Technologies are changing how we live, even in fields that appear to have well-defined procedures. Public parking services may appear simple enough, but a closer examination uncovers numerous obstacles for both drivers and parking operators, ranging from the difficulty of finding an available parking spot in a busy location to issues with convenient and secure payment methods.
The Internet of Things (IoT) offers enormous promise to solve these problems.
Read more: Top Benefits of Implementing Smart Parking Solutions in Cities
In an era where technology is transforming every aspect of our lives, the parking industry is also undergoing a significant revolution. The integration of digitization and advanced technologies has paved the way for energy-efficient solutions that address the pressing challenges of urban congestion and environmental sustainability. These innovations are reshaping the future of urban mobility, and taking the industry in a far more environmentally-friendly direction. As cities grow and vehicles increase, traditional systems for parking struggle to cope with the demand. However, digitization offers a transformative solution by leveraging technology to optimize operations, improve user experience, and reduce energy consumption.
Read more: How digital innovation leads to energy-efficient parking
Automated Parking Management Systems Market: Integrated Solutions Streamlining Traffic Movement
Parking has always been at best a stress-ridden activity and at worst a chaos for drivers. Receding urban spaces on one hand and the burgeoning numbers of cars on the other have overburdened the commercial parking infrastructure. The parking management system itself has been struggling for reducing the hassle, where utilization of available spaces is an ever-increasing challenge. Maneuvering in small spaces as well getting a parking space has been debilitating concern for proponents of smart city infrastructure. In this backdrop, the trend of automation in parking management has picked up steam to address several of the problems. A number of hardware, software, and slew of services have flooded the marketspace. Automated parking management systems market projections find that the valuation was pegged at US$ 2.23 Bn in 2020
Read more: Automated Parking Management Systems to Pave Way to Connected Mobility
The global smart parking market is projected to reach $23.56 billion by 2030, according to ResearchAndMarkets.com. In the era of technological advancements, smart parking systems are gaining popularity as a crucial component of the smart city concept.
Smart parking systems integrate sensors and software to modernize the administration of parking spaces. By providing real-time occupancy information and dynamic pricing, these systems enable drivers to easily locate available parking spots, reducing traffic congestion and improving air quality. Additionally, the data-driven management decisions facilitated by smart parking systems augment revenue and contribute to various transportation and developmental initiatives.
Read more: Smart Parking: A Lucrative Opportunity for Entrepreneurs
Cities, colleges, and private businesses will benefit from the eXactpark solution, from eleven-x, which will give real-time parking data to optimize revenues and offer new capabilities.
Smart Parking is one of the most widely used and rapidly expanding Smart City solutions worldwide. Airports, universities, shopping malls, and public garages are just a few examples of businesses that have begun to see the value of automated parking technology. eleven-x, a leading provider of wireless IoT solutions, introduces eXactpark, its newest sensor-based smart parking solution. This game-changing creative solution will assist municipalities, campuses, and private businesses in increasing revenue, lowering costs, and providing a positive driving experience. The patent-pending, real-time stall occupancy sensor from eleven-x’s is a critical enabler for better understanding how parking assets are used and providing new capabilities to improve operations.
Read more: eleven-x’s New Smart Car Parking System to Help Improve Parking Operations