Europe Automated Parking System Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Component (Hardware and Software), Automation Level (Semi-Automated and Fully-Automated), Platform (Palleted and Non-Palleted), and End-User (Residential, Commercial, and Mixed-Use)
Market Introduction
Germany, France, the UK, and Italy are the prime contributors to the European automated parking system market. Western Europe is a well-known for its improved living conditions, with higher income levels of residents. Countries have in Western Europe have greater GDP per capita than the rest of the nations in the region. Steady economic progress is an indicator of opportunities for the automated parking system market in European countries. The Canadian government has announced an investment of US$ 1.8 million in an Ontario-based business s2e Technologies to test the world's first integrated, automated electric vehicle (EV) parking system at EVE Park in London's West 5 community. Governments of the EU countries are mandating the compliance with EN 14010 Safety of machinery to ensure that automated parking system are safe for the general public. According to the scope of this standard, automated parking systems must be rigorously tested to eliminate mechanical, electrical, thermal, and other risks. Design review, visual inspection, functional testing, loading tests, and specialized verification/measurements are all part of the verification process. An automated parking system expands a parking lot's capacity, improves parking efficiency, lowers greenhouse gas emissions, avoids car theft, and enhances safety and convenience. According to the INTRIX survey, an average German driver spends 41 hours per year looking for a parking spot. The cost of wasted fuel, time, and emissions are estimated to be over USD 45 billion. The rising population places significant strain on parking infrastructure, necessitating the expansion of existing infrastructure in metropolitan areas. Furthermore, rising per capita income and improved lifestyles have increased the demand for personal mobility, resulting in increased automobile sales in metropolitan areas. As a result, the number of vehicles on the road outnumber the number of parking spots available in cities. These factors collectively drive the adoption of automated parking systems that can ensure optimum space utilization for parking. In July 2019, HORIBA MIRA, a multinational engineering firm, teamed with Coventry University to launch "Trusted Autonomous Parking" in Nuneaton, the UK's first connected and autonomous vehicle (CAV) parking facility. Moreover, in January 2020, Klaus Multiparking built a fully automatic parking system—MasterVario R3L—at Rathbone Square, London, in collaboration with Lendlease, a British construction and real estate company, and MACE architects.
With the outbreak of SARS-CoV-2, the production and sales of cars came to a sudden halt in most of Europe. In April 2020, European countries witnessed the historically lowest new car registrations. The automotive sector plays an important role in economic growth and employment in many European countries. The collapse of the demand side, disruptions in supply chains, and challenges related to technologies have severely impacted the automotive sector in these countries, which put the economy in a deep crisis and resulted in a reduction in international trade. Automotive production in Europe fell by 21%, while the UK, Spain, and Germany witnessed a major decline of ~11–40% each. The government is lifting restrictions in different parts of the regions. In addition, progress in vaccination programs and other supportive measures would stimulate demand for cars, thereby boosting sales in the coming years. Government initiatives to rejuvenate suburban areas can potentially bring more cars on the road, which could further propel the demand for automated parking systems in Europe during the forecast period.
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Market Overview and Dynamics
The automated parking system market in Europe is expected to grow from US$ 494.42 million in 2021 to US$ 1,256.09 million by 2028; it is estimated to grow at a CAGR of 14.2% from 2021 to 2028. Robotic garages and robotic parking; garages equipped with robotics are anticipated to become increasingly popular over the next several years as they store and retrieve vehicles in a secure, space-efficient manner. As large cities report the shortage of rooms, the popularity of automated garages is rising rapidly owing to their space management capabilities. Robotic parking systems eliminate the requirement of human interference to fit vehicles into tightly packed cubicles, and they require enough room for robots to move. Densely populated countries are thus quickly embracing robotic parking systems. Companies that offer automated, robotic garages, are placing greater emphasis on upgrading the efficiency and sustainability of transportation systems. PARKPLUS Electric Vehicle Charging solution provides EV charging capacity to its automated and semi-automated parking systems. The solution is designed for pallet-based parking systems and platforms. The vehicles’ connection with a charging system is established when the parking platform arrives at designated parking space in the garage. Growing demands for simple, robust, and user-friendly solutions for charging EVs are increasing the constructions of reliable APS that are compatible with all models of electric vehicles. This is bolstering the growth of the automated parking system market.
