Automated Parking Management Systems Market

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Automated Parking Management Systems Market Share Forecast to Witness Considerable Growth from 2018 To 2026 By Zaraki Kenpachi - July 22, 2021

The global automated parking management systems market is markedly fragmented as each regional market can have different players holding prominent positions, notes Transparency Market Research (TMR). For instance, Skyline Parking and CityLift are expected to emerge as leading players in Europe and Asia Pacific. In North America, the top players are Robotic Parking Systems, Inc. and CityLift who hold a combined share of upward of 32.0% in the regional market. TMR finds that some of the other prominent players operating in the global automated parking management systems market are EITO&GLOBAL INC., Round Automated Parking System, Klaus Multiparking Systems Pvt. Ltd., Dayang Parking Co. Ltd, and Unitronics.

TMR observes that top players are entering into mergers and acquisitions with other prominent players to strengthen their positions in the market. Top players are capitalizing on their robust geographic presence and a wide product portfolio to stay ahead of others. A growing number of players are also leveraging the potential of synergies they have with regionally prominent players, with an aim to consolidate their shares.

Get PDF brochure for Industrial Insights and business Intelligence @ https://www.transparencymarketresearch.com/sample/sample.php? flag=S&rep_id=38411 The global automatic parking management system market is projected to rise at a CAGR of over 13.00% from 2018 to 2026 and touch a valuation of US$4.5 billion by the end of 2026. The various regional markets for automated parking management systems are the Middle East and Africa, North America, Latin America, Europe, and Asia Pacific. Of these, North America held the major share in 2017, visàvis revenue, and is expected to retain its dominance throughout the assessment period. The various technologies deployed in automated parking management systems are sensor technology, mobile technology, and RFID. Among all the types, the demand for sensors is expected to rise at a substantial pace over the forecast period. The rapid strides made by industrialization in suburban areas is a notable factor catalyzing the burgeoning demand for automated parking systems. Rising Need for Optimizing Parking Spaces propels Demand The demand for automated parking management system emanates from the everrising need for more parking space for vehicles given the staggering rise in new registrations all over the world. The demand for technologies and systems for optimizing parking space is a key factor propelling the growth of the global market. The exponential rise in number of vehicles in urbanized spaces of developing and developing nations is a key factor that has squeezed the available parking space. With the pressing need for minimizing the land usage, the problem has been confounded further, thus fueling the demand for automated parking management systems. Numerous benefits of automated parking systems reinforce the attractive demand, key of which are doing away with driving lanes, ramps, optimizing the land usage, ensuring the minimal pedestrian traffic. Furthermore, since the hassles of parking that people face has been a prominent factor contributing to traffic congestions in urban spaces, the need for reducing them has been bolstering the demand for automated parking management systems. Technological Advances in Automated Parking Systems open several Lucrative

Technological Advances in Automated Parking Systems open several Lucrative Avenues The swift pace of urbanization in emerging economies and a large part of population moving to central business districts are notable factors catalyzing the demand for automated parking management systems. The demand is bolstered by the role of automated parking system in simplifying the administrative operations and in improving the surveillance and security of all types of vehicle in the parking arena. Moreover, advancements in anticollision technologies are also boosting the market. The global automated parking management systems is likely to reap potentially lucrative gains from advances made in car parking management and monitoring technologies. This is evident especially in developed nations. The market is garnering gains from the constant advances being made in automated parking systems. Rapid technological advances being made by sensors and neural networks are fueling the expansion of the market. The growing focus of governments, especially in several emerging economies, on smart city infrastructures is a notable factor fortifying the demand for automated parking management systems. The rise in number of financial districts in recent years, notably in Asia Pacific, has accentuated the overall market. The study presented here is based on a report by Transparency Market Research (TMR) titled “Automated Parking Management Systems Market (Mode of Automation – Semi automated Parking System and Fully automated Parking System; Technology – Sensor Technology, Mobile Technology, and RFID Technology; End Use – Residential, Commercial; Service & Solution – Integrated Payments, Vehicle Detection Solutions, Space Reservation Services, and Monitoring & Reporting Services; System – Software and Hardware) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018–2026”. The global automated parking management systems market is segmented based on: Mode of Automation Semiautomated Parking System Fully automated Parking System Technology Sensor Technology Mobile Technology

RFID Technology Others End User Residential Commercial Service & Solution Integrated Payments Vehicle Detection Solutions Space Reservation Services Monitoring & Reporting Services System Software Hardware Purchase our Premium Research Report at: https://www.transparencymarketresearch.com/checkout.php? rep_id=38411&ltype=S About Us Transparency Market Research is a nextgeneration market intelligence provider, offering factbased solutions to business leaders, consultants, and strategy professionals. Our reports are singlepoint solutions for businesses to grow, evolve, and mature. Our realtime data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of factoriented problem solving methodologies and leveraging existing data repositories. TMR believes that unison of solutions for clientsspecific problems with right methodology of research is the key to help enterprises reach right decision.” Contact

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Automated Parking Management Systems Market

Published on Jun 6, 2022Technology & Computing

Abhinav Singh

Due to the lack of employment amid the ongoing COVID-19 outbreak, automotive companies are introducing lucrative car payment options for customers to boost vehicle sales. However, high cost of installation, maintenance, and management of automated parking management systems is affecting its adoption rates. Nevertheless, rapid trend of urbanization and centralization of financial districts in both developed and developing economies such as India is compensating for the system’s high cost management. Moreover, the demand for the sensor technology is anticipated to increase significantly during the forecast period due to rapid industrialization in suburban areas and rise in technological advancements in the automated parking management system market.