Table of Contents
Market Overview
The Global Automated Parking System Market size is expected to be worth around USD 25.1 Billion by 2034, from USD 3.3 Billion in 2024, growing at a CAGR of 22.5% during the forecast period.
The Automated Parking System market is growing fast due to urban expansion. Rising vehicle numbers create space challenges in cities. Automated parking systems help save land and reduce construction costs. These systems cut building volume by up to 65% compared to normal garages. This allows better land use in high-density areas.
Automated Parking Systems also support green goals. These systems save 13,750 gallons of gasoline each year by cutting idle time during parking. Less fuel use means lower emissions and cleaner air. Governments support APS in smart city plans. Many urban areas now promote contactless parking systems.
The market sees strong government backing. Public funds support APS projects in smart infrastructure programs. INRIX data shows drivers waste 17 hours yearly searching for parking. This results in $345 loss per driver in time, fuel, and emissions. APS can solve this growing issue.
Rising fuel prices and land costs add pressure to adopt APS. APS gives a tech-driven solution to old parking problems. It saves time, space, and money. Businesses, real estate developers, and cities benefit from adopting it. The APS market will grow fast due to demand for smart, clean, and efficient solutions.
Key Takeaways
- The Automated Parking System Market is projected to grow from USD 3.3 Billion in 2024 to USD 25.1 Billion by 2034, at a CAGR of 22.5%.
- Hardware leads the component segment with a 74.4% share, reflecting its critical role in operational performance.
- Tower systems dominate the structure type in 2024 with a 25.7% share, ideal for maximizing vertical urban space.
- Palleted systems held a 70.6% share in the platform type segment, appreciated for reliability and space optimization.
- Fully automated systems account for 72.7% of the market by automation level, highlighting a move toward smarter and safer parking.
- North America led the regional market in 2024 with a 43.7% share, driven by smart infrastructure and tech-forward cities.
Market Drivers
- Rapid Urbanization: As urban populations grow, so does the demand for space-saving infrastructure.
- Smart City Projects: Governments are integrating APS into smart city plans to improve mobility and resource efficiency.
- Environmental Concerns: Reduced idle times and fuel consumption support sustainability goals.
- Technological Advancements: Integration of machine learning, AI, and connected sensors is enhancing performance and safety.
- Real Estate Optimization: Builders prefer APS to utilize vertical space and enhance ROI in premium properties.
Market Segmentation
Component Analysis- In 2024, hardware led with 74.4% market share as it powers key parts like sensors and motors. Software is growing with tech upgrades like AI and IoT but still has a smaller share.
Structure Type Analysis- Tower systems held 25.7%, leading due to space-saving in cities. AGV, Silo, RGC, Puzzle, and Shuttle systems follow, each serving different space and cost needs.
Platform Type Analysis- Palleted systems led with 70.6% share for their safety and space efficiency. Non-palleted systems are faster but costlier and harder to manage.
Automation Level Analysis- Fully automated systems had 72.7% share, favored for saving space and labor. Semi-automated systems offer a budget-friendly option with partial automation.
End-Use Analysis- Commercial use led with 45.4% as businesses aim to save space in urban areas. Residential and mixed-use buildings also adopted these systems to improve efficiency.
Regional Insights
North America leads with 43.7% market share (USD 1.4 Billion) due to smart city projects, tech adoption, and strict space-use rules in the U.S. and Canada.
Europe grows due to tight environmental rules, costly urban land, and rising APS use in homes and offices especially in cities like Paris, London, and Berlin.
Asia Pacific sees fast growth as urbanization, car ownership, and smart city investments rise in China, Japan, and India, driving APS demand.
Middle East & Africa growth in this region is driven by smart city plans and infrastructure upgrades in countries like the UAE and Saudi Arabia.
Latin America lead APS adoption as urban traffic and vehicle numbers rise, pushing demand for space-saving parking solutions.
Market Trends
- Green Building Certifications: APS helps achieve LEED and other environmental certifications.
- Modular System Design: Easier scalability and maintenance.
- Integration with EV Charging: APS facilities now include EV charging docks, addressing the rise in electric vehicle ownership.
- Mobile App Interfaces: Users can reserve, pay, and retrieve their cars using mobile platforms.
- Public-Private Partnerships: Governments collaborate with private firms to integrate APS in public infrastructure.
Challenges
- High Initial Investment: Cost of implementation can be a barrier for small projects.
- Complex Installation: Requires coordination with architects, engineers, and municipal authorities.
- Regulatory Barriers: Different regions have varying building codes and safety regulations.
- Public Awareness: Limited understanding and hesitation among end users in some regions may slow adoption.
Competitive Landscape
The APS market is moderately consolidated with both global players and regional firms. Key players focus on strategic partnerships, technology innovations, geographic expansion, and mergers/acquisitions to strengthen their market presence. Companies are also prioritizing after-sales service, remote diagnostics, and software upgrades to enhance customer satisfaction.
Innovative business models like build-operate-transfer (BOT) and subscription-based parking solutions are also emerging to support scalability.
Future Outlook
The automated parking system market is expected to grow steadily over the next decade, supported by urban development, smart infrastructure investments, and the rise in autonomous vehicle technologies. With increasing emphasis on sustainability, land efficiency, and technological integration, APS will be a vital component of future urban ecosystems.
The convergence of IoT, cloud computing, and predictive analytics will lead to smarter, faster, and more user-friendly parking systems. Demand will continue to surge, especially in high-density regions, where conventional parking methods are no longer viable.
Recent Developments
In June 2025, Get My Parking reported a 50% growth in operating revenue, reaching Rs 29.4 crore, driven by the rising adoption of digital parking solutions across urban areas.
In July 2025, Parkobot raised INR 2.09 crore in a seed funding round led by Inflection Point Ventures to scale its automation technology and expand its market presence.
Also in July 2025, Metropolis announced that its total funding has reached $226 million, further solidifying its position in the smart parking infrastructure and mobility tech segment.
In May 2025, FAAC completed the acquisition of TIBA Parking Systems a strategic move to broaden its global footprint in the automated parking and access control markets.
Back in February 2025, Smart Parking acquired 100% of the issued capital in Peak Parking, enhancing its service portfolio and strengthening its operations across Australia and New Zealand.
Conclusion
The Automated Parking System market is set to reach USD 25.1 Billion by 2034, growing at a 22.5% CAGR. Driven by urbanization, smart city projects, and green goals, APS offers space-saving, eco-friendly, and tech-driven solutions. Despite high setup costs, strong demand and government support will fuel rapid adoption in commercial and residential sectors.
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