GVR Report cover Automated Parking System Market Size, Share & Trends Report

Automated Parking System Market Size, Share & Trends Analysis Report By Component (Hardware, Software), By Structure Type, By Platform Type, By Automation Level, By End Use, By Region, And Segment Forecasts, 2023 - 2030

  • Report ID: GVR-4-68039-054-2
  • Number of Pages: 150
  • Format: Electronic (PDF)
  • Historical Range: 2018 - 2021
  • Industry: Technology

Automated Parking System Market Size & Trends

The global automated parking system market size was valued at USD 1.94 billion in 2022 and is expected to grow at a CAGR of 17.7% from 2023 to 2030. The key drivers for the growth are the increasing number of vehicles, scarcity of land for parking, rising urbanization, growing demand for green & sustainable parking solutions, and smart city initiatives by the governments. However, the outbreak of the COVID-19 pandemic significantly affected the sales volume of automated parking systems. Automated parking system solutions are best fitted in the current situation as the influx of technology in vehicles has increased significantly over the last two years. These factors could work well for the market in the post-pandemic era. According to the World Construction Network, the infrastructure industry (commercial and residential) is anticipated to register a significant CAGR of 13.6% over the forecast period. This is also expected to contribute to the growth of the global market in the forthcoming years.

U.S. Automated Parking System Market size and growth rate, 2023 - 2030

The high demand for domestic and commercial vehicles and the limited availability of parking spaces are leading to a rise in traffic jams in several regions globally. According to industrial reports, nearly 35% to 40% of the total congestion in several major cities worldwide results from vehicle owners searching for vacant spaces. The automated parking system is expected to reduce pollution levels. According to INTRIX studies on drivers’ parking behavior in 30 cities in the U.K., the U.S., and Germany in 2021, it is projected that the combined cost in wasted time, fuel, and carbon emissions to the economies of these countries was close to USD 200 billion a year.

The growing population and widespread use of cars throughout the world have generated concerns about parking infrastructure and necessitated the development of the available infrastructure in urban areas. Furthermore, an increase in per capita income, coupled with improved lifestyles, has enhanced the demand for personal mobility, thereby driving automobile sales in metropolitan cities. Due to the increasing scarcity of available free space, there will be a challenge for parking capacity in metro cities, while decreasing the demand will subdue the citizen’s mobility experience.

The number of high-rise constructions has increased significantly in the past few years. Real estate developers are increasingly focusing on offering sustainable homes with reduced emissions, particularly in luxury projects, as these parking systems are most effective in coping with the intensifying problem of insufficient parking spaces. For instance, the Beacon residential facility in London offers sustainable homes with zero-emission, facilitating a fully automated solution with 320 parking spaces. The steady rise in the number of luxury construction projects globally is likely to favor market growth.

With the expansion of automated solutions across various geographies, the initial investment for developing high-caliber parking solutions is significantly high. The requirement for the construction of such systems may limit the growth of the market to a certain extent. Moreover, these are highly complex solutions with quality control issues. Furthermore, the construction and management of these systems are also high and require the consideration of many factors. The absence of regulation for monitoring the working of these systems and quality control issues also pose significant challenges for manufacturers. Nevertheless, enforcing regulations related to quality control to avoid accidents and damages could help overcome these challenges.

Component Insights

The hardware segment accounted for a market share of 83.9% in 2022 and is expected to grow at the fastest CAGR of 17.2%. The hardware components include microcontrollers, GSM modules, RF modules, displays, motor drivers, ultrasonic sensors, DC motors, and camera units, and the structure of the entire system varies across projects in a parking system. Depending on the budget, several solutions such as guidance systems, web-based solutions, sensor-based recognition, license plate recognition solutions, mobile-based parking, and RFID solutions can be integrated into the systems. Hardware systems contribute to the highest share of the total cost of the automated parking system. Hence, the segment is expected to continue its dominance over the forecast period.

The software segment is anticipated to expand at the fastest significant CAGR of 20.2% over the forecast period. The software plays a vital role in the proper functioning of the system. The expansion of this segment is majorly driven by controlling, managing, and orchestrating the moves involved in parking and retrieving vehicles with the help of parking sensors that provide information about vacant and occupied parking areas using analytics solutions. The software also includes inventory accuracies that are not easily achieved through manual systems. Therefore, with advancements and further automation in parking solutions, the software segment is expected to gain significant momentum over the forecast period.

