4 Technologies to Consider When Developing Your 2025 Parking Technology & AI Strategy
15 min read.
Published on Parking Industry Insights
Author: Emmanuel Lereno, Chief Digital Transformation Officer, Precise ParkLink
As we begin 2025, parking operations are being transformed by innovative technologies that streamline processes, enhance user experiences, and maximize profitability. From IoT-enabled solutions to dynamic pricing models, crafting a forward-looking parking technology and AI strategy is essential for staying competitive in this rapidly evolving industry.
Below are four key technologies to consider.
IoT and Integrative Solutions: Connecting the Dots
The Internet of Things (IoT) revolutionizes parking systems by enabling real-time communication between devices, parking infrastructure, and management platforms. IoT-based sensors can monitor space availability, occupancy rates, and environmental conditions, providing a data-rich environment for informed decision-making. Integrative solutions combine these IoT insights with other platforms, such as payment systems, enforcement tools, and mobile applications, creating a seamless ecosystem that enhances efficiency and user satisfaction.
Benefits of IoT and Integrative :
Real-time parking space tracking
Improved traffic flow and reduced congestion
Enhanced operational visibility
Mobile Payment Platforms: Convenience at Your Fingertips
Mobile payment platforms have become a must-have for modern parking facilities. These platforms allow customers to locate parking, pay on-the-go, and even extend their parking sessions from their smartphones. Parking facility managers can boost customer retention and satisfaction by integrating mobile payment systems with loyalty programs or promotions.
Key features to consider:
Multiple payment options, including digital wallets
Notifications and reminders for session expiration
Integration with parking enforcement for seamless management
License Plate Recognition (LPR): Efficient and Contactless Parking
License Plate Recognition (LPR) technology offers a contactless and efficient parking experience by automating access control and payment processes. LPR systems use AI to read vehicle plates, granting access or initiating payment without needing tickets or physical interaction. This technology also improves security by tracking vehicle movements and streamlining enforcement.
Applications for License Plat Recognition (LPR):
Gated entry and exit points
Automated fee collection
Enhanced security monitoring
Dynamic Pricing: Optimizing Revenue
Dynamic pricing uses AI and historical data to adjust parking rates based on demand, time of day, or special events. This flexible pricing model maximizes revenue and helps distribute demand, preventing overcrowding in prime parking areas. By leveraging dynamic pricing tools, parking facility managers can incentivize off-peak usage and better accommodate high-demand periods.
Examples of dynamic pricing applications:
Lower rates for early-bird customers
Increased pricing during large-scale events
Real-time adjustments for fluctuating demand
Automation and Measuring Performance: Data-Driven Efficiency
Automation in parking management is a cornerstone of an effective 2025 strategy. From automated gated to AI-powered analytics, these systems streamline operations and reduce manual intervention. Equally important is the ability to measure performance. Key Performance Indicators (KPIs) like occupancy rates, average duration stay, and revenue per space can provide actionable insights, enabling operators to fine-tune their strategies.
Tools to incorporate:
AI dashboards for real-time analytics
Predictive modelling for resource allocation
Automation of routine tasks like ticketing and fee collection
Developing a parking technology and AI strategy in 2025 requires adopting these technologies and ensuring their integration into a cohesive system. It’s important to focus on the user experience, operational efficiency, and data-driven insights to create a parking environment that meets the evolving needs of customers and organizations alike.
With IoT connectivity, AI-driven tools, and customer-centric platforms, the parking industry is poised for unprecedented transformation. By strategically implementing these technologies, you can position your operation at the forefront of innovation in 2025 and beyond.
References
Banyard, P. (2024, October 29). What you need to set your paid parking program up for success in 2025 - precise ParkLink: Parking management services. Precise ParkLink | Parking Management Services. https://www.preciseparklink.com/news/what-you-need-to-set-your-paid-parking-program-up-for-success-in-2025
O’Donovan, A., & Garret. (2024, August 2). The evolution of workplace parking: Predictions for 2025. Wayleadr. https://wayleadr.com/blog/the-evolution-of-workplace-parking-predictions-for-2025/
Parking Industry. (2024, September 6). The new essential 8: Technologies to consider when developing your future parking technology strategy. Parking Industry. https://www.parkingindustry.ca/parking-technology/the-new-essential-8-technologies-to-consider-when-developing-your-future-parking-technology-strategy