Revolutionize Parking with IoT: Smart Solutions for Efficient Parking Management
The Internet of Things (IoT) refers to the network of physical objects that are embedded with sensors, software, and other technologies for the purpose of connecting and exchanging data with other devices and systems over the internet. The IOT based parking system is a centralized management system that allows drivers to use a smartphone app to search for and reserve a parking spot.
How does IoT Powered Parking Management work– Parking systems are installed on the outside and inside of buildings. The sensor installed detects its presence while entering space. Through sensors, systems can collect real-time data about which parking lot is vacant and which ones are occupied. Both parking lot managers and car owners can benefit from the available information to streamline and effectively utilize parking spaces, meanwhile also optimizing the time and money spent.
Current challenges faced by driver while parking– Research has shown that most cars search for parking spots for around 3.5 to 14 minutes, amounting to a loss of around 470 to 1870 hours looking for parking. This extra time spent on looking for a parking spot leads to increased consumption of fuel, hence increased negative environmental impact. Due to the lack of parking spaces, drivers park inappropriately, resulting in greater traffic congestion and overcrowded parking spaces. Lack of patience and being unaware of parking slot availability results in insufficient utilization of parking spaces.
The global smart parking systems market is worth USD 6.5 billion in 2022 and it’s expected to reach USD 30.16 billion by 2030 with a CAGR of 22.1%.
Applications of IOT powered parking management are-
Benefits of Smart Parking Management
Saves Money– According to USA Today, 35% of the general commute time is spent looking for a space to park, suggesting searching for parking spaces contributes to loss of productive time and money. Automated systems can enable automatic gate opening, saving time and more cost-effective than employing attendants at parking gates.
Less Traffic Congestion– IoT-powered smart parking enables businesses to simplify and speed up the parking process, making an unpredictable exercise predictable, eliminating the guesswork that goes into finding that parking space.
Make Accurate Predictions– By using connected software, traffic flows and parking routes can be analysed. This information can be used to help airports, hospitals, and malls to better plan for sudden surges.
Example of Smart Parking Management
LoRa Application– Semtech’s technology enables management of parking resources over public or private networks. It provides a cloud-based management system and a network of vehicle occupancy sensors. Making use of wireless radio frequency, IOT devices make commercial and municipal parking spaces into “smart lots”.
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Conclusion
The growing population and income of people around the world and lack of parking spaces in urban centres have led to frustrated drivers who spend huge amounts of time finding an available parking space. Companies with the help of IOT devices and parking management software are providing solutions to provide better visibility for both drivers and owners of parking spaces, hospitals, airports and offering better methods to identify idle parking spaces, saving them time, energy, and money. It brings automation, IOT devices and advanced technologies, reducing the need for human intervention. Other advantages include improved safety and solutions for monitoring and alerting to traffic law violations.
Author: Abhishek Saini
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