Owing to the increasing number of vehicles, scarcity of land for parking, rising urbanization, growing demand for green & sustainable parking solutions, increasing demand for luxury buildings, and smart cities initiatives from the government. The fully automated parking system is estimated to account for the largest market share. The high demand for comfort and convenience from consumers, increasing number of luxury projects, and rising adoption of a fully automated parking system by construction companies is driving the fully market. The fully automated parking system has increased capacity, high efficiency, reduced emission, and increased safety and convenience.
Non-palleted segment is projected to grow the fastest in automated parking system. Non-palleted automated parking system uses lifts, transfer vehicles, and robots to park and retrieve the car in the parking garage. Unlike a palleted system that generally requires two systems to handle the pallet and cars, a non-palleted system requires only one system to handle the car.
The hardware segment is estimated to be the largest in automated parkin system market. There are several types of the automated parking system, such as tower, puzzle, RGC, Silo, and AGV. Along with the structure of the automated parking system, the key hardware includes a microcontroller, RF module, display, GSM module, motor driver, DC motor, ultrasonic sensors, and camera units. Depending on the budget, various solutions such as web-based parking solutions, parking guidance system, mobile-based parking, license plate recognition systems, sensor-based parking recognition, and RFID system can be integrated into the systems.
Europe is estimated to be the largest in the automated parking system market. The region has a state of art technology background and has a presence of leading players of the automated parking solutions. The adoption of an automated parking system is high in the UK, Germany, Denmark, Norway, Switzerland, Spain, and the Netherlands.
Key market players include Wohr (Germany), Klaus Multi Parking (Germany), CityLift (the US), Westfalia (Germany), Robotic Parking Systems Inc. (the US), and Unitronics (Israel).
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