Automated Parking Management Systems Market – Snapshot
An automated parking management system is a technique for mechanically parking and retrieving vehicles in order to accommodate the increase in demand for safe and convenient parking, as the number of vehicles increase day by day. In an automated parking management system, the driver parks the vehicle at the entry gate of the parking area, and from there, the vehicle is automatically moved through the parking lot and parked in an available parking space. The process of vehicle parking is carried out through robotics arms, sensors, conveyer belts, mechanical lifts, and computer control units. An electronic data transfer bus is used to transport from arrival level to parking space and vice versa, without any human interference for parking assistance.
Automated parking management systems reduce the width and depth required for a parking space and distances between vehicle parking spaces, since no allowance needs to be made for driving the car into the parking space or for the opening of vehicle doors. Furthermore, no driving lanes or ramps are required to drive the vehicle toward the parking place. The ceiling height required is minimal, since there is no pedestrian traffic in the parking area. Furthermore, no walkways, stairways, or elevators are required to accommodate pedestrians in the parking area. These advantages are key drivers of the automated parking management system market. There is a general global trend of urbanization and centralization of financial districts, which attract a number of people to downtown areas. This continuously increasing influx of people gives rise to an ever rising need for parking spaces.
Automated parking management systems are used to park vehicles automatically in parking spaces, which reduces human error in parking. They also reduce the time required for people to look for parking space in the parking lot. These beneficial applications of automated parking systems are likely to boost their demand, especially in suburban areas and financial districts. The global automated parking management system market is projected to expand at a CAGR of more than 13.00% between 2018 and 2026.
The semi-automated parking system segment is projected to hold a prominent share of the market in 2017. Semi-automated is an old tried and proven technology with low manufacturing cost that is widely used in passenger vehicles.
In terms of technology, the market can be segmented into sensor technology, mobile technology, RFID technology, and other technology. Demand for sensor technology is anticipated to increase significantly during the forecast period due to rapid industrialization in suburban areas and rise in technological advancements in automated parking management systems in the global market.
Some of the prominent regions taken into consideration for the analysis of the automated parking management systems market are North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. The region-wise analysis is done on the basis of revenue generation trend, city development, and regulation changes. The automated parking industry in North America and Asia Pacific has been observing significant developments in the last few years due to the emerging economic conditions, rise in number of financial districts, increase in smart city development, and rise in urbanization in metropolitan cities.
Key players operating in the automated parking management system market are anticipated to benefit from mergers and acquisitions with global players in the differential market. Key market players have a strong global presence, firm establishments, and a wide product portfolio. The players operating in the automated parking management system market are Skyline Parking AG, CityLift, Robotic Parking Systems, Inc., UNITRONICS, Dayang Parking Co. Ltd., EITO&GLOBAL INC., and others. Companies are focusing on strategic expansions with regional parking system providers in order to expand their business globally. Skyline Parking AG is a major manufacturer and has expertise in the manufacture of fully and semi-automated parking systems. Skyline Parking AG holds a prominent market share in the automated parking management system market.
Automated Parking Management Systems Market - Overview
This report analyzes and forecasts the market for automated parking management systems at the global and regional level. The market has been forecast based on revenue (US$ Mn) and volume (million units) from 2018 to 2026. The study includes drivers and restraints of the global automated parking management system market. It also covers the impact of these drivers and restraints on demand for automated parking management systems during the forecast period. The report also highlights opportunities in the automated parking management system market at the global and regional level.
The report comprises a detailed value chain analysis, which provides a comprehensive view of the global automated parking management system market. The Porter’s Five Forces model for the automated parking management system market has also been included to help understand the competitive landscape in the market. The study encompasses market attractiveness analysis, wherein end-users are benchmarked based on their market size, growth rate, and general attractiveness.
The study provides a decisive view of the global automated parking management system market by segmenting it based on mode of automation, technology, end-user, service and solution, system, and region. These segments have been analyzed based on present and future trends. Regional segmentation includes the current and forecast demand for automated parking management system in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report also covers the demand for individual application segments in all regions.
The study includes profiles of major companies operating in the global automated parking management system market. Key players in the automated parking management system include Skyline Parking AG, CityLift, Robotic Parking Systems, Inc., UNITRONICS, Dayang Parking Co. Ltd, Klaus Multiparking Systems Pvt. Ltd., AUTOMOTION PARKING SYSTEMS, EITO&GLOBAL INC., DONGYANG MENICS, PARKMATIC TM, FATA AUTOMATION, MHE Demag (S) Pte Ltd.. Market players have been profiled in terms of attributes such as company overview, financial overview, business strategies, recent developments, competition matrix, operation footprint, and key executive changes. The automated parking management system market is primarily driven by rise in demand for eco-friendly vehicles.
The report provides the estimated market size of the automated parking management system market for 2017 and forecast for the next nine years. The size of the global automated parking management system market has been provided in terms of revenue. Market numbers have been estimated based on key mode of automation, technology, end-user, service & solution, system, and regional segments of the automated parking management system market. Market size and forecast for each major type have been provided in terms of global and regional/country markets.
In order to compile the research report, we conducted in-depth interviews and discussions with a number of key industry participants and opinion leaders. Primary research represents the bulk of research efforts, supplemented by extensive secondary research. We reviewed key players’ product literature, annual reports, press releases, and relevant documents for competitive analysis and market understanding. Secondary research also includes a search of recent trade, technical writing, internet sources, and statistical data from government websites, trade associations, and agencies. This has proven to be the most reliable, effective, and successful approach for obtaining precise market data, capturing industry participants’ insights, and recognizing business opportunities.
Secondary research sources that are typically referred to include, but are not limited to company websites, annual reports, financial reports, broker reports, investor presentations, and SEC filings, internal and external proprietary databases, and relevant patent and regulatory databases, national government documents, statistical databases, and market reports, news articles, press releases, and webcasts specific to companies operating in the market, national government documents, statistical databases, and market reports, World Bank, Global City Investments, Planning Commission report, Factiva, and National Mineral Development Corporation.
Primary research involves e-mail interactions, telephonic interviews, and face-to-face interviews for each market, category, segment, and sub-segment across geographies. We conduct primary interviews on an ongoing basis with industry participants and commentators in order to validate the data and analysis. Primary interviews provide firsthand information on market size, market trends, growth trends, competitive landscape, and outlook, etc. These help validate and strengthen secondary research findings. They also help develop the analysis team’s expertise and market understanding.
The automated parking management system market has been segmented as follows:
- Global Automated Parking Management System Market, by Mode of Automation
- Semi-automated Parking System
- Fully automated Parking System
- Global Automated Parking Management System Market, by Technology
- Sensor Technology
- Mobile Technology
- RFID Technology
- Other Technology
- Global Automated Parking Management System, by End-user
- Global Automated Parking Management System, by Service & Solution
- Integrated Payments
- Vehicle Detection Solutions
- Space Reservation Services
- Monitoring & Reporting Services
- Global Automated Parking Management System, by System
- Global Automated Parking Management System Market, by Region/Country/Sub-region
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- North America