Structure Type Insights

The tower system segment accounted for a revenue share of 27.4% in 2022. Tower system are the most efficient systems as they save significant horizontal space and utilize the advantages of vertical space. These solutions can be built and designed in lower configurations to accommodate different height restrictions. With the increase in advancement and further automation in the parking solution, the segment is expected to gain significant momentum over the years.

The puzzle system segment is estimated to register the fastest CAGR of 18.9% over the forecast period. The growth is attributed to the increase in demand for space-efficient parking solutions, lower cost of installation and maintenance, and Improved safety features. Puzzle parking systems are very space-efficient, which is important in urban areas where space is limited, and are relatively easy to install and maintain, which can save businesses money.

Platform Type Insights

The palleted segment dominated the automated parking system market and accounted for a revenue share of 68.7% in 2022. These solutions simplify the movement of vehicles in the parking space as the vehicles cannot be moved or lifted without the driver. As the number of people preferring work from home option is increasing, these parking solutions are estimated to have an attractive growth in the future as they increase the security of the vehicles, improve cityscape, and higher parking density compared to conventional car parks. No accommodations for car size are required in these solutions, which minimizes the complication of transport mechanisms.

The non-palleted segment is expected to expand at the fastest CAGR of 18.5% over the forecast period. These solutions directly lift, transfer, and park the vehicle in empty spots, eliminate the movement of empty pallets, and enhance the overall system’s efficiency. These solutions automatically adjust themselves according to the size of the vehicle, eliminate the drawbacks of palleted solutions, and also reduce the parking and retrieval time by up to 30%. These factors, along with the growing number of vehicles globally, are expected to boost the growth of the market in the forthcoming years.

End Use Insights

The commercial segment accounted for a revenue share of 45.8% in 2022. This can be attributed to the increasing demand for parking spaces in commercial buildings and shopping complexes. The growing number of vehicles on the road has lowered the availability of spaces, leading to traffic jams and a rise in air pollution across major cities around the world. Owing to the several benefits of automated parking systems in tackling these issues, combined with benefits such as optimal use of space and enhanced security, the demand and adoption for these systems is expected to expand at a promising pace in the commercial space soon.

Global Automated Parking System Market share and size, 2022

The residential segment is estimated to register the fastest CAGR of 18.7% over the forecast period. The growth of the segment can be attributed to the rising number of high-rise residential buildings and the increasing adoption of these solutions in luxury residential facilities across the globe. Moreover, factors, such as rapid urbanization, increased disposable income, and increased purchasing power, have resulted in a significant rise in the sales of vehicles in the past few years. The demand for automated parking systems is also anticipated to increase due to the rising need for vertical parking spaces in constantly shrinking urban residential spaces.

Automation Level Insights

The fully automated segment held the largest revenue share of 68.8% in 2022 and is expected to grow at the fastest CAGR of 18.1%. The advantages offered by fully automated parking systems such as higher efficiency, increased capacity, reduced emission, and enhanced safety & convenience over semi-automated solutions are highly in demand in developing economies. However, the choice between fully automated and semi-automated solutions varies based on factors such as the available budget, location, and application of the project. Often, systems with higher capacity tend to be fully automated, while low-capacity systems remain semi-automated. Considering the COVID-19 pandemic, fully automated parking solutions are completely touchless, and designed to work without human intervention.

The semi-automated segment is anticipated to register considerable growth over the forecast period. Semi-automatic solutions are deployed in various residential, commercial, and mixed-use applications. The installation cost for these solutions is low and they are easy to maintain. The structure is based on lifting and sliding the pallet holding the vehicle for the parking. These systems are generally adopted when a limited number of vehicles are to be parked in a given space. Furthermore, factors such as increasing urbanization and rising disposable income are the key driving factors for the growth of the market.

Regional Insights

Europe held the largest revenue share of 34.2% in 2022. The rise in the initiatives for the development of smart cities and growing demand from commercial and residential buildings will provide beneficial opportunities for the growth of the market in the region. The adoption of automated parking systems is also high in these countries to save space and reduce vehicle emissions while parking the car. The presence of technologically advanced infrastructure has further encouraged the public and private sectors to adopt automated solutions for eliminating parking problems.

