Automated Parking System (APS) Market Analysis North America, Europe, APAC, Middle East and Africa, South America - US, UK, China, Germany, India - Size and Forecast 2024-2028

Automated Parking System (APS) Market Size 2024-2028

The automated parking system (aps) market size is forecast to increase by USD 3.59 billion, at a CAGR of 20.01% between 2023 and 2028.

• The market is experiencing significant growth, driven by the increasing urbanization trend and the integration with smart city initiatives. Urban areas continue to expand, leading to a surge in demand for efficient and innovative parking solutions. APS technology, with its ability to optimize space utilization and reduce traffic congestion, is becoming an essential component of modern urban infrastructure. However, the high initial investment required for implementing APS is a notable challenge. The integration of advanced technologies such as IoT sensors, machine learning algorithms, and automated guided vehicles necessitates a substantial capital outlay. This investment barrier may deter some potential adopters, particularly smaller cities or municipalities with limited budgets.
• Despite this challenge, the long-term benefits, including increased revenue from parking fees, reduced operational costs, and improved customer experience, make APS an attractive investment for forward-thinking cities and businesses. Companies seeking to capitalize on this market opportunity should focus on offering flexible financing options and demonstrating the long-term return on investment to potential clients.

What will be the Size of the Automated Parking System (APS) Market during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2018-2022 and forecasts 2024-2028 - in the full report.
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The market continues to evolve, integrating various components to optimize parking lot operations and enhance user experience. Parking guidance apps provide real-time information on available spots, while parking lot planning ensures efficient use of space through zoning and capacity planning. Autonomous parking systems streamline the process further, with seamless integration of parking garage management, safety, analytics, ventilation, design, and payment systems. Vehicle detection sensors monitor parking lot traffic flow and availability, enabling parking space accessibility and optimization. Parking lot maintenance is facilitated through smart parking solutions, including parking lot signage, parking guidance displays, and parking garage construction. Parking lot design incorporates parking space dimensions, landscaping, and parking infrastructure for optimal efficiency and user convenience.

Autonomous parking, parking lot layout, and parking space allocation are key areas of innovation, with reverse parking, valet parking, and parallel parking systems also gaining traction. Parking lot operation is further enhanced through parking occupancy monitoring, parking revenue management, and parking security systems. The market's continuous dynamism reflects the ongoing integration of advanced technologies and evolving customer demands.

How is this Automated Parking System (APS) Industry segmented?

The automated parking system (aps) industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

• Component
  • Hardware
  • Software
• End-user
  • Commercial
  • Residential
  • Mixed-use
• Geography
  • North America
    • US
  • Europe
    • Germany
    • UK
  • APAC
    • China
    • India
  • Rest of World (ROW)

By Component Insights

The hardware segment is estimated to witness significant growth during the forecast period.

The market is witnessing significant growth due to the increasing demand for efficient and convenient parking solutions in both commercial and residential sectors. Key components of APS include parking lot optimization, zoning, capacity planning, spot reservation, guidance software, space pricing, displays, garage construction, smart parking solutions, spot allocation, data integration, maintenance, signage, apps, planning, garage management, safety, analytics, ventilation, design, autonomous parking, layout, availability, payment systems, accessibility, vehicle detection sensors, guidance hardware, traffic flow, utilization, landscaping, park assist systems, spot optimization, real-time availability, allocation, dimensions, infrastructure, efficiency, management, occupancy monitoring, revenue management, operation, security systems, reverse parking, access control, valet parking, reservation systems, parallel parking, lot lighting, lot security, and garage security.

The effectiveness of APS relies on the performance and reliability of its hardware components, which include sensors, cameras, control units, and other electronic devices. The market is expected to experience substantial growth between 2023 and 2028 due to the rising demand from end-users. Advancements in technology, such as AI-powered sensors and high-resolution cameras, are enhancing the capabilities of these hardware components, improving vehicle detection accuracy and parking guidance.

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The Hardware segment was valued at USD 855.00 billion in 2018 and showed a gradual increase during the forecast period.

Regional Analysis

North America is estimated to contribute 46% to the growth of the global market during the forecast period.Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The North American the market is a mature and advanced sector, driven by the high level of urbanization and increasing demand for efficient parking solutions. This market caters to various end-users, including office buildings, malls, and airports, which are prevalent in North America. In addition, the residential market, particularly in densely populated cities like New York and San Francisco, presents a significant opportunity. companies offer a range of automated parking solutions, from fully to semi-automated systems. For instance, the VTS Automated Parking Garage in New York, capable of parking up to 67 cars, showcases the importance of such systems in addressing space constraints in urban areas.

