The increasing demand for efficient transportation solutions leads to constant urban evolution. In 2021, the smart parking sensor technology market recorded figures of 957,000 units. Smart parking enabling IoT connectivity addresses issues of congestion, pollution, and the frustration of finding parking spaces in busy cities. Let's go through how IoT devices and technology change the parking experience for both drivers and city planners.

IoT Devices and Hardware for Smart Parking

The IoT smart parking ecosystem is currently represented by the following hardware leaders:

The IoT connectivity tech components include chipsets, modems, modules, gateways, SIM cards manufactured by:

Overcoming Parking Shortage and Traffic Congestion

• Challenge

  Urban areas face severe parking shortages and traffic congestion due to inefficient parking space utilization. According to Transforma Insights, Europe faces a shortage of 400,000 parking spaces, while China struggles with an estimated deficit of 80 million.

• Solution

  IoT-enabled parking sensors detect available parking spaces and provide real-time data to drivers via mobile apps. With the help of monitoring specific spaces using short-range or wide-area connectivity or other technologies like RFID, ANPR cameras, and cellular communications, it is possible to track parking garage entrances.

  Find more details in the Berg Insight article.

  Payment Convenience and Revenue Optimization

• Challenge

  Traditional parking payment methods are often tedious, leading to delayed departures and lost revenue for parking operators.

• Solution

  IoT-based payment kiosks and mobile apps enable cashless, contactless payments, enhancing the user experience and increasing revenue collection efficiency.

  Emission Reduction with IoT Connectivity

• Challenge

  Cruising for parking contributes to traffic congestion and in its turn - increased CO2 emissions, which is at least 28 million tons of CO2 emissions every year.

• Solution

  Long-range technologies like Wi-Fi, Bluetooth, Zigbee, long-range (Nb-IoT, LTE-M), and various cellular technologies (2G, 3G, 4G, 4G) enable real-time updates on parking status for drivers, operators, and companies. This has already shown at least 2% CO2 emissions reduction only in Europe.

  More data is available in the Transforma Insights report.

Predictive Maintenance and Cost Reduction

• Challenge

  Traditional parking equipment often suffers from unexpected breakdowns, resulting in costly repairs and downtimes.

• Solution

  Connected IoT devices monitor the health of parking equipment and send maintenance alerts in advance. This proactive approach reduces maintenance costs and ensures uninterrupted parking services.

City Planning and Infrastructure Expansion

• Challenge

  Cities struggle to plan and expand parking infrastructure efficiently due to limited data.

• Solution

  IoT smart parking systems and wireless IoT connectivity provide valuable data on parking utilization, helping city planners make informed decisions. This data-driven approach optimizes parking infrastructure, reducing wasted resources and supporting sustainable urban development.