Automated Parking Management Systems Market to Reach $5.7 Billion by 2031, Growing at a CAGR of 15.1% from 2022 to 2031

PORTLAND, OREGAON, UNITED STATES, February 26, 2024 /EINPresswire.com/ -- According to a new report published by Allied Market Research, titled, "Automated Parking Management Systems Market Size, Share, Competitive Landscape and Trend Analysis Report by Component (Hardware, Software), by Platform Type (Palleted, Non-palleted), by Automation Level (Fully Automated, Semi-automated), by End-use (Residential, Commercial, Mixed-use): Global Opportunity Analysis and Industry Forecast, 2021-2031."

𝐀𝐮𝐭𝐨𝐦𝐚𝐭𝐞𝐝 𝐏𝐚𝐫𝐤𝐢𝐧𝐠 𝐌𝐚𝐧𝐚𝐠𝐞𝐦𝐞𝐧𝐭 𝐒𝐲𝐬𝐭𝐞𝐦𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐭𝐚𝐭𝐢𝐬𝐭𝐢𝐜𝐬 𝟐𝟎𝟐𝟏-𝟐𝟎𝟑𝟏

The automated parking management systems market was valued at $1.4 billion in 2021, and is estimated to reach $5.7 billion by 2031, growing at a CAGR of 15.1% from 2022 to 2031.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 : https://www.alliedmarketresearch.com/request-sample/7474

Europe is expected to dominate the global automated parking management systems market in 2021 owing to increase in adoption of advanced parking solutions. In addition, market participants from the Europe automated parking management systems market are leveraging investments, acquisition, partnerships with local conveyer providers, and continuous development as strategic to capture the market share in the region.

𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 :

Amano Corporation,
FATA Automation,
Fehr Lagerlogistik AG (Skyline Parking),
Flowbird,
IBM Corporation,
Klaus Multiparking GmbH,
Robotic Parking Systems, Inc.,
Siemens AG,
Skidata GmbH,
Streetline, Inc.,
Swarco,
T2 Systems,
Unitronics (1989) (RG) Ltd,
Westfalia Technologies Inc.,
Xerox Corporation.

Many residential buildings implement automated parking management systems for security and to overcome the problem of limited parking space. For instance, in 2021, Laconia Development unveiled the Spire, which is a $350 million, 41-story luxury condominium tower and is situated in Seattle. The tower amenities includes an on-site café, a two-story lobby, co-working spaces, fitness center, private theater, and a clubhouse. The building also has a fully automated parking system. Residents can drive their cars into one of three designated storage bays, from which a computer controlled mechanism automatically parks the cars inside a vehicle storage system. Such initiatives are expected to create a lucrative opportunity for the market during the forecast period.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰 : https://www.alliedmarketresearch.com/automated-parking-management-systems-market/purchase-options

The growth of the global automated parking management systems market is propelling, due to rise in the number of vehicles globally, increase in demand for green parking solutions, and rise in urbanization. However, high initial investment is the factor hampering the growth of the market. Furthermore, initiative for smart cities is the factor expected to offer growth opportunities during the forecast period.

𝐂𝐎𝐕𝐈𝐃-𝟏𝟗 𝐈𝐦𝐩𝐚𝐜𝐭 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬 :

The COVID-19 pandemic had a significant impact on the automated parking management systems market. Owing to government enforced lockdown, activities such as new vehicle manufacturing and sales were hampered. Due to supply-chain disruptions, several automobile manufacturers temporarily suspended the production of vehicles across the globe. For instance, in 2020, global automobiles production recorded a drop of 16% in vehicle production. In addition, in March 2020, in India, Hyundai suspended manufacturing operations at its Chennai facility due to the COVID-19 pandemic.

Several automobile manufacturers faced shortage of components, such as semiconductor chips and others, which further resulted in delay in production of automobiles. For instance, in 2020, Nissan had to halt production for two days at a plant in Japan, which manufactures Serena and X-Trail models due to shortage of automotive parts.

In addition, during the pandemic period, as the movement of vehicles was restricted along with the other restrictions, cities observed significant reduction in traffic overcrowding. Requirement for parking system declined in several countries, which resulted in decline in the growth of the automated parking management systems market

𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 : https://www.alliedmarketresearch.com/purchase-enquiry/7474

𝐊𝐄𝐘 𝐅𝐈𝐍𝐃𝐈𝐍𝐆𝐒 𝐎𝐅 𝐓𝐇𝐄 𝐒𝐓𝐔𝐃𝐘 :

By component, the software segment is anticipated to exhibit significant growth in the near future.

By platform type, the non-palleted segment is anticipated to exhibit significant growth in the near future.

By automation level, the fully automated segment is anticipated to exhibit significant growth in the near future.

By end-use, the residential segment is anticipated to exhibit significant growth in the near future.

By region, Asia-Pacific is anticipated to register the highest CAGR during the forecast period.

𝐑𝐞𝐚𝐝 𝐌𝐨𝐫𝐞 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 :

Automotive Seat Market :
https://www.alliedmarketresearch.com/automotive-seat-market

Automotive Tubeless Tire Market :
https://www.alliedmarketresearch.com/automotive-tubeless-tire-market

Automotive Fuel Delivery and Injection Systems Market :
https://www.alliedmarketresearch.com/automotive-fuel-delivery-and-injection-systems-market

David Correa
Allied Market Research
+1 5038946022
email us here
Visit us on social media:
Facebook
Twitter
LinkedIn