LONDON–(BUSINESS WIRE)–Nov 19, 2020–
The new robotic parking systems market research report from Technavio indicates neutral growth in the short term as the business impact of COVID-19 spreads.
Technavio has announced its latest market research report titled Global Robotic Parking Systems Market 2020-2024 (Graphic: Business Wire)
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“One of the primary growth drivers for this market is the scarcity and drawbacks of conventional parking spaces,” says a senior analyst for the Industrials industry at Technavio. As the markets recover Technavio expects the robotic parking systems market size to grow by USD 71.27 million during the period 2020-2024.”
Robotic Parking Systems Market Segment Highlights for 2020
- The robotic parking systems market is expected to post a year-over-year growth rate of 11.05%.
- Commercial end-users exhibited high demand for robotic parking systems in 2019.
- The growth of the robotic parking systems market will be significant in the commercial end-user segment during the forecast period.
- 40% of the growth will originate from the European region during 2020-2024.
- The market growth in Europe is driven by factors such as high adoption of smart parking, an increase in demand from luxury residential buildings, and increased vendor initiatives.
- Germany and the UK are the key markets for robotic parking systems in Europe.
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- The robotic parking systems market size is expected to accelerate at a CAGR of almost 17% during the forecast period.
- The robotic parking systems market is segmented End-user (commercial, residential, and others), Type (AGVs with peripherals and Standalone AGVs), and Geography (Europe, North America, APAC, MEA, and South America).
- The market is fragmented due to the presence of many established vendors holding significant market share.
- The research report offers information on several market vendors, including Amano Corp., Cisco Systems Inc., Conduent Inc., Flowbird SAS, IPS Group Inc., Kapsch TrafficCom AG, Libelium Comunicaciones Distribuidas SL, Nedap NV, Siemens AG, and SKIDATA AG.
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
CONTACT: Technavio Research
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INDUSTRY KEYWORD: OTHER TRANSPORT COMMERCIAL BUILDING & REAL ESTATE TECHNOLOGY CONSTRUCTION & PROPERTY TRANSPORT OTHER TECHNOLOGY BUILDING SYSTEMS SOFTWARE HARDWARE
SOURCE: Technavio Research
Copyright Business Wire 2020.
PUB: 11/19/2020 09:30 PM/DISC: 11/19/2020 09:30 PM
Copyright Business Wire 2020.