Key Market Segments
On the basis of component, the market is segmented into hardware and software. In 2020, the hardware segment held the largest share Europe automated parking system market. Based on the automation level, the automated parking system market is segmented into semi-automated and fully-automated. The market for fully-automated parking systems is anticipated to grow at a significant CAGR during the forecast period. On the basis of platform, the market is segmented into palleted and non-palleted. The palleted segment accounts for largest market share in the 2020. On the basis of end-user, the automated parking system market is segmented into residential, commercial, and mixed-use. The commercial segment contributed a substantial share in 2020.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the automated parking system market in Europe are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are AJ Automated Parking Systems Co., Ltd.; Citylift Parking; Fata Automation Inc; Klaus Multiparking; Park Plus, Inc.; Parkmatic; Robotic Parking Systems, Inc.; Skyline Parking (Fehr Lagerlogistik AG); Unitronic Corporation Inc.; and Westfalia Technologies, Inc. among others.
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EUROPE AUTOMATED PARKING SYSTEM MARKET SEGMENTATION
- Hardware
- Software
- Semi-automated
- Fully-automated
- Palleted
- Non-palleted
- Commercial
- Residential
- Mixed-use
By Country
- France
- Germany
- UK
- Italy
- Russia
- Rest of Europe
Company Profiles
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Europe Automated Parking System Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 Europe
4.3 Ecosystem Analysis
4.4 Expert Opinions
5. Europe Automated Parking System Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Rising Number of Vehicles and Consequently Growing Demand for Sustainable Parking Solutions
