Automated Parking System Market Trends, Analysis & Forecast, 2032

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Automated Parking System Market Trends, Analysis
Forecast, 2032
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• Industry Insights

• Automated parking system market size is projected
  to expand at over 16.5 CAGR from 2024 to 2032.
  The rising urbanization and the resultant
  scarcity of parking spaces in city centers is
  fueling the adoption of automated solutions to
  optimize available space efficiently. The surging
  demand for smart and convenient parking solutions
  coupled with the rapid advancements in sensor
  technology and automation will also amplify the
  product demand.
• For instance, in December 2022, Bosch and
  Mercedes-Benz Group received approval for a fully
  automated self-parking system for allowing cars
  to autonomously navigate to reserved spots in the
  Mercedes-Benz Museum parking garage in Stuttgart,
  Germany.

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• Additionally, the rising environmental concerns
  and the growing need to reduce emissions will
  also boost the adoption of automated parking
  systems, due to their contribution in reducing
  vehicle circulation and idling.
• Based on type, the industry value from the fully
  automated type segment is projected to rise at
  substantial CAGR from 2024 to 2032, owing to the
  increasing demand for hands-free and efficient
  parking solutions. The rising urbanization,
  limited parking space, and the increasing
  advancements in sensor technology, AI, and
  connectivity are also contributing to enhanced
  reliability and effectiveness of fully automated
  systems.
• Automated parking system market share from the
  residential end-use segment is estimated to
  exhibit significant CAGR between 2024 and 2032.
  The growth can be ascribed to the rising demand
  for efficient and space-saving parking solutions,
  increasing urbanization and limited residential
  parking spaces. The growing desire for
  convenience, security, and streamlined parking
  experiences will also fuel the product adoption
  in residential areas.

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• Regional Analysis

• Asia Pacific automated parking system industry is
  projected to expand at rapid pace from 2024 to
  2032. This is due to the rapid urbanization,
  escalating vehicle ownership, and the growing
  need for efficient parking solutions. Moreover,
  the increasing awareness of smart city
  initiatives, technological advancements, and
  government support will further contribute to the
  widespread adoption of automated parking systems
  across the region.

• Competitive Analysis

• IHI Corporation
• MHE Demag (S) Pte Ltd
• Park Assist
• Westfalia Parking
• Lodgie Industries
• Unitronics Corporation
• Robotic Parking Systems, Inc.
• Fata Automation
• Wohr Parking System Pvt. Ltd.
• Parkmatic

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