The USA Automated Parking System Market size is expected to reach $1.4 billion by 2030, rising at a market growth of 16.4% CAGR during the forecast period.
In the US, automated parking systems are being deployed in various settings, including commercial buildings, residential complexes, and mixed-use developments, with the aim of addressing parking challenges in densely populated urban areas. The market is witnessing significant investments in research and development to enhance the efficiency and reliability of automated parking systems. Key players in the market are focusing on technological advancements, such as the integration of IoT (Internet of Things) and AI (Artificial Intelligence) to make parking systems smarter and more responsive to user needs.
Several cities in America are also implementing or considering the implementation of automated parking systems as part of their smart city initiatives to address parking challenges and improve overall urban mobility. The adoption of these systems varies across different regions based on factors like infrastructure readiness, regulatory environment, and consumer awareness. Many states and local governments offer incentives such as tax credits, rebates, or subsidies to encourage the adoption of sustainable and innovative transportation solutions. These incentives can significantly reduce the upfront costs of implementing automated parking systems, making them more financially viable for property developers and parking facility operators.
Several technological advancements have increased the demand for automated parking systems in America. One notable advancement is the development of advanced sensor technologies. These sensors, including ultrasonic sensors, cameras, and lidar, have significantly improved the accuracy and efficiency of automated parking systems.
Government initiatives aimed at promoting smart city development, reducing traffic congestion, and improving urban mobility have also contributed to the growth of the automated parking system market. In some cases, government incentives and regulations have encouraged the adoption of automated parking solutions.
The US Department of Transportation (USDOT) has offered grants and funding programs to support the deployment of smart city technologies, including automated parking systems. These funds aim to improve urban mobility, reduce traffic congestion, and enhance transportation infrastructure across cities in the United States. Similarly, government agencies, including the National Science Foundation (NSF) and the Department of Energy (DOE), provide research and development grants to support the advancement of innovative technologies. These grants can help fund the development of new automated parking system technologies, driving innovation in the industry.
The increasing demand for automated parking systems in America is closely linked to rapid urbanization. As cities across the country continue to expand and accommodate growing populations, the need for efficient parking solutions becomes more pressing. Urban areas are experiencing higher population densities, leading to greater competition for parking spaces. Traditional parking facilities, such as surface lots and multi-story garages, often struggle to meet the demand, resulting in congestion, long wait times, and frustration for drivers.
Due to urban growth, urban areas have grown denser, changing from an average population density of 2,343 in 2010 to 2,553 in 2020, as reported by the United States Census Bureau. 225 urban areas may also qualify in accordance with the housing unit threshold for 2020. Of the nation's four census regions, the West Region remains the most urban, with 88.9% of its population residing within an urban area, followed by the Northeast Region, at 84.0%. The South and Midwest regions continue to have lower percentages of the population living in urban areas than the nation, with rates of 75.8% and 74.3%, respectively. Therefore, as the trend of urbanization continues, the demand for these innovative parking solutions is expected to rise, driving further growth in the automated parking system market.
A significant factor driving the demand for fully automated tower systems (FATS) is the need for space efficiency. In urban environments, where real estate is at a premium, FATS can make more efficient use of available land by stacking vehicles vertically. This can free up valuable space for other purposes, such as commercial or residential developments, contributing to the overall urban landscape. Additionally, the convenience and time-saving benefits of FATS are contributing to their increasing popularity. These systems automate the parking process, allowing drivers to drop off their vehicles at a designated entrance and let the system handle the rest.
The safety and security features of FATS are also driving their demand. These systems are equipped with robust access control and surveillance systems, which can help prevent unauthorized access and protect vehicles from theft or damage. This added security can be especially appealing in urban environments where vehicle security is a concern. Furthermore, advancements in technology have made FATS more reliable and efficient, further contributing to their rising demand. As the technology continues to improve, FATS are becoming more cost-effective and easier to implement, making them an attractive option for property developers, urban planners, and parking facility operators.
Several companies are active in the automated parking system market in America, offering a range of solutions from fully automated parking garages to robotic valet services. Some of the prominent companies operating in the US automated parking system market include CityLift Parking, Skyline Parking, Westfalia Technologies, Unitronics, ParkPlus, Robotic Parking Systems, Parkmatic, Harding Steel, Boomerang Systems, Inc., Automated Parking Corp., Klaus Multiparking Systems, etc.
Westfalia offers a range of solutions, including multi-level parking systems and automated parking garages, leveraging its proprietary technology to optimize space utilization and enhance operational efficiency. CityLift Parking is another notable participant in the US market, specializing in tailored automated parking solutions for urban developments and commercial properties. CityLift's offerings include puzzle parking and automated valet parking systems designed to meet the specific requirements of its clients while maximizing parking space and efficiency.
Skyline Parking AG is another player that has made a mark in the US automated parking system market. The company focuses on developing and implementing innovative parking solutions, including vertical and robotic parking systems, designed to address the complexities of urban parking.
Robotic Parking Systems is recognized for its expertise in fully automated parking garages, where robotics and automation are employed to park and retrieve vehicles. The company's solutions are geared towards maximizing space utilization in urban environments, offering a compelling solution to the challenges posed by limited parking space.
These companies, along with others in the industry, such as Parkmatic, Harding Steel, and Klaus Multiparking Systems, collectively contribute to the dynamism and innovation within the US automated parking system market. Their expertise in developing and deploying advanced parking solutions plays a crucial role in meeting the growing demand for efficient, space-saving parking facilities in urban areas across the United States.
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