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Automated Valet Parking: Introduction

  • The automated valet parking service helps in parking of automated vehicles. The consumer drives to the drop-off position and leaves the vehicle. Once the parking slot is available in the parking space, the consumer receives a message on his/her smartphone and the vehicle automatically drives into the available parking spot.
  • In the parking spot, the vehicle can charge if necessary. The automated valet parking system provides parking space reservations, instructions to automated vehicles about parking space, and drop off location to users upon request via a smartphone. The system comprises a parking management service, the navigation system, and the user management service by integrating data using the Internet of Things (IoT) platform.

Key Drivers of Global Automated Valet Parking Market

  • Rise in demand for vehicles across the globe is estimated to fuel the automated valet parking market. Rise in consumer preference toward comfort and luxury vehicles and rising competition between vehicle manufacturers to provide luxury vehicles is projected to boost the automated valet parking market across the globe. Increase in vehicle density across the globe is leading to a major issue for parking space issue, which in turn causes loss of vehicle owner time. Major vehicle manufacturers are integrating automated parking system in their vehicles in order to avoid parking space issues, which is likely to propel the automated valet parking market across the globe.
  • Rise in adoption of Internet of Things (IoT) across the globe is estimated to further drive the automated valet parking market, as IoT provides parking reservation management and security and surveillance. This, in turn, is likely to propel the automated valet parking market across the globe. Increase in demand for autonomous vehicles across the globe is expected to drive the automated valet parking market.

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Europe and Asia Pacific to hold prominent share of global automated valet parking market

  • Europe is projected to hold a major share of the global automated valet parking market due to an increase in consumer preference toward comfort and luxury vehicles across the region. Europe has presence of major original equipment manufacturers and tier-1 suppliers including Robert Bosch and Continental AG who have advanced research and development facilities regarding the automated parking system. This is anticipated to boost the automated valet parking market across Europe.
  • Followed by Europe, Asia Pacific is projected to account for a major share of the global automated valet parking market due to an increase in sale of vehicles across the region. Rise in demand for autonomous vehicle across China and Japan, which is likely to fuel the automated valet parking market across Asia Pacific. Asia Pacific is home to major vehicle component manufacturers, which in turn is anticipated to boost the automated valet parking market across Asia Pacific.

Key Players Operating in Global Automated Valet Parking Market

The global automated valet parking market is highly concentrated owing to the presence of top manufacturers. A few of the key players operating in the global automated valet parking market are:

  • Robert Bosch GmbH
  • Continental AG
  • Delphi Inc.
  • Valeo SA
  • Aisin Seiki
  • Daimler AG
  • Volkswagen AG
  • Siemens AG
  • XEROX Corporation
  • Cubic Corporation
  • BMW Group

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Global Automated Valet Parking Market: Research Scope

Global Automated Valet Parking Market, by Component

  • Camera
  • Electronic Control Unit
  • Parking Sensor
  • Steering Angle Sensor
  • Display
  • Others

Global Automated Valet Parking Market, by Technology

  • Ultrasonic Sensor
  • Radar Sensor
  • Image Sensor

Global Automated Valet Parking Market, by Solution

  • Security and Surveillance
  • Parking Reservation Management
  • Valet Parking Management
  • License Plate Recognition

Global Automated Valet Parking Market, by Connectivity

  • Bluetooth
  • 4G/5G
  • Wi-Fi
  • Others

Global Automated Valet Parking Market, by Sales Channel

  • OEMs
  • Aftermarket

Global Automated Valet Parking Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Automated Valet Parking Market

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