South America Automated Parking System Market

Market Introduction

The South America automated parking system market is sub segmented into Brazil and Argentina. In terms of industrial automation, Brazil is one of the region's fastest-growing countries. Advanced automated parking systems have been implemented at the Morumbi shopping complex in Sao Paolo, Brazil, which has the largest car park system in the South American region. The shopping complex is spread over 46,000 m2 space, with ~400 retail businesses and ~3800 parking spaces that handle 22,000 vehicles every day, on average. To handle the entire complex, 44 distinct access and revenue control sites have been deployed. The automated system is deployed with 11 entry lanes and 13 exit lanes to control traffic flow, It also features 21 conveniently located parking fee payment booths. The automated method was designed to eliminate the widespread manipulation that happens with manual systems, in the form of cashier indiscretion and use of illegitimate tickets by drivers. Morumbi's automated parking has already proven to be so effective that there are plans to expand it, including plans for additional automation with pay-on-foot stations and a vehicle identification system to avoid car theft. To further strengthen personal security, the system also includes CCTV cameras. Furthermore, rising traffic congestion in big cities, combined with expanding automotive vehicle consumption, is encouraging the development of automated parking systems to efficiently manage parking spaces.

In 2020, Brazil recorded the highest number of COVID-19 cases in South America, followed by Colombia, Ecuador, Chile, Peru, and Argentina. The pandemic has adversely affected various industries, including the automotive sector. Many companies in the region suspended vehicle production due to the worsening COVID-19 public health crisis, while others opted to restructure their production facilities. The slowdown of sales and reduction in consumer demand resulted in significant losses for the regional automated parking system market players. The automated parking system market witnessed a decline in performance in South America as the majority of stimulus package deployed by governments were focused on public healthcare and tax relief. However, a decrease in the number of new cases, relaxations in COVID-led restrictions, and investments and changes in production processes are anticipated to promote market recovery in this region.

South America Automated Parking System Strategic Insights

Strategic insights for the South America 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.

South America Automated Parking System Report Scope

South America Automated Parking System Regional Insights

The geographic scope of the South America 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 South America is expected to grow from US$ 52.39 million in 2021 to US$ 120.02 million by 2028; it is estimated to grow at a CAGR of 12.6% from 2021 to 2028. Development of smart cities; there is a surge in the construction of smart cities and green spaces in buildings across the region, 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.

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 South America 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 South America 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.; FATA Automation Inc.; Klaus Multiparking; and Parkmatic among others.

Reasons to buy report

• To understand the South America 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 South America automated parking system market
• Efficiently plan M&A and partnership deals in South America 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 South America automated parking system market
• Obtain market revenue forecast for market by various segments from 2021-2028 in South America region.

SOUTH AMERICA 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

• Brazil
• Argentina
• Rest of South America

Company Profiles

• AJ Automated Parking Systems Co., Ltd.
• FATA Automation Inc.
• Klaus Multiparking
• Parkmatic