Potential Impact of COVID-19 on Automated Parking Management System Market

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 The global automated parking management systems market is markedly fragmented as each regional market can have different players holding prominent positions, notes Transparency Market Research (TMR). For instance, Skyline Parking and CityLift are expected to emerge as leading players in Europe and Asia Pacific. In North America, the top players are Robotic Parking Systems, Inc. and CityLift who hold a combined share of upward of 32.0% in the regional market.

TMR finds that some of the other prominent players operating in the global automated parking management systems market are EITO&GLOBAL INC., Round Automated Parking System, Klaus Multiparking Systems Pvt. Ltd., Dayang Parking Co. Ltd, and Unitronics.

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The global automatic parking management system market is projected to rise at a CAGR of over 13.00% from 2018 to 2026 and touch a valuation of US$4.5 billion by the end of 2026.

The various regional markets for automated parking management systems are the Middle East and Africa, North America, Latin America, Europe, and Asia Pacific. Of these, North America held the major share in 2017, vis-à-vis revenue, and is expected to retain its dominance throughout the assessment period.

The various technologies deployed in automated parking management systems are sensor technology, mobile technology, and RFID. Among all the types, the demand for sensors is expected to rise at a substantial pace over the forecast period. The rapid strides made by industrialization in suburban areas is a notable factor catalyzing the burgeoning demand for automated parking systems.

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