Automotive Automated Parking System Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Report Covers Global Automotive Automated Parking System Market Companies and it is Segmented by System (Hardware and Software), End-user Type (Residential and Commercial), and Geography (North America, Europe, Asia-Pacific, and Rest of the World). The report offers market size and forecast in volume (units) and value (USD million) for all the above segments.

Automotive Automated Parking System Market Size

Single User License

$4750

Team License

$5250

Corporate License

$8750

Book before:
Automotive Automated Parking System Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 16.96 %
Fastest Growing Market Europe
Largest Market Europe
Market Concentration Low

Major Players

Automotive Automated Parking System Market Major Players

*Disclaimer: Major Players sorted in no particular order

setting-icon

Need a report that reflects how COVID-19 has impacted this market and its growth?

Single User License

$4750

Team License

$5250

Corporate License

$8750

Book before:

Automotive Automated Parking System Market Analysis

The automotive automated parking system market was valued at USD 1,534.38 million in 2021. It is expected to reach USD 3,358.42 million by 2027, at a CAGR of 16.96% during the forecast period (2022-2027).

  • The influx of technology in vehicles has increased significantly over the last two decades, and companies are working on making vehicles and parking spaces more customer-centric.
  • The growing demand for connected cars and autonomous cars has been encouraging vendors to develop advanced parking solutions in the market. Additionally, increasing traffic congestion and inadequate parking space availability in the cities are driving the market's growth.
  • The growing sales of entry- and mid-level autonomous vehicles in developed countries, such as the United States and the Western European countries, and emerging countries, such as China and India, are expected to boost the demand for these automated parking systems in the coming years.
  • Automated parking systems are gaining traction in the market due to recent advancements and technological innovations in the automotive field, like cameras, sensors, wireless communications, data analytics, smart parking meters, and advanced algorithms.

Automotive Automated Parking System Market Trends

This section covers the major market trends shaping the Automotive Automated Parking System Market according to our research experts:

Increasing Demand for Autonomous Vehicles

The automotive manufacturers and governments are focusing on developing and promoting safe driving technologies, especially in passenger vehicles. Furthermore, most of those technologies are expected to become essential. For instance, the Canadian government announced safe testing for every vehicle and the deployment of automated and connected vehicles while creating awareness regarding driver-assistance technologies.

The demand for self-driving cars in North America has increased significantly over the past three years. This demand is fueled by huge investments by tech hubs across the United States and the implementation of self-driving features as standard across luxury vehicle models.

The autonomous car market is not limited to mature markets. Many automakers are launching various new models with entry- and mid-levels of autonomy in the less matured market. For instance, in September 2020, MG introduced its Gloster Luxury SUV in India, with autonomous level-1. The new SUV may come with advanced driver assistance technology and an auto park assist feature. The company claims that the Gloster will be India's first autonomous level-1 premium SUV.

Cameras, RADAR, and other sensors are being deployed in conditionally automated vehicles at a considerable pace, which is expected to drive the market.

Automotive Automated Parking System Market: Autonomous Car Registrations, in Units, Global (2016-2021)

Europe is expected to be the largest market during the forecast period

According to the European Automobile Manufacturers Association, in 2019, there were 277.7 million motor vehicles on the road in the European Union. With the presence of many big players in automated parking systems in the region and people's inclination toward adopting new technologies that are also eco-friendly, Europe is expected to be the largest market for automated parking systems.

The automated parking system is a result of a partnership between different companies. Thus, major players are teaming up with other technology and real estate companies to provide automated parking systems.

The European government regulates the use of its land and other resources and emphasizes better utilization of these resources. For instance, the government of the Netherlands introduced the Spatial planning act, which looks at the land use in the region.

The automated parking system is expected to reduce the pollution levels in the region. It may also reduce the parking space required for a large fleet of vehicles. With the increasing number of vehicles in the world, this solution will be very feasible to tackle most problems simultaneously.

Automotive Automated Parking System Market- Growth Rate by Region, 2022 - 2027

Automotive Automated Parking System Industry Overview

The market for automated parking systems is fragmented, with major players holding a significant share of the market due to their developed products and project networks across different regions. The major players include Westfalia Parking e ShinMaywa Industries, Lodgie Industries, Klaus Multiparking, and Wohr Parking.

