Global Automated Parking Systems Market: is expected to reach US$ 4.56 Bn by 2029, at a CAGR of 10.34% during the forecast period.
Global Automated Parking Systems Market Overview: The Global Automated Parking Systems Market research provides a full competition picture, including market share and company profiles of the major players in the worldwide industry. The scope of the research covers a complete examination of the Global Automated Parking Systems Market, as well as the causes for variances in the industry’s growth in different areas.
Market Scope: To locate and collect material appropriate for this study, this research study makes considerable use of secondary sources, directories, and databases such as annual reports, press releases, journals, corporate websites, and databases.
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Global Automated Parking Systems Market Dynamic:
The increasing population is putting huge pressure on parking infrastructure & requiring the expansion of the accessible infrastructure in urban areas. Moreover, a rise in per capita income, together with enhanced lifestyles, has improved the demand for personal mobility, thereby motivating automobile sales in urban cities. Due to this, the vehicle fleet on the roads is exceeding the available parking spaces in metropolises. These influences are mutually motivating the adoption of automated solutions which can improve the usage of parking spaces. Improved efficiency, improved capacity, better ROI, reduced CO2 emissions produced during driving around on the lookout for empty spots, & enhanced safety & security are other aids pouring the adoption of these systems globally.
Global Automated Parking Systems Market Segmentation:
Despite the rising demand for automated solutions through many geographies, the initial investment for the expansion of high-caliber parking solutions is significantly high. This high capital condition for the construction of such systems may hinder the development of the market to a certain extent. Moreover, these are extremely complex solutions with quality control matters. The assembly of an automated parking system is also a very difficult task & needs the consideration of numerous factors. The absence of rule for monitoring the working of these systems & quality control problems also pose important challenges for manufacturers. But, enforcing rules related to quality control to avoid accidents & damages could help overcome these tasks.
Global Automated Parking Systems Market Key Players:
• Skyline Parking AG
• Westfalia Parking
• Unitronics Ltd.
• Klaus Multiparking GmbH
• Robotic Parking Systems, Inc.
• City Lift Parking, LLC
• Park Plus Inc.
• Wohr Parking System Pvt. Ltd.
• Parkmatic
• AutoMotion Parking Systems
• Fata Automation
• Eito&Global Inc
The entire approach involves a review of the financial reports of the major market participants. Following the determination of the overall market size, the complete market was divided into many segments and sub-segments and checked with key industry professionals such as CEOs, VPs, directors, and marketing executives. The major players in the Global Automated Parking Systems market are
Regional Analysis: The region portion of the Global Automated Parking Systems market study also includes individual market affecting elements and changes in legislation in the market that affect present and future market trends. Current and future trends are discussed in order to estimate the entire market potential and to highlight profitable trends in order to obtain a firmer footing. Geographic market assessment is based on the existing scenario and predicted developments.
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COVID-19 Impact Analysis on Global Automated Parking Systems Market:
Following the outbreak of the pandemic, end-user sectors where Global Automated Parking Systems are used had a fall in growth from January to May in a variety of countries, including China, Italy, Germany, the United Kingdom, the United States, Spain, France, and India, due to a suspension in operations. This resulted in a major decrease in the revenues of firms operating in these industries and, as a consequence, in demand for Global Automated Parking Systems manufacturers, influencing the growth of the Global Automated Parking Systems market in 2020. With lockdowns and a rising number of COVID-19 cases throughout the world, the demand for Global Automated Parking Systems from end-user businesses has decreased significantly.
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Key Questions answered in the Global Automated Parking Systems Market Report are:
- Which are the major companies in the Global Automated Parking Systems market?
- Which is the potential market for Global Automated Parking Systems in terms of the region?
- What are the opportunities for new market entrants?
- What is expected to drive the growth of the market in the next seven years?
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