Automated Parking Management Systems Market
Automated Parking Management Systems Market is projected to expand at a CAGR of more than 14.00% between 2018 and 2026. An automated parking management systems market is a technique for mechanically parking and retrieving vehicles in order to accommodate the increase in demand for safe and convenient parking, as the number of vehicles increases every day. In an automated parking management systems market, the driver parks the vehicle at the entrance of the parking area, and from there, the vehicle is automatically moved through the garage and parked in an available parking space.
Automated parking management systems market reduces the width and depth required for parking space, and distances between parking spaces, since no allowance need to be made for driving the car into the parking space or for the opening of car doors. Also, no driving lanes or ramps are required to drive the car toward the parking area. A key restraint of the automated parking management systems market is the cost of installation. The installation price of the system extremely increases, as the system consists of large mechanical as well as electronic components. Another key restraint of the market is the malfunctioning of electronic components. The components require numerous maintenance, which increases the cost of the system. Increase in demand for parking spaces, due to the increase in number of vehicles, has created significant opportunities for the Automated Parking Management Systems Market.Automated Parking Management Systems Market Automated parking management systems market is segmented into mode of automation, system, service & solution, technology, end use, and region. Based on mode of automation, the semi-automated parking system segment is projected to hold a leading share of the market in 2017. Semi-automated is an old tried and proved technology with low manufacturing cost that is widely used in passenger vehicles. While in case of a fully automated parking system, the driver drives the car up to the entry of the system where driver and all the passengers exit the car. Finally, the system automatically parks the car in an available car parking space. Based on technology, demand for sensor technology is anticipated to rise significantly during the forecast period due to rapid industrialization in rural areas and increase in technological advancements in automated parking management systems in the global market.
Based on end use, the commercial users include shopping malls, and other similar places. The need for augmenting vehicle traffic and automating the parking management process in commercial segment is emerging in recent years. These club are using smart parking solutions to reduce congestion and parking time. On the basis of service & solution, the monitoring & reporting services and vehicle detection solutions are expected to be in demand due to the need for replacing time-consuming manual procedures with more automated solutions.
In terms of region, North America and Europe are technologically more developed for automated parking management systems market. The North America region is widely adopting digital technologies due to the focus on implementing smart cities and higher adoption rate for smart parking management system.
Some of the key players in the automated parking management systems market are Skyline Parking AG, CityLift Parking, Robotic Parking Systems Inc., Unitronics, Dayang Parking Co. Ltd, Klaus Multiparking Systems Pvt. Ltd., Automotion Parking Systems, Eito & Global Inc., Dongyang Menics, and Parkmatic TM. The Scope of the Automated Parking Management Systems Market
Automated Parking Management Systems Market by Mode of Automation
• Semi-automated Parking System • Fully automated Parking System Automated Parking Management Systems Market System by Technology
• Sensor Technology • Mobile Technology • RFID Technology Automated Parking Management Systems Market by Service & Solution
• Integrated Payments • Vehicle Detection Solutions • Space Reservation Services • Monitoring & Reporting Services Automated Parking Management Systems Market by System
• Software • Hardware Automated Parking Management Systems Market by End-use
• Residential • Commercial Automated Parking Management Systems Market by Region
• North America • Europe • Asia-pacific • Middle East & Africa • Latin America Key Players operating in the Automated Parking Management Systems Market
• Skyline Parking AG • CityLift Parking • Robotic Parking Systems Inc. • UNITRONICS • Dayang Parking Co. Ltd • Klaus Multiparking Systems Pvt. Ltd. • AUTOMOTION Parking Systems • EITO & Global Inc. • DONGYANG MENICS • PARKMATIC TM • FATA AUTOMATION, • MHE DEMAG (S) Pte Ltd. • 5BY2 • IHI • Katopark • Nissei Build Industries • Parkmatic • PARKPLUS • Qingdao Bortome • Simmatec • Sotefin • Tada • Westfalia Parking Solutions • WÖHR Maximize Market Research, a global market research firm with dedicated team of specialists and data has carried out extensive research about the current vehicle tracking market outlook. Report encompasses the vehicle tracking market by different segments and region, providing the in-depth analysis of overall industry ecosystem, useful for taking informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the vehicle tracking market. The driving forces, as well as considerable restraints, have been explained in depth. In addition to this, competitive landscape describing about the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain vehicle tracking market positioning of competitors.
About the Author
Maximize Market Research, a global market research firm with dedicated team of specialists and data has carried out extensive research about the current vehicle tracking market outlook. Report encompasses the vehicle tracking market by different segments and region, providing the in-depth analysis of overall industry ecosystem, useful for taking informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the vehicle tracking market. The driving forces, as well as considerable restraints, have been explained in depth. In addition to this, competitive landscape describing about the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain vehicle tracking market positioning of competitors.
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