Recent Industry Newsletter

Recently, news in the garage door industry has mainly focused on the following aspects:
1. Industry development status
Market growth: According to data from the Smart City Network, the market size of China’s smart parking industry has exceeded 24 billion yuan in 2023. This data is significantly higher than the 15.6 billion yuan in 2020, indicating the rapid growth of the industry in recent years.
Technological development: Smart parking technology is gradually becoming popular, and its application has covered major cities in China. Technological advancements, including automatic vehicle recognition and electronic toll collection, have greatly improved parking efficiency and resource utilization.
Enterprise participation: In the market, there are not only professional parking equipment suppliers, but also diverse participants such as security equipment suppliers, information technology enterprises, and comprehensive solution service providers, making market competition increasingly fierce.
2. Policy background
National Policy: Since 2015, the country has issued multiple policies to strengthen the construction of urban parking facilities, promoting the development of the smart parking industry. These policies emphasize the importance of intelligent parking systems and create a favorable development environment for the industry.
Strategic goal: The National Development and Reform Commission has proposed strategic goals for the construction of smart parking systems by 2025 and 2035, aiming to achieve efficient utilization and intelligent management of parking resources through technological innovation and widespread participation of social capital.
3. Operation mode
Asset model: The asset operation model of the smart parking industry is mainly divided into two types: light asset and heavy asset. Heavy asset companies provide comprehensive hardware and software solutions, while light asset companies focus on improving the utilization efficiency of existing parking resources through technological development.
In summary, the garage door industry, especially in the field of smart parking, is undergoing rapid development and transformation. With the continuous growth of car ownership and the intensification of urban parking difficulties, smart parking technology provides effective solutions. Driven by market demand and policy support, it is expected that this industry will continue to maintain a rapid development trend in the future. For enterprises and individuals engaged in related fields, this is an era full of opportunities and challenges.