Middle East and Africa Automated Parking System Market

Market Introduction

The Middle East & Africa region includes South Africa, Saudi Arabia, and the UAE. In the following years, the region is predicted to see a substantial expansion in commercialization and industrialization, which would boost demand for automated parking systems across various industries. With rising demand for passenger cars, the MEA is one of the world's fastest-growing automotive markets. Saudi Arabia is experiencing sustainable development due to the government's continued support for the industry in Yanbu and Al Jubail. Furthermore, South Africa is one of Africa's fastest-growing countries, with a strong automotive sector. According to OICA data, the country manufactured 447,218 units of all types of cars in 2020. As a result, developing manufacturing industries, such as the automotive sector, are predicted to favorably impact the automated parking systems market as the number of vehicles sold increases. With an increasing sale of vehicles, the demand for automated parking systems will also rise. For instance, as part of the completion of phase one of the Ibn Battuta Gate project in Dubai, UAE, the first automated, multistory car park opened in December 2019. Similarly, Spacegate will open the new Hikmah Tower automated park in Dubai, which will accommodate (1252) vehicles, and NGP Solutions will open the Dubai Courts Compound in Dubai, which will accommodate (1248) vehicles. Thus, the market is expected to flourish in the upcoming years.

The automated parking system market in the Middle East & Africa has witnessed a decline due to disruptions in supply chains; enactment of containment measures such as travel restrictions, production shutdowns, and lockdowns; and the disrupted supply and distribution of electronics and mechanical automotive components. South Africa accounts for a major share in the automotive sector in the Middle East & Africa. The shuttering of production factories has had an enormous impact on the country's automotive sector. Several players in the automated parking system market are introducing innovative green and environmentally friendly technologies to recover sales. Employers are focused on making a larger floor area available for employees to assist with social distancing, which could result in review and adjustments in the parking spaces, as per the required sizes. By creating smart, flexible, and right-sized parking facilities, vendors in the MEA can better prepare themselves to continue providing the desired level of services.

Middle East and Africa Automated Parking System Strategic Insights

Strategic insights for the Middle East and Africa Automated Parking System provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

Middle East and Africa Automated Parking System Report Scope

Middle East and Africa Automated Parking System Regional Insights

The geographic scope of the Middle East and Africa Automated Parking System refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

The automated parking system market in Middle East & Africa is expected to grow from US$ 76.07 million in 2021 to US$ 166.98 million by 2028; it is estimated to grow at a CAGR of 11.9% from 2021 to 2028. Development of smart cities; there is a surge in the construction of smart cities and green spaces in buildings, which is creating lucrative growth opportunities for the developers of automated parking systems. Rising population and rapid urbanization have led to significant innovations in the concepts of living. As a part of the smart city projects, the construction of luxury buildings accommodating green spaces is anticipated to augment the demand for APS systems, which help save space and lower car emissions. Reclaiming valuable spaces for amenities, and additional living by owners, and architects will offer ample opportunities for the automated parking system market players to provide customized solutions with enhanced functionalities for improving the profitability of commercial buildings. 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 Middle East & Africa 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 Middle East & Africa 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.; Klaus Multiparking; Parkmatic; Robotic Parking Systems, Inc.; and U-tron among others.

Reasons to buy report

• To understand the Middle East & Africa automated parking system market landscape and identify market segments that are most likely to guarantee a strong return
• Stay ahead of the race by comprehending the ever-changing competitive landscape for Middle East & Africa automated parking system market
• Efficiently plan M&A and partnership deals in Middle East & Africa automated parking system market by identifying market segments with the most promising probable sales
• Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form Middle East & Africa automated parking system market
• Obtain market revenue forecast for market by various segments from 2021-2028 in Middle East & Africa region.

MIDDLE EAST & AFRICA AUTOMATED PARKING SYSTEM MARKET SEGMENTATION

By Component

• Hardware
• Software

By Platform

• Semi-automated
• Fully-automated

By

Automation Level

• Palleted
• Non-palleted

By

End-User

• Commercial
• Residential
• Mixed-use

By Country

• South Africa
• UAE
• Saudi Arabia
• Rest of Middle East & Africa

Company Profiles

• AJ Automated Parking Systems Co., Ltd.
• Klaus Multiparking
• Parkmatic
• Robotic Parking Systems, Inc.
• U-tron