Saudi Arabia Automated Parking System Market Size & Outlook
Saudi Arabia automated parking system market, 2018-2030 (US$M)
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Saudi Arabia automated parking system market highlights
- The Saudi Arabia automated parking system market generated a revenue of USD 46.6 million in 2023 and is expected to reach USD 140.2 million by 2030.
- The Saudi Arabia market is expected to grow at a CAGR of 17% 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 46.6 million |
| Market revenue in 2030 | USD 140.2 million |
| Growth rate | 17% (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, Saudi Arabia accounted for 2.2% 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 Middle East & Africa, UAE automated parking system market is projected to lead the regional market in terms of revenue in 2030.
- UAE is the fastest growing regional market in Middle East & Africa and is projected to reach USD 164.9 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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Saudi Arabia 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 76.61% in 2023. Horizon Databook has segmented the Saudi Arabia automated parking system market based on hardware, software covering the revenue growth of each sub-segment from 2018 to 2030.
The government of Saudi Arabia is undertaking various initiatives to control the traffic on the streets, reduce the time spent for searching parking spaces, and curb energy consumption.
The rising number of smart city projects in the country is also boosting the adoption of smart traffic management systems, smart parking systems, smart toll payments, and smart transportation services.
For instance, the government of Saudi Arabia introduced NEOM, a groundbreaking smart city initiative near Riyadh, with a budget of USD 500 billion. The smart city project revolutionized urban living and sustainability and prioritized environmental balance and human well-being, committing firmly to harnessing renewable energy sources and implementing cutting-edge transportation systems.
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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 Saudi Arabia automated parking system market , including forecasts for subscribers. This country databook contains high-level insights into Saudi Arabia automated parking system market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Saudi Arabia automated parking system market size, by component, 2018-2030 (US$M)
Saudi Arabia Automated Parking System Market Outlook Share, 2023 & 2030 (US$M)
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