Automated Parking System Market Trends, by Region, 2023 - 2030

The Asia Pacific region is expected to grow at the fastest CAGR of 19.3% during the forecast period. This can be attributed to the huge population and prevalence of vehicle parking on the roads. The region is home to 40% of the global population and some of the fastest-growing economies, such as India. Moreover, various smart city projects are unrolled to enhance citizen services. These projects affect challenges associated with transit, infrastructure, connectivity & utilities, and are certain to reinforce the expansion of the market for automated parking systems. Therefore, governments in the region are focusing on urban planning by implementing smart city solutions to derive benefits from the existing infrastructure.

Key Companies & Market Share Insights

The leading players in the market are undertaking strategies such as product developments, mergers and acquisitions, strategic partnerships, and business expansions to maintain their stronghold on the market. For instance, in November 2021, Westfalia Parking hosted a webinar to educate on Automated Parking Demystified. The event described the automated parking system that can operate for the safety and welfare of users, where users can go to the park and pick up their cars in a contactless system in the time of COVID-19, and how an architect or developer can find an automated parking vendor.

Key Automated Parking System Companies:

  • Skyline Parking AG
  • Westfalia Parking
  • Unitronics
  • Klaus Multiparking GmbH
  • Robotic Parking Systems, Inc.
  • City Lift Parking, LLC
  • Park Plus Inc.
  • Wohr Parking System Pvt. Ltd.
  • Parkmatic
  • AutoMotion Parking Systems

Recent Developments

  • In February 2023, BMW and Valeo formed a strategic cooperation to jointly develop the next generation of Level 4 autonomous parking technology. The system ranges from automated deploy assistance to level 4 automated valet parking and is based on sensors and technology in the car. The companies also collaborate on infrastructure-based services to enable entirely automated parking and charging in equipped public parking facilities and venues.

  • In January 2023, Thiruvananthapuram International Airport, India deployed a fully automated parking system. As per the airport authorities, this system represents a significant enhancement in passenger safety, vehicle security, and the overall convenience of the airport experience.

  • In November 2022, Mercedes-Benz, in collaboration with Bosch, obtained approval for a fully automated self-parking software. This software empowers vehicles to autonomously navigate to a predetermined parking space within a parking lot at Stuttgart Airport.

Automated Parking System Market Report Scope

Report Attribute


Market size value in 2023

USD 2.13 billion

Revenue forecast in 2030

USD 6.66 billion

Growth Rate

CAGR of 17.7% from 2023 to 2030

Base year for estimation


Historical data

2018 - 2021

Forecast period

2023 - 2030

Report updated

November 2023

Quantitative units

Revenue in USD million and CAGR from 2023 to 2030

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Component, structure type, platform type, automation level, end use, region

Regional scope

North America; Europe; Asia Pacific; Latin America; and MEA

Country scope

U.S.; Canada; UK; Germany; France; China; Japan; India; Australia; South Korea; Brazil; Mexico; Saudi Arabia; South Africa; UAE

Key companies profiled

Skyline Parking AG; Westfalia Parking; Unitronics; Klaus Multiparking GmbH; Robotic Parking Systems, Inc.; City Lift Parking, LLC; Park Plus Inc.; Wohr Parking System Pvt. Ltd.; Parkmatic; AutoMotion Parking Systems

Customization scope

Free report customization (equivalent up to 8 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope

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Global Automated Parking System Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global automated parking system market based on component, structure type, platform type, automation level, end use, and region:

  • Component Outlook (Revenue, USD Million, 2018 - 2030)

    • Hardware

    • Software

  • Structure Type Outlook (Revenue, USD Million, 2018 - 2030)

    • AGV System

    • Silo System

    • Tower System

    • Rail Guided Cart (RGC) System

    • Puzzle System

    • Shuttle System

  • Platform Type Outlook (Revenue, USD Million, 2018 - 2030)

    • Palleted

    • Non-palleted

  • Automation Level Outlook (Revenue, USD Million, 2018 - 2030)

    • Fully Automated

    • Semi-automated

  • End Use Outlook (Revenue, USD Million, 2018 - 2030)

    • Residential

    • Commercial

    • Mixed-use

  • Regional Outlook (Revenue, USD Million, 2018 - 2030)

    • North America

      • U.S.

      • Canada

    • Europe

      • UK

      • Germany

      • France

    • Asia Pacific

      • China

      • Japan

      • India

      • Australia

      • South Korea

    • Latin America

      • Brazil

      • Mexico

    • Middle East and Africa

      • Saudi Arabia

      • South Africa

      • UAE

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