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Automotive Automated Parking System Market by Automation Level (Fully-automated, Semi-automated), System Type (Software, Hardware), End-User (Residential, Commercial) Region - Global Forecast 2021–2027

Format: PDF | Pages: 387 | Report ID: MRS1004


Report Description

The global automotive automated parking system market size is estimated at USD 1,200.4 million in 2020, expanding at a CAGR 15.7% from 2021-2027 to reach 1,950.6 million USD in 2027.

Market Dynamics

Automotive automated parking systems are considered environment friendly and ecological as they help in reducing sound pollution as well as atmospheric pollution. According to experts, a fully automated parking system decreases air pollution as compared to conventional parking systems. With an automated parking system, the parking space can be used better than the conventional parking system as it allows more cars/vehicles to be parked in the available space.

An increase in the number of cars & automated vehicles on road decreased availability of parking space around the world are the significant factors driving the growth of the global automotive automated parking system market. As per the International Organization of Motor Vehicle Manufacturers, the average motorization rate across the globe has increased from 170 vehicles/1,000 inhabitants in 2012 to 182 vehicles/inhabitants in 2015. Thus, parking has become a crucial issue in major cities of many parts of the world to a large number of vehicles. The inadequacy of parking space is leading to excess traffic jams & congestions, noise pollution, air pollution, and waste fuel. In addition, the growing demand for autonomous vehicles is another factor expected to boost the market growth in the coming years. Moreover, the various governments and automotive manufacturers are increasingly focusing on promoting & developing safe driving technologies, particularly in passenger cars, which is predicted to create lucrative growth opportunities for the global market. For example, the Canadian government, in October 2015 took measures and announced safe testing for every vehicle and deployment of connected and automated connected vehicles, and thereby creating awareness regarding driver-assistance technologies. However, huge installation costs associated with automotive automated parking systems are estimated to hamper the market growth in the coming years.

Among the automation level segment, the fully-automated sub-segment is predicted to account for the majority of share in the global industry, owing to the high demand for convenience and comfort from consumers and the growing adoption of fully automated parking systems. Besides, benefits associated with fully automated parking systems, such as increased capacity, reduced emission, high efficiency, and increased safety & convenience are driving the segmental market growth. Furthermore, the Europe region is predicted to attain a leading position in the global industry in terms of revenue share during the forecast period. This regional growth can be attributed to the growing adoption of new & eco-friendly technologies and the presence of leading manufacturers in the region.

Some of the key players operating in the automotive automated parking system market globally include Westfalia Parking e ShinMaywa Industries, Klaus Multiparking, Lodgie Industries, Wohr Parking, Skyline Parking, Fata Automation, Unitronics Corporation, Robotic Parking Systems Inc., and Eito & Global. Mergers and acquisitions, product launches, and partnerships are some of the strategies adopted by these key players to hold a significant position in the global industry. For instance, in January 2020, Klaus Multiparking, the Germany-based leading manufacturers of car parking systems and double parkers, entered into a collaboration with British construction & real estate company, Lendlease to develop a fully automated parking system, namely ‘MasterVario R3L’ at Rathbone Square, London.

The report consists of an overview of industry chain structure, elaborates industry environment, and analyzes market size and forecast of the Automotive Automated Parking System Market by vehicle type, filter type, filter material, filter media, sales channel, and region. Besides, this report introduces the market competition situation among the vendors and company profiles. Furthermore, market price analysis and value chain features are covered in this report.

Company Coverage (Company Profile, Sales Revenue, Price, Gross Margin, Main Products, etc.):

  • Westfalia Parking e ShinMaywa Industries
  • Klaus Multiparking
  • Lodgie Industries
  • Wohr Parking
  • Skyline Parking
  • Fata Automation
  • Unitronics Corporation
  • Robotic Parking Systems Inc.
  • Eito & Global

Automation Level Coverage (Market Size & Forecast, Main Consumer Analysis, etc.):

  • Fully-automated
  • Semi-automated

System Type Coverage (Market Size & Forecast, Main Consumer Analysis, etc.):

  • Software
  • Hardware

End-User Coverage (Market Size & Forecast, Main Consumer Analysis, etc.):

  • Residential
  • Commercial

Region Coverage (Regional Consumption, Demand & Forecast by Countries, etc.):

  • North America (U.S., and Canada)
  • Europe (Germany, U.K., France, Italy, Spain, etc.)
  • Asia-Pacific (China, India, Japan, Indonesia, Malaysia, Australia, South Korea, etc.)
  • South America (Brazil, Mexico, Argentina, etc.)
  • Middle East & Africa (Saudi Arabia, Kuwait, UAE, South Africa, etc.)

Frequently Asked Questions

The global automotive automated parking system market size is estimated at USD 1,200.4 million in 2020, expanding at a CAGR 15.7% from 2021-2027 to reach 1,950.6 million USD in 2027.
North America captured the highest revenue in 2021 and is projected to continue its dominance during the study period.
The global industry is growing at a promising growth rate over the study period.
Asia Pacific (especially China, and India) region is projected to grow at the fastest growth rate during the study period.
Some of the key players operating in the automotive automated parking system market globally include Westfalia Parking e ShinMaywa Industries, Klaus Multiparking, Lodgie Industries, Wohr Parking, Skyline Parking, Fata Automation, Unitronics Corporation, Robotic Parking Systems Inc., and Eito & Global. Mergers and acquisitions, product launches, and partnerships are some of the strategies adopted by these key players to hold a significant position in the global industry.

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