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Robotic and Smart Parking System Market Is Relied Upon To Achieve An Estimation Of US$ 221.59 Million By 2025

Research N Reports offers latest published report “Robotic Parking System Market - Global Insights, Growth, Size, Comparative Analysis, Trends and Forecast, 2017-2025”. The author of the report analyzed that the Global Robotic Parking System Market accounted for US$ 51.46 million in 2016. 

The growing preference for smart parking is one of the primary trends behind the growth of this market. Due to the convenience caused by growing traffic and inadequate parking space, vendors are now progressively focusing on providing robotic parking systems to customers. The market’s growth will be further triggered by the deployment of innovative sensor technologies and inventions in wireless communications, induction loops, data analytics, and smart parking meters. Vendors are optimizing smart parking systems by incorporating sustainable solutions along with focusing on air quality, energy consumption, and others. The forecast period is likely to witness more developers focusing on meeting the accepted benchmarks for the design, construction, and operation of buildings and more LEED-certified buildings which accomplish high energy and cost savings.

With scarcity in parking spaces and appreciating land prices across the globe, vendors in the Global Robotic Parking Systems Market are introducing new products that are cost-efficient and can optimize parking spaces. The market is led by automated and semi-automated parking systems, which use mechanical systems to move cars into parking spaces. In the past couple of years there has been an upsurge in the adoption rate of robotic parking systems.

AGVs with peripherals segment is expected to account for the major share of the global market in the forecast period.

The AGVs with peripherals segment of the Global Robotic Parking Systems Market alleged for the foremost revenue and subjugated this market in the previous years. Increasing focus on safety and cost-effectiveness guarantee that this segment will overlook the market during the study period. The peripherals used with AGVs comprise transfer stations, elevators, software systems, and automated terminals for producing tickets which bear the cost of better services to the clients.

Commercial segment is anticipated to dominate the global market.

The commercial segment led the market owing to the augmented number of public parking spaces, old office spaces, car rental companies, hotels, and restaurants selecting these systems. Features such as insufficient parking spaces in large establishments that have an immense number of workers and the requirement for effective parking subsidize to the growth of this segment. Besides, the minimum cost required

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A finance technology background person who has an experience of more than 10 years, right now leading the team. An expert in the field of finance and business. A helping person with leadership quality, assisting his team in getting the work done and target achieved. In his spare time, he likes to keep himself involved in the events going around related to his field