GLOBAL LEVEL 4 AUTOMATED PARKING SYSTEM MARKET
INTRODUCTION
A Level 4 automated parking system is a particular kind of parking system that automates the parking procedure using cutting-edge technology.
In a Level 4 system, the car can drive itself to a predetermined parking location without assistance from a person. Compared to Level 2 and Level 3 autonomous driving systems, which still require a human driver to be present and prepared to take over in an emergency, this is a major improvement.
Sensors, cameras, and mapping technologies are frequently used in Level 4 automatic parking systems to guide and park the car. While deciding where to park the vehicle, the system may also employ artificial intelligence (AI) and machine learning algorithms to analyse data from the sensors and cameras.
Finding a parking space in congested places may be time-consuming and frustrating. Level 4 automated parking systems can assist alleviate this problem. Also, because they can maximise parking space utilisation and lessen the need for cars to circle around in search of a place, these systems may serve to lessen traffic congestion and enhance general traffic flow in urban areas.
Though they have not yet been widely implemented, Level 4 automated parking systems are still in the development phase. Like with any new technology, there might be difficulties to be solved, such as assuring the system’s dependability and safety, coping with unforeseen circumstances, and adhering to numerous laws and standards.
GLOBAL LEVEL 4 AUTOMATED PARKING SYSTEM MARKET SIZE AND FORECAST
Global Level 4 automated parking system market accounted for $XX Billion in 2022 and is anticipated to reach $XX Billion by 2030, registering a CAGR of XX% from 2023 to 2030.
NEW PRODUCT LAUNCH
Working together to create Level 4 fully automated parking technology is BMW Group and Valeo. Infrastructure-based services will also be jointly developed so that enabled public parking facilities and sites can experience completely automated parking and pricing.
The businesses have inked a contract for strategic collaboration that will centre on creating a next-generation, high-end parking user experience for patrons of private lands and parking facilities. According to a press release from the companies, all functions, from Automatic Manoeuvre Assistance to Level 4 Automated Valet Parking, will rely on technology and automobile sensors.
Throughout the course of the partnership, more than 100 R&D specialists from both businesses will work together to develop these automated parking solutions.
The program’s features are based on the current automated parking software stack, which was introduced in 2021 alongside the BMW iX. It will be further enhanced in the following generation by a potent computing infrastructure hosting the collaboratively created algorithms.
COMPANY PROFILE
THIS REPORT WILL ANSWER FOLLOWING QUESTIONS
- How many Level 4 automated parking system are manufactured per annum globally? Who are the sub-component suppliers in different regions?
- Cost breakup of a Global Level 4 automated parking system and key vendor selection criteria
- Where is the Level 4 automated parking system manufactured? What is the average margin per unit?
- Market share of Global Level 4 automated parking system market manufacturers and their upcoming products
- Cost advantage for OEMs who manufacture Global Level 4 automated parking system in-house
- key predictions for next 5 years in Global Level 4 automated parking system market
- Average B-2-B Level 4 automated parking system market price in all segments
- Latest trends in Level 4 automated parking system market, by every market segment
- The market size (both volume and value) of the Level 4 automated parking system market in 2023-2030 and every year in between?
- Production breakup of Level 4 automated parking system market, by suppliers and their OEM relationship
