South Korea Automated Parking System Market Size & Outlook
South Korea automated parking system market, 2018-2030 (US$M)
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South Korea automated parking system market highlights
- The South Korea automated parking system market generated a revenue of USD 72.1 million in 2023 and is expected to reach USD 266.9 million by 2030.
- The South Korea market is expected to grow at a CAGR of 20.6% 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 72.1 million |
| Market revenue in 2030 | USD 266.9 million |
| Growth rate | 20.6% (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, South Korea accounted for 3.4% 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 |
|---|
South Korea 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 74.2% in 2023. Horizon Databook has segmented the South Korea automated parking system market based on hardware, software covering the revenue growth of each sub-segment from 2018 to 2030.
The strong emphasis on technological advancements and innovations plays a pivotal role in the growth of the South Korean automated parking system market.
The government and private sector are investing heavily in research and development, leading to the development of cutting-edge technologies such as smart traffic management systems, parking robots, automated parking systems, and Advanced Driver Assistance Systems.
For instance, in December 2023, HL Mando Group developed “Parkie”, a Level 4 autonomous driving technology-incorporated parking robot for a variety of automobiles.
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Target buyers of South Korea 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 South Korea automated parking system market , including forecasts for subscribers. This country databook contains high-level insights into South Korea automated parking system market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea automated parking system market size, by component, 2018-2030 (US$M)
South Korea Automated Parking System Market Outlook Share, 2023 & 2030 (US$M)
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