The global automated parking system market size was USD 2.14 billion in 2023, calculated at USD 2.39 billion in 2024 and is expected to reach around USD 7.09 billion by 2034, expanding at a CAGR of 11.5% from 2024 to 2034.
The global automated parking system market size accounted for USD 2.39 billion in 2024 and is expected to reach around USD 7.09 billion by 2034, expanding at a CAGR of 11.5% from 2024 to 2034.
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The Europe automated parking system market size was estimated at USD 750 million in 2023 and is predicted to be worth around USD 2,480 million by 2034, at a CAGR of 11.6% from 2024 to 2034.
Based on region, Europe accounted for more than 35% of the market share in 2023 and is projected to remain its dominance during the forecast period. The presence of the several top market players significantly influences the market growth in this region. The developed infrastructure and higher demand for automation and latest technologies has fostered the growth of the automated parking system market in Europe.
Asia Pacific is estimated to be the most opportunistic market during the forecast period. Asia Pacific is characterized by rapid urbanization, rising government investments in the development of sophisticated infrastructure, rising demand for the cars, and rising penetration of commercial complexes that is expected to boost the growth of the market in the region.
The increasing investments in the development of the infrastructure across the globe is driving the adoption of latest and innovative automated parking systems. The increasing number of commercial and residential buildings owing to the rapid urbanization and rising awareness regarding the automated parking system among the real estate developers is encouraging them to install automated parking systems in their projects. The improving economic conditions of the consumers and demand for better standard of living is encouraging the consumers to own a flat or residential space in high-rise and luxury buildings that has enhanced and parking systems. The automated parking systems helps to save space. The innovations in the parking space and garage designs have facilitated the adoption of automated parking systems. The rising demand for the cars among the population owing to rising disposable income and growing demand for personal commute solutions is boosting the adoption of automated parking systems across the globe.
The limited availability of parking spaces coupled with growing number of vehicles on road is resulting traffic jams across the globe. Moreover, the automated parking systems can help to reduce fuel consumption and pollution, and can save time, as enormous amount of time and fuel is wasted while searching for a suitable parking space. Moreover, rapidly growing urban population is necessitating the adoption of the automated parking systems owing the availability of less spaces especially in the public places.
| Report Highlights | Details |
| Market Size in 2023 | USD 2.14 Billion |
| Market Size in 2024 | USD 2.39 Billion |
| Market Size by 2034 | USD 7.09 Billion |
| Growth Rate from 2024 to 2034 | CAGR of 11.5% |
| Largest Market | Europe |
| Fastest Growing Market | Asia Pacific |
| Base Year | 2023 |
| Forecast Period | 2024 to 2034 |
| Segments Covered | Platform Type, Automation, Component, Structure Type, Region |
| Regions Covered | North America, Asia Pacific, Europe, Latin America, Middle East and Africa |
Based on platform type, the palleted segment accounted for around 61% of the market share in 2023. This platform type offers increased capacity, occupies less building area, offers improved safety, and reduces utility cost. It is suitable to the buildings that have less spaces for parking and hence its adoption is higher due to these features.
On the other hand, the non-palleted segment is expected to be the fastest-growing segment during the forecast period. The non-palleted type uses robots and lifts that increases the efficiency. It requires only one system to handle cars unlike the palleted type that requires two systems. The non-palleted type can reduce the time of movement and helps in time saving.
Based on automation, the fully automated segment dominated the global automated parking system market in 2023, in terms of revenue and is estimated to sustain its dominance during the forecast period. This can be attributed to the benefits such as efficient handling, more safety, higher capacity, and low emission. The demand for these systems is growing in the developing countries owing to the presence of high population and rapid urbanization. However, the cost of this system is high which may potentially act as a restraining factor.
On the other hand, semi-automated segment is expected to grow at a substantial rate owing to its lower cost and easy maintenance. These systems are compatible for the buildings that have a limited number of cars to be parked.
Based on component, the hardware segment accounted for around 74% of the market share in 2023. The hardware includes various components such as microcontrollers, displays, sensors, motors, GSM modules, and various others. This may differ depending on type of parking systems. The wider variety of components results in the generation of higher revenue from this segment.
