Automated Parking Management Systems Market Size, Industry Trends 2034

2 days ago

The global automated parking management systems market is expected to reach USD 6.99 billion by 2030, at a CAGR of 14.50% from 2022 to 2030.

The Global Automated Parking Management Systems Market has witnessed continuous growth in the last few years and is projected to grow even further during the forecast period of 2024-2033. The assessment provides a 360° view and insights - outlining the key outcomes of the Automated Parking Management Systems market, current scenario analysis that highlights slowdown aims to provide unique strategies and solutions following and benchmarking key players strategies. In addition, the study helps with competition insights of emerging players in understanding the companies more precisely to make better informed decisions.

🏢 Market Size & Key Players

Market size:
- Valued at USD 2.34 B in 2024, projected to reach USD 4.96 B by 2029 at a 17.2% CAGR .
- By 2031 the market is expected to expand to approximately USD 10.47 B, growing at a 15.1% CAGR since 2020 .
Major companies:
- IHI Corporation – leading vertically-integrated systems with AI-enhanced smart towers .
- Unitronics Corporation, Lodgie Industries, Robotic Parking Systems, CityLift Parking, Fata Automation, Kyline Parking AG, ParkAssist, Amano McGann, Kapsch TrafficCom, Scheidt & Bachmann, Siemens AG .

📰 Recent Developments

In Jan 2024, IHI expanded its Tokyo smart tower to support over 500 vehicles using AI retrieval .
In Aug 2024, Mumbai airport launched an advanced automatic parking system with sensor-based barriers and accessible ticketing .
In 2023, Tyrolit and other companies saw consolidation in parking-tech across global urban centers .

🚀 Drivers

Rapid urbanization and rising vehicle ownership, especially in dynamic city environments.
Smart city initiatives with parking efficiency and congestion relief as key components .
Demand for space-efficient parking solutions in high-density urban hubs .
Integration of IoT, AI, robotics to drive safety, automation, and user-centered convenience .

⛔ Restraints

High upfront investment and installation costs, particularly in retrofits and large-scale builds .
Integration complexity with existing building infrastructure and data systems .
Reliability and cybersecurity concerns affecting adoption of AI-enabled systems .
Regulatory and zoning limitations in retrofitting or permissioning urban systems .

🌍 Regional Segmentation

Asia-Pacific:
- Dominates in 2023 by revenue; cities in China, Japan, India, S. Korea lead adoption .
- Fastest regional growth projected (~14–17% CAGR) .
North America:
- Mature market with high-percentage adoption (~35% share in 2023) .
- Steady growth at ~11–12% CAGR .
Europe:
- Sophisticated adoption driven by dense urban centers; high CAGR expected .
LATAM and MEA:
- Emerging markets with potential; major uptake in commercial and residential hubs .

🔍 Emerging Trends

Advanced automated towers with AI-enabled retrieval scheduling .
App-based access and reservation systems integrated with IoT .
EV charging integration within parking systems for sustainable mobility support .
BIM compatibility in solution design, improving planning and integration with urban infrastructure .

🔧 Top Use Cases

Residential developments, particularly high-rise apartment blocks.
Commercial buildings, malls, and mixed-use projects seeking optimized parking solutions .
Airports and transport hubs prioritizing efficient space usage and user experience .

⚠️ Major Challenges

Justifying ROI vs. traditional parking systems .
Retrofitting limitations, especially under heritage or infrastructure constraints .
Cybersecurity & data privacy in connected systems .

💡 Attractive Opportunities

EV-integrated parking with charging and energy management for smart mobility .
Software-as-a-Service models for smaller residential/commercial users seeking advanced features .
Smart-city partnerships, aligning with urban innovation goals .
Sustainable design, including solar-powered and low-carbon systems .

📈 Key Expansion Drivers

Accelerating urbanization and rising car ownership in APAC and emerging markets.
Smart city and sustainability mandates driving tech-enabled parking infrastructure.
Advances in AI, IoT, EV integration, boosting system functionality.
Collaboration between developers and operators for tailored solutions.
Regulatory support and zoning innovation, streamlining deployment pathways.

✅ Summary

The Automated Parking Management Systems Market is experiencing strong growth—from about USD 2.3 B in 2024 to nearly USD 5–10 B by 2029–2032, at 15–17% CAGR. Asia-Pacific leads in expansion and adoption, followed by North America and Europe. Growth is driven by urban density, smart city programs, and advanced tech. Challenges include cost, integration complexity, and retrofitting hurdles. Opportunities lie in EV charging integration, SaaS models, and sustainable infrastructure design.