Automated Valet Parking Market by Technology, by Sales Channel and Geography: Analysis, Size, Growth, Trends, and Forecast, 2024-2028

Automated Valet Parking Market Outlook 2024-2028

As urbanization continues to increase and land for parking becomes scarcer, the need for efficient parking solutions has never been more critical. Automated valet parking offers a solution to challenges such as vehicle density, parking space shortages, and traffic congestion in urban areas. This market is segmented by technology, by sales channel, and by region, including North America, Europe, APAC, South America, and the Middle East and Africa. This report also analyzes key competitors in the automated valet parking market, such as BMW, Robert Bosch, and Siemens.

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The automated valet parking market is experiencing rapid growth, driven by advancements in automated valet parking technology and the increasing demand for more efficient and convenient parking solutions. Automated valet parking systems allow vehicles to autonomously park themselves without the need for human intervention, offering significant automated valet parking benefits, such as reduced traffic congestion and improved space utilization in crowded urban environments. As automated valet parking innovations continue to emerge, automated valet parking companies are developing cutting-edge solutions that integrate artificial intelligence, sensors, and real-time data processing to ensure safe and accurate parking operations. Automated valet parking adoption is being driven by the growing interest in autonomous vehicles and smart city infrastructure. However, the market faces several automated valet parking challenges, including regulatory hurdles, cost considerations, and public trust in autonomous systems. Ongoing automated valet parking research is focused on overcoming these obstacles, improving system reliability, and expanding the market for widespread use in commercial, residential, and public parking areas.

Market Segmentation

The automated valet parking market is segmented according to technology and sales channel. Technavio’s industry report provides actionable market insights on each segment, including market share and growth forecasts.

Technology Segmentation

• Image Sensors
• Radar Sensors
• Ultrasonic Sensors

Sales Channel Segmentation

• OEMs
• Aftermarket

Geographical Segmentation

• North America
  • Canada
  • US
• APAC
  • China
  • India
  • Japan
  • South Korea
• Europe
  • Germany
  • UK
  • France
• South America
  • Brazil
• Middle East and Africa

Regional Analysis

Different parts of the world will have different demands, supply chain logistics, legal nuances, and other factors to take into consideration when entering a new market. Technavio’s automated valet parking market research helps facilitate strategic business decisions by providing a detailed look at regional market trends, drivers, and challenges along with predictions for regional market sizes and growth.

Regions covered in this market report include:

• North America
• Europe
• APAC
• South America
• The Middle East and Africa

Market Dynamics

Components of the automated valet parking ecosystem include advanced technology such as millimeter-wave radar and surround view cameras, as well as sophisticated navigation systems and Internet of Things (IoT) platforms. These systems enable seamless communication between vehicles, parking infrastructure, and user management services, allowing for efficient parking space reservations and instructions. Automated valet parking can also contribute to sustainable growth and smart cities initiatives by reducing CO2 emissions and fuel wastage. Solar-based automated parking and electric vehicle charging points further enhance the environmental benefits of these systems.

Autonomous valet parking can be implemented in designated or shared places, allowing for flexible parking models tailored to the needs of different environments. Whether it's an underground automated parking system or above-ground automated parking system, the goal is to maximize space availability while ensuring the safety and security of vehicles.

Private consumers, luxury residential buildings, hotels, and commercial complexes are among the key stakeholders driving the adoption of automated valet parking systems, attracted by the promise of cost reduction, increased efficiency, and enhanced convenience. As the industry continues to innovate and evolve, intelligent software solutions and advancements in IoT-based technology will play a crucial role in shaping the future of transportation and mobility.

Competitive Landscape

This report provides an analysis of the market’s competitive landscape and offers information on the products offered by various companies in order to help clients improve their market positions. It also provides a detailed analysis of the upcoming automated valet parking market trends and challenges and how they will influence market growth, designed to help companies create effective strategies to make the most of the global market.