On the other hand, the software segment is estimated to be the most opportunistic segment during the forecast period. It is the major component that maintains the proper functioning of the hardware components of the automated parking systems. The software is the main organizer of the entire automated parking orchestra. The technological advancements in the software is expected to enhance the functioning and efficiency of the automated parking systems.
Based on structure type, the silo segment accounted for over 20% of the market share in 2023 and is anticipated to remain its dominance during the forecast period. This is attributed to the increased adoption of silo systems in the commercial spaces across the globe. The rising number of commercial spaces such as shopping malls is expected to drive the adoption of this system during the forecast period.
On the other hand, the tower system is estimated to be the most opportunistic segment during the forecast period. This is attributed to its increased efficiency in handling cars and it save horizontal spaces. Further these systems can easily be built in the spaces that has height restrictions.
The market is moderately fragmented with the presence of several local companies. These market players are striving to gain higher market share by adopting strategies, such as investments, partnerships, and acquisitions & mergers. Companies are also spending on the development of improved products. Moreover, they are also focusing on maintaining competitive pricing.
Segments Covered in the Report
By Platform Type
By Automation
By Structure Type
By Component
By Geography
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Automated Parking System Market
5.1. COVID-19 Landscape: Automated Parking System Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Automated Parking System Market, By Platform
8.1. Automated Parking System Market, by Platform Type, 2024-2034
8.1.1. Palleted
8.1.1.1. Market Revenue and Forecast (2021-2034)
8.1.2. Non-Palleted
8.1.2.1. Market Revenue and Forecast (2021-2034)
Chapter 9. Global Automated Parking System Market, By Automation
9.1. Automated Parking System Market, by Automation, 2024-2034
9.1.1. Semi-Automated
9.1.1.1. Market Revenue and Forecast (2021-2034)
9.1.2. Fully Automated
9.1.2.1. Market Revenue and Forecast (2021-2034)
Chapter 10. Global Automated Parking System Market, By Structure Type
10.1. Automated Parking System Market, by Structure Type, 2024-2034
10.1.1. Silo System
10.1.1.1. Market Revenue and Forecast (2021-2034)
10.1.2. AVG System
10.1.2.1. Market Revenue and Forecast (2021-2034)
10.1.3. Puzzle System
10.1.3.1. Market Revenue and Forecast (2021-2034)
10.1.4. Tower System
10.1.4.1. Market Revenue and Forecast (2021-2034)
10.1.5. Shuttle System
10.1.5.1. Market Revenue and Forecast (2021-2034)
10.1.6. Rail Guided Cart System
10.1.6.1. Market Revenue and Forecast (2021-2034)
Chapter 11. Global Automated Parking System Market, By Component Type
11.1. Automated Parking System Market, by Component Type, 2024-2034
11.1.1. Software
11.1.1.1. Market Revenue and Forecast (2021-2034)
11.1.2. Hardware
11.1.2.1. Market Revenue and Forecast (2021-2034)
Chapter 12. Global Automated Parking System Market, Regional Estimates and Trend Forecast
