Automotive and Transportation Research Reports

The Automated Parking System Market is estimated to be USD 1.3 billion in 2019 and is projected to reach USD 3.6 billion by 2027, at a CAGR of 13.1% during the forecast period. The growing number of vehicles, scarcity of the land, increasing urbanization have led to an increase in the demand automated parking system market. The positive outlook of the infrastructure industry and rising number of luxury and high-rise buildings is expected to drive the automated parking system market. Automated parking system can accommodate a larger number of cars and reduce vehicle emission while parking the vehicle. Hence, the need for low emission and sustainable parking solution to drive the growth of automated parking system market. The commercial segment by end-user type is estimated to be the largest in the automated parking system market. According to the International Parking Institute, the commercial segment contributes the largest share of total revenue generated in the parking ind...