How many times have you tried to find a free parking spot on your way to work or home, but couldn’t? We think this is annoying, right? But don’t worry—there are ways to fix parking problems.

The global smart parking systems market is estimated to reach $48.3 billion by 2033, growing at a CAGR of 19.3%. Smart parking is a new way to help people find parking spots quickly. It uses sensors and cameras to check which spots are empty, helping drivers park without wasting time searching for parking spots.

Also, parking managers can use smart parking systems and make a better use of parking spaces. They can also change the prices depending on how many people need parking. This helps them earn more money and run parking lots more efficiently because cars park and leave faster. Further, city planners can use the data from these systems to help make cities smarter. They can manage resources and reduce traffic problems.

Benefits of a Smart Parking System

Here are a few benefits of a smart parking system:

Less worry for drivers: Finding a free parking spot can be hard and annoying. But smart sensors and cameras connected to the internet make it easier. These cameras watch many parking spaces at once and tell you which spots are free or full. So, if you see all spots are taken, you can quickly find another place to park instead of driving around and wasting time.

Save time and fuel: Apps that show free parking spots use special sensors and cameras in parking areas. These sensors check if a car is in a spot or not and send this information to the app right away over the internet. The app then updates and shows drivers which spots are open or full. This way, drivers can find free parking quickly without driving around.

Better parking control: People who manage parking lots can see what is going on from any place. This helps them make good choices, like closing a parking lot if no one is using it or opening a new one where many people need parking. This helps cities and businesses spend their money wisely.

More income for parking owners: Real-time information helps parking managers plan well and make their services better. They can also change prices when it is busy, so they can earn more money when many spots are full.

Less pollution: When drivers find parking quickly, they don’t need to wait or keep driving. This helps reduce traffic jams near parking spots.

Less traffic jams: When drivers find parking fast, they don’t have to wait or drive around. This helps stop traffic jams near parking places.

Easy payment: With smart parking, drivers can pay with an app on their phone. This makes paying fast and easy, so parking is simple and without problems.

More safety: Cameras in smart parking lots help managers watch the area. They check license plates to know who comes and goes, making the parking lot safer.

Types of Smart Parking Solutions

In this section, let us discuss the various types of smart parking solutions based on the location of the sensor:

Ground Sensor Technology: Ground sensors are put inside parking spaces to detect if a car is parked there. They are great for small and medium parking lots where checking each spot is useful. These sensors give real-time and accurate information about which spaces are free or taken. This information can be shown on signs or phone apps to help drivers find parking quickly.

Counter Technology: Counter technology uses gates and sensors to count the number of vehicles entering and leaving a parking lot. It is beneficial in locations in which controlling access is essential and in which you want to know how many parking spots are available. Counter technology helps control the parking area effortlessly and guarantees that the space is used properly.

Camera-based Technology: Sensors and cameras placed above parking areas monitor numerous parking spots all at once. They help figure out which spots are empty and which ones are occupied. This information is then sent to drivers, making it easier for them to find a parking spot fast and save time.

IoT-based Solutions:IoT smart parking uses sensors to check which parking spots are free or taken. This helps parking managers see how the spaces are being used and decide the best prices. These systems can be set up in different parking areas and can grow bigger to make managing parking easier.

How Much Does It Cost to Build a Smart Parking Solution?

The cost to develop a smart parking solution varies widely depending on the features, technology, and scale you want. Here’s a simple breakdown:

Basic Apps: Basic smart parking apps show you parking locations on a map and tell you if spots are open. The cost to develop basic apps ranges between $20,000 to $30,000 or more.

More Advanced Apps: If you are looking to develop more advanced, then you might want to add advanced features such as real-time updates, the ability to book spots online, user reviews, and a user-friendly design can increase the cost. The cost to develop an advanced app ranges between $30,000 to $50,000.

IoT-Enabled Systems: If you want to use sensors in parking lots to automatically check if a spot is free or occupied, then the cost can range from $35,000 to $40,000 or more.

Highly Customized and Large-Scale Solutions: For very large projects that use artificial intelligence (AI), complicated math formulas, and lots of hardware, the cost can be $100,000 or more – sometimes even up to $250,000 or more.

What Affects the Cost?

Several factors influence the final price:

Features: The more complex the features (like AI predictions or sensor integration), the higher the cost.

Design: A simple design costs less, while a highly polished, user-friendly design can add significantly to the budget.

Technology Stack: When you include things like smart devices (IoT), online storage (cloud), artificial intelligence (AI), and connections between apps (APIs), it can make the project more expensive. 

Maintenance: After your system is up and running, you’ll also need to plan for regular updates, fix any problems, and pay for the servers that keep everything working smoothly.

Final Word

Smart parking systems are becoming popular in many cities today. They help drivers find empty parking spots quickly. This saves time and makes parking easier. Smart parking systems reduces traffic jams as fewer cars drive around looking for parking, making roads safer and reduce accidents.

So, if you want to develop a smart parking system for your business, jiWebTech is here to help. Our team understands your requirements and then designs the best plan to fit your goals. So, what are you waiting for? Get in touch with us today, we’re here to support you every step of the way.