Market Research Future (MRFR) has reported that the Smart Parking Market is expected to reach a value of USD 19.25 billion by 2028, with an impressive CAGR of 20.77%. With growing traffic congestion, pollution, and land use problems, parking is becoming increasingly challenging in both developed and developing countries. Installing an IoT-based smart parking system has been identified as one of the most effective ways to address these issues.

 

What is Smart Parking?

 

A Smart Parking Solution is a revolutionary automated system that utilizes cutting-edge IoT sensors, transmitters, and security cameras to collect and analyze parking data. This innovative technology not only enables efficient tracking and utilization of available parking spaces but also optimizes parking operations, reduces traffic congestion, and enhances overall mobility in cities. With its fully integrated, real-time, and flexible capabilities, Smart Parking Solutions offer a game-changing approach to resolving parking and traffic-related challenges. Furthermore, Smart Parking is a simple yet effective way to promote sustainability, making it an ideal solution for cities worldwide.

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Challenge

 

Street navigation technology has been a helpful tool in finding our way around, but it fails to address the issue of finding suitable parking spaces at our destinations. This is just one of the many problems posed by the persistent disregard of prohibition signs by car drivers, which presents a serious threat to public safety. When emergency vehicles need swift access, parking violations can obstruct their path, leading to potentially life-threatening consequences. Unfortunately, the lack of an efficient system to deal with parking offenders only exacerbates this issue, wasting valuable time that could be better spent addressing emergencies.

 

Adding to the problem is the limited capacity of existing rest areas during peak times and at night, which creates a parking shortage and leads to parking violations in adjacent areas. This results in road safety hazards, increased pollution, and accumulation of garbage, creating an unsanitary environment. Furthermore, search traffic by trucks with container trailers compounds the problem by adding to road safety risks. The lack of adequate parking spaces and information for truck drivers about available parking locations only contributes to the issue, leading to unnecessary search traffic and compounding the existing problems.

 

Solution

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Our team has come up with a solution to enhance the parking experience while also mitigating the environmental impact. We propose the installation of waterproof, battery-powered occupancy sensors in every parking lot. This system will provide real-time sensor data accessible via a dedicated app and webpage, enabling users to navigate, filter, and reserve parking spots in advance. By utilizing this system, users will experience reduced stress and frustration while searching for parking, and it will substantially decrease emissions caused by the search for free parking spots.

 

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