How Much Will Smart Parking Solutions Improve in 2019?

Not all of us are as fortunate as Al Jourgensen to get good parking spots every time. On the contrary being late to every meeting or commitment has become an unspoken curse in big cities. Even if you reach the place 10 minutes early, finding an empty parking spot would take almost 20 minutes. This search burns about one million oil barrels of the world every day. There are some ways to solve this problem and improve a part of energy and fuel crisis. Smart parking solutions are on the rise thanks to trending IoT technology.

Parking Problems That People Face

General Parking Problems

· Insufficient parking space in heavily populated areas.

· Inefficient use of existing parking capacity.

· Struggle to find an open parking slot in a large parking space.

· Confusion in finding your vehicle in a large parking lot.

· Traffic problems created due to poorly designed parking spaces.

· Waste of fuel and other resources in searching for a parking space.

Corporate Parking Problems

· Economic losses due to time wasted in parking.

· Company’s building parking getting overfilled with visitor’s vehicles.

Public Parking Problems

· Some Parking spaces are inconvenient to use.

· Inadequate parking price models.

Event Parking Problem

· Lack of sufficient parking at event places.

· Proper allotment of Handicapped parking spaces.

Private Parking Problem

· Environmental and health problems due to excessive fuel exhaustion.

· Damages caused to vehicles in hassled parking scenarios.

Rent Parking Problem

· Private empty parking spaces going unused.

· Confusing parking policies.

Latest technology trend: Smart Parking Solutions

After making your phones and homes “smart”, many companies are innovating with smart car Parking Solutions. How many times have you struggled to find a parking spot in your office building or at an event? It is a common and irksome problem that wasn’t addressed till now but is being talked a lot this year.

Innovative and perfect parking solutions are the first and important step in the right direction. Many megacities like Beijing, Los Angeles, Dubai, San Francisco, and New York are piloting new and trending parking solutions. These smart car park systems work on low-power sensors and smart meters to track the occupancy or availability of parking spots.

What is Smart Parking Solution?

It’s an IoT-based device that gives you a signal about which parking slot is open and which is occupied. The IoT devices are fixed on each parking slot from where it sends a signal to a nearby receiver which in turn gives you a continuous live update about the availability of all the slots. The collected data will be used to broadcast parking information to a parking guidance system and smartphone app for drivers.

Besides the location of the parking space, the drivers will get information like the size of the parking space and even nearby public transportation information if the suggestion is needed. So, gone are the days of roaming around the blocks in search of one parking slot; just open your app and easily locate empty parking spaces.

Benefits Of Smart Parking Solutions

If you are also mesmerized by the potential of this business startup then here are the advantages of automated car parking systems to boost your confidence in this startup idea.

Corporate Parking

Corporate firms lose a more than acceptable amount of money from employees getting late due to parking issues. Employees can check available parking spots in the building from their mobile app.

Private Parking

If someone parks at your home or office parking spot then you’ll get an immediate update on your phone. With IoT garage door, you can open and close the garage at anytime from anywhere.

Public Parking

Public places are the worst suffering from parking issues. Setting up an online parking space rental service near parks, museums, stadiums is a profitable business model.

Rental Parking

If an individual owns a parking space in a prime location of the city then they can start an online parking space rental startup using our IoT Parking solution.

Event Parking

If you own a convention space where often events happen then a smart parking solution will be a lifesaver for every event hosted at your property. Your visitors can use an event parking app to find out the live available parking spot and also book the spot in advance.

Why is Smart Parking Solution a great idea for a startup?

Parking is a very common problem in Metropolitan cities.

· Searching for parking costs Americans $73 Billion annually.

· 30% of traffic is created in searching for parking spaces.

· Germany gets the highest number of parking fines a year amounting to €380 million.

If private and government firms install this system in their buildings, parking problems would become a thing of past.

Who Can Benefit From Smart Car Parking Solutions?

Besides the general public of the city that will access these facilities, there are many stakeholders that will benefit by integrating these innovative parking ideas. Entities like:

· Corporate builders

· Private plot owners

· Startup investors

· Private Companies

· Government buildings

· Mall owners

· Convention center owners

What Is The Future Of Smart Parking Systems?

The future of all technologies is personalization, the same goes for smart parking system. Many metropolitan and smart cities have begun to discover how to tailor their parking solutions according to specific requirements to the actual individual needs of each city’s infrastructure and people. For instance, Dubai has integrated portable multi-level parking structures to increase the number of cars parked in a small space. With smart meters, people don’t need to come back to repay for extra time but just pay their additional parking time fee remotely from the parking meter app.

Conclusion

The key to a perfect parking solution is in making complete use of current technologies available like IoT, Big Data, Machine Learning, and Cloud Technology. The smart parking industry is still evolving and soon will come to its golden age and if you wish to be a part of this age with your smart parking startup, now is the time. You got to find the right team of trustworthy developers that will turn your startup into a successful business enterprise.

How Much Will Smart Parking Solutions Improve in 2019? was originally published in Hacker Noon on Medium, where people are continuing the conversation by highlighting and responding to this story.