12.1. North America
12.1.1. Market Revenue and Forecast, by Platform (2021-2034)
12.1.2. Market Revenue and Forecast, by Automation (2021-2034)
12.1.3. Market Revenue and Forecast, by Structure Type (2021-2034)
12.1.4. Market Revenue and Forecast, by Component Type (2021-2034)
12.1.5. U.S.
12.1.5.1. Market Revenue and Forecast, by Platform (2021-2034)
12.1.5.2. Market Revenue and Forecast, by Automation (2021-2034)
12.1.5.3. Market Revenue and Forecast, by Structure Type (2021-2034)
12.1.5.4. Market Revenue and Forecast, by Component Type (2021-2034)
12.1.6. Rest of North America
12.1.6.1. Market Revenue and Forecast, by Platform (2021-2034)
12.1.6.2. Market Revenue and Forecast, by Automation (2021-2034)
12.1.6.3. Market Revenue and Forecast, by Structure Type (2021-2034)
12.1.6.4. Market Revenue and Forecast, by Component Type (2021-2034)
12.2. Europe
12.2.1. Market Revenue and Forecast, by Platform (2021-2034)
12.2.2. Market Revenue and Forecast, by Automation (2021-2034)
12.2.3. Market Revenue and Forecast, by Structure Type (2021-2034)
12.2.4. Market Revenue and Forecast, by Component Type (2021-2034)
12.2.5. UK
12.2.5.1. Market Revenue and Forecast, by Platform (2021-2034)
12.2.5.2. Market Revenue and Forecast, by Automation (2021-2034)
12.2.5.3. Market Revenue and Forecast, by Structure Type (2021-2034)
12.2.5.4. Market Revenue and Forecast, by Component Type (2021-2034)
12.2.6. Germany
12.2.6.1. Market Revenue and Forecast, by Platform (2021-2034)
12.2.6.2. Market Revenue and Forecast, by Automation (2021-2034)
12.2.6.3. Market Revenue and Forecast, by Structure Type (2021-2034)
12.2.6.4. Market Revenue and Forecast, by Component Type (2021-2034)
12.2.7. France
12.2.7.1. Market Revenue and Forecast, by Platform (2021-2034)
12.2.7.2. Market Revenue and Forecast, by Automation (2021-2034)
12.2.7.3. Market Revenue and Forecast, by Structure Type (2021-2034)
12.2.7.4. Market Revenue and Forecast, by Component Type (2021-2034)
12.2.8. Rest of Europe
12.2.8.1. Market Revenue and Forecast, by Platform (2021-2034)
12.2.8.2. Market Revenue and Forecast, by Automation (2021-2034)
12.2.8.3. Market Revenue and Forecast, by Structure Type (2021-2034)
12.2.8.4. Market Revenue and Forecast, by Component Type (2021-2034)
12.3. APAC
12.3.1. Market Revenue and Forecast, by Platform (2021-2034)
12.3.2. Market Revenue and Forecast, by Automation (2021-2034)
12.3.3. Market Revenue and Forecast, by Structure Type (2021-2034)
12.3.4. Market Revenue and Forecast, by Component Type (2021-2034)
12.3.5. India
12.3.5.1. Market Revenue and Forecast, by Platform (2021-2034)
12.3.5.2. Market Revenue and Forecast, by Automation (2021-2034)
12.3.5.3. Market Revenue and Forecast, by Structure Type (2021-2034)
12.3.5.4. Market Revenue and Forecast, by Component Type (2021-2034)
12.3.6. China
12.3.6.1. Market Revenue and Forecast, by Platform (2021-2034)
12.3.6.2. Market Revenue and Forecast, by Automation (2021-2034)
12.3.6.3. Market Revenue and Forecast, by Structure Type (2021-2034)
12.3.6.4. Market Revenue and Forecast, by Component Type (2021-2034)
12.3.7. Japan
12.3.7.1. Market Revenue and Forecast, by Platform (2021-2034)
12.3.7.2. Market Revenue and Forecast, by Automation (2021-2034)
12.3.7.3. Market Revenue and Forecast, by Structure Type (2021-2034)
12.3.7.4. Market Revenue and Forecast, by Component Type (2021-2034)
12.3.8. Rest of APAC
12.3.8.1. Market Revenue and Forecast, by Platform (2021-2034)
12.3.8.2. Market Revenue and Forecast, by Automation (2021-2034)
12.3.8.3. Market Revenue and Forecast, by Structure Type (2021-2034)
12.3.8.4. Market Revenue and Forecast, by Component Type (2021-2034)
12.4. MEA
12.4.1. Market Revenue and Forecast, by Platform (2021-2034)