Companies leading the global automated valet parking market include:

• BMW Group
• Continental AG
• Cubic Corporation
• Daimler AG
• Robert Bosch GmbH
• Siemens AG
• Valeo SA
• Volkswagen AG

Market Scope

Technology	Image Sensors Radar Sensors Ultrasonic Sensors
Sales Channel	OEMs Aftermarket
Regional Landscape	North America Europe APAC South America Middle East and Africa
Key Companies Profiled	BMW Group Continental AG Cubic Corporation Daimler AG Robert Bosch GmbH Siemens AG Valeo SA Volkswagen AG

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Market Report Insights

• Precise evaluation of the market’s size and a forecast of market performance from 2024 to 2028
• Qualitative and quantitative analysis of the current market scenario and future prospects, allowing clients to make informed business decisions
• In-depth analysis of the drivers and challenges that will impact the growth of the market between 2024 and 2028
• Predictions about upcoming trends and changes in consumer behavior
• A thorough industry analysis of the competitive landscape and detailed information on key market players, including factors such as market positioning and product offerings
• Region-by-region analysis of market growth and opportunities across North America, Europe, APAC, South America, and the Middle East and Africa

FAQ

How does Automated Valet Parking work?

AVP systems use a combination of sensors, cameras, and algorithms to detect and navigate available parking spaces. Vehicles equipped with the necessary technology can communicate with the parking infrastructure to find a suitable spot and park autonomously.

How does Automated Valet Parking contribute to smart city initiatives?

AVP systems support smart city goals by reducing traffic congestion, optimizing land use with more efficient parking solutions, improving air quality through reduced vehicle emissions while circling for parking, and enhancing overall urban mobility.

What role does government policy play in the growth of the Automated Valet Parking Market?

Government policies and regulations related to autonomous vehicles, urban planning, and infrastructure development can influence the adoption and deployment of AVP systems. Supportive policies may include funding incentives, pilot programs, and safety standards.

What is the future outlook for the Automated Valet Parking Market?

The market is expected to grow as technology advances, costs decrease, and more cities and businesses recognize the benefits of AVP systems. Future trends may include integration with electric and connected vehicles, expansion into new geographic markets, and enhancements in user experience and system reliability.

Table of Contents

1 Executive Summary

• 1.1 Market overview
  • Exhibit 01: Executive Summary – Chart on Market Overview
  • Exhibit 02: Executive Summary – Data Table on Market Overview
  • Exhibit 03: Executive Summary – Chart on Country Market Characteristics
  • Exhibit 04: Executive Summary – Chart on Market by Geography
  • Exhibit 05: Executive Summary – Chart on Market Segmentation by Distribution Channel
  • Exhibit 06: Executive Summary – Chart on Market Segmentation by Product
  • Exhibit 07: Executive Summary – Chart on Incremental Growth
  • Exhibit 08: Executive Summary – Data Table on Incremental Growth
  • Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
  • Exhibit 10: Parent market
  • Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
  • Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis
  • Exhibit 13: Market segments

• 3.3 Market size 2023

• 3.4 Market outlook: Forecast for 2023-2028
  • Exhibit 14: Chart on North America - Market size and forecast 2023-2028 ($ billion)
  • Exhibit 15: Data Table on Regional - Market size and forecast 2023-2028 ($ billion)
  • Exhibit 16: Chart on North America: Year-over-year growth 2023-2028 (%)
  • Exhibit 17: Data Table on Regional - Market size and forecast 2023-2028 ($ billion)

4 Historic Market Size

• 4.1 Dietary supplements market in North America 2018 - 2022
  • Exhibit 18: Historic Market Size – Data Table on dietary supplements market in north America 2018 - 2022 ($ billion)

• 4.2 Distribution Channel Segment Analysis 2018 - 2022
  • Exhibit 19: Historic Market Size – Distribution Channel Segment 2018 - 2022 ($ billion)

• 4.3 Product Segment Analysis 2018 - 2022
  • Exhibit 20: Historic Market Size – Product Segment 2018 - 2022 ($ billion)

• 4.4 Geography Segment Analysis 2018 - 2022
  • Exhibit 21: Historic Market Size – Geography Segment 2018 - 2022 ($ billion)

5 Five Forces Analysis

• 5.1 Five forces summary
  • Exhibit 22: Five forces analysis - Comparison between 2023 and 2028

• 5.2 Bargaining power of buyers
  • Exhibit 23: Chart on Bargaining power of buyers – Impact of key factors 2023 and 2028

• 5.3 Bargaining power of suppliers
  • Exhibit 24: Bargaining power of suppliers – Impact of key factors in 2023 and 2028

• 5.4 Threat of new entrants
  • Exhibit 25: Threat of new entrants – Impact of key factors in 2023 and 2028