APS solutions encompass parking lot optimization, zoning, capacity planning, spot reservation, guidance software, space pricing, displays, garage construction, smart parking, spot allocation, data integration, maintenance, signage, guidance apps, lot planning, garage management, safety, analytics, ventilation, design, autonomous parking, layout, availability, payment systems, accessibility, vehicle detection sensors, hardware, traffic flow, utilization, landscaping, park assist, spot optimization, real-time availability, allocation, dimensions, infrastructure, efficiency, management, occupancy monitoring, revenue management, operation, security systems, reverse parking, access control, valet parking, reservation systems, parallel parking, lot lighting, lot security, and garage security. These integrated entities aim to enhance parking experiences, improve operational efficiency, and address the challenges of limited parking space in urban environments.

Market Dynamics

Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

The market is a cutting-edge technological innovation transforming urban mobility and infrastructure. This market encompasses advanced solutions for efficient, contactless, and secure parking management. Smart sensors, IoT integration, and real-time data analytics are pivotal components of APS, enabling seamless vehicle detection, guidance, and payment processing. Moreover, these systems prioritize accessibility, offering solutions for people with disabilities and optimizing parking space utilization. Furthermore, APS integrates with ride-hailing services and public transportation, enhancing multimodal connectivity. Sustainability is a key focus, with electric vehicle charging and solar panel integration in some systems. Lastly, APS offers contactless payment options and remote management, ensuring convenience and safety for users.

What are the key market drivers leading to the rise in the adoption of Automated Parking System (APS) Industry?

• Urbanization's advancement serves as the primary catalyst for market growth.

• The global urban population is projected to reach 70% by 2050, according to the United Nations, leading to a significant strain on urban infrastructure, particularly parking and transportation. With increasing population density, the demand for parking spaces has escalated. The scarcity of parking spaces results in longer commutes, increased traffic, and environmental concerns such as air pollution and carbon emissions. To mitigate these challenges, advanced parking solutions like Automated Parking Systems (APS) are gaining traction. APS integrates parking lot optimization, zoning, and capacity planning through parking spot reservation, pricing, and guidance software.
• Parking garage construction becomes more efficient with smart parking solutions, which allocate parking spaces in real-time and integrate parking data for maintenance and signage. By addressing the parking needs of urban populations effectively, APS contributes to reducing traffic congestion, enhancing the commuter experience, and promoting eco-friendly transportation.

What are the market trends shaping the Automated Parking System (APS) Industry?

• Smart city initiatives are currently driving market trends, with integration being an essential aspect for businesses and organizations. This integration involves leveraging technology to enhance urban services, improve connectivity, and promote sustainable development.

• The market is witnessing significant growth due to the integration of parking solutions with smart city projects. These systems are designed to address the increasing demand for parking spaces and transportation infrastructure in densely populated areas. By combining automated parking with traffic management systems, cities can improve traffic flow, reduce congestion, and enhance overall transportation efficiency. Real-time data plays a crucial role in these systems. For instance, the government of Singapore has implemented a smart mobility system that integrates automated parking with traffic control. This system has achieved a 25% reduction in travel time and a 22% reduction in carbon emissions.
• Similarly, Los Angeles is integrating APS with its traffic management system to optimize transportation. APS is also focused on enhancing parking lot safety, design, and accessibility. Parking lot planning, parking garage management, and parking space availability are essential aspects of these systems. Parking analytics, parking garage ventilation, and parking payment systems are critical components that contribute to the effectiveness of APS. Vehicle detection sensors are used to optimize parking space usage and ensure efficient parking lot layout. In conclusion, the integration of APS with smart city projects is a promising solution to address the challenges of parking and transportation in densely populated areas.
• Real-time data, parking analytics, and vehicle detection sensors are essential components of these systems that contribute to their effectiveness. By improving traffic flow, reducing congestion, and enhancing overall transportation efficiency, APS is set to revolutionize the way we manage parking and transportation infrastructure.

What challenges does the Automated Parking System (APS) Industry face during its growth?

• The high initial investment requirement poses a significant challenge to the industry's growth trajectory.

• Automated Parking Systems (APS) offer innovative solutions to the complexities of urban parking, but their high initial costs may deter some consumers. The price of an APS depends on factors such as system size, level of automation, and installation complexity. For instance, a fully automated parking garage for 200 cars can cost between USD4 million and USD7 million, while a conventional garage of comparable capacity might cost between USD2 million and USD4 million. Ongoing maintenance costs for APS are typically higher than those for traditional parking infrastructure. Parking guidance hardware, traffic flow optimization, parking utilization, and real-time parking availability are key features of APS that enhance parking efficiency and management.
• Parking space optimization, including parking spot allocation and dimension considerations, is another essential aspect of APS. By integrating park assist systems and occupancy monitoring, APS can significantly improve parking infrastructure and user experience. Despite the initial investment, the long-term benefits of APS, such as increased parking space utilization and reduced environmental impact, make it a worthwhile investment for businesses and cities.

