Automated Parking Systems Market to grow by USD 2.33 billion between 2022 and 2027, Increasing urbanization to Drive Growth - Technavio [Yahoo! Finance]
IHI CORP UNSP/ADR (IHICY)
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Source: Yahoo! Finance
NEW YORK Jan. 24, 2024 /PRNewswire/ -- The Automated Parking System (APS) Market is estimated to grow at a CAGR of 16.15% between 2022 and 2027 and the size is forecast to increase by USD 2.33 billion , according to Technavio's latest research report estimates. This report offers an up-to-date analysis regarding the current scenario, the latest trends and drivers, and the overall environment. Increasing urbanization is the key factor driving the growth. As urbanization intensifies globally, cities grapple with a surge in population density, creating a pressing demand for parking facilities. Inadequate parking exacerbates issues like traffic congestion, prolonged commutes, and environmental hazards such as air pollution and CO2 emissions. Advanced Parking Solutions (APS) and similar innovative solutions emerge as responses to these challenges, aiming to alleviate commute durations, mitigate traffic congestion, and enhance environmental sustainability. More details on Market size and
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