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Automated Parking Assist Will Drive Car OEM's Parking System Revenues to US$11 Billion in 2030

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ABI Research

16 Sep, 2021, 08:00 GMT

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Meanwhile, the autonomous valet parking opportunity will remain subdued until 2029

LONDON, Sept. 16, 2021 /PRNewswire/ -- According to ABI Research, a global tech market advisory firm, SAE L2 automated parking assist - enabling self-parking with the driver outside the vehicle but still in control remotely - will gain higher traction from 2026 and drive car OEM revenues for parking systems to reach US$11 billion in 2030. Meanwhile, the market opportunity for SAE L4 Autonomous Valet Parking (AVP) - allowing vehicles to park and be summoned without the presence of a driver - will remain subdued in the consumer segment until the end of this decade.

"Considered the easiest to accomplish L4 functionality, due to its low speed and constrained Operational Design Domain (ODD), AVP still has many challenges to overcome before achieving scale in the consumer market, including vehicle localization and environment sensing, regulation, and consensus concerning minimal infrastructure requirements. Therefore, OEMs are heavily investing in L2 automated parking assist that allows for immediate monetization and potentially offers an upgrade opportunity to L4 autonomy in sophisticated deployments with high computing capacity," explains Maite Bezerra, Smart Mobility & Automotive Analsyt at ABI Research.   

While parking assist (warnings only) and semi-automated parking assist (autonomous steering) will still account for over two-thirds of parking systems in new vehicles in 2030, L2 automated parking assist will be responsible for 59% of revenues. Automated parking assist will become a standard feature in the next decade as the technology becomes more widely accepted. Besides monetization opportunities within the current legal framework, these systems will also help develop and train algorithms for AVP deployment and potentially scale to L4 autonomy via OTA updates, as with Steer's solution.

The AVP solutions available today are based on infrastructure intelligence – rather than vehicle sensors – and sit within a highly constrained environment (e.g., the partnership between Bosch, Mercedes, and APCOA in Stuttgart Airport). Despite the minimal vehicle requirements, this deployment strategy will not scale in the consumer vertical due to high installation and maintenance costs per unit and no ROI prospects. "However, it has found a solid B2B business case in car manufacturing plants to move newly produced vehicles from one production point to the next, replacing actual drivers and reducing risks of damage," Bezerra notes. Nevertheless, infrastructure-based AVP demos featured at the IAA 2021 Mobility Show suggest that the industry is not close to identifying a common technology standard.

ABI Research expects an AVP deployment based on vehicle intelligence to be the most solid path to market in the consumer vertical. "Nevertheless, minimum infrastructure requirements still must be in place. That includes drop-off/pick-up zones and the ability to stop all maneuvers in emergencies. Additionally, unless vehicles can self-map parking garages through onboard sensors, relying on drivers' willingness to scan the parking garage before using AVP, tools to support localization with centimeter-level precision (e.g., artificial landmarks or HD maps) must be available," Bezerra concludes.

These findings are from ABI Research's Parking Assistance and Autonomous Valet Parking Systems application analysis report. This report is part of the company's Smart Mobility & Automotive research service, which includes research, data, and ABI Insights. Based on extensive primary interviews, Application Analysis reports present in-depth analysis on key market trends and factors for a specific technology.

About ABI Research
ABI Research provides actionable research and strategic guidance to technology leaders, innovators, and decision makers around the world. Our research focuses on the transformative technologies that are dramatically reshaping industries, economies, and workforces today. ABI Research's global team of analysts publish groundbreaking studies often years ahead of other technology advisory firms, empowering our clients to stay ahead of their markets and their competitors.

ABI Research提供开创性的研究和战略指导,帮助客户了解日新月异的技术。 自1990年以来,我们已与全球数百个领先的技术品牌,尖端公司,具有远见的政府机构以及创新的贸易团体建立了合作关系。 我们帮助客户创造真实的业务成果。 

For more information about ABI Research's services, contact us at +1.516.624.2500 in the Americas, +44.203.326.0140 in Europe, +65.6592.0290 in Asia-Pacific or visit www.abiresearch.com.

Contact Info:                                                 

Global                                
Deborah Petrara                                 
Tel: +1.516.624.2558                             
pr@abiresearch.com   

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