Latin America Automated Parking System Market Size & Outlook
Latin America automated parking system market, 2018-2030 (US$M)
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Latin America automated parking system market highlights
- The Latin America automated parking system market generated a revenue of USD 70.0 million in 2023.
- The 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.
- Country-wise, Mexico is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 70.0 million |
| Market revenue in 2030 | USD 223.6 million |
| Growth rate | 18.1% (CAGR from 2023 to 2030) |
| Largest segment | Hardware |
| Fastest growing segment | Software |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 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, Latin America region accounted for 3.3% of the global automated parking system market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 2,443.4 million by 2030.
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Automated Parking System Market Scope
Automated Parking System Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Latin America 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 81.71% in 2023. Horizon Databook has segmented the Latin America automated parking system market based on hardware, software covering the revenue growth of each sub-segment from 2018 to 2030.
The increasing awareness about the benefits of automated parking systems among the governments of Latin American countries is anticipated to boost the growth of the market over the forecast period.
Latin America, where almost 81% of the population lives in cities, is among the most urbanized regions in the world. The increasing urban population and the looming lack of urban infrastructure have significantly affected the standard of living in Latin American countries.
Cities such as Bogota, Mexico City, Lima, Santiago de Chile, and Rio de Janeiro are among the 50 most congested cities across the globe.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America automated parking system market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America automated parking system market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America automated parking system market size, by country, 2018-2030 (US$M)
Latin America Automated Parking System Market Outlook Share, 2023 & 2030 (US$M)
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