The New Essential 8: Technologies to Consider When Developing Your Future Parking Technology Strategy
8 min read
Published on Parking Industry Insights
Author: Emmanuel Lereno, Chief Digital Transformation Officer
In the ever-evolving landscape of technology, businesses are constantly seeking innovative solutions to enhance efficiency, meet operational objectives, and fulfill customer needs. The parking and mobility industry is no different, with many emerging technologies poised to redefine standard parking interactions. These advancements promise to usher in a new era where the parking experience is an interconnected, user-friendly, and seamlessly integrated aspect of our daily lives.
Now more than ever, parking operators, facility managers, and owners alike must adapt their parking technology strategies for the future. Below are eight essential technologies to consider.
1. Artificial Intelligence (AI)
Artificial Intelligence is increasingly becoming a game-changer in the parking industry, revolutionizing how we manage and optimize parking spaces. AI-driven algorithms can analyze historical data, predict peak usage times, and adjust pricing or allocate resources accordingly. From gated parking automated ticketing systems to intelligent surveillance for security, AI enhances the efficiency of parking operations while providing a seamless experience for customers.
2. Internet of Things (IoT)
The Internet of Things (IoT) is crucial in creating smart parking ecosystems. IoT sensors, such as parking guidance systems, can monitor parking space availability, traffic flow, and environmental conditions. By collecting and analyzing this data in real time, parking management systems can dynamically adapt to changing circumstances, optimizing the utilization of parking spaces and improving overall operational efficiency.
3. Blockchain
Blockchain technology brings transparency and security to parking transactions. Implementing blockchain in parking systems can streamline payment processes, reduce fraud, and provide an immutable ledger of all transactions. Storing customer information transparently in the blockchain fosters customer relationships in the long term by offering personalized services. This facilitates quicker and more secure payments and builds trust with the brand, benefitting both operators and customers.
4. Augmented Reality (AR)
Augmented Reality transforms the customer experience in parking facilities. From assisting drivers in finding available spaces through AR navigation to providing real-time information about parking regulations and fees, AR adds an interactive and informative layer to the parking experience. Integrating AR into parking solutions can improve customer satisfaction and operational efficiency.
5. Virtual Reality (VR)
Virtual Reality can be leveraged in the planning phases of parking facility design. Using VR simulations, packing facility owners can visualize and optimize parking layouts and traffic flow before physical implementation. It can streamline the design process and be efficient while allowing various stakeholders to experience the parking facility in advance and provide feedback on its experience and accessibility.
6. Advanced Robotics
Integrating advanced robotics in parking facilities can automate various processes, from accessing the parking facility at the entrance and exit with License Plate Recognition (LPR) to virtual customer support services. Robotics can significantly reduce the need for human intervention, lowering operational costs and minimizing the risk of accidents. By leveraging robotic technologies, parking facilities can enhance efficiency and provide a cutting-edge experience for customers.
7. Quantum Computing
While still in its infancy, quantum computing holds tremendous potential in parking and mobility, particularly in handling complex optimization problems. Quantum algorithms can process vast amounts of data from sensors and monitoring systems, predicting maintenance requirements almost in real time before critical failures occur. Quantum computing's machine learning acceleration improves the accuracy and speed of systems in analyzing parking patterns, predicting demand, and providing dynamic pricing models.
8. Neuromorphic Computing
Inspired by the human brain's architecture, Neuromorphic computing is gaining traction for its ability to process information like human cognitive functions. This technology can be employed in parking systems for advanced image recognition, enabling more accurate and rapid identification of vehicles, license plates, and even potential security threats.
Parking management's future lies in strategically integrating these cutting-edge technologies. Those who embrace these innovations are poised to create parking solutions that are both efficient and future-proof. As the parking industry continues to evolve, those who invest in these essential technologies will undoubtedly shape the smart and connected parking facilities of tomorrow.
References
Gao, S., Möller, T., Mohr, N., Pastré, A., & Ziegler, F. (2023, September 13). Gearing up for Mobility’s future with quantum computing. McKinsey & Company. https://www.mckinsey.com/industries/automotive-and-assembly/our-insights/gearing-up-for-mobilitys-future-with-quantum-computing
Ierullo, D. (2023, June 29). Future opportunities for parking management in the metaverse - precise ParkLink: Parking management services. Precise ParkLink | Parking Management Services. https://www.preciseparklink.com/news/future-opportunities-for-parking-management-in-the-metaverse
Igor. (2024, January 6). Parking made easy: Ai car parking manager robot. AI Profit. https://aiprofitpilot.com/parking-made-easy-ai-car-parking-manager-robot/
Lashuk, A. (2020, June 4). 7 reasons to implement blockchain for car parking. OpenLedger Insights. https://openledger.info/insights/blockchain-car-parking/
Neuromorphic Computing: Smart environments that respond to ... - accenture. Accenture Labs. (2021). https://www.accenture.com/content/dam/accenture/final/a-com-migration/r3-3/pdf/pdf-147/Accenture-Neuromorphic-Computing-Smart-environments-that-respond-to-your-gestures.pdf