The Europe Automated Parking System Market would witness market growth of 16.7% CAGR during the forecast period (2023-2030).
The imperative for sustainable urban development has prompted a reevaluation of transportation and parking infrastructure. With its ability to reduce the need for extensive excavation and construction, APS aligns with sustainability goals. The minimized environmental impact, coupled with the potential integration of electric vehicle charging infrastructure, positions automated parking systems as key contributors to the evolution of sustainable urban mobility. Moreover, the era of smart cities is characterized by the integrating advanced technologies to enhance urban living.
Moreover, automated parking systems find application across diverse sectors, ranging from commercial and residential developments to mixed-use complexes and public infrastructure. The versatility of APS lies in its adaptability to various contexts, providing a scalable solution that caters to the unique parking needs of different environments. Likewise, in residential architecture, automated parking systems redefine the concept of parking convenience. For high-density residential complexes, APS offers residents a hassle-free parking experience.
Moreover, like many other developed countries, the UK is characterized by urbanization and population density. Major cities like London experience high traffic congestion, especially in central areas. Automated parking systems can address the parking challenges associated with dense urban environments. As per the data from the Government of the United Kingdom, motor vehicle traffic on Great Britain roads increased by 8.8% between 2021 and 2022, to 323.8 billion vehicle miles. Car traffic increased by 10.2% from 2021 to 244.0 billion vehicle miles. Therefore, the growing number of vehicles and vehicle traffic in Europe will contribute to the rising demand for automated parking systems in the region.
The Germany market dominated the Europe Automated Parking System Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $449.9 million by 2030. The UK market is exhibiting a CAGR of 15.7% during (2023 - 2030). Additionally, The France market would experience a CAGR of 17.6% during (2023 - 2030).
Based on Component, the market is segmented into Hardware and Software. Based on Platform Type, the market is segmented into Palleted and Non-Palleted. Based on Automation Level, the market is segmented into Fully Automated and Semi-Automated. Based on End Use, the market is segmented into Commercial, Residential and Mixed-Use. Based on Structure Type, the market is segmented into Tower System, Puzzle System, Silo System, AGV System, Shuttle System, and Rail Guided Cart (RGC) System. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Automated Parking System Market will Hit $6.4 Billion by 2030, at a CAGR of 17.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Skyline Parking, Westfalia Technologies, Inc., Unitronics (1989) (R”G) Ltd, KLAUS Multiparking GmbH, Robotic Parking Systems Inc., Park Plus, Inc., WOHR Autoparksysteme GmbH, Parkmatic, and EITO&GLOBAL INC.By Component
By Platform Type
By Automation Level
By End Use
By Structure Type
By Country
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