Global Automated Parking System Market

The global automated parking system market is anticipated to grow with a CAGR of 14.06% over the forecast period, i.e., 2023-2035. Factors such as rapid urbanization, an increase in number of vehicles, and a reduction in parking spaces in urban areas are expected to boost the market growth of the automated parking system market globally. The market is estimated to garner a revenue of near to USD 9.47 billion by the end of 2035, up from a revenue of about 1.73 billion in the year 2022.

The global automated parking system market is segmented into numerous segments, which include segmentation by automation, type, end user, and by region. By automation, the market is segmented into semi-automated and fully-automated. By the end of 2035, the fully-automated segment is anticipated to garner the largest revenue and it will grow at the highest CAGR of 14.24% over the projected time frame.

On the basis of region, the global automated parking system market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. The market in Europe, amongst the market in all the other regions, is anticipated to garner the largest revenue of USD 2.81 billion by the end of 2035. Moreover, in the year 2022, the market in the region generated a revenue of around USD 601.1 million.

Some of the prominent industry leaders in the global automated parking system market that are included in our report are Westfalia Technologies Inc., Unitronics (U-Tron), WÖHR Autoparksysteme GmbH, Skyline Parking AG (Fehr Lagerlogistik AG), Klaus Multiparking GmbH, Park Plus, Inc., Parkmatic, and Swiss-Park GmbH.