The North America Automated Parking System Market would witness market growth of 17.2% CAGR during the forecast period (2023-2030).
The market is characterized by dynamic trends that shape the trajectory of its evolution. These trends respond to immediate challenges and anticipate future needs, positioning APS as a crucial component of the urban mobility ecosystem. Infusing artificial intelligence (AI) and machine learning (ML) into automated parking systems is a defining trend. AI algorithms enhance the efficiency of parking operations by predicting user behavior, optimizing traffic flow within the facility, and adapting to evolving patterns.
Furthermore, the Internet of Things (IoT) plays a pivotal role in elevating the connectivity and functionality of automated parking systems. IoT-enabled sensors and devices communicate seamlessly, providing real-time data on parking space availability, user preferences, and system health. This connectivity enhances user convenience and facilitates remote monitoring and management of APS facilities. User experience takes center stage in the evolution of automated parking systems.
Moreover, Canadian cities, particularly those in densely populated regions like the Greater Toronto Area (GTA) or Vancouver, face challenges related to limited urban space. Automated parking systems can be particularly attractive in these areas where traditional parking infrastructure may be impractical. As per the data from Statistics Canada, in 2021, nearly three in four Canadians (73.7%) lived in one of Canada's large urban centers, up from 73.2% five years earlier. These large urban centers with 100,000 or more people, referred to as census metropolitan areas (CMAs), accounted for most of Canada's population growth (+5.2%) from 2016 to 2021. Thus, growing urban centers and urban population density in North America will boost the demand for automated parking systems in the region.
The US market dominated the North America Automated Parking System Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $1,399 million by 2030. The Canada market is showcasing a CAGR of 19.8% during (2023 - 2030). Additionally, The Mexico market would register a CAGR of 18.8% 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 U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Automated Parking System Market is Predict to reach $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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