Space-Saving Parking System Aims to Solve Urban Congestion – and Electrify It

Seoul, South Korea – October 28, 2025 – As global cities grapple with ever-increasing vehicle ownership and dwindling space, innovative solutions are needed to address the growing parking crisis. Autech-Otis Parking Systems, a South Korean joint venture with elevator giant Otis, is betting its next-generation ‘XY’ parking system will be a key part of the answer. Unveiled this week, the system promises to maximize parking density while seamlessly integrating electric vehicle (EV) charging infrastructure – a strategic move as cities push towards electrification.

For decades, the fundamental challenge of parking has remained largely unchanged: fitting as many vehicles as possible into a limited footprint. Autech-Otis’s XY system, named for its chess-like movement of vehicles in both horizontal and vertical directions, claims to significantly improve upon existing mechanical parking solutions. The company asserts a capacity increase of up to 50% compared to conventional systems – a potentially game-changing proposition for dense urban areas.

“The core issue isn’t just finding a parking space, it's optimizing the land we have,” explains a parking consultant familiar with the technology. “Traditional systems rely on ramps and aisles, wasting valuable space. This type of automated system can dramatically increase capacity within the same footprint.”

A Domestic Leader Eyes Global Expansion

Founded in 2016, Autech-Otis has quickly become a leading provider of mechanical parking systems in South Korea, capturing approximately 35% of the domestic market. This success is built on decades of accumulated expertise in mechanical engineering and a deep understanding of the unique challenges faced by Korean cities. Now, the company is turning its attention outward, targeting rapidly growing megacities in the Middle East, Southeast Asia, and Europe.

“We’ve spent years perfecting this technology in one of the most densely populated urban environments in the world,” says a representative from Autech-Otis. “We’re confident we can adapt it to meet the needs of other cities facing similar challenges.”

Riding the Wave of Electrification
The timing of the XY system’s launch is no coincidence. With global EV sales surging, cities are scrambling to build out charging infrastructure. Autech-Otis has cleverly integrated both AC and DC fast charging capabilities directly into its parking system, offering a convenient and scalable solution for EV owners.

“Integrating charging into parking structures is a logical step,” says an industry analyst specializing in EV infrastructure. “It provides a captive audience for charging and helps alleviate ‘range anxiety’ – a major barrier to EV adoption.” The system’s modular design allows for easy upgrades and expansion of charging capacity as demand increases.

Disrupting a Crowded Market
The global smart parking market is projected to reach $7.5 billion by 2023, with a projected CAGR of over 10% through 2030. While established players like ParkMobile and Cleverciti dominate the digital parking space, Autech-Otis is positioning itself as a disruptor with its focus on space-efficient hardware. However, it’s not without challenges.

“The market is competitive,” notes a mobility consultant. “Autech-Otis will need to demonstrate a clear return on investment and overcome potential concerns about installation costs and maintenance.”

The company appears to be aware of these concerns. “We’re not just selling a product, we’re offering a complete solution,” says the Autech-Otis representative. “Our team provides design, installation, and ongoing maintenance services to ensure a seamless experience for our clients.”

Beyond Parking: A Vision for Smart Cities

While the XY system is primarily focused on addressing the parking crisis, Autech-Otis sees it as a stepping stone towards a broader vision of smart cities. By integrating parking infrastructure with EV charging and other smart city technologies, the company hopes to create more sustainable, efficient, and livable urban environments.

“Parking is just one piece of the puzzle,” says the representative. “We believe that smart parking can play a vital role in creating a more connected and sustainable future for our cities.”

Early Implementations and Future Outlook
The XY system has already been deployed in several pilot projects in South Korea, with promising results. Early adopters report significant improvements in parking efficiency and user satisfaction. Autech-Otis is now actively seeking partnerships with cities and developers in other regions to expand its reach.

“We’re confident that our technology can make a real difference in solving the parking crisis and creating more sustainable cities,” concludes the Autech-Otis representative. “We’re excited to see what the future holds.”

Whether Autech-Otis’s ambitious vision will come to fruition remains to be seen. However, its innovative parking system offers a compelling solution to a growing urban challenge – and a glimpse into the future of smart mobility.