The Automated Car Parking System Market was valued at USD 1,519.4 Million in 2020 and is projected to witness a growth of 12.40% of CAGR during the forecast period (from 2018 – 2028). The major drivers of the growths are – Increasing number of vehicles, lesser land for parking, growing demand for green sustainable parking solutions, strong demand for consumer comfort and convenience, increasing demand for high-rise building, and smart cities initiatives from the government.
An Automated Car Parking System is a mechanical system designed to optimise the area or volume required for parking vehicles. Like a multi-story parking space, an Automated Car Parking System provides parking for vehicles on multiple levels stacked vertically to maximize the available number of parking spaces while minimizing area usage. The Automated Car Parking System, utilizes a mechanical system to transport vehicles to and from parking spaces in order to reduce space wasted in a multi-story parking. While a multi-story parking lot is similar to multiple parking lots stacked vertically, an Automated Car Parking System is more similar to an automated storage and retrieval system for cars.
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Further key findings from the report suggest-
- Amongst end user segment, the residential apartment segment is estimated to have an attractive growth owing to the increasing demand for Automated Car Parking System in luxury/ premium residential apartments, an increasing number of high-rise buildings, and builder's focus to build low to zero emission sustainable residential apartment.
- Unlike a palleted system which generally requires two pallets for parking and vehicle handling systems, a non-palleted system requires only one vehicle handling system. It is expected that a non-palletised type of Automated Car Parking System is capable of reducing vehicle parking cycle time by ~35%
- Vehicle parking system often has a direct impact on the feasibility of a real estate - residential and commercial projects. The designing of automated parking systems (APS) can help to increase the profitability of the project by offering vehicle parking to be located in areas where conventional vehicle parking would not provide flexibility or offer parking space for lesser number of vehicles
- Americans citizen spend an average of 17 hours per year searching for parking spaces, resulting in a cost of ~$350 per driver in wasted time, fuel and emissions resulting into increasing demand for Automated Car Parking System
- Automated parking systems require area about 70% smaller and 50% smaller volume to park the number of cars inside the parking zone as compared to conventional parking facilities.
- European region is expected to lead the global Automated Car Parking System market. The acceptance of an Automated Car Parking System is relatively higher in the U.K., Germany, Denmark, Norway, Switzerland, Spain, and the Netherlands.
- Rising adoption of an 2/3 Automated Car Parking System is anticipated to optimize the parking alternatives, save room and reduce vehicle emissions while parking
Key companies profiled in the report include:
Wohr (Germany), Klaus Multi Parking (Germany), CityLift (the US), Westfalia (Germany), Robotic Parking Systems Inc. (the US), Unitronics (Israel), Kyline Parking AG (Switzerland), Dayang Parking Co ltd (China) Automotion Parking Systems and other are operating in the automated parking system marketplace
Automated Car Parking System by Automation Level (Revenue, USD Million; 2018–2028)
- Fully Automated
- Semi-automated
Automated Car Parking System by Structure (Revenue, USD Million; 2018–2028)
- AGV System
- SILO System
- Tower System
- Rail Guided Cart (RGC)
- Puzzle System
- Shuttle System
Automated Car Parking System by Type (Revenue, USD Million; 2018–2028)
- Speedy Tower
- Rotary Carousel
- Optima Parking
- Multi Parking
- Lift and Slide Parking
Automated Car Parking System by Design (Revenue, USD Million; 2018–2028)
- Hydraulic
- Electro-mechanical
Automated Car Parking System by System (Revenue, USD Million; 2018–2028)
- Hardware
- Cameras
- Smart Meters
- Signage
- Parking Gates
- Others
- Software
- Parking Guidance System
- Analytics Solution
Automated Car Parking System by Platform (Revenue, USD Million; 2018–2028)
- Pallated
- Non-Pallated
Automated Car Parking System by End User (Revenue, USD Million; 2018–2028)
- Commercial
- Office Building
- Mall
- Other
- Residential
Automated Car Parking System by Parking Level (Revenue, USD Million; 2018–2028)
- Less than Level 5
- Level 5 – Level 10
- More than Level 10
Based on Region market is segmented into:
- North America
- Europe
- Asia-Pacific
- South America
- Middle East Africa
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