North America Automated Parking System Market Upcoming Trends and Regional Forecast 2028

The North America automated parking system market is expected to grow from US$ 421.52 million in 2021 to US$ 1,022.63 million by 2028; it is estimated to grow at a CAGR of 13.5% from 2021 to 2028.

Market Introduction

The North American automated parking system market, with the U.S. driving growth, is experiencing substantial expansion due to increasing vehicle numbers, limited urban parking spaces, rising consumer demand for convenience, and government smart city initiatives. Urbanization is a key factor in this market’s growth. The demand for luxury residential buildings, which often include automated parking solutions, is notable. A Redfin report shows a 41.6% increase in U.S. luxury home sales in Q1 2021. These systems also offer environmental advantages through reduced emissions.

Traditional parking inefficiencies are a key market driver. INTRIX data shows Americans waste 17 hours annually searching for parking, costing $345 per driver. In New York, this is 107 hours and $2,243 per year. The U.S. overpays $20 billion annually for parking, or $100 per driver. Projects like Parkplus’s 420-space
automated robotic system in Miami demonstrate growing adoption. These factors will drive automated parking system demand in the U.S.

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North America Automated Parking System Regional Insights

The regional scope of the North America Automated Parking System market requires understanding the specific areas where businesses operate and compete. Recognizing local distinctions, such as consumer preferences, economic conditions, and regulatory environments, is essential for tailoring effective strategies. For instance, preferences for EV plug types or battery backup durations must be considered. Businesses can expand reach by identifying underserved areas and adapting offerings to local demands. A focused market approach enables efficient resource allocation, targeted marketing, and competitive positioning, fostering growth in targeted regions.

North America Automated Parking System Strategic Insights

Strategic insights into the North America Automated Parking System market provide  data-driven analysis of industry trends, key players, and regional variations.These insights offer actionable recommendations, enabling businesses to differentiate by identifying untapped segments and developing unique value
propositions. Utilizing data analytics, stakeholders can anticipate market shifts and adjust strategies. A forward-looking perspective is crucial for navigating this market, allowing strategic positioning for long-term success. Effective insights empower informed decisions, driving profitability and achieving business objectives.

NORTH AMERICA AUTOMATED PARKING SYSTEM MARKET SEGMENTATION

North America Automated Parking System Market: By Component

• Hardware


• Software

North America Automated Parking System Market: By Platform

• Semi-automated


• Fully-automated

North America Automated Parking System Market: By Automation Level

• Palleted


• Non-palleted

North America Automated Parking System Market: By End-User

• Commercial


• Residential


• Mixed-use

North America Automated Parking System Market: By Country

• US


• Canada


• Mexico

North America Automated Parking System Market: Company Profiles

• AJ Automated Parking Systems Co., Ltd.


• CityLift Parking


• FATA Automation Inc.


• Klaus Multiparking


• Park Plus, Inc.


• Parkmatic


• Robotic Parking Systems, Inc.


• U-tron


• WESTFALIA TECHNOLOGIES, INC.

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