The other players, such as Skyline Parking, Unitronics Corporation, Fata Automation, Eito and Global, and Robotic Parking Systems Inc., hold a relatively smaller market share. These companies are in the process of expanding their operations in local and international markets.

Automotive Automated Parking System Market Leaders

  1. Wohr Parking System Pvt. Ltd

  2. Lodige Industries GmbH

  3. Shinmaywa Industries

  4. Westfalia Technologies Inc.

  5. Klaus Multiparking

*Disclaimer: Major Players sorted in no particular order

Automotive Automated Parking System Market Concentration
Need More Details on Market Players and Competitors?
Download PDF

Automotive Automated Parking System Market News

  • In February 2022, Nvidia and Jaguar Land Rover announced a partnership to develop software-defined features to improve automated driving in their vehicle from 2025. The emphasis is on AI-based features, including advanced visualization and driver and occupant monitoring through the Drive IX software.
  • In January 2022, Fauceria announced the acquisition of 79.5% stakes in Hella Electronics to expand their product portfolio in automobile technology, including ADAS convergence, radar, electronic power steering, and automated parking system.

Automotive Automated Parking System Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 System

      1. 5.1.1 Hardware

      2. 5.1.2 Software

    2. 5.2 End User

      1. 5.2.1 Residential

      2. 5.2.2 Commercial

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Rest of North America

      2. 5.3.2 Europe

        1. 5.3.2.1 Germany

        2. 5.3.2.2 United Kingdom

        3. 5.3.2.3 France

        4. 5.3.2.4 Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. 5.3.3.1 India

        2. 5.3.3.2 China

        3. 5.3.3.3 Japan

        4. 5.3.3.4 South Korea

        5. 5.3.3.5 Rest of Asia-Pacific

      4. 5.3.4 Rest of the World

        1. 5.3.4.1 South America

        2. 5.3.4.2 Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Vendor Market Share

    2. 6.2 Company Profiles

      1. 6.2.1 Skyline Parking

      2. 6.2.2 Unitronics Corporation

      3. 6.2.3 Wohr Parking

      4. 6.2.4 Citylift

      5. 6.2.5 Dayang Parking Company Ltd

      6. 6.2.6 Lodgie Industries

      7. 6.2.7 ShinMaywa Industries

      8. 6.2.8 Eito and Global

      9. 6.2.9 Fata Automation

      10. 6.2.10 Westfalia Parking

      11. 6.2.11 ParkPlus Inc.

      12. 6.2.12 Klaus Multiparking

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

You Can Purchase Parts Of This Report. Check Out Prices For Specific Sections
Get Price Break-up Now

Automotive Automated Parking System Industry Segmentation

The scope of the automotive automated parking system market covers the latest trends and technological development. The market is segmented by system (hardware and software), end-user type (residential and commercial), and geography(North America, Europe, Asia-Pacific, and Rest of the World).

System
Hardware
Software
End User
Residential
Commercial
Geography
North America
United States
Canada
Rest of North America
Europe
Germany
United Kingdom
France
Rest of Europe
Asia-Pacific
India
China
Japan
South Korea
Rest of Asia-Pacific
Rest of the World
South America
Middle-East and Africa
Need A Different Region Or Segment?
Customize Now

Automotive Automated Parking System Market Research FAQs

The Automotive Automated Parking System Market is projected to register a CAGR of 16.96% during the forecast period (2024-2029)

Wohr Parking System Pvt. Ltd, Lodige Industries GmbH, Shinmaywa Industries, Westfalia Technologies Inc. and Klaus Multiparking are the major companies operating in the Automotive Automated Parking System Market.

Europe is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the Europe accounts for the largest market share in Automotive Automated Parking System Market.

The report covers the Automotive Automated Parking System Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Automotive Automated Parking System Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Automotive Automated Parking System Industry Report

Statistics for the 2024 Automotive Automated Parking System market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Automotive Automated Parking System analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

80% of our clients seek made-to-order reports. How do you want us to tailor yours?

Please enter a valid email id!

Please enter a valid message!

Automotive Automated Parking System Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)