12.4.2. Market Revenue and Forecast, by Automation (2021-2034)
12.4.3. Market Revenue and Forecast, by Structure Type (2021-2034)
12.4.4. Market Revenue and Forecast, by Component Type (2021-2034)
12.4.5. GCC
12.4.5.1. Market Revenue and Forecast, by Platform (2021-2034)
12.4.5.2. Market Revenue and Forecast, by Automation (2021-2034)
12.4.5.3. Market Revenue and Forecast, by Structure Type (2021-2034)
12.4.5.4. Market Revenue and Forecast, by Component Type (2021-2034)
12.4.6. North Africa
12.4.6.1. Market Revenue and Forecast, by Platform (2021-2034)
12.4.6.2. Market Revenue and Forecast, by Automation (2021-2034)
12.4.6.3. Market Revenue and Forecast, by Structure Type (2021-2034)
12.4.6.4. Market Revenue and Forecast, by Component Type (2021-2034)
12.4.7. South Africa
12.4.7.1. Market Revenue and Forecast, by Platform (2021-2034)
12.4.7.2. Market Revenue and Forecast, by Automation (2021-2034)
12.4.7.3. Market Revenue and Forecast, by Structure Type (2021-2034)
12.4.7.4. Market Revenue and Forecast, by Component Type (2021-2034)
12.4.8. Rest of MEA
12.4.8.1. Market Revenue and Forecast, by Platform (2021-2034)
12.4.8.2. Market Revenue and Forecast, by Automation (2021-2034)
12.4.8.3. Market Revenue and Forecast, by Structure Type (2021-2034)
12.4.8.4. Market Revenue and Forecast, by Component Type (2021-2034)
12.5. Latin America
12.5.1. Market Revenue and Forecast, by Platform (2021-2034)
12.5.2. Market Revenue and Forecast, by Automation (2021-2034)
12.5.3. Market Revenue and Forecast, by Structure Type (2021-2034)
12.5.4. Market Revenue and Forecast, by Component Type (2021-2034)
12.5.5. Brazil
12.5.5.1. Market Revenue and Forecast, by Platform (2021-2034)
12.5.5.2. Market Revenue and Forecast, by Automation (2021-2034)
12.5.5.3. Market Revenue and Forecast, by Structure Type (2021-2034)
12.5.5.4. Market Revenue and Forecast, by Component Type (2021-2034)
12.5.6. Rest of LATAM
12.5.6.1. Market Revenue and Forecast, by Platform (2021-2034)
12.5.6.2. Market Revenue and Forecast, by Automation (2021-2034)
12.5.6.3. Market Revenue and Forecast, by Structure Type (2021-2034)
12.5.6.4. Market Revenue and Forecast, by Component Type (2021-2034)
Chapter 13. Company Profiles
13.1. Skyline Parking AG
13.1.1. Company Overview
13.1.2. Product Offerings
13.1.3. Financial Performance
13.1.4. Recent Initiatives
13.2. Westfalia Parking
13.2.1. Company Overview
13.2.2. Product Offerings
13.2.3. Financial Performance
13.2.4. Recent Initiatives
13.3. Robotic Parking Systems, Inc.
13.3.1. Company Overview
13.3.2. Product Offerings
13.3.3. Financial Performance
13.3.4. Recent Initiatives
13.4. Klaus Multiparking GmbH
13.4.1. Company Overview
13.4.2. Product Offerings
13.4.3. Financial Performance
13.4.4. Recent Initiatives
13.5. Wohr Parking System Pvt. Ltd
13.5.1. Company Overview
13.5.2. Product Offerings
13.5.3. Financial Performance
13.5.4. Recent Initiatives
13.6. AutoMotion Parking Systems
13.6.1. Company Overview
13.6.2. Product Offerings
13.6.3. Financial Performance
13.6.4. Recent Initiatives
13.7. Unitronics Ltd.
13.7.1. Company Overview
13.7.2. Product Offerings
13.7.3. Financial Performance
13.7.4. Recent Initiatives
13.8. Parkmatic
13.8.1. Company Overview
13.8.2. Product Offerings
13.8.3. Financial Performance
13.8.4. Recent Initiatives
13.9. Park Plus Inc.
13.9.1. Company Overview
13.9.2. Product Offerings
13.9.3. Financial Performance
13.9.4. Recent Initiatives
13.10. City Lift Parking, LLC.
13.10.1. Company Overview
13.10.2. Product Offerings
13.10.3. Financial Performance
13.10.4. Recent Initiatives
Chapter 14. Research Methodology
14.1. Primary Research
14.2. Secondary Research
14.3. Assumptions
Chapter 15. Appendix
15.1. About Us
15.2. Glossary of Terms
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