5.1.2 Surge in Luxury Buildings with Increased Space and Enhanced Parking Facilities
5.2 Market Restraints
5.2.1 Huge Initial Investment Requirements and Complexity of Monitoring Systems
5.3 Market Opportunities
5.3.1 Development of “Smart Cities”
5.4 Future Trends
5.4.1 Robotic Garages and Robotic Parking
5.5 Impact Analysis of Drivers and Restraints
6. Automated Parking System Market – Europe Analysis
6.1 Automated Parking System Market Europe Overview
6.2 Automated Parking System Market – Europe Revenue and Forecast to 2028 (US$ Million)
7. Europe Automated Parking System Market Analysis – By Component
7.1 Overview
7.2 Europe Automated Parking System Market, By Component (2020 and 2028)
7.3 Hardware
7.3.1 Overview
7.3.2 Hardware: Europe Automated Parking System Market – Revenue and Forecast to 2028 (US$ Million)
7.4 Software
7.4.1 Overview
7.4.2 Software: Europe Automated Parking System Market – Revenue and Forecast to 2028 (US$ Million)
8. Europe Automated Parking System Market – By Automation Level
8.1 Overview
8.2 Europe Automated Parking System Market, By Automation Level (2020 and 2028)
8.3 Semi-automated
8.3.1 Overview
8.3.2 Semi-automated: Europe Automated Parking System Market – Revenue and Forecast to 2028 (US$ Million)
8.4 Fully-automated
8.4.1 Overview
8.4.2 Fully-automated: Europe Automated Parking System Market – Revenue and Forecast to 2028 (US$ Million)
9. Europe Automated Parking System Market – By Platform
9.1 Overview
9.2 Europe Automated Parking System Market, By Platform (2020 and 2028)
9.3 Palleted
9.3.1 Overview
9.3.2 Palleted: Europe Automated Parking System Market – Revenue and Forecast to 2028 (US$ Million)
9.4 Non-palleted
9.4.1 Overview
9.4.2 Non-palleted: Europe Automated Parking System Market – Revenue and Forecast to 2028 (US$ Million)
10. Europe Automated Parking System Market – By End-User
10.1 Overview
10.2 Europe Automated Parking System Market, By End-User (2020 and 2028)
10.4 Residential
10.4.1 Overview
10.4.2 Residential: Europe Automated Parking System Market – Revenue and Forecast to 2028 (US$ Million)
10.5 Commercial
10.5.1 Overview
10.5.2 Commercial: Europe Automated Parking System Market – Revenue and Forecast to 2028 (US$ Million)
10.6 Mixed-use
10.6.1 Overview
10.6.2 Mixed-use: Europe Automated Parking System Market – Revenue and Forecast to 2028 (US$ Million)
11. Europe Automated Parking System Market – Country Analysis
11.1 Europe: Automated Parking System Market
11.1.1 Europe: Automated Parking System Market- By Key Country
11.1.1.1 Germany: Automated Parking System Market – Revenue and Forecast to 2028 (US$ Million)
11.1.1.1.1 Germany: Automated Parking System Market- By Component
11.1.1.1.2 Germany: Automated Parking System Market- By Automation Level
11.1.1.1.3 Germany: Automated Parking System Market- By Platform
11.1.1.1.4 Germany: Automated Parking System Market- By End-User
11.1.1.2 France: Automated Parking System Market – Revenue and Forecast to 2028 (US$ Million)
11.1.1.2.1 France: Automated Parking System Market- By Component
11.1.1.2.2 France: Automated Parking System Market- By Automation Level
11.1.1.2.3 France: Automated Parking System Market- By Platform
11.1.1.2.4 France: Automated Parking System Market- By End-User
11.1.1.3 Italy: Automated Parking System Market – Revenue and Forecast to 2028 (US$ Million)
11.1.1.3.1 Italy: Automated Parking System Market- By Component
11.1.1.3.2 Italy: Automated Parking System Market- By Automation Level
11.1.1.3.3 Italy: Automated Parking System Market- By Platform
11.1.1.3.4 Italy: Automated Parking System Market- By End-User
11.1.1.4 UK: Automated Parking System Market – Revenue and Forecast to 2028 (US$ Million)
11.1.1.4.1 UK: Automated Parking System Market- By Component
11.1.1.4.2 UK: Automated Parking System Market- By Automation Level
11.1.1.4.3 UK: Automated Parking System Market- By Platform
11.1.1.4.4 UK: Automated Parking System Market- By End-User
11.1.1.5 Russia: Automated Parking System Market – Revenue and Forecast to 2028 (US$ Million)
11.1.1.5.1 Russia: Automated Parking System Market- By Component
11.1.1.5.2 Russia: Automated Parking System Market- By Automation Level
11.1.1.5.3 Russia: Automated Parking System Market- By Platform
