India Automated Parking System Market Size & Outlook
India automated parking system market, 2018-2030 (US$M)
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India automated parking system market highlights
- The India automated parking system market generated a revenue of USD 102.6 million in 2023 and is expected to reach USD 412.7 million by 2030.
- The India market is expected to grow at a CAGR of 22% 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 102.6 million |
| Market revenue in 2030 | USD 412.7 million |
| Growth rate | 22% (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, India accounted for 4.8% 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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India 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 84.99% in 2023. Horizon Databook has segmented the India automated parking system market based on hardware, software covering the revenue growth of each sub-segment from 2018 to 2030.
The high population, increasing urbanization, traffic congestion, growing purchases of vehicles, and the high number of dual-income families have increased the burden on roads and created a scarcity of parking spaces in cities such as Delhi, Mumbai, Pune, and Bengaluru.
Indian cities face land constraints, especially in densely populated urban areas. This has prompted the need for smart, efficient, and reliable parking infrastructure in India. The increasing focus on improving parking management and reducing traffic congestion and air pollution is expected to fuel the demand for automated parking systems over the forecast period.
Moreover, the increasing number of traffic jams in major Indian cities is expected to fuel the demand for better parking facilities, in turn creating a demand for a smart solution. In 2015, the Indian government announced its objective to develop 100 smart city projects.
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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 India automated parking system market , including forecasts for subscribers. This country databook contains high-level insights into India automated parking system market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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India automated parking system market size, by component, 2018-2030 (US$M)
India Automated Parking System Market Outlook Share, 2023 & 2030 (US$M)
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