Digital Twin Smart Parking Garage Market Forecasted to Achieve US $3.33 Billion by 2029

Digital Twin Smart Parking Garage Global Market Report 2025

The Business Research Company's Digital Twin Smart Parking Garage Global Market Report 2025 – Market Size, Trends, And Global Forecast 2025-2034

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How Big Is The Digital Twin Smart Parking Garage Market In 2025?
The size of the digital twin smart parking garage market has seen a considerable increase over the recent years. It envisions a surge from $1.12 billion in 2024 to $1.40 billion in 2025, with a compound annual growth rate (CAGR) of 24.6%. The substantial growth during the historic period is due to the escalating use of automated parking systems, increased expenditure in smart transport infrastructure, heightened awareness around solutions to traffic congestion, increased utilization of sensor-based vehicle control, and an intensified emphasis on curbing urban traffic pollution.

In the forthcoming years, the market size of the digital twin smart parking garage is envisaged to experience phenomenal growth, projected to reach $3.33 billion in 2029 with a compound annual growth rate (CAGR) of 24.2%. This projected growth within the prediction period could be attributed to various factors such as an increased emphasis on predictive analytics for parking demand, a surge in the use of AI-enabled parking optimization, the escalating integration of autonomous vehicles in garages, further investment in environmentally friendly parking solutions, and heightened implementation of real-time occupancy tracking. Key trends predicted for the forecast period encompass advances in AI-supported parking management, enhanced digital twin simulations for predictive upkeep, expansion of EV-charging-compatible parking infrastructure, breakthroughs in interoperable digital twin platforms, and collaborations between public-private sectors and green infrastructure bonds.

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What Are The Key Driving Factors For The Growth Of The Digital Twin Smart Parking Garage Market?
The digital twin smart parking garage market is forecasted to expand due to the growing number of vehicles. Cars, trucks, buses and other modes of transportation, which serve the primary role of transferring people and goods from one location to another, are witnessing an upward trend. This escalation is primarily due to increased income levels, leading to a higher reliance on personal vehicles for routine travel. Digital twin smart parking garage aids vehicles by offering a real-time virtual representation of the parking area, allowing drivers to find available spaces with speed. This results in a reduction in searching time, decrease in traffic congestion, and provision of a safer and more efficient parking environment. For example, in March 2025, data from the European Automobile Manufacturers' Association, a Belgian trade association, showed that global car sales reached 74.6 million units in 2024, indicating a 2.5% increase from 2023. Thus, the burgeoning number of cars is a key factor driving the expansion of the digital twin smart parking garage market.

Who Are The Key Players In The Digital Twin Smart Parking Garage Industry?
Major players in the Digital Twin Smart Parking Garage Global Market Report 2025 include:
• Robert Bosch GmbH
• Siemens AG
• Swarco AG
• Kapsch TrafficCom Aktiengesellschaft
• SKIDATA AG
• Nederlandsche Apparatenfabriek N.V.
• PTV Planung Transport Verkehr GmbH
• Scheidt & Bachmann GmbH
• Q-Free ASA
• INRIX Inc.

What Are The Prominent Trends In The Digital Twin Smart Parking Garage Market?
Leading companies in the digital twin smart parking garage industry have turned their attention towards the creation of innovative solutions such as integrated smart vertical parking systems, aiming to resolve urban parking issues. The integrated smart vertical parking system is a digitized, multi-layer parking solution that effectively stores, monitors, and manages vehicles in city settings. For instance, China Construction Engineering Corp., a Chinese firm specializing in construction engineering, announced an integrated smart vertical parking system in July 2025. This system is equipped with EV charging and is tailored to address typical problems in vertical parking garages like parking difficulties, the dearth of charging facilities, and inefficiency. The system employs sophisticated technology, such as AGV and RGV parking robots, charging robots, charging stations, and mechanical vertical parking garages. Cars are driven into a transition area where a robot picks up and transports the vehicle to a charging spot; following charging, it is automatically parked in the vertical garage. Car owners can reserve their vehicle using a smartphone app, with robots retrieving and delivering the car as needed, offering a smooth smart parking and charging experience ideal for residential communities, business centers, hospitals, and self-driving car environments.

What Segments Are Covered In The Digital Twin Smart Parking Garage Market Report?
The digital twin smart parking garage market covered in this report is segmented
1) By Component: Software, Hardware, Services
2) By Deployment Mode: On-Premises, Cloud
3) By Technology: Internet Of Things (IoT), Artifical Intelligence (AI) And Machine Learning, Big Data Analytics, Other Technologies
4) By Application: Commercial Parking, Residential Parking, Public Parking, Other Applications
5) By End-User: Airports, Shopping Centers, Hospitals, Corporate Offices, Other End-Users

Subsegments:
1) By Software: Parking Management Platforms, Simulation And Modeling Tools, Data Analytics And Visualization Solutions, Integration And Application Programming Interface Software
2) By Hardware: Sensors And Detectors, Cameras And Surveillance Systems, Networking And Connectivity Devices, Edge Computing Devices
3) By Services: Consulting And Advisory Services, System Integration And Deployment, Maintenance And Support Services, Training And Education Services

View the full digital twin smart parking garage market report:
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Which Region Is Expected To Lead The Digital Twin Smart Parking Garage Market By 2025?
In 2024, North America dominated the global digital twin smart parking garage market. However, by 2025, the Asia-Pacific region is projected to experience the most rapid growth. The comprehensive report additionally includes data from regions such as Western Europe, Eastern Europe, South America, the Middle East, and Africa.

Browse Through More Reports Similar to the Global Digital Twin Smart Parking Garage Market 2025, By The Business Research Company

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