The global automotive automated parking system market is anticipated to grow at a significant CAGR of 15.4% during the forecast period. One of the major factors that are fuelling the market is the growing competitiveness in the automobile industry. The market players are offering various new features for making their products better than the others, and the automated features are getting more attention than the others which has increased the demand for the automotive automated parking system. For instance, in November 2021, the Audi A8 received a subtle facelift for 2022, with new styling features, and advanced lighting technology which also included the automotive parking system. The updated A8 splits 40 driver assistance systems in which the “Park” package features Audi’s remote park assist, which allows the car to automatically maneuver in and out of bay or parallel parking spaces without the requirement of a driver.
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The COVID-19 pandemic had impacted most of the industries in the market. The spread of the SARS-COV-19 led most governments across the globe to impose a lockdown that strictly restricted the use of vehicles. All this led to a decrease in the demand, and production activities in the shock absorber market. As per the data of Organization Internationale des Constructeurs d’Automobiles (OICA) 2020, the production of vehicles declined by 16% across the globe as compared to the production in 2019. Sales of the vehicles also declined by more than 13% in 2020. However, as the situation got normal the market grew considerably. As per the data of OICA 2021, the production of vehicles grew by 3% as compared to 2020.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Market Segmentation
Global Automotive Automated Parking System Market by Automation Level
- Semi-automated
- Fully-automated
Global Automotive Automated Parking System Market by System
- Hardware
- Software
Global Automotive Automated Parking System Market by End-User
- Commercial
- Residential
Regional Analysis
- North America
- US
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
Company Profiles
- AJ Automated Parking Systems
- AutoMotion Parking Systems
- Boomerang Systems Inc.
- Citylift
- Dayang Parking Co., Ltd
- EITO&GLOBAL INC.
- Expert Parking
- FATA AUTOMATION
- Mitsubishi Electric Corp.
- Park Plus, Inc.
- Robotic Parking Systems, Inc.
- Fehr Lagerlogistik AG (Skyline Parking)
- The Automated Parking Solution
- Unitronics (1989) (R”G) Ltd.
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global automotive automated parking system market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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