Global Market Size, Forecast, and Trend Highlights Over 2025-2037
Automated Parking System Market size was valued at USD 2.33 billion in 2024 and is expected to reach USD 16.97 billion by 2037, registering around 16.5% CAGR during the forecast period i.e., between 2025-2037. In 2025, the industry size of automated parking system is evaluated at USD 2.64 billion.
The automated parking system market is expected to grow on the back of a growing number of vehicles worldwide, requiring better, space-efficient parking solutions. With better income and living standards than before, people are purchasing personal vehicles. According to European Automobile Manufacturers Association in 2023, 85.4 million motor vehicles are produced globally every year.
The growth of the market can also be ascribed to rising urbanization across the world. According to the World Bank data currently, 4.4 billion inhabitants are living in the cities. Governments all across the world are investing in providing a robust infrastructure for combating traffic congestion. The digital systems minimize human error and keep track of vehicles without human intervention.
Automated Parking System Sector: Growth Drivers and Challenges
Growth Drivers
- Decreasing parking space in cities: Lack of parking space has become an alarming issue causing traffic deadlocks. With tremendous pressure on roads, high emission rates, and charting out land for residences, offices, and other development projects, parking spaces in cities are rapidly declining. For instance, according to UNSW Business Think in 2024, by the end of 2025, parking demand will reach 600 million spots in China. Automated parking is preferred due to benefits such as labor cost reduction, enhanced revenue management, improved record keeping, etc.
- Increase in smart city projects: There has been increased establishment of smart all across the globe. According to the World Economic Forum in 2022, smart city governance initiatives have included 36 cities worldwide. An automated parking system is one of the vital elements of making a smart city efficient. The notion of automatic parking systems is flourishing because of the safety and comfort they provide to drivers. These factors are bolstering the market growth in the coming decade. The incorporation of technology into infrastructure supports growing population projections.
- Rising need for sustainable solutions: A fully automated parking system requires no drivers or attendants. By reducing waste and optimizing processes, automated parking systems help lower greenhouse gas emissions. According to the U.S. Environmental Protection Agency in April 2024, a typical passenger vehicle emits 4.6 metric tons of CO2 per year. By lessening the time that drivers spend looking for the parking space, an automated parking system helps in remarkably reducing traffic and vehicle emissions.
Challenges
- High Initial Cost of Installation: The cost of initial installation of these parking systems is high which emerges as a challenge for the automated parking system market. These systems use advanced technology features which are usually of high cost, thereby final price of the overall system becomes exorbitant. Owing to this, many developing and under-developed countries, are not able to plan out to deploy such parking systems.
- Apprehension of electrical and mechanical failure: Electricity shortage is a very common problem globally. Also, due to mechanical failure, the refurbishment process takes ample time. These malfunctions stop the services causing disruptions.
Automated Parking System Market: Key Insights
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
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CAGR |
16.5% |
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Base Year Market Size (2024) |
USD 2.33 billion |
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Forecast Year Market Size (2037) |
USD 16.97 billion |
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Regional Scope |
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Automated Parking System Segmentation
Automation (Semi-Automated, Fully Automated)
The fully automated segment in the automated parking system market is expected to attain the highest CAGR. Fully automated parking systems are in increasing demand in developing economies owing to their advantages over semi-automated alternatives. Some of the benefits include higher efficiency, increased capacity, lower emissions, and improved safety & and convenience. Also, smart cities are incorporating such as the Internet of Things, 5G, and data analysis. For instance, the robotic parking system at Al Jahara is the Guinness World Record holder for “Largest Automated Parking Facility” with almost 2,314 parking spaces.
End User (Residential, Commercial, Mixed)
The automated parking system market from the commercial segment is predicted to grow at a significant CAGR. The growth of this segment is accounted for by an increase in demand for parking management in shopping malls, stadiums, and commercial buildings, among others. Moreover, an increase in the development of buildings & luxury projects is expected to create incremental growth opportunities for the market in the coming years.
Our in-depth analysis of the global automated parking system market includes the following segments
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Automation |
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Type |
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End user |
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Customize this ReportAutomated Parking System Industry - Regional Synopsis
Europe Market Forecast
European automated parking system market is likely to capture revenue share of over 35% by 2037. The growth of the market in the region can be ascribed to the rising government investment in establishing robust parking infrastructure. There has been an increase in the initiative for building smart cities and residential and commercial buildings in the region, further bolstering the market's growth. According to the European Commission in 2023, the number of EU-registered passenger cars exceeded 256 million. This is instilling the demand for adequate infrastructure for the parking system. Also, an increase in the initiative for building smart cities in the region and rising demand from residential and commercial buildings will offer significant growth to the market.
Asia Pacific Market Forecast
The Asia Pacific automated parking system market is expected to witness exponential growth. The growth can be attributed to the high population and the existence of a high number of vehicles parking on roads. According to the United Nations Population Fund, currently, 4.3 billion people are living in the Asia Pacific region. Also, many smart city development projects are being initiated for citizens. The development of an automated parking system is also a part of this initiative. Mostly the government of the region runs these programs towards making smart cities to derive benefits from this infrastructure.
Companies Dominating the Automated Parking System Landscape
- Robotic Parking Systems, Inc.
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Unitronics (U-Tron)
- WÖHR Autoparksysteme GmbH
- Skyline Parking AG (Fehr Lagerlogistik AG)
- Klaus Multiparking GmbH
- Park Plus, Inc.
- Parkmatic
- Cleverciti Systems GmbH
- T2 Systems, Inc.
The competitive landscape of the automated parking system market is rapidly evolving as established key players, automotive giants, new entrants, and the government are investing in automating parking. Key players in the market are focused on developing new technologies and products catering to the stringent regulatory norms and consumer demand. These key players are adopting several strategies such as mergers and acquisitions, joint ventures, partnerships, and novel product launches to enhance their product base and strengthen their market position. Here are some key players operating in the global automated parking system market:
In the News
- In February 2025, the most modern automated parking system in the US started operation in the residential tower in Philadelphia. The system has 90 vehicles, with 85 spaces equipped for electric vehicle charging, setting new standards for convenience, efficiency, etc.
- In August 2024, the Calicut Airport launched an automated vehicle parking system with FastTag Reader installed. The new system will enhance the parking experience of passengers and visitors with minimum interference. Also, the system is capable of marking vehicle movement timing at the entry, parking area, and exit gate.
Author Credits: Saima Khursheed
- Report ID: 4605
- Published Date: Feb 19, 2025
- Report Format: PDF, PPT
