and technology in construction and urban planning has accelerated the adoption of automated parking systems across residential, commercial, and public spaces.

Furthermore, the region benefits from robust investments in research and development, particularly in the development of robotic parking systems and automated valet services. Government regulations encouraging the implementation of sustainable technologies, alongside private-sector investments in smart city projects, are further propelling the growth of the automated parking system market in North America. As cities continue to expand and congestion becomes more of an issue, the demand for automated parking solutions is expected to continue rising in this region.

Leading Companies and Competitive Landscape

The automated parking system market is highly competitive, with several companies leading the way in innovation and technology development. Key players in the market include Parkplus, Klaus Multiparking GmbH, Unitronics, Fujita Corporation, and Mitsubishi Electric, among others. These companies are leveraging their expertise in robotics, AI, and automation to create cutting-edge solutions for parking management. Strategic partnerships, acquisitions, and technological advancements are key strategies driving the competitive landscape.

To stay ahead of the competition, companies are investing heavily in research and development to enhance the functionality, efficiency, and scalability of their systems. Additionally, many companies are focusing on expanding their geographical footprint by entering new markets, particularly in emerging economies where urbanization and the demand for efficient parking systems are on the rise. With the ongoing trend towards smart city development, players in the APS market are positioned to play a crucial role in shaping the future of urban mobility and parking solutions.

Recent Developments:

• Parkplus Expansion: Parkplus announced the opening of a new automated parking facility at a major shopping center in New York, aiming to ease urban parking challenges.
• Fujita Corporation Partnership: Fujita Corporation has teamed up with a leading automobile manufacturer to develop advanced robotic parking technology to enhance vehicle handling in smart cities.
• Mitsubishi Electric Acquisition: Mitsubishi Electric acquired a majority stake in a European automated parking startup to expand its presence in the growing smart parking market.
• Klaus Multiparking GmbH Innovation: Klaus Multiparking introduced a new vertical parking system with higher capacity, targeting commercial and residential complexes in urban areas.
• CityLift Parking Rollout: CityLift Parking has launched a state-of-the-art parking system at an airport in California, boasting increased parking efficiency and reduced environmental impact.

List of Leading Companies:

• Bosch Mobility Solutions
• CityLift
• Fujita Corporation
• JAPARK
• Klaus Multiparking GmbH
• Mitsubishi Electric
• Nissan Motor Co., Ltd.
• Parkplus
• Ruf Parking GmbH
• Shenzhen Hanchuan Automation
• Smarking Inc.
• Toyota Industries Corporation
• U-Box Parking
• Unitronics
• Wohr Parking Systems

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