Global Automated Parking System Market Size to Reach $6.66

New York, United States, Oct. 27, 2022 (GLOBE NEWSWIRE) — The Global Automated Parking System Market Size was valued at $1.79 billion in 2021 and is expected to reach at a CAGR of 16.7% from 2022 to 2030. For a smarter, more sophisticated car parking experience, automated parking systems use AI and robotics. This guarantees drivers next-level convenience because their cars can be automatically parked in a few minutes without them having to search for a space. With the state-of-the-art system, drivers only need to park their cars on the pallet inside the designated chamber and then indicate at the kiosk that they want to start the parking process by entering a one-time passcode. An automated guided truck will move the cargo and the car to an open parking spot (AGV). The car will be moved by the AGV to the designated chamber for pickup when the driver enters the assigned password into the kiosk to retrieve it.

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Automated parking system solutions are best suited for the current environment because of how much technology has increased in cars over the previous two years. These factors may help the market in the post-pandemic period. The infrastructure (commercial and residential) sector is expected to increase significantly at a rate of 13.6% throughout the projected period, according to the World Construction Network. This is also projected to aid in the growth of the global market in the following years.

The growing population and widespread use of automobiles around the world have generated concerns about parking infrastructure, necessitating the development of the current infrastructure in urban areas. The need for personal mobility has grown as a result of rising per capita income and improved quality of life, and this is what is driving an increase in auto sales in large cities. There will be a problem with parking capacity in metro regions since there are a decreasing…