Robotic Parking System Market By Type (Standalone AGVs, AGVs With Peripheral); By Application (Commercial, Residential, Others); By Regions (North America, Europe, Asia-Pacific (APAC), Middle East & Africa And Latin America) – Global Insights, Growth, Size, Comparative Analysis, Trends And Forecast, 2017-2025.
The Robotic Parking System market growth will be further triggered by the deployment of innovative sensor technologies and inventions in wireless communications, induction loops, data analytics, and smart parking meters. Vendors are optimizing smart parking systems by incorporating sustainable solutions along with focusing on air quality, energy consumption, and others.
The forecast period is likely to witness more developers focusing on meeting the accepted benchmarks for the design, construction, and operation of buildings and more LEED-certified buildings which accomplish high energy and cost savings.
With scarcity in parking spaces and appreciating land prices across the globe, vendors in the Global Robotic Parking Systems Market are introducing new products that are cost-efficient and can optimize parking spaces.
The market is led by automated and semi-automated parking systems, which use mechanical systems to move cars into parking spaces. In the past couple of years there has been an upsurge in the adoption rate of robotic parking systems.
AGVs with peripherals segment is expected to account for the major share of the global market in the forecast period.
The AGVs with peripherals segment of the Global Robotic Parking Systems Market alleged for the foremost revenue and subjugated this market in the previous years. Increasing focus on safety and cost-effectiveness guarantee that this segment will overlook the market during the study period.
The peripherals used with AGVs comprise transfer stations, elevators, software systems, and automated terminals for producing tickets which bear the cost of better services to the clients.
Commercial segment is anticipated to dominate the global market.
The commercial segment led the market owing to the augmented number of public parking spaces, old office spaces, car rental companies, hotels, and restaurants selecting these systems. Features such as insufficient parking spaces in large establishments that have an immense number of workers and the requirement for effective parking subsidize to the growth of this segment.
Besides, the minimum cost required to install these systems in old buildings will equally enhance the growth of this market.
EMEA region is estimated to be the foremost region in the global market.
Geographically, Europe and Middle East & Africa are the leading regions of the market, expected to be responsible for generating both the highest revenue and maximum incremental growth during the estimated period. The growing number of robotic garages in commercial enterprises is a key factor enhancing the adoption of robotic parking systems in Europe and Middle East & Africa.
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