• 5.5 Threat of substitutes
  • Exhibit 26: Threat of substitutes – Impact of key factors in 2023 and 2028

• 5.6 Threat of rivalry
  • Exhibit 27: Threat of rivalry – Impact of key factors in 2023 and 2028

• 5.7 Market condition
  • Exhibit 28: Chart on Market condition - Five forces 2023 and 2028

6 Market Segmentation by Distribution Channel

• 6.1 Market segments
  • Exhibit 29: Chart on Distribution Channel - Market share 2023-2028 (%)
  • Exhibit 30: Data Table on Distribution Channel - Market share 2023-2028 (%)

• 6.2 Comparison by Distribution Channel
  • Exhibit 31: Chart on Comparison by Distribution Channel
  • Exhibit 32: Data Table on Comparison by Distribution Channel

• 6.3 Offline - Market size and forecast 2023-2028
  • Exhibit 33: Chart on Offline - Market size and forecast 2023-2028 ($ billion)
  • Exhibit 34: Data Table on Offline - Market size and forecast 2023-2028 ($ billion)
  • Exhibit 35: Chart on Offline - Year-over-year growth 2023-2028 (%)
  • Exhibit 36: Data Table on Offline - Year-over-year growth 2023-2028 (%)

• 6.4 Online - Market size and forecast 2023-2028
  • Exhibit 37: Chart on Online - Market size and forecast 2023-2028 ($ billion)
  • Exhibit 38: Data Table on Online - Market size and forecast 2023-2028 ($ billion)
  • Exhibit 39: Chart on Online - Year-over-year growth 2023-2028 (%)
  • Exhibit 40: Data Table on Online - Year-over-year growth 2023-2028 (%)

• 6.5 Market opportunity by Distribution Channel
  • Exhibit 41: Market opportunity by Distribution Channel ($ billion)
  • Exhibit 42: Data Table on Market opportunity by Distribution Channel ($ billion)

7 Market Segmentation by Product

• 7.1 Market segments
  • Exhibit 43: Chart on Product - Market share 2023-2028 (%)
  • Exhibit 44: Data Table on Product - Market share 2023-2028 (%)

• 7.2 Comparison by Product
  • Exhibit 45: Chart on Comparison by Product
  • Exhibit 46: Data Table on Comparison by Product

• 7.7 Others - Market size and forecast 2023-2028
  • Exhibit 63: Chart on Others - Market size and forecast 2023-2028 ($ billion)
  • Exhibit 64: Data Table on Others - Market size and forecast 2023-2028 ($ billion)
  • Exhibit 65: Chart on Others - Year-over-year growth 2023-2028 (%)
  • Exhibit 66: Data Table on Others - Year-over-year growth 2023-2028 (%)

• 7.8 Market opportunity by Product
  • Exhibit 67: Market opportunity by Product ($ billion)
  • Exhibit 68: Data Table on Market opportunity by Product ($ billion)

8 Customer Landscape

• 8.1 Customer landscape overview
  • Exhibit 69: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation
  • Exhibit 70: Chart on Market share by geography - 2023-2028 (%)
  • Exhibit 71: Data Table on Market share by geography - 2023-2028 (%)

• 9.2 Geographic comparison
  • Exhibit 72: Chart on Geographic comparison
  • Exhibit 73: Data Table on Geographic comparison

• 9.6 Market opportunity by geography
  • Exhibit 74: Market opportunity by geography ($ billion)
  • Exhibit 75: Data Table on Market opportunity by geography ($ billion)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges
  • Exhibit 76: Impact of drivers and challenges in 2023 and 2028

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape
  • Exhibit 77: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
  • Exhibit 78: Overview on factors of disruption

• 11.4 Industry risks
  • Exhibit 79: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered
  • Exhibit 80: Vendors covered

• 12.2 Market positioning of vendors
  • Exhibit 81: Matrix on vendor position and classification

• 13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist
  • Exhibit 82: Inclusions checklist
  • Exhibit 83: Exclusions checklist

• 13.3 Currency conversion rates for US$
  • Exhibit 84: Currency conversion rates for US$

• 13.4 Research methodology
  • Exhibit 85: Research methodology
  • Exhibit 86: Validation techniques employed for market sizing
  • Exhibit 87: Information sources

• 13.5 List of abbreviations
  • Exhibit 88: List of abbreviations