The global automated parking management systems market is expected to reach the market value of around US$ 3400 Mn by 2026 and is anticipated to grow at a CAGR of around 14% in terms of revenue during the forecasting period 2019 – 2026.

A market for automated parking systems for parking and vehicle recovery is a technology designed to meet the growing demand for safe and convenient parking due to increases in the number of vehicles.

The report provides analysis of global Automated Parking Management Systems market for the period 2015-2026, wherein 2019 to 2026 is the forecast period and 2018 is considered as the base year.

Market Insights

A technological development to improve parking management systems is key driver of the market. This has resulted in an increase in demand for automated parking management systems that can help city governments manage dispersed squares efficiently and help drivers find parking spaces. Included in this is also the ability to provide automated parking management systems with the requisite versatility and scalability.

Moreover, due to the ability to enable the collection of real-time data and to assess the availability of parking lots, automated parking management systems powered by advanced technology can be very useful, thereby benefiting users in terms of time and fuel costs.

The cost of installation is a key constraint on the automated parking management systems market. The system's installation price increases dramatically as the system is made up of large mechanical and electronic components. The malfunctioning of electronic components is another key market restriction. The modules require a great deal of maintenance, which increases the system cost. Due to the increase in the number of vehicles, an increase in demand for parking spaces has created significant opportunities for the automated parking management systems industry.

Regional Stance

Europe held significant share in the global market and anticipated to continue its dominance amid the projected time span. It is also anticipated that the European regional market will offer significant growth prospects for the sector, in particular due to the European Union's favorable government initiatives in encouraging the implementation of automated parking management systems as part of efforts to reduce pollution and ensure a safe climate.

North America held the second largest share in the global market and anticipated to continue its growth amid the forecast timeframe. The automated parking management systems market dominated the North American area. Demand for parking management systems is expected to increase in North America as U.S. and Canadian civil authorities are actively attempting to reduce traffic congestion, which has become increasingly severe due to the increasing number of vehicles.

Asia Pacific and Latin America regional markets are also expected to be gaining traction due to the growing number of communities in emerging economies. The growth rate in China, India, Brazil, and South Korea is projected to be comparatively higher.

Report coverage

The market research study on “Automated Parking Management Systems Market (By Mode of Automation: Semi Automation, Full Automation; By Technology: Sensor, Mobile, RFID; By Application: Commercial, Government, Transport Transit) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026” offers a detailed insights on the global automated parking management systems market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report also provides competitive landscape to understand the current stance of particular player. The report provides insights on global automated parking management systems market, its usage mode of automation, technology, application, and major geographic regions. The report covers global automated parking management systems market size, and segment markets by usage, by mode of automation, technology, application, and geography along with the information on companies operating in the market. The automated parking management systems market analysis is provided for major regional markets including North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. For each region, the market size for different segments has been covered under the scope of report.  

The global automated parking management systems market is segmented as below:

Market Segmentation

Automated Parking Management Systems Market By Mode of Automation

Semi Automation

Full Automation

Automated Parking Management Systems Market By Technology

Sensor

Mobile

RFID

Automated Parking Management Systems Market By Application

Commercial

Government

Transport Transit

Automated Parking Management Systems Market By Geography

North America

• U.S.
• Canada

Europe

• UK
• Germany
• France
• Spain
• Rest of Europe

Asia-Pacific

• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia-Pacific

Latin America

• Mexico
• Brazil
• Rest of Latin America

Middle East & Africa

• GCC
• South Africa
• Rest of MEA

Key Players and Market Situation

The number of players in the automated parking management systems market around the world is increasing steadily. Participants include major global players such as Cisco Systems, Inc., Robert Bosch GmbH, Conduent, Inc., Streetline, Inc., Amano McGann, Inc., Altiux Innovations, and Others.

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