Research Nester’s recent market research analysis on “Automated Parking System Market: Global Demand Analysis & Opportunity Outlook 2033” delivers a detailed competitor’s analysis and a detailed overview of the global Automated Parking System Market in terms of market segmentation by type, automation, end-user, and by region.
Growing Rate of Urbanization Worldwide to Drive the Growth of Global Automated Parking System Market
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The global Automated Parking System Market is estimated to grow majorly on account of the fact that urbanization is occurring quickly over the world, with cities growing and rural environments diminishing. It will be followed by an increase in the number of homes and businesses, all of which require effective parking infrastructure. The UN predicts that by 2018, 68% of the world's population would reside in urban areas, up from 55% in 2017.
The market research report also includes other growth factors and challenges that are associated with the growth of the global Automated Parking System Market. Some of the major growth indicators are:
Growth Drivers:
- Growing World Population
- Need for Sustainable Parking Solutions
Challenges:
Expensive initial installation costs, electrical and mechanical failures are some of the major factors anticipated to hamper the growth of the global Automated Parking System Market. Despite of the numerous restraint factors associated with the growth of the market, Research Nester’s analysis indicates a robust growth for the market during the forecast period
The market research report on global automated parking systems encompasses an in-depth analysis of the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends. These analyses help organizations identify a continuous flow of growth opportunities to succeed in an unpredictable future. Additionally, the growth opportunities exposed by the market is poised to gain significant momentum in the next few years.
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By automation, the Automated Parking System Market is segmented into fully automated and semi-automated. The fully automated segment is to garner a highest revenue by the end of 2033 by growing at a significant CAGR over the forecast period. This is owing to their advantages over semi-automated options, such as higher efficiency, increased capacity, lower emission, and improved safety & convenience.
By region, the Europe Automated Parking System Market is to generate the highest revenue by the end of 2033. This is because the European Union has established programs to reduce traffic, parking problems, and pollution, like the 2009 Action Plan on Urban Mobility.
The research is global in nature and covers detailed analysis on the Automated Parking System Market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising of global Automated Parking System Market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
