The automated parking system is an intelligent system that can automatically park a car in a parking space without human intervention. It detects the environmental information and effective parking space around the vehicle through sensors such as ultrasonic radar, cameras, etc. scattered around the vehicle. Based on this information, the system can plan a parking path and control the vehicle's steering, acceleration, deceleration, and other operations to achieve automatic parking in and out of the vehicle. The emergence of automated parking systems has greatly improved the convenience and safety of parking, especially when facing complex or narrow parking spaces, it can better leverage its advantages.

Overview of Market Development

With the rapid development of technology, the automated parking system, as an important component of intelligent driving technology, is increasingly attracting market attention and favor. From the perspective of market size, the global automated parking system market is showing a steady growth trend. According to our research data, the global market size of automated parking systems is estimated to be $2201 million in 2024, an increase of 11.79% compared to 2023.

In the future, with the increasing awareness and acceptance of intelligent driving technology among consumers, as well as the increasingly prominent problem of parking difficulties in the process of urbanization, the market demand for automated parking systems will continue to expand. In addition, with the continuous development of autonomous driving technology, the automated parking system will be more closely integrated with other intelligent driving technologies. For example, through collaborative work with modules such as in-car navigation systems and vehicle control systems, the automated parking system can perceive the surrounding environment in real-time, predict traffic conditions during vehicle operation, and adjust parking strategies accordingly to achieve more efficient and safe parking operations. This will further promote market expansion. By 2029, the global market size of automated parking systems is expected to increase to $3793 million.

Analysis of Market Competition Pattern

From the perspective of market competition, the concentration of the global automated parking system market is low. Data shows that in 2023, the top 3 companies achieved a total revenue of $280 million in the automated parking system market, with a total revenue share of 14.22%; The total revenue of the Top 6 enterprises' automated parking system market was $470 million, with a total revenue share of only 23.87%. The top three companies were Unitronics, Dayang Parking, and APS. In 2023, these three companies accounted for 5.79%, 4.44%, and 3.99% of the global market revenue for automated parking systems, respectively.

Source: www.globalmarketmonitor.com 

Segmented Market Analysis

From the perspective of product types, according to the degree of automation, automated parking systems can be divided into two categories: fully automated parking systems and semi-automated parking systems. The semi-automated parking system mainly relies on the ultrasonic sensors of the vehicle to detect parking spaces and provide parking space information and route planning to the driver. During the parking process, the driver still needs to control the vehicle's acceleration, braking, and gear-shifting operations, but the system will assist the driver in better parking through sound or visual prompts. Compared with semi-automated parking systems, fully automated parking systems can independently complete all operations during the parking process, including steering, acceleration, and deceleration. The driver only needs to press the park button, and the system can automatically complete the parking task.

Research has shown that in two product types, semi-automated parking systems dominate the market. Data shows that the global sub-market size for semi-automated parking systems is expected to reach $1605 million in 2024, with an estimated market size of 72.92%.

From a regional perspective, the global market for automated parking systems is mainly concentrated in North America, Europe, and the Asia Pacific region. Among them, Europe is the largest revenue market. According to the data, the estimated market size of the European automated parking system in 2024 is $990 million, and its share in the global market is expected to reach 41.30%; The Asia Pacific and North American markets are expected to rank second and third with 27.46% and 21.30% respectively.

Global Automated Parking System Segment Market Size and Market Share Forecast in 2024

	Market Size (Million USD)	Market Share
Segmented by Type
Fully Automated Parking Systems	596	27.08%
Semi-Automated Parking Systems	1605	72.92%
Segmented by Region
North America	445	21.30%
Europe	990	41.30%
Asia Pacific	550	27.46%
South America	120	5.59%
Middle East & Africa	96	4.35%