Automated Parking System Market Analysis

Automation (Semi-Automated, Fully Automated)

The fully automated segment in the automated parking system market is expected to attain at CAGR of 14.24% during the forecast period. Fully automated parking systems are in increasing demand in developing economies owing to their advantages over semi-automated alternatives, including higher efficiency, increased capacity, lower emission, and improved safety & and convenience. For instance, Kuwait's Al Jahra has the biggest automated parking facility in the world, with over 2,300 parking spaces.

End User (Residential, Commercial, Mixed)

Automated parking system market from the commercial segment is expected to grow at a significant CAGR of 14.31 % over the forecast period. 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 market includes the following segments: