Industry Overview
The Global Robotic Valet Parks Market was valued at USD 2.19 Billion in 2023 and is projected to register a 10.87% CAGR to top a valuation of USD 4.26 Billion by 2030 during the forecast period from 2025 to 2030.
Now-a-days citizens inevitably combat traffic congestion on a daily basis, due to influx of vehicles on the road. This is because of the lack of parking infrastructure and shoot up of vehicle to human population ratio. The Robotic Valet Parking System uses the robotic valets, which are the vehicle carriers and parks the vehicles compactly in a given space of the parking area once the driver loads his vehicle at the loading bay. Robotic Valet Automated Parking System (APS) provides solution for the parking problems without the need for special construction for automation. The robotic valet APS requires concrete flooring, which provides the fire separation, builders consider it approvable. The number and the position of the occupied vehicles can be determined without the operation of the sensors in each of the parking slots. The vacancy of the parking garage is displayed on the LCD screen which is of benefit to the costumer. The central processing unit wirelessly controls the locomotion of robotic valets and the arrangement of vehicles in the parking area. This system has proved the space efficiency, accuracy, operational speed, safety and cost effectiveness of the proposed parking. On producing the parking slip at the exit the robotic valet automatically retrieves the vehicle to the customer.
Market Segmentation
Insight by Component Type
Based on component type, the Global Robotic Valet Parks Market is bifurcated into software and hardware. The hardware components segment dominated the market as it will include the robot as well as the dedicated parking lots for scanning. The software that is needed to control the robots is of equal importance, even though the main work of lifting the vehicles and parking them will be done majorly by the valet robots. The software component also includes the mobile platform for the customer.
Insight by Application Type
On the basis of application type, the Global Robotic Valet Parks Market is bifurcated into commercial and residential parking. The commercial parking segment held the largest market share and is anticipated to dominate the market during the forecast period. The constant increase in vehicles on roads has elevated the demand for parking areas in commercial buildings and shopping malls.
Insight by Automation level
On the basis of automation level, the Global Robotic Valet Parks Market is classified into fully automated and semi automated. Rising innovative city projects across the world are fueling the demand for fully automated parking systems over the forecast period. Technological opportunities help to meet parking demands ranging from conventional ramp parking to fully automated type.
Global Robotic Valet Parks Market Report Coverage
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Report Metric
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Details
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Historical Period
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2018 - 2023
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Base Year Considered
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2024
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Forecast Period
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2025 - 2030
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Market Size in 2023
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U.S.D. 2.19 Billion
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Revenue Forecast in 2030
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U.S.D. 4.26 Billion
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Growth Rate
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10.87%%
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Segments Covered in the Report
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By Component Type, By Application Type, and By Automation Level
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Report Scope
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Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Companies’ Strategic Developments; Market Share Analysis of Key Players; Company Profiling
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Regions Covered in the Report
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North America, Europe, Asia-Pacific and Japan, Latin America and Middle East & Africa (MEA)
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Industry Dynamics
Growth Drivers
The concept of robotic valet park is very new to the market which is the major growth driver of this market. The growing number of smart city projects is also another growth driver of Global Robotic Valet parks market. It can be implemented in many airports around the world where thousands of passengers face the issue of car parking. Valet Robot will also provide great source of revenue for the Airports. Moreover, the increasing adoption of AI technology is anticipated to boost the growth of the market.
Restraints
Major challenge for Robotic Valet Park Market in the foreseeable future is the parking of self-driving cars which will drop off the owner and then park themselves in the dedicated parking lots. It is expected to the Valet Robot systems to be designed in such a way that they can tackle this issue in the coming years when there will be autonomous cars everywhere. Another restraint for this market is the initial investment which is required to construct high quality parking systems than the traditional ones.
Geographic Overview
- North America
- Europe
- Asia-Pacific and Japan
- Latin America
- Middle East and Africa (MEA)
The Global Biologics Drug Discovery Market is segmented into North America, Europe, Asia Pacific& Japan, Latin America and Middle East and Africa. Europe dominates the market in terms of value, due to increased vehicle sales, latest technologies, cloud technologies adoption and digital platform.
Key Players Covered in the Report
Key market players of The Global Robotic Valet Parks Market are Stanley Robotics, Applied & Integrated Manufacturing, Inc., Skyline Parking AG, FATA Automation, Inc., Robotic Parking Systems, Inc., Dayang Parking Co. Ltd., Smart City Robotics, CityLifts India Ltd, Westfalia Technologies, Inc., EITO&GLOBAL INC.
Recently, MOSOLF, a leading technology and logistics service provider in the international automotive industry and Stanley Robotics started a first test project together , 1000 storage locations for finished vehicles have been managed completely automatically on a 3-hectare site using 4 robots. This project will demonstrate the performance of the system in managing inbound and
outbound vehicle flow, delivery time, responsiveness, real-time inventory management, compound visualization and time savings for truck drivers.
Lately, FATA Automation has been awarded a material handling project for Gallagher Kaiser at the General Motors San Luis Potosi Paint Shop in Mexico. This project allows for the plant to produce two-tone paint on the bodies of the Chevrolet Equinox and GMC Terrain crossovers. FATA Automation, a global leader in the supply of skid conveyor modules and systems, will be providing a turn-key system that will incorporate power roll beds, power roll stands, eccentric lift roller pop-up tables, cross transfers, and process conveyors including dual-strand and mini flat-top designs for production, paint and oven operations.
The Global Robotic Valet Parks Market report offers a comprehensive market segmentation analysis along with estimation for the forecast period 2025–2030.
Segments Covered in the Report
By Component Type
By Application Type
- Commercial parking
- Residential parking
By Automation Type
- Fully automated
- Semi automated
Regions Covered in the Report
North America
Europe
Asia-Pacific and Japan
- China
- Japan
- India
- South Korea
- Malaysia
- Philippines
Latin America
- Brazil
- Rest of Latin America
Middle East & Africa (MEA)
- GCC
- North Africa
- South Africa
- Rest of the Middle East & Africa
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Source: VynZ Research
