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Automotive, automation, ITS and telecom industries are showing great interest in the smart parking market as part of a broader smart city and the Internet of Things (IoT) strategy.
You will soon be able to pre-book your parking slot for your Saturday evening shows a week in advance. Digital payment options will open smart parking and electric vehicle (EV) charging gates with a single click.
As per a Research & Markets report, the global smart parking market is going to increase from 4.9 billion dollars in 2018 to 11.6 billion dollars in 2024.
The parking industry is expected to grow as a smart and green industry with the commoditization of new technologies 7 (especially, in the IoT/M2M/V2X space).
As the larger parking ecosystem matures into an integrated landscape, many of the routine operations are expected to migrate into in-car systems with parking apps, thereby alleviating the burden of deploying parking systems. It consists of the following features:
By reserving a park in advance, people can plan their commute knowing they have a spot. They’ll arrive on time, stress-free, and ready to work. Plus, people with an allocated parking spot can share it with others when they don’t need it, so more people can park easily on-site.
Parking operators save valuable administrative time and are empowered to make informed decisions with a platform that automatically:
With a car park management system that’s flexible, you can easily manage all kinds of parking. Plus, as your organisation changes, so can your car park.
For organisations wishing to charge for parking, Parking management software can facilitate easy payments, and automatic revenue payments are sent monthly.
The future seems to be quite promising for smart parking systems. Technologies lying behind this solution are IoT, Artificial Intelligence, Machine Learning, Augmented Reality–the same ones that are driving digital transformation for businesses under the “Industry 4.0” term. Leveraging these innovations, Parking 4.0 will increase parking systems efficiency by solving urbanization challenges.
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