Smart Parking in India

Introduction to Smart Parking

Traffic congestion caused by vehicle is an alarming problem at a global scale and it has been growing exponentially. Car parking problem is a major contributor and has been, still a major problem with increasing vehicle size in the luxurious segment and confined parking spaces in urban cities. Searching for a parking space is a routine (and often frustrating) activity for many people in cities around the world. This search burns about one million barrels of the world’s oil every day. As the global population continues to urbanize,without a well-planned, convenience-driven retreat from the car these problems will worsen.

SmartParking systems typically obtains information about available parking spaces in a particular geographic area and process is real-time to place vehicles at available positions .It involves using low-cost sensors, real-time data collection, and mobile-phone-enabled automated payment systems that allow people to reserve parking in advance or very accurately predict where they will likely find a spot.

When deployed as a system, smart parking thus reduces car emissions in urban centers by reducing the need for people to needlessly circle city blocks searching forparking. It also permits cities to carefully manage their parking supply Smart parking helps one of the biggest problems on driving in urban areas; finding empty parking spaces and controlling illegal parking.

Need and benefits of smart parking

Smart Parking would enable the following

•        Accurately predict and sense spot/vehicle occupancy in real-time.

•        Guides residents and visitors to available parking.

•        Optimize Parking Space Usage

•        Simplifies the parking experience and adds value for parking stakeholders, such as drivers and merchants

•        Help traffic in the city flow more freely leveraging IOT technology.

•        Enables intelligent decisions using data, including real–time status applications and historical analytics reports

•        Smart Parking plays a major role  in creating better urban environment by reducing the emission of CO2 and other pollutants

•        Smart Parking enables better and real time monitoring and managing of available parking space

·         resulting in significant revenue generation

•        Provides tools to optimize workforce management

Smart Parking Work Flow Structure

Below is the structure of the process of operating and managing the smart parking infrastructure.

Smart Parking

 

 Potential market Landscape

The rapid growth in the number of vehicles worldwide is intensifying the problem of the scarcity of parking space. Again according to industry data, 30% of traffic congestion occurs due to vehicle drivers struggling to find parking space. These in turn are magnifying the necessity of smart and efficient parking systems. Today’s intelligent parking management systems are capable of providing extreme level of convenience to the drivers, as well as simplifying and automating the business operation and administrative functions of the parking site owners.

The high growth rate in the registration of new cars worldwide, with major boom from regional economies such as Asia Pacific (APACE), will open the window of opportunities for parking management business. The ongoing and upcoming smartcity projects worldwide will create room for the intelligent parking management systems. The global parking management industry is expected to grow at a Compound Annual Growth Rate (CAGR) of 11.4% from 2014 to 2019.

The parking management market is estimated to be at $5,025.9 million in 2014. The market is expected to grow in tandem with the growth in vehicle ownership and parking facilities development. Need for smooth traffic flow, business benefits to the parking site operators, and decreasing hardware and connectivity costs are the key drivers for the parking management industry.

Challenges and major pain points

The major challenge in Parking Systems is of system integration due to wide variety of hardware and software platforms involved and hence possess a great threat or concern to the system scalability. The technology platform comprises of a myriad of hardware sensors, dynamic messaging systems and traffic control devices, wireless and wire line telecommunications systems, computer clients and servers and hardware drivers and application interfaces.

Enabling all these devices from thousands of different vendors to communicate and tying them together into one platform is the greatest challenge in reducing the cost and complexity of smart parking. The variety of infrastructure hardware and software systems that need to intent grated is enormous and add Smart Parking in India to it the conventional older hardware making investment in Smart Parking solution highly risky and fragmented. 

Another major challenge is to face the electronic payment vendors. These payment processors provide permit based electronicpayment, typically for a convenience fee. The key to many of these hosted solutions is scalability, the ability of the transaction processorto support over wide geographical, market and service areas, with minimal cost http://axykno.com/Infrastructure.php