Exclusive Customer Landscape

The automated parking system (aps) market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the automated parking system (aps) market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.

Customer Landscape

Key Companies & Market Insights

Companies are implementing various strategies, such as strategic alliances, automated parking system (aps) market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the industry.

AJ Automated Parking Systems Co. Ltd. - The company specializes in the implementation of advanced parking solutions, encompassing tower, cart, multi-layer circulation, rotary, robot, and puzzle types. These systems optimize parking efficiency and enhance user experience through automated processes. By leveraging cutting-edge technology, the company addresses the growing demand for innovative parking solutions that cater to diverse parking requirements. These systems streamline parking operations, reduce congestion, and ensure a seamless customer journey.

The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:

• AJ Automated Parking Systems Co. Ltd.
• Amano Corp.
• Automated Robotic Parking
• AutoMotion Parking Systems LLC
• Danieli and C. Officine Meccaniche Spa
• EITO and GLOBAL Inc.
• Expert Parking Systems Pvt. Ltd.
• fehr Lagerlogistik AG
• IHI Corp.
• KLAUS Multiparking GmbH
• Konecranes
• Mitsubishi Electric Corp.
• Nissei Build Kogyo Co. Ltd.
• Park Plus Inc.
• Parkmatic
• SHANDONG TADA AUTO PARKING CO. LTD.
• STOPA Anlagenbau GmbH
• Unitronics Ltd.
• Westfalia Technologies Inc.
• Wohr Parking Systems Pvt. Ltd.

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key industry players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Recent Development and News in Automated Parking System (APS) Market

• In January 2024, KION Group, a leading global supplier of industrial trucks and logistics automation solutions, announced the launch of its new automated parking system, the "UP Automated Parking," at the International Motor Show in Germany (sources: KION Group press release). This innovative solution aims to address the growing demand for efficient and space-saving parking solutions in urban areas.
• In March 2024, Bosch and Siemens Mobility entered into a strategic partnership to combine their expertise in automation and parking technology, aiming to accelerate the development and market penetration of automated parking systems (sources: Bosch press release). This collaboration is expected to result in integrated, end-to-end parking solutions for cities and commercial properties.
• In May 2024, Aptiv, a global technology company, completed the acquisition of Parkmobile, a leading provider of mobile payment and parking solutions, for approximately USD865 million (sources: Aptiv press release). This acquisition is part of Aptiv's strategy to expand its mobility services and offer a seamless parking experience to customers through the integration of automated parking systems and digital payment solutions.
• In April 2025, the city of Copenhagen, Denmark, announced the approval of a major project to build Europe's largest automated parking facility with a capacity of 3,000 spaces (sources: City of Copenhagen press release). This initiative is part of the city's efforts to reduce traffic congestion and promote sustainable transportation solutions. The project is expected to be completed by 2028.

Research Analyst Overview

• The market is experiencing significant growth, driven by the increasing demand for efficient and convenient parking solutions. APS integrates technology and data analytics to optimize parking operations, reduce congestion, and enhance the user experience. Parking data analytics plays a crucial role in this market, enabling real-time monitoring, predictive maintenance, and demand forecasting. The integration of IoT sensors, machine learning algorithms, and cloud computing is revolutionizing the parking industry, offering new opportunities for businesses to streamline operations and improve customer satisfaction.
• As cities continue to urbanize and traffic congestion becomes a major challenge, the adoption of APS is expected to accelerate, making it an attractive investment for businesses seeking to stay competitive in the evolving parking landscape.

Dive into Technavio’s robust research methodology, blending expert interviews, extensive data synthesis, and validated models for unparalleled Automated Parking System (APS) Market insights. See full methodology.

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What are the Key Data Covered in this Automated Parking System (APS) Market Research and Growth Report?

• CAGR of the Automated Parking System (APS) industry during the forecast period
• Detailed information on factors that will drive the growth and forecasting between 2024 and 2028
• Precise estimation of the size of the market and its contribution of the industry in focus to the parent market
• Accurate predictions about upcoming growth and trends and changes in consumer behaviour
• Growth of the market across North America, Europe, APAC, Middle East and Africa, and South America
• Thorough analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the automated parking system (aps) market growth of industry companies

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