Automated Parking Systems Grab Nice Chunk Of Change By 2021

A report by Research Trades titled "Automated Parking Systems Market' offers an in-depth analysis of the automated parking systems market. Key players in the global automated parking systems market include: CityLift Parking, KLAUS Multiparking, Robotic Parking Systems, Skyline Parking, and Unitronics. Other Prominent Vendors in the market are: 5BY2, Automotion Parking Systems, Dayang Parking, Dongyang Menics, EITO&GLOBAL, FATA Automation, IHI, Katopark, Nissei Build Industries, Parkmatic, PARKPLUS, Qingdao Bortome, Simmatec, Sotefin, Tada, The Automated Parking Solution, Westfalia Parking Solutions, and WÖHR.


The analysts forecast global automated parking systems market to grow at a CAGR of 11.42% during the period 2017-2021. The global parking systems market comprises robotic (AGV-based system), semi-automated, as well as fully-automated parking systems that are used in residential, commercial, and other end-user segments. Vendors in this market are introducing new products that are cost-efficient for larger systems. While the market is dominated by automated and semi-automated parking systems that use mechanical systems to move cars into parking spaces, there has been an upsurge in the adoption rate of robotic parking systems based on automated guided vehicles (AGVs) in the last five years.


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One trend is smart parking. The future of the parking industry will primarily be driven by the adoption of smart parking solutions. The deployment of advanced sensor technologies, and innovations in wireless communications, data analytics, induction loops, and smart parking meters will be major developments contributing to the growth of the market.


Further, the automated parking systems market report states that one challenge in the market is regulatory requirements for operations of automated parking systems. Manufacturers in the market are subject to various regulations depending on the country where the products are manufactured and sold for commercial purposes. They are required to gain the necessary approvals and clearances before implementing automated parking systems. For instance, in Europe, automated parking systems are governed by the machinery directive 2006/42/EC, and their basic technical requirements are specified in the European standard EN 14010. Vendors are expected to comply with these regulations to ensure that the parking systems are optimized.


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