Automated Valet Parking System Market Revenue was valued at USD 1.2 Billion in 2024 and is estimated to reach USD 5.6 Billion by 2033, growing at a CAGR of 18.6% from 2026 to 2033.
The Automated Valet Parking System (AVPS) market was valued at approximately USD 1.5 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 15.2% from 2022 to 2030. The increasing adoption of electric vehicles (EVs), along with the growing demand for smart city infrastructure and the need for efficient space utilization in urban areas, is driving the markets expansion. This technology is gaining momentum due to its ability to optimize parking operations, reduce traffic congestion, and provide convenience to users. With the rise of connected vehicles and advancements in AI, the market is expected to experience significant growth in the coming years, reaching a projected value of approximately USD 7.5 billion by 2030.
Regionally, North America held the largest share of the Automated Valet Parking System market in 2022, accounting for around 35% of the total market share. This is mainly due to the regions advanced automotive industry, the increasing implementation of smart parking solutions, and the strong presence of technology companies. Europe is expected to experience substantial growth during the forecast period, with a CAGR of 16.4%, driven by the growing adoption of smart infrastructure and eco friendly mobility solutions. The Asia Pacific region is also anticipated to witness rapid growth, particularly in countries like Japan and China, owing to the increasing urbanization, rising demand for EVs, and government initiatives supporting the development of autonomous vehicle technologies. The market opportunities in these regions are significant as they pave the way for future advancements in parking management solutions.
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ZongMu Technology
Apollo
GEELY
TESLA
UISEE
Momenta
MOTOVIS
HOLOMATIC
SPACE
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Automated Valet Parking System Market
Sensor-Based Systems
Camera-Based Systems
Lidar-Based Systems
Hybrid Systems
Passenger Cars
Commercial Vehicles
Electric Vehicles
Luxury Vehicles
Hardware
Software
Communication System
Airport Parking
Shopping Malls
Corporate Offices
Residential Complexes
Automated Valet Parking
Parking Management System Integration
Maintenance & Support Services
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Automated Valet Parking System Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Automated Valet Parking System Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Automated Valet Parking System Market, By Type
6. Global Automated Valet Parking System Market, By Application
7. Global Automated Valet Parking System Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Automated Valet Parking System Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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