Posted 3/11/2024, 11:35:00 AM
Automated Parking System Market to Reach $9.47 Billion by 2035 Amid Urbanization and Smart City Trends
- Global automated parking system market to reach $9.47 billion by 2035 due to increasing vehicle ownership and need for parking solutions
- Market growth driven by rising urban populations, decreasing land availability, and smart city initiatives
- Europe to account for significant market share due to policies managing vehicle traffic and growth of smart cities
- Asia Pacific presents major growth opportunities with high vehicle sales, urban development, and infrastructure projects
- Key players include Robotic Parking System, Unitronics, WOHR, Skyline Parking, Klaus Multiparking, Park Plus, and others