11.1.1.5.4 Russia: Automated Parking System Market- By End-User
11.1.1.6 Rest of Europe: Automated Parking System Market – Revenue and Forecast to 2028 (US$ Million)
11.1.1.6.1 Rest of Europe: Automated Parking System Market- By Component
11.1.1.6.2 Rest of Europe: Automated Parking System Market- By Automation Level
11.1.1.6.3 Rest of Europe: Automated Parking System Market- By Platform
11.1.1.6.4 Rest of Europe: Automated Parking System Market- By End-User
12. Impact of COVID-19 Pandemic on Europe Automated Parking System Market
12.1 Europe: Impact Assessment of COVID-19 Pandemic
13. Europe Automated Parking System Market-Industry Landscape
13.1 Overview
13.2 Market Initiative
14. Company Profiles
14.1 AJ Automated Parking Systems Co., Ltd.
14.1.1 Key Facts
14.1.2 Business Description
14.1.3 Products and Services
14.1.4 Financial Overview
14.1.5 SWOT Analysis
14.1.6 Key Developments
14.2 CityLift Parking
14.2.1 Key Facts
14.2.2 Business Description
14.2.3 Products and Services
14.2.4 Financial Overview
14.2.5 SWOT Analysis
14.2.6 Key Developments
14.3 FATA Automation Inc.
14.3.1 Key Facts
14.3.2 Business Description
14.3.3 Products and Services
14.3.4 Financial Overview
14.3.5 SWOT Analysis
14.3.6 Key Developments
14.4 Klaus Multiparking
14.4.1 Key Facts
14.4.2 Business Description
14.4.3 Products and Services
14.4.4 Financial Overview
14.4.5 SWOT Analysis
14.4.6 Key Developments
14.5 Parkmatic
14.5.1 Key Facts
14.5.2 Business Description
14.5.3 Products and Services
14.5.4 Financial Overview
14.5.5 SWOT Analysis
14.5.6 Key Developments
14.6 Robotic Parking Systems, Inc.
14.6.1 Key Facts
14.6.2 Business Description
14.6.3 Products and Services
14.6.4 Financial Overview
14.6.5 SWOT Analysis
14.6.6 Key Developments
14.7 Skyline Parking (Fehr Lagerlogistik AG)
14.7.1 Key Facts
14.7.2 Business Description
14.7.3 Products and Services
14.7.4 Financial Overview
14.7.5 SWOT Analysis
14.7.6 Key Developments
14.8 U-tron
14.8.1 Key Facts
14.8.2 Business Description
14.8.3 Products and Services
14.8.4 Financial Overview
14.8.5 SWOT Analysis
14.8.6 Key Developments
14.9 WESTFALIA TECHNOLOGIES, INC.
14.9.1 Key Facts
14.9.2 Business Description
14.9.3 Products and Services
14.9.4 Financial Overview
14.9.5 SWOT Analysis
14.9.6 Key Developments
15. Appendix
15.1 About The Insight Partners
15.2 Word Index
LIST OF TABLES
Table 1. Europe Automated Parking System Market – Revenue and Forecast to 2028 (US$ Million)
Table 2. Europe: Automated Parking System Market- By Key Country – Revenue and Forecast to 2028 (US$ Million)
Table 3. Germany: Automated Parking System Market- By Component –Revenue and Forecast to 2028 (US$ Million)
Table 4. Germany: Automated Parking System Market- By Automation Level –Revenue and Forecast to 2028 (US$ Million)
Table 5. Germany: Automated Parking System Market- By Platform –Revenue and Forecast to 2028 (US$ Million)
Table 6. Germany: Automated Parking System Market- By End-User –Revenue and Forecast to 2028 (US$ Million)
Table 7. France: Automated Parking System Market- By Component –Revenue and Forecast to 2028 (US$ Million)
Table 8. France: Automated Parking System Market- By Automation Level –Revenue and Forecast to 2028 (US$ Million)
Table 9. France: Automated Parking System Market- By Platform –Revenue and Forecast to 2028 (US$ Million)
Table 10. France: Automated Parking System Market- By End-User –Revenue and Forecast to 2028 (US$ Million)
Table 11. Italy: Automated Parking System Market- By Component –Revenue and Forecast to 2028 (US$ Million)
Table 12. Italy: Automated Parking System Market- By Automation Level –Revenue and Forecast to 2028 (US$ Million)
Table 13. Italy: Automated Parking System Market- By Platform –Revenue and Forecast to 2028 (US$ Million)
Table 14. Italy: Automated Parking System Market- By End-User –Revenue and Forecast to 2028 (US$ Million)
Table 15. UK: Automated Parking System Market- By Component –Revenue and Forecast to 2028 (US$ Million)
Table 16. UK: Automated Parking System Market- By Automation Level –Revenue and Forecast to 2028 (US$ Million)
Table 17. UK: Automated Parking System Market- By Platform –Revenue and Forecast to 2028 (US$ Million)
Table 18. UK: Automated Parking System Market- By End-User –Revenue and Forecast to 2028 (US$ Million)
