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Automated Parking Management Systems Market: Growing Infrastructure Development in Metropolitan Cities Encourages Growth

Press release Description

Albany, New York, August 8, 2018: A widespread forecast study, titled “Automated Parking Management Systems Market– Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018-2026” is the focus of a new report publicized to the vast archive of Market Research Reports Search Engine (MRRSE). This 611-page precise study works to examine the current & future scenarios prevailing in the global automated parking management market by focusing on key market factors. Information related to factors driving and restraining the growth in the concerned market merged with opportunities likely to affect the market during the period until 2026 is also presented in the study.

Parking systems have been in place for a considerable amount of time. They make the process of managing a parking lot faster, easier and more profitable. As the number of vehicles increasing day by day, the demand for safe and convenient parking is also increasing. This, as a result, given a solid boost to the demand for automated parking management system. Automated parking management systems provide convenience to vehicle drivers. Considering various features and growing demand, analyst has identified that the global automated parking management system market is anticipated to expand at a CAGR of more than 13.00% during the forecast period in order to reach a value of US$ 4.5 Bn by 2026.

The analysts of the report further identified that rise in urbanization, infrastructure development in metropolitan cities, increase in new vehicle registration, and increase in migration of people from rural areas to urban areas are driving the market growth of automated parking systems. On the basis of geography, the research finds that North America is likely to continue to be at the forefront of global demand, and anticipated to grow at an impressive rate through 2026.

In the later part, the study comprises of market segmentation which bifurcates the global automated parking management system market on the basis of mode of automation, technology, end-user, service and solution; and system. By technology, the study covers semi-automated and fully automated parking system. Semi-automated is a proven technology with low manufacturing cost and widely used in passenger vehicles. The analyst found that semi-automated parking system accounts for highest market share in 2017 and anticipated to grow steadily. By technology, the study comprises mobile technology, RFID, sensor and others. All of these segments have been analyzed based on present and future trends.

At last, the report also examines the competitive landscape in the global market and profiles some of the key players in this market in terms of company overview, strategy and recent developments. Dayang Parking Co. Ltd, Skyline Parking AG, Eito&Global Inc., Klaus Multiparking Systems Pvt. Ltd., Robotic Parking Systems, Inc., Parkmatic Tm, CityLift, Dongyang Menics, UNITRONICS, Automotion Parking Systems, Fata Automation, and MHE Demag (S) Pte Ltd. are major players outlined in the study.

Browse Full Global Automated Parking Management Systems Market Report with TOC :

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