The Asia Pacific Automated Parking System Market would witness market growth of 18.0% CAGR during the forecast period (2023-2030).
Within the dynamic field of transportation and urbanization, the market arises as a revolutionary force that fundamentally alters the understanding and engagement with parking infrastructure. As cities expand, population densities rise, and the demand for efficient land use intensifies, traditional parking solutions face challenges that demand innovative alternatives. Automated parking systems (APS), driven by advanced technologies, represent a paradigm shift in urban mobility, offering a blend of space optimization, sustainability, and seamless user experience.
Additionally, the adoption of automated parking systems reflects the growing need for intelligent, space-efficient solutions in urban environments. Traditional parking facilities, characterized by sprawling lots and multi-level structures, are increasingly incompatible with the limited space available in densely populated urban areas. As cities grapple with congestion, pollution, and the imperative for sustainability, APS emerges as a viable solution, optimizing available space and aligning with the broader goals of smart city initiatives.
Many Indian cities face challenges related to inadequate parking infrastructure to accommodate the growing number of vehicles. Automated parking systems can be a practical solution to make the most efficient use of available land. As per the data published in the report titled THE AUTOMOBILE SECTOR IN INDIA, released in 2023 by the Government of India, in the automotive industry of India, passenger vehicles comprised 18% of the market in 2021-22, while two-wheelers held a market share of 77%. Sales of passenger vehicles are dominated by compact and midsize vehicles. Thus, increasing vehicle numbers in Asia Pacific will help expand the regional market.
The China market dominated the Asia Pacific Automated Parking System Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $508.5 million by 2030. The Japan market is experiencing a CAGR of 17.2% during (2023 - 2030). Additionally, The India market would exhibit a CAGR of 18.7% during (2023 - 2030).
Based on Component, the market is segmented into Hardware and Software. Based on Platform Type, the market is segmented into Palleted and Non-Palleted. Based on Automation Level, the market is segmented into Fully Automated and Semi-Automated. Based on End Use, the market is segmented into Commercial, Residential and Mixed-Use. Based on Structure Type, the market is segmented into Tower System, Puzzle System, Silo System, AGV System, Shuttle System, and Rail Guided Cart (RGC) System. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Global Automated Parking System Market is Predict to reach $6.4 Billion by 2030, at a CAGR of 17.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Skyline Parking, Westfalia Technologies, Inc., Unitronics (1989) (R”G) Ltd, KLAUS Multiparking GmbH, Robotic Parking Systems Inc., Park Plus, Inc., WOHR Autoparksysteme GmbH, Parkmatic, and EITO&GLOBAL INC.
By Component
By Platform Type
By Automation Level
By End Use
By Structure Type
By Country
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