Automated Parking System (APS) Market Size Analysis, Drivers, Restraints, Key Factors Forecast, 2021-2026
iCrowd Newswire
09 Jul 2021, 07:12 GMT+10
The Automated parking system (APS) market was valued at USD 1.21 billion in 2018 and is projected to witness a growth of 12.4% of CAGR during the forecast period (from 2018 – 2026). The major drivers of the growths are – Increasing number of vehicles, lesser land for parking, growing demand for green & sustainable parking solutions, strong demand for consumer comfort and convenience, increasing demand for high-rise building, and smart cities initiatives from the government.
The research study comprises of vital information focusing on major market trends and estimated revenue growth rate. Additionally, the report highlights the market competition including the portfolios and strategic alliances and endeavors of the key competitors. It focuses on the mergers and acquisitions, joint ventures, partnerships, collaborations, product launches, brand promotions, and agreements, among others. The report also offers key insights about top companies in the market along with their company overview, business expansion plans, financial standing, production and manufacturing capacity, and global position.