10 Benefits of a Smart Parking Solution for Corporate Enterprises

Editorial Team

Benefits of a Smart Parking Solution

ITS America’s Market Study estimates that around 30% of urban congestion is caused by automobiles looking for a parking place. Furthermore, it results in daily oil waste of about one million barrels. This ever-increasing traffic congestion, coupled with the unpredictability of parking availability and price, has necessitated the implementation of smart parking systems. A smart parking technology assists in optimizing parking space use, enhancing the effectiveness of parking operations, and facilitating traffic flow.

Finding a parking place in the city is the most stressful maneuver for motorists. This is, however, changing as smart solutions are implemented. First, let’s examine the issues with conventional parking.

Conventional parking issues confronting drivers

Growing urbanization and rising automobile ownership have increased the need for safe parking spots. The rising number of automobiles on the road negatively impacts drivers’ parking experiences. Under the conventional parking system, drivers incur significant financial, productivity, and time losses when searching for parking places in heavily crowded locations.

Thus, traditional parking systems can’t provide drivers with a seamless parking experience and lower parking search traffic on the roadways. This demonstrates the logic for employing new technologies to modernize the urban transportation system and alleviate drivers’ difficulties.

Smart parking system

Benefits of a Smart Parking Solution

Smart parking is one of the most widely used and rapidly expanding smart city solutions worldwide. Some examples of organizations that have begun to see the considerable benefits of automated parking technology are

  • Airports
  • Universities
  • Retail complexes
  • Civic garages

IoT-enabled and -described capabilities to connect, analyze, and automate data collected from devices are what make smart parking feasible. The technology used for smart parking is similar to the one used for fleet management.

Is fleet maintenance similar to smart parking

For logistics companies, fleet maintenance and smart parking go hand-in-hand. A solid, sustainable fleet preventive maintenance strategy is essential for fleet upkeep. In addition to maximizing uptime and extending vehicle lifespan, maintaining the fleet safeguards the security of the assets on the road.

What exactly is a smart parking system

A parking reservation system offers answers for urban transportation due to digitization. Using the IoT and sensor technology, it’s a system that enables the collection of real-time data on parking availability, both inside and out, as well as traffic and road conditions.

Why do you need smart parking systems

Smart parking is now the most popular smart city program. Smart parking programs are undertaken in several cities worldwide to reduce traffic and parking issues. It is considered the low-barrier option because of its simple

  • Installation
  • Scalability
  • Effectiveness
  • Adaptability

It’s ideal for modern cities that seek to provide inhabitants with possible advantages while embracing the power of IoT.

Since the number of cars in densely populated cities continues to increase at an astonishing rate, smart parking solutions have become a need. According to the study undertaken for the Green Car report, the number of cars on the road are estimated to climb to 2 billion by 2035, resulting in an even more crowded parking environment and roadways. It underscores the necessity for implementing smart parking systems in every city.

An advanced and smart parking solution minimizes traffic on the roads and prevent cars from becoming stranded in locations owing to a lack of space. With the assistance of real-time data shown on interactive screens or mobile apps, drivers quickly locate accessible parking places. 

The objective of a smart parking system

The fundamental objective of a smart parking solution is to recognize the presence or absence of a vehicle in a specific parking space with a high degree of accuracy. It  transmits this information to a system for visualization and analysis – to be made accessible to parking asset managers and law enforcers.

A smart parking system must possess the following characteristics to achieve these goals:

1.   Smart parking maps

Existing capabilities on your devices, such as Google Maps, offer real-time traffic information and the probability of finding parking in these regions. Similar services and maps provide more up-to-date details as you reach your goal.

2.   Smart signage

Smart technologies are also being incorporated into road sign systems to increase safety and better coordinate pedestrian and vehicular traffic. Crosswalks and traffic signals, for instance, are programmed to adapt their illumination and hues to actual or predicted peaks in pedestrian and vehicle traffic.

3.   Smart sensors for automobiles

Smart parking helps to know the exact number of cars in a parking lot at any given point. The sensors determine whether

  • a parking spot is vacant or filled
  • a parking garage is at capacity
  • the precise position of automobiles

4.   Sensors that identify occupied parking spaces

Due to the introduction of LED indications, drivers are able to determine how many parking spots are accessible, with red or green light signals indicating whether the space is occupied or vacant.

