World’s Top 8 Companies in Automated Parking Systems Market
Automated Parking Systems market was valued at USD 1.81 Billion in 2020 and is projected to reach USD 4.23 Billion by 2028, growing at a CAGR of 10.21% from 2021 to 2028
According to Vantage Market Research Global Automated Parking Systems market was valued at USD 1.81 Billion in 2020 and is projected to reach USD 4.23 Billion by 2028, growing at a CAGR of 10.21% from 2021 to 2028.
An automated parking system is a mechanical system designed to reduce the area and/or volume required for parking cars. Like a multi-storey parking garage.
Automated parking management refers to strategies and programs that aim to optimize the use of vacant parking spaces and make efficient use of parking resources. Parking management solutions are in great demand as parking is a very expensive resource in most urban locations. In such places, a structured parking space costs more than the car it serves. Plenty of parking also encourages more vehicle ownership which can be hazardous to the environment and cause more traffic congestion. Smart parking is now used in shopping centers, airports, colleges, malls and government agencies.
The future of the Automated Parking Systems market
Technology based parking management systems are contributing to the needs of reducing air pollution, simplifying ticket payment, optimizing traffic and much more. It helps in making cities more secure and economically sustainable. It is one of the most advanced solutions to the emerging problems associated with increasing vehicles, rapid urbanization and increasing population.
Globally, drivers face a lot of frustration while looking for a proper parking spot. In addition, governments around the world are focusing on smart transportation systems because they reduce congestion, make public transportation systems run more smoothly, and increase infrastructure capacity. Moreover, introduction of advanced cloud-based car park management solutions, increasing penetration of smartphones, GPS, cloud software and growing online services are the factors driving the parking management market positively.
Benefits of Automated Parking Management
Automated Parking Management System provides a solution for both the vehicle owner and the parking lot owner as it reduces the parking management cost and facilitates hassle free vehicle parking.
- Lowers costs for businesses, governments and consumers.
- Reduces problems like traffic congestion, pollution emissions and accidents.
- Safety and security can be easily achieved through proper management.
- The use of parking management software helps drivers find a location quickly in a short amount of time.
- Increases traffic flow due to reduced vehicular congestion around the parking lot.
Following are the Top 8 Companies in the Automated Parking Systems Industry:
- T2 Systems
- Flowbird Group
- Amano Corporation
- IBM Corporation
- Robotic Parking Systems, Inc
- Xerox Corporation
Established in 1994, T2 Systems provides the most comprehensive parking management solutions and services to improve parking. With over 25 years in the parking management market, the company provides PermitNow, a software solution for event parking management for organizations. The company also manages professional services including Permit Management and Enforcement, PARCS, Multi-Space Pay Stations and Implementation and Installation, FlexPert Services, Managed Services, Quotation Services and Field Services.
Revenue of T2 Systems is USD 39 Million.
Established in 2003, Flowbird Group is a software company committed to smart city solutions to make personal travel simpler, safer and faster. The company contributes to improving the living environment by reducing air pollution, simplifying payments; optimizing traffic and helping cities become economically sustainable.
The company provides a mobility platform for data consolidation, ticket and permit management; mobile applications, including Flowbird Apps and White Label Apps; urban services like pollution sensors, EV charging; Software like SmartFolio, WebOffice and Analytics Control Tool. Flowbird GO+ and Minipark are ticketless, hassle-free parking solutions by the company to improve entry and exit liquidity.
Revenue of Flowbird Group is USD 414 Million.
Established in 1945, Amano corporation is a Japan-based company engaged in real-time information systems, parking systems, environmental systems and cleaning systems. The company provides parking management software, vehicle guidance systems, flap-lock systems, gate-type systems, bicycle parking systems, parking facility data center services to create a better world designed for both vehicles and people.
Revenue of Amano Corporation is USD 1.26 Billion.
Established in 1911, International Business Machines Corporation (IBM) is a multinational technology company that provides cloud solutions, digital workplace, process design and operations, and network services. IBM, in collaboration with San Francisco-based startup Streetline, offers remote sensors that can determine whether parking space is taken up by a car. IBM's Smarter Parking Starter Kit is designed to help people reduce parking congestion and maximize parking fees.
Revenue of IBM Corporation is USD 73.6 Billion.
Established in 1994, US-based Robotic Parking Systems, Inc. provides the largest automated parking facility in the world and holds the Guinness World Record for it - not only once but twice. The company is the first to introduce the term "robot parking" and has built the first automated parking systems in the Middle East and America. Robotic Parking System provides innovative parking solutions with improved space utilization and enhanced safety and security for cars and individuals. The system can handle vehicles weighing up to 3 tons and can accommodate a wide range of sedans and large SUVs such as the Escalade, Range Rover, Porsche, Tahoe and more.
Revenue of Robotic Parking Systems, Inc is USD 1.64 Million.
Established in 1906, Xerox Corporation is the world's leading enterprise for business processing and document management. The company has become a leader in parking management systems with over 46 years of experience. Xerox Multipark is popular among shopping complexes because it collects, aggregates and enables data from one or more parking systems. The company also provides the Multipark web portal for complete access to car parks and features supervision applications, park convergence and park access. The Xerox Multipark Codex EN/EX 550 Terminal is the new parking management solution that uses 2D barcodes instead of magnetic stamps to reduce maintenance costs.
Revenue of Xerox Corporation is USD 7.2 Billion.
Established in 1977, SKIDATA, an Austrian company, is the global market leader in access and revenue management. The company provides gateways for parking management at mountain sites, fairs, attractions and arenas. SKIDATA has more than 10,000 establishments in over 100 countries in ski resorts, airports, cities, shopping malls, stadiums, spa and wellness facilities, trade fairs and amusement parks. In May 2016, the company installed an electronic parking management system at Salzburg Airport. This parking management system can manage 3,200 parking spaces.
Revenue of SKIDATA is USD 368 Million.
Established in 2005, Streetline leverages ML (Machine Learning) technology to deliver real-time parking availability and parking demand data, accurate and reliable, off-street and on-street. Parking SDK or Parking Software Development Kit is a mobility innovation designed by the company that enables accurate calculation of real-time parking availability with no or little physical infrastructure. The company holds a patent for a smart parking system that detects the presence of a car through ultra-low power wireless sensors located in individual parking spaces.
Revenue of Streetline is USD 4.6 Million.
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