Automated Parking Management Systems Market Anticipated to Surpass Valuation of US$ 4.5 Bn Through 2026

Published on : Jul 05, 2018

Albany, New York, July 5, 2018: According to the findings of the latest study, the global automated parking management system market is anticipated to expand at a CAGR of more than 13.00% between 2018 and 2026. The beneficial applications of automated parking systems are likely to boost their demand, especially in suburban areas and financial districts. To elaborate further, Market Research Hub (MRH) has broadcasted this study to its vast archive, which is titled as “Automated Parking Management Systems Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2026”. The study offers analysis of the global automated parking management systems industry provides valuable insights into its current performance trends and how it will fare in the future.

This 611-page comprehensive report contains an executive summary that shares key information about the global automated parking system market including market size, market value in USD and market value share. The market overview section of the report showcases the market dynamics and trends such as the drivers, restraints, and opportunities that affect the current nature and future status of this market. According to the study, traffic and congestion are rising globally due to a rise in new registrations of vehicles. This is boosting demand for effective and flexible vehicle parking solutions. Further, this is driving the necessity of automated parking management systems.

Key Highlights from the Report

Automated car parking management system is basically an architecture, designed in such a way so as to manage many car-park areas in which each car-park area is equipped with an automatic feature. They also reduce the time required for people to look for parking space in the parking lot. It has been analyzed that it reduces 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.

In order to explain the intensity of competition in the market, the report has been segmented geographically into major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Besides, the study has been broadly analyzed on the basis of mode of automation, technology, end-user, service and solution, and system. For each segment, the research has presented current as well as future trends. By mode of automation, the study covers semi-automated and fully automated. The technology used in the automated parking solution include sensor technology, mobile technology, RFID technology and other. Residential and commercial are the major end-user of this solution.

In terms of technology, the sensor segment holds a prominent share of the global automated parking management system market. Geographically, North America has dominated the global market, and the trend is expected to continue during the forecast period as well.

Additionally, the vendor landscape section is also provided which throws light on the chief players dominant in this market. They include Dongyang Menics, UNITRONICS, Skyline Parking AG, Fata Automation, Automotion Parking Systems, CityLift, Robotic Parking Systems, Inc., Dayang Parking Co. Ltd, Klaus Multiparking Systems Pvt. Ltd., Eito&Global Inc., Parkmatic Tm, MHE Demag (S) Pte Ltd.

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