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Automated Parking Management Systems Market Size Expected to Demonstrate Optimal Growth at a Healthy CAGR by 2030

As per the report published by The Brainy Insights, the global automated parking management systems market is expected to grow from USD 2.07 billion in 2021 to USD 6.99 billion by 2030, at a CAGR of 14.50% during the forecast period 2022-2030.  North America region emerged as the largest market for the global automated parking management systems market with a 45.06% share of the market revenue in 2021. The risen demand for high-end residential buildings drives the market’s growth during the forecast period in this region. Additionally, the rising adoption of new & eco-friendly technologies & leading manufacturers in the area also helps drive the market growth. In addition, the Asia Pacific region is expected to show the fastest CAGR growth over the projection period due to the increasing vehicle fleet. Also, the growing government investment in the development of sophisticated infrastructure is boosting the market growth during the forecast period in this region.

Automated Parking Management Systems Market Size by System Type, Design Model, Platform Type, End User, Automation Level, Regions, Global Industry Report, Share, Growth, Trends, and Forecast 2022 to 2030

Leading companies in the industry include Parkmatic, kyline Parking AG, CityLift Parking, 5BY2, Automotion Parking Systems, Klaus Multiparking Systems Pvt. Ltd, EITO & Global Inc., Katopark, IHI, PARKMATIC TM, Nissei Build Industries, DONGYANG MENICS,  Dayang Parking Co. Ltd, FATA AUTOMATION, Qingdao Bortome, Simmatec, PARKPLUS, Sotefin, Robotic Parking Systems Inc, UNITRONICS, Tada, WÖHR, Westfalia Parking Solutions, and among others which are offering greater opportunities and are continuously focused on new product developments and venture capital investments to obtain market share.

The system type segment of automated parking management systems market is divided into software and hardware. The hardware led the market with a market share of 57.12% in 2021. This growth is attributed to the raised efficiency & productivity across the board. The design model of automated parking management systems market segment is divided into electro-mechanical and hydraulics. The hydraulics segment led the market with a market share of 57.07% in 2021. This growth is attributed to the increasing demand for advanced agriculture equipment. The platform type segment  of automated parking management systems market is divided into non-palleted and palleted. The palleted segment led the market with a market share of 58.02% in 2021. This growth is attributed to cost-effectiveness. The end user segment is divided into residential, commercial, and mixed use. The residential segment led the market with a market share of 40.02% in 2021. This growth of industry is attributed to rapid urbanization.

The automation level segment of automated parking management systems market is divided into fully-automated and semi-automated. The semi-automated segment led the market with a market share of 57.14% in 2021. This growth is attributed to the demand for safety & convenience for the passenger.

The strong demand for customer convenience & comfort, expansion of the infrastructure enterprise, rise in the sale of vehicles worldwide, and increasing demand for green & sustainable parking solutions are propelling the automated parking management systems market’s growth.  Further, the rising number of cars and the growing e-commerce sector also boost the growth of the automated parking management systems market.

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Santosh S

Santosh is a research analyst with an active portfolio of around 300 research reports. With an experience of more than 15 years, he is passionate about studying global companies and economies to analyze market trends and generate forecasts. He contributes his knowledge to some of the leading websites like PRNewswire, MarketWatch, GlobeNewswire, DigitalJournal, etc.

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