DUBLIN--(BUSINESS WIRE)--The "Automotive Automated Parking System Market 2022-2028" report has been added to ResearchAndMarkets.com's offering.
The global automotive automated parking system market is anticipated to grow at a substantial CAGR of 15.4% during the forecast period. The continuous technological advancement in vehicles is one of the core factors behind the increasing demand for the automotive automated parking system.
In the past few years, market players have been deploying advanced automated features to the vehicle for providing something different and new to the consumers, and it has been increasing with every new launch. It has increased the demand for the automotive automated parking system. For instance, in September 2020, MG launched its MG Gloster with multiple advanced features such as ADAS level-1, auto parking, and other features.
The global automotive automated parking system market is segmented based on the automation level, system, and end-user. Based on the automation level, the market is segmented into semi-automated and fully automated. Based on the system, the market is sub-segmented into hardware and software. Based on the end-user, the market is sub-segmented into commercial and residential. Based on the automation level, the semi-automated is expected to hold the prominent share in the market, owing to the availability and low cost of semi-automated as compared to fully automated.
Geographically the global automotive automated parking system market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. Europe is anticipated to grow significantly during the forecast period owing to the existing large vehicle market in the region. The key vehicle market players present across the region are integrating high-tech features in vehicles such as Volkswagen, Mercedes, BMW, Audi, and others. As per the data published by OICA, 16,330,509 vehicles were produced in the Europe region in 2021, which is the 2nd largest number of vehicles produced across the globe in 2021.
The major companies serving the global automotive automated parking system market include Klaus Multiparking Systems Pvt. Ltd., Lodige Industries GmbH, ShinMaywa Industries Ltd., Westfalia Parking, Wohr Parking Systems Pvt. Ltd., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in February 2022, Jaguar Land Rover and Nvidia announced a partnership for developing software-defined features to advance automated driving in their vehicle from 2025. The focus was on embedding Artificial Intelligence (AI) based features, including advanced visualization and occupant and driver monitoring via the Drive IX software.
Market Segmentation
- Global Automotive Automated Parking System Market Research and Analysis by Automation Level.
- Global Automotive Automated Parking System Market Research and Analysis by System.
- Global Automotive Automated Parking System Market Research and Analysis by End-User.
The Report Covers
- Comprehensive research methodology of the global automotive automated parking system market.
- This report also includes a detailed and extensive market overview with key analyst insights.
- An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
- Analysis of regional regulations and other government policies impacting the global automotive automated parking system market.
- Insights about market determinants that are stimulating the global automotive automated parking system market.
- Detailed and extensive market segments with the regional distribution of forecasted revenues.
- Extensive profiles and recent developments of market players.
Key Topics Covered:
1. Report Summary
2. Market Overview and Insights
3. Competitive Landscape
4. Market Segmentation
5. Regional Analysis
6. Company Profiles
Companies Mentioned
- Aj Automated Parking Systems
- Automotion Parking Systems
- Boomerang Systems Inc.
- Citylift
- Dayang Parking Co. Ltd
- Eito&Global Inc.
- Expert Parking
- Fata Automation
- Mitsubishi Electric Corp.
- Park Plus, Inc.
- Robotic Parking Systems, Inc.
- Fehr Lagerlogistik AG (Skyline Parking)
- the Automated Parking Solution
- Unitronics (1989) (R"G) Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/2plhk9
