S. Korean parking solutions company to develop autonomous valet parking robots 

By Kim Joo-heon Posted : April 9, 2024, 17:05 Updated : April 9, 2024, 22:27
Courtesy of
[Courtesy of Autech-Otis Parking Systems]

SEOUL, April 09 (AJU PRESS) - South Korea's Autech-Otis Parking Systems has embarked on the development of autonomous valet parking robots that would prevent accidents and alleviate congestion in crowded parking areas, such as large shopping malls. When a vehicle is randomly parked near the entrance of a parking garage, robots will automatically place it into a car elevator.

Autech-Otis said on Monday that its valet parking robots are scheduled to be commercialized in the second half of 2025. The company plans to create a prototype by the third quarter of 2024 and demonstrate the robot's ability to lift both the front and rear wheels of a vehicle and move it into a parking spot.
These parking robots will utilize artificial intelligence to navigate efficiently while carrying a vehicle. "With the adoption of parking robots in large parking lots, drivers no longer need to search for empty spaces," an Autech-Otis official said in a statement. The spokesperson also noted that the system can help reduce illegal parking. 

Autech-Otis is cooperating with the state-run Korea Advanced Institute of Science & Technology (KAIST) on the valet parking system. The project is an initiative led by the Korea Institute of Energy Technology Evaluation and Planning affiliated with South Korea's industry ministry.

According to market research firm VynZ Research, the global robotic valet parking market is projected to reach $4.26 billion by 2030 from $2.19 billion in 2023. 
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