North America Automated Parking System Market Share, Growth, Demand, Rising Trends, Business Opportunities, Challenges and Competitive Analysis Till 2033: SPER Market Research
An automotive automated parking system is a type of technology that enables a car to park itself in a specified parking space without the need for human interaction. The system use sensors, cameras, and software algorithms to scan the surroundings, recognise obstructions, and manoeuvre the
According to SPER market research, ‘North America Automated Parking System Market Size- By Component, By Platform Type, By Automation Level, By End Use- Regional Outlook, Competitive Strategies and Segment Forecast to 2033’state that the North America Automated Parking System Market is predicted to reach USD XX Billion by 2033 with a CAGR of 16.1%.
North America Automated Parking System Market Driving Factors:
- Urbanisation: Rapid urbanisation in North America raises the demand for effective parking solutions in densely populated areas, resulting in the development of automated parking systems.
- Land Scarcity: With limited available parking space, new solutions are required to maximise parking capacity, making automated parking systems appealing possibilities.
- Technological Advancements: Continuous advances in automation, robotics, and sensor technologies improve the efficiency and efficacy of automated parking systems, driving market growth.
- Environmental Concerns: Growing environmental concerns drive the development of sustainable parking solutions, such as automated systems that maximise space utilisation while lowering emissions.
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North America Automated Parking System Market Challenges:
- High Initial Costs: The high initial costs of establishing automated parking systems provide a barrier to market adoption, limiting access for particular stakeholders.
- Technical intricacy: The intricacy of automated parking systems necessitates specialised skills for installation, operation, and maintenance, which may be a deterrent for some prospective buyers.
- Regulatory Obstacles: Building codes, safety requirements, and zoning regulations may impede the deployment of automated parking systems in some areas.
- Consumer acceptability: Low consumer knowledge and acceptability of automated parking systems may hinder their adoption, particularly in areas where traditional parking methods are prominent.
COVID Impact: The United States suffered the most severe COVID-19 consequences in 2020, with lockdowns and travel restrictions leading to production site closures and labour shortages, wreaking havoc on North American automakers. The automated parking sector was heavily disrupted, disrupting supply chains, manufacturing, and sales. Amid the pandemic’s economic impact, automakers are reevaluating financial priorities, diverting resources away from car production and technological advancements. Social alienation and decreased reliance on metro transit or ridesharing are impeding the return of North Americans to offices, schools, and sports venues. This trend may delay the shift from personal vehicle ownership to alternate modes of transportation, emphasising the continuous need for parking space.
The US market dominated the North America Automated Parking System Market by Country. Additionally, some of the market key players are EITO&GLOBAL INC., Robotic Parking Systems Inc., Skyline Parking, Others.
North America Automated Parking System Market Segmentation
By Component: Based on the Component, North America Automated Parking System Market is segmented as; Hardware, Software.
By Platform Type: Based on the Platform Type, North America Automated Parking System Market is segmented as; Palleted, Non-Palleted.
By Automation Level: Based on the Automation Level, North America Automated Parking System Market is segmented as; Fully Automated, Semi-Automated.
By End Use: Based on the End Use, North America Automated Parking System Market is segmented as; Commercial, Residential, Mixed-Use.
By Region: This research also includes data for Canada, Mexico, US, Rest of North America.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.
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North America Automated Parking System Market Size
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