Automated Parking Systems Market size worth $ 3.71 Billion, Globally, by 2028 at 13.15% CAGR: Verified Market Research®

News provided by

Mar 28, 2022, 09:15 ET

The Automated Parking Systems Market is growing as a result of the increasing number of high-rise buildings and luxury projects, an increasing fleet of personal and commercial vehicles, coupled with a shortage of parking spots, and other factors.

JERSEY CITY, N.J., March 28, 2022 /PRNewswire/ -- Verified Market Research recently published a report, "Automated Parking Systems Market" By Automation Level (Semi-Automated and Fully-Automated), By System Type (Software and Hardware), By End-User (Commercial, Residential, and Mixed-use), and By Geography. According to Verified Market Research, the Global Automated Parking Systems Market size was valued at USD 1.39 Billion in 2020 and is projected to reach USD 3.71 Billion by 2028, growing at a CAGR of 13.15% from 2021 to 2028.

Download PDF Brochure:

https://www.verifiedmarketresearch.com/download-sample/?rid=221370

Browse in-depth TOC on "Automated Parking Systems Market"

202 - Pages
126 – Tables
37 – Figures

Global Automated Parking Systems Market Overview

An increasing fleet of personal and commercial vehicles, coupled with a shortage of parking spots, has resulted in traffic jams in various regions around the world. The wide use and growing number of automobiles in use across the world have raised concerns about parking space issues for these vehicles. To address these issues and maximize the use of limited parking spaces, automated parking systems have become more popular in most major cities. Owing to a lack of parking places, incidences of no parking zone violations have grown significantly, obstructing traffic on that road and creating a situation of high traffic congestion.

In order to successfully address this issue and cope with the current situation. The market is growing as a result of the increasing number of high-rise buildings and luxury projects, as well as real-estate developers' increased willingness to use automated solutions. The infrastructure industry is also expected to grow at a significant CAGR during the forecast period, according to the World Construction Network. However, despite the growing demand for automated parking solutions across several regions, the initial investment required to develop parking systems is significant. This high capital requirement for the construction of such systems may restrain market expansion to a certain extent.

Key Players

The major players in the market are Mitsubishi Electric Corporation, AJ Automated Parking Systems, Expert Parking, Unitronics Corporation, Klaus Multiparking, Westfalia Parking, Wohr, Robotic Parking Systems, Inc., CityLift, and FATA Automation.

Verified Market Research has segmented the Global Automated Parking Systems Market On the basis of Automation Level, System Type, End-User, and Geography.

Industrial Robotic Motors Market, By Automation Level

Semi-Automated
Fully-Automated

Industrial Robotic Motors Market, By System Type

Software
Hardware

Industrial Robotic Motors Market, By End-User

Commercial
Residential
Mixed-use

Automated Parking Systems Market by Geography

North America

U.S
Canada
Mexico

Europe

Germany
France
U.K
Rest of Europe

Asia Pacific

China
Japan
India
Rest of Asia Pacific

ROW

Middle East & Africa
Latin America

Browse Related Reports:

Parking Management Market By Type (Solutions, Services), By Parking Site (On-Site Parking, Off-Site Parking), By Geography, Forecast, 2021-2028

Smart Parking Market By Component (Hardware, Software & Services), By Technology (IoT, Ultrasonic, & RFIDs), By Type (Off-Street & On-Street), By Application (Security & Surveillance, Smart Payment System, E parking, License Plate Recognition), By End-User (Commercial & Government), By Geography, Forecast, 2021-2028

Smart Transportation Market By Transportation Mode (Roadways, Railways, Airways, and Maritime), By Solution (Hybrid Ticketing Management, Parking Management & Guidance), By Services (Business, Professional, and Cloud), By Geography, Forecast, 2021-2028

Automotive Collision Avoidance Systems Market By Product (Radar, Lidar, Camera, Ultrasonic), By Application (Passenger Cars and Commercial Vehicles), By Geography, Forecast, 2021-2028

Top 7 Parking Management Systems transforming megacities into smart cities

Visualize Automated Parking Systems Market using Verified Market Intelligence:-:

Verified Market Intelligence is our BI Enabled Platform for narrative storytelling of this market. VMI offers in-depth forecasted trends and accurate Insights on over 20,000+ emerging & niche markets, helping you make critical revenue impacting decisions for a brilliant future.

VMI provides a holistic overview and global competitive landscape with respect to Region, Country, and Segment, and Key players of your market. Present your Market Report & findings with an inbuilt presentation feature saving over 70% of your time and resources for Investor, Sales & Marketing, R&D, and Product Development pitches. VMI enables data delivery In Excel and Interactive PDF formats with over 15+ Key Market Indicators for your market.

About Us

Verified Market Research is a leading Global Research and Consulting firm servicing over 5000+ customers. Verified Market Research provides advanced analytical research solutions while offering information enriched research studies. We offer insight into strategic and growth analyses, Data necessary to achieve corporate goals and critical revenue decisions.

Our 250 Analysts and SME's offer a high level of expertise in data collection and governance use industrial techniques to collect and analyze data on more than 15,000 high impact and niche markets. Our analysts are trained to combine modern data collection techniques, superior research methodology, expertise and years of collective experience to produce informative and accurate research.

We study 14+ categories from Semiconductor & Electronics, Chemicals, Advanced Materials, Aerospace & Defense, Energy & Power, Healthcare, Pharmaceuticals, Automotive & Transportation, Information & Communication Technology, Software & Services, Information Security, Mining, Minerals & Metals, Building & construction, Agriculture industry and Medical Devices from over 100 countries.

Contact Us

Mr. Edwyne Fernandes
Verified Market Research®
US: +1 (650)-781-4080
UK: +44 (753)-715-0008
APAC: +61 (488)-85-9400
US Toll Free: +1 (800)-782-1768
Email: [email protected]
Web: https://www.verifiedmarketresearch.com/
Follow Us: LinkedIn | Twitter

SOURCE Verified Market Research