PUBLISHER: Allied Market Research | PRODUCT CODE: 1179545
PUBLISHER: Allied Market Research | PRODUCT CODE: 1179545
Automated parking management systems comprise hardware and software components that assist in effective management of vehicle parking. It utilizes a mechanical system to transport vehicles to and from parking spaces in a multi-story parking area. The vehicles are stored in multiple parking lots, stacked vertically in a multi-story parking building or area. In addition, automated parking management systems can be either fully automated or semi-automated. Fully automated parking systems operate like robot valet parking, which in turn eliminate the need for parking attendants. Semi-automated parking systems require few actions by the attendant or the driver. Moreover, automated parking management systems has several advantages such as enhanced parking, reduced congestion, reduced pollution, enhanced user experience, reduced operational & management costs, and improved safety.
Numerous companies operating in the automated parking management systems industry are introducing pallet-based automated robot parking system with electric vehicle charging capabilities to enhance smarter mobility, which supplements the market growth. For instance, in May 2021, Hong Kong Science and Technology Parks Corporation (HKSTP) introduced the Hong Kong's first automated robotic parking systems with electric vehicle (EV) charging at Hong Kong Science Park. The new facility enables drivers to park their cars onto the pallet inside designated chamber and then confirm at the kiosk to initiate the parking process. The new facility delivers significant space savings by enabling optimal parking in multiple rows and columns, supported by automatic guided vehicles (AGV), which access the parking pallet from multiple angles using omnidirectional movements.
The growth of the global automated parking management systems market is propelling, due to rise in the number of vehicles globally, increase in demand for green parking solutions, and rise in urbanization. However, high initial investment is the factor hampering the growth of the market. Furthermore, initiative for smart cities is the factor expected to offer growth opportunities during the forecast period.
The automated parking management systems market is segmented on the basis of component, platform type, automation level, end-use, and region. By component, the market is segmented into hardware and software. By platform type, the market is fragmented into palleted and non-palleted. By automation level, the market is classified into fully automated and semi-automated. By end-use, the market is categorized into residential, commercial, and mixed-use. By region, the report is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Benefits For Stakeholders
By Component
By Platform Type
By Automation Level
By End-use
By Region