China Automated Parking System Market Size & Outlook
China automated parking system market, 2018-2030 (US$M)
Related Markets
China automated parking system market highlights
- The China automated parking system market generated a revenue of USD 292.6 million in 2023 and is expected to reach USD 939.8 million by 2030.
- The China market is expected to grow at a CAGR of 18.1% from 2024 to 2030.
- In terms of segment, hardware was the largest revenue generating component in 2023.
- Software is the most lucrative component segment registering the fastest growth during the forecast period.
Automated parking system market data book summary
| Market revenue in 2023 | USD 292.6 million |
| Market revenue in 2030 | USD 939.8 million |
| Growth rate | 18.1% (CAGR from 2023 to 2030) |
| Largest segment | Hardware |
| Fastest growing segment | Software |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Hardware, Software |
| Key market players worldwide | Unitronics, Skyline Parking, KLAUS Multiparking, Robotic Parking Systems, City Lift Parking, Wöhr, Parkmatic, Automated Parking Solutions, Park Plus |
Other key industry trends
- In terms of revenue, China accounted for 13.8% of the global automated parking system market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China automated parking system market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 412.7 million by 2030.
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Automated Parking System Market Scope
Automated Parking System Market Companies
| Name | Profile | # Employees | HQ | Website |
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China automated parking system market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to automated parking system market will help companies and investors design strategic landscapes.
Hardware was the largest segment with a revenue share of 84.55% in 2023. Horizon Databook has segmented the China automated parking system market based on hardware, software covering the revenue growth of each sub-segment from 2018 to 2030.
The parking system in China has been handled with poor enforcement measures, inadequate pricing, limited planning, unclear strategy, and ineffective management structure.
Despite the tremendous growth of vehicles, the challenge arises from poorly managed existing parking lots rather than from the lack of parking infrastructure. The installation of an automated parking system enables the effective reduction in traffic congestion and provides adequate data to identify the parking trends and develop strategies.
The Chinese government has been finding it challenging to manage traffic, especially in the major cities. Traffic jams in these cities are often caused by drivers looking for an appropriate parking space, which also contributes to high air pollution in the country.
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Target buyers of China automated parking system market databook
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Our clientele includes a mix of automated parking system market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the China automated parking system market , including forecasts for subscribers. This country databook contains high-level insights into China automated parking system market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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China automated parking system market size, by component, 2018-2030 (US$M)
China Automated Parking System Market Outlook Share, 2023 & 2030 (US$M)
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