Automated Parking Systems Market Overview:
The Automated Parking Systems market study gives a complete picture of the competition, including the market share and company profiles of the key competitors in the global industry. The scope of the research includes a thorough investigation of the Automated Parking Systems Market, as well as the reasons for variations in the industry's growth in various locations.
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Global Automated Parking Systems Market size was valued at US$ 1.38 Bn. in 2021 and the total revenue is expected to grow at 15.2% of CAGR through 2022 to 2029, reaching nearly US$ 4.28 Bn.
Market Scope:
Post completion of market engineering, which included calculations for market statistics, market size estimations, market forecasts, market breakdown, and data triangulation, thorough primary research was done to acquire information and verify and validate important numbers. To perform market estimating and forecasting for the overall market segments and sub-segments described in this research, both top-down and bottom-up methodologies, as well as multiple data triangulation methods, were widely employed throughout the whole market engineering process. Extensive qualitative and quantitative analysis is also performed on all of the figures obtained during the whole market engineering process in order to provide essential information throughout the report.
Dynamics:
One of the main contributors to global warming and climate change is the rise in emissions in the automotive sector. Vehicle emissions make up a sizable portion of overall emissions in developed auto markets like China, India, and the US. Several government organisations are starting to take action to lower vehicle emissions. For instance, the G8 countries and the European Union came to an agreement on a plan to reduce CO2 emissions by at least 80% by 2050. China and the US jointly announced their intent to ratify the Paris Climate Agreement. The agreement makes an effort to contain climate change. The industry's focus has consequently shifted to the creation of environmentally friendly solutions.
Segmentation:
Palletized systems dominated the automated parking system market in terms of platform type. These techniques facilitate vehicle movement in the parking space because cars cannot be moved or lifted without the driver. These parking options are anticipated to advance in the future as more people choose to work from home because they enhance vehicle security, enhance urban ambiance, and offer higher parking densities than traditional car parks. The complexity of transportation systems is reduced by these solutions' lack of car size accommodations.
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Key Players:
Major players in the market are identified through secondary research and their market revenues are determined through primary and secondary research. Secondary research included the research of the annual and financial reports of the top manufacturers; whereas, primary research included extensive interviews of key opinion leaders and industry experts such as experienced front-line staff, CEOs, and marketing executives. The percentage splits, market shares, growth rate, and breakdowns of the global markets are determined by using secondary sources and verified through the primary sources. The biggest players in the Automated Parking Systems market are as follows:
• Skyline Parking AG
• Westfalia Parking
• Unitronics (1989) (R”G) Ltd.
• Klaus Multiparking GmbH
• Robotic Parking Systems, Inc.
• City Lift Parking, LLC
• Park Plus Inc.
• Wohr Parking System Pvt. Ltd.
• Parkmatic
• AutoMotion Parking Systems
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Regional Analysis:
Individual market influencing elements and changes in market laws that influence present and future market trends are also included in the geographical overview of the Automated Parking Systems market study. Current and future trends are examined in order to assess the entire market potential and uncover profitable trends in order to get a more stable footing. The geographical market assessment is based on the present environment and expected developments.
COVID-19 Impact Analysis on Automated Parking Systems Market:
Due to a break in operations, end-user sectors where Automated Parking Systems are used had a decline in growth from January to May in various countries, including China, Italy, Germany, the United Kingdom, the United States, Spain, France, and India. This resulted in a large drop in the revenues of firms operating in these industries and, as a consequence, in demand for Automated Parking Systems manufacturers, affecting the development of the Automated Parking Systems market in 2020. End-user business demand for Automated Parking Systems has dropped considerably as a result of lockdowns and a rise in COVID-19 incidents throughout the world.
Key Questions Answered in the Automated Parking Systems Market Report are:
- Which segment had the largest share in the Automated Parking Systems market in 2021?
- What is the competitive landscape of the Automated Parking Systems market?
- Which are the key drivers aiding the Automated Parking Systems market growth?
- Which region has the maximum share in the Automated Parking Systems market?
- What will be the CAGR of the Automated Parking Systems market during the forecast period (2022-2027)?
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