Global Automated Parking Systems Market 2017-2021
About Automated Parking Systems
The global parking systems market comprises robotic (AGV-based system), semi-automated, as well as fully-automated parking systems that are used in residential, commercial, and other end-user segments. Vendors in this market are introducing new products that are cost-efficient for larger systems. While the market is dominated by automated and semi-automated parking systems that use mechanical systems to move cars into parking spaces, there has been an upsurge in the adoption rate of robotic parking systems based on automated guided vehicles (AGVs) in the last five years.
Technavio’s analysts forecast the global automated parking systems market to grow at a CAGR of 11.42% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global automated parking systems market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Automated Parking Systems Market 2017-2021
Technavio recognizes the following companies as the key players in the global automated parking systems market: CityLift Parking, KLAUS Multiparking, Robotic Parking Systems, Skyline Parking, and Unitronics.
Other Prominent Vendors in the market are: 5BY2, Automotion Parking Systems, Dayang Parking, Dongyang Menics, EITO&GLOBAL, FATA Automation, IHI, Katopark, Nissei Build Industries, Parkmatic, PARKPLUS, Qingdao Bortome, Simmatec, Sotefin, Tada, The Automated Parking Solution, Westfalia Parking Solutions, and WÖHR.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is trends in smart parking. The future of the parking industry will primarily be driven by the adoption of smart parking solutions. The deployment of advanced sensor technologies, and innovations in wireless communications, data analytics, induction loops, and smart parking meters will be major developments contributing to the growth of the market.”
According to the report, one driver in the market is increase in automobile sales. Passenger car sales have been increasing at a tremendous rate over the years, owing to the high disposable incomes and the rising consumer aspirations. This has, in turn, led to an increase in demand for infrastructure to park these vehicles. It has been noted that a large proportion of passenger vehicle accidents involving property damage have occurred in parking spaces that require multiple maneuvering actions. While on-street and off-street parking have been widely adopted across the globe, there is a considerable demand for parking spaces that use less land area, while ensuring that space is optimized.
Further, the report states that one challenge in the market is regulatory requirements for operations of automated parking systems. Manufacturers in the market are subject to various regulations depending on the country where the products are manufactured and sold for commercial purposes. They are required to gain the necessary approvals and clearances before implementing automated parking systems. For instance, in Europe, automated parking systems are governed by the machinery directive 2006/42/EC, and their basic technical requirements are specified in the European standard EN 14010. Vendors are expected to comply with these regulations to ensure that the parking systems are optimized.
CityLift Parking, KLAUS Multiparking, Robotic Parking Systems, Skyline Parking, Unitronics, 5BY2, Automotion Parking Systems, Dayang Parking, Dongyang Menics, EITO&GLOBAL, FATA Automation, IHI, Katopark, Nissei Build Industries, Parkmatic, PARKPLUS, Qingdao Bortome, Simmatec, Sotefin, Tada, The Automated Parking Solution, Westfalia Parking Solutions, and WÖHR.