Benefits of smart parking solutions

Smart parking systems often use lifts that resemble standard elevators, except they move cars rather than humans. With this technology, many commercial buildings and businesses are changing how traditional parking structures work. This is a fad for a good reason. Continue reading to discover ten significant advantages of smart parking systems for logistic management and why so many organizations are adopting these systems.

1.   Increase the number of available parking spaces at your company.

Smart parking solutions, such as vehicle lifts, enhance the number of parking places in front of your business. Stack parking and elevators exploit vertical space underutilized by many conventional parking concepts. With smart parking systems, double or even quadruple the parking space in your lot or structure.

Extra parking space often alleviates several problems for your consumers and your business. Secondly, your parking lots fill less often, preventing consumers from being turned away by a shortage of space. This results in more revenue for your company and less consumer unhappiness. 

2.   More smart parking system

Smart parking systems, using contemporary technology, ease parking for everyone. While using a parking lift, drivers often pull up, exit their automobiles, and let the machine park them. This results in less traffic and less time spent parking automobiles. Customers save time and energy getting to and from your store and enjoy the added convenience of the improved parking situation. 

3.   Parking solution cost-effective for enterprises

While smart parking enhancements involve investment and implementation, they quickly recover their expenses with cost-efficient parking choices. Technology-based parking solutions, such as car lifts, last longer than conventional parking structures and need fewer care and repairs, which saves money. This is a significant improvement compared to ordinary asphalt parking lots and concrete buildings, which sustain a great deal of wear and tear and require regular care.

4.   Encourage eco-friendly parking

More and more customers are looking for companies committed to environmental responsibility while purchasing. With smart parking systems, your business embraces more eco-friendly practices. By lowering car traffic in parking garages, smart parking helps cut CO2 emissions.

Due to the absence of consumer foot activity, businesses tend to spend less energy illuminating every corner of these modern parking buildings. In addition, smart parking structures decrease the toxic oils and chemicals produced by automobiles, which are often drained and deposit in the environment. 

5.   Improved security

The use of smart parking solutions improves security, making the area more comfortable for everyone who visits or works there. Car stacking systems reduces instances of theft, assault-related injuries, and other crimes. Also, the lower traffic in your parking garage results in fewer collision-related incidents and injuries.

6.   Real-time parking management

Install smart parking systems with several technical innovations that simplify tracking parking. Some smart parking systems use sensors and security cameras to identify when a parking garage is full. It lets you inform consumers that the garage is complete before they seek to enter, resulting in fewer problems and irritation for everyone involved. Use the technology to track parking patterns, the number of daily consumer visits, and repeat consumers.

7.   Possibility of parking garage monetization

Find new ways to monetize parking for your business when using a smart parking system. Using smart parking assists in managing monetization if you weren’t previously charged for parking or require a mechanism to simplify parking payment. This system also enables the management of parking incentive programs for repeat buyers and the experimentation with new revenue models.

8.   Improved enforcement of parking regulations

Smart parking technology facilitates monitoring compliance with parking laws and regulations by companies. For instance, automated parking structures prevent overparking by detecting when the building is complete and refusing to admit other vehicles. It discourages consumers from parking unsafely or illegally in your lot. Also, you can check who has paid for parking and who still needs to while using a parking garage that requires payment.

9.   Promotes a contemporary and smart business

Implementing smart technology in your parking garage tends to inspire your corporation to adopt technological developments throughout. Modernizing the parking lot is only one technique to get a more efficient and current company strategy. Updating your firm with cutting-edge technology helps you become more productive in areas where other companies struggle, therefore attracting new clients.

10.   Many smart parking alternatives

Lastly, a further advantage of smart parking systems is that a system is available on the market to accommodate virtually every organization. Find a parking system that fits your needs, whether you want one that is semi or fully-automatic.

Smart parking technology optimizes parking space use

The world population continues to expand and urbanize. Hence, it’s crucial to establish a well-planned, convenience-focused parking solution that is implemented internationally.