Smart Parking is one of the most adopted and fastest growing Smart City Solutions across the world. Airports, universities, shopping centers and city garages are just a few entities that have begun to realize the significant benefits of automated parking technology. The ability to connect, analyze and automate data gathered from devices, powered by and described as the Internet of Things, is what makes smart parking possible.
Smart Parking involves the use of low cost sensors, real-time data and applications that allow users to monitor available and unavailable parking spots. The goal is to automate and decrease time spent manually searching for the optimal parking floor, spot and even lot. Some solutions will encompass a complete suite of services such as online payments, parking time notifications and even car searching functionalities for very large lots. A parking solution can greatly benefit both the user and the lot owner. Here are some of the top benefits:
- Optimized parking – Users find the best spot available, saving time, resources and effort. The parking lot fills up efficiently and space can be utilized properly by commercial and corporate entities.
- Reduced traffic – Traffic flow increases as fewer cars are required to drive around in search of an open parking space.
- Reduced pollution – Searching for parking burns around one million barrels of oil a day. An optimal parking solution will significantly decrease driving time, thus lowering the amount of daily vehicle emissions and ultimately reducing the global environmental footprint.
- Enhanced User Experience – A smart parking solution will integrate the entire user experience into a unified action. Driver’s payment, spot identification, location search and time notifications all seamlessly become part of the destination arrival process.
- New Revenue Streams – Many new revenue streams are possible with smart parking technology. For example, lot owners can enable tiered payment options dependent on parking space location. Also, reward programs can be integrated into existing models to encourage repeat users.
- Integrated Payments and POS – Returning users can replace daily, manual cash payments with account invoicing and application payments from their phone. This could also enable customer loyalty programs and valuable user feedback.
- Increased Safety – Parking lot employees and security guards contain real-time lot data that can help prevent parking violations and suspicious activity. License plate recognition cameras can gather pertinent footage. Also, decreased spot-searching traffic on the streets can reduce accidents caused by the distraction of searching for parking.
- Real-Time Data and Trend Insight – Over time, a smart parking solution can produce data that uncovers correlations and trends of users and lots. These trends can prove to be invaluable to lot owners as to how to make adjustments and improvements to drivers.
- Decreased Management Costs – More automation and less manual activity saves on labor cost and resource exhaustion.
- Increased Service and Brand Image – A seamless experience can really skyrocket a corporate or commercial entities brand image to the user. Whether the destination is a retail store, an airport or a corporate business office, visitors will surely be impressed with the cutting edge technology and convenience factors.
As evidence of just these top ten benefits, the implementation of a smart parking solution would surely be a great investment for any city government or company. Our current parking inefficiencies are evident by the fact that there are about four parking spaces per vehicle in the United States, and we still can’t find a spot! As the global population continues to grow and urbanize, it is vital to implement a well-planned and convenience-driven parking solution that can be utilized globally.