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LONDON, GREATER LONDON, UNITED KINGDOM, June 6, 2025 /EINPresswire.com/ -- The automated parking system market has seen rapid growth in recent years, soaring from $2.34 billion in 2024 to an estimated $2.63 billion in 2025, resulting in a compound annual growth rate CAGR of 12.3%. This growth can be attributed to several key factors, including space constraints in urban areas, environmental and sustainability concerns, the alleviation of traffic congestion, and the enhancement of safety and security. Increased adoption in high-density areas has also played a significant role in this market growth.
What Can We Expect For The Future Growth Of The Automated Parking System Market Size?
This trend of growth is set to continue into the foreseeable future, with the market forecast to reach $4.96 billion by 2029 at a CAGR of 17.2%. Predicted market drivers for this period consist of a rise in electric vehicles EVs, growing consumer demand for convenience, the integration of smart city concepts, and the drive towards sustainable urban development. Urbanization and space constraints, traffic congestion and accessibility, technological advancements, and safety and security will be further magnified trends in the forecast period.
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What Are The Core Growth Drivers Of The Automated Parking System Market?
A notable driver of this market expansion is the increasing prevalence of high-rise structures. High-rises, technically classified as buildings or structures measuring between 75 and 491 feet high, frequently integrate automated parking systems to withstand earthquakes, provide safety mechanisms, and support pallets under vehicles. For instance, as of the July 2022 data release from the Building Safety Programme, 95% of all identified high-rise residential and publicly owned buildings in England had either completed or started remediation work. Such a trend represents an overall influx of high-rise structures, hence, propelling the growth of the automated parking system market.
Who Are The Key Industry Players Shaping The Automated Parking System Market Landscape?
Major players in the automated parking system market include the likes of Westfalia Technologies Inc., Unitronics Systems Inc., Klaus Multiparking Systems Pvt Ltd., Robotic Parking Systems Inc., City Lift Parking LLC, and Wohr Parking System Pvt Ltd., among many others. These industry leaders are continually exploring and developing innovative solutions to enhance parking efficiency and optimize space utilization. One such innovation is the Advanced Automated Parking System AAPS, a highly sophisticated parking solution that fully automates the process of parking and retrieving vehicles.
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How Is the Global Automated Parking System Market Segmented?
The market is segmented by component into hardware and software. By structure type, it includes AGV System, Silo System, Tower System, Rail Guided Cart RGC System, Puzzle System, and Shuttle System. It's further segmented by platform into Palleted and Non-Palleted, and by automation level into Fully Automated and Semi Automated. The subsegments by hardware include parking sensors, cameras, image processing units, control units and servers, and entry or exit barriers, among others. By software, the segment includes parking management software, reservation and payment systems, and other tools.
What Are The Regional Insights Of The Automated Parking System Market?
In terms of regional insights, Western Europe emerged as the largest region in the automated parking system market in 2024. However, it's predicted that the Asia-Pacific region will see the fastest growth in the forecast period. Other regions covered in the report include Eastern Europe, North America, South America, Middle East, and Africa.
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