Automated Parking System Market Segmentation:
Automation Segment Analysis
The fully automated segment in the automated parking system market is expected to attain the highest CAGR. Fully automated parking systems are in increasing demand in developing economies owing to their advantages over semi-automated alternatives. Some of the benefits include higher efficiency, increased capacity, lower emissions, and improved safety & and convenience. Also, smart cities are incorporating such as the Internet of Things, 5G, and data analysis. For instance, the robotic parking system at Al Jahara is the Guinness World Record holder for “Largest Automated Parking Facility” with almost 2,314 parking spaces.
End User Segment Analysis
The automated parking system market from the commercial segment is predicted to grow at a significant CAGR. The growth of this segment is accounted for by an increase in demand for parking management in shopping malls, stadiums, and commercial buildings, among others. Moreover, an increase in the development of buildings & luxury projects is expected to create incremental growth opportunities for the market in the coming years.
Our in-depth analysis of the global automated parking system market includes the following segments
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Automation |
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End user |
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