Global Automated Parking System Market Poised to Hit $3.54 Billion by 2028 – PR Newswire

DUBLIN, Aug. 8, 2022 /PRNewswire/ --The 'Automated Parking System Market Forecast to 2028 - COVID-19 Impact and Global Analysis'report has been added to ResearchAndMarkets.com's offering.

The global automated parking system market is expected to grow from US$ 1,411.59 million in 2021 to US$ 3,543.77 million by 2028; it is estimated to grow at a CAGR of 14.1% from 2021 to 2028.

The need for automated parking systems has increased significantly in the past a few years owing to the increasing number of vehicles and consequently growing demand for sustainable parking solutions. According to the World Economic Forum, the number of cars in the world is estimated reach 2 billion mark by 2040.

Industry experts anticipate most of this growth to happen in emerging markets such as China and India, owing to the rapid increase in population. With the surge in number of vehicles, people are facing issues such as traffic congestion and parking space insufficiency. Fully automated parking systems are capable of parking and retrieving a car automatically. In July 2021, Westfalia Technologies, Inc. (Westfalia) announced the launch of Westfalia Parking App, an all-in-one consumer parking solution that will improve efficiency, safety, and convenience in parking garages across the world, including US, UAE, and Denmark.

Reasons to Buy

Market Dynamics

Market Drivers

Market Restraints

Market Opportunities

Key Topics Covered:

1. Introduction

2. Key Takeaways

3. Research Methodology

4. Automated Parking System Market Landscape

5. Automated Parking System Market - Key Market Dynamics

6. Automated Parking System Market - Global Analysis

7. Automated Parking System Market Analysis - By Component

8. Automated Parking System Market - By Automation Level

9. Automated Parking System Market - By Platform

10. Automated Parking System Market - By End-User

11. Automated Parking System Market - Geographic Analysis

12. Impact of COVID-19 Pandemic

13. Automated Parking System Market-Industry Landscape

14. Company Profiles

15. Appendix

Companies Mentioned

For more information about this report visit https://www.researchandmarkets.com/r/hid9ta

Media Contact:

Research and MarketsLaura Wood, Senior Manager[emailprotected]

For E.S.T Office Hours Call +1-917-300-0470For U.S./CAN Toll Free Call +1-800-526-8630For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1907Fax (outside U.S.): +353-1-481-1716

Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

SOURCE Research and Markets

Read this article:

Global Automated Parking System Market Poised to Hit $3.54 Billion by 2028 - PR Newswire