Table 19. Russia: Automated Parking System Market- By Component –Revenue and Forecast to 2028 (US$ Million)
Table 20. Russia: Automated Parking System Market- By Automation Level –Revenue and Forecast to 2028 (US$ Million)
Table 21. Russia: Automated Parking System Market- By Platform –Revenue and Forecast to 2028 (US$ Million)
Table 22. Russia: Automated Parking System Market- By End-User –Revenue and Forecast to 2028 (US$ Million)
Table 23. Rest of Europe: Automated Parking System Market- By Component –Revenue and Forecast to 2028 (US$ Million)
Table 24. Rest of Europe: Automated Parking System Market- By Automation Level –Revenue and Forecast to 2028 (US$ Million)
Table 25. Rest of Europe: Automated Parking System Market- By Platform –Revenue and Forecast to 2028 (US$ Million)
Table 26. Rest of Europe: Automated Parking System Market- By End-User –Revenue and Forecast to 2028 (US$ Million)
Table 27. List of Abbreviation
LIST OF FIGURES
Figure 1. Europe Automated Parking System Market Segmentation
Figure 2. Europe Automated Parking System Market Segmentation – By Country
Figure 3. Europe Automated Parking System Market Overview
Figure 4. Software Segment is Growing with Highest CAGR in 2020
Figure 5. Fully-Automated Held the Largest Market Share in 2020
Figure 6. Palleted Held the Largest Market Share in 2020
Figure 7. Commercial Held the Largest Market Share in 2020
Figure 8. Europe Automated Parking System Market, By Country
Figure 9. Europe – PEST Analysis
Figure 10. Europe Automated Parking System Market– Ecosystem Analysis
Figure 11. Expert Opinions
Figure 12. Europe Automated Parking System Market: Impact Analysis of Drivers and Restraints
Figure 13. Europe Automated Parking System Market – Revenue and Forecast to 2028 (US$ Million)
Figure 14. Europe Automated Parking System Market Revenue Share, by Component (2020 and 2028)
Figure 15. Hardware: Europe Automated Parking System Market – Revenue and Forecast to 2028 (US$ Million)
Figure 16. Software: Europe Automated Parking System Market – Revenue and Forecast to 2028 (US$ Million)
Figure 17. Europe Automated Parking System Market Revenue Share, By Automation Level (2020 and 2028)
Figure 18. Semi-automated: Europe Automated Parking System Market – Revenue and Forecast to 2028 (US$ Million)
Figure 19. Fully-automated: Europe Automated Parking System Market – Revenue and Forecast to 2028 (US$ Million)
Figure 20. Europe Automated Parking System Market Revenue Share, by Platform (2020 and 2028)
Figure 21. Palleted: Europe Automated Parking System Market – Revenue and Forecast to 2028 (US$ Million)
Figure 22. Non-palleted: Europe Automated Parking System Market – Revenue and Forecast to 2028 (US$ Million)
Figure 23. Europe Automated Parking System Market Revenue Share, by End-User (2020 and 2028)
Figure 24. Residential: Europe Automated Parking System Market – Revenue and Forecast to 2028 (US$ Million)
Figure 25. Commercial: Europe Automated Parking System Market – Revenue and Forecast to 2028 (US$ Million)
Figure 26. Mixed-use: Europe Automated Parking System Market – Revenue and Forecast to 2028 (US$ Million)
Figure 27. Europe: Automated Parking System Market – Revenue by Country to 2028 (US$ Million)
Figure 28. Europe: Automated Parking System Market Revenue Share, By Key Country (2020 and 2028)
Figure 29. Germany: Automated Parking System Market – Revenue and Forecast to 2028 (US$ Million)
Figure 30. France: Automated Parking System Market – Revenue and Forecast to 2028 (US$ Million)
Figure 31. Italy: Automated Parking System Market – Revenue and Forecast to 2028 (US$ Million)
Figure 32. UK: Automated Parking System Market – Revenue and Forecast to 2028 (US$ Million)
Figure 33. Russia: Automated Parking System Market – Revenue and Forecast to 2028 (US$ Million)
Figure 34. Rest of Europe: Automated Parking System Market – Revenue and Forecast to 2028 (US$ Million)
Figure 35. Impact of COVID-19 Pandemic in Europe Country Markets
- AJ Automated Parking Systems Co., Ltd.
- CityLift Parking
- FATA Automation Inc.
- Klaus Multiparking
- Parkmatic
- Robotic Parking Systems, Inc.
- Skyline Parking (Fehr Lagerlogistik AG)
- U-tron
- WESTFALIA TECHNOLOGIES, INC.
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