Amano Mcgann’s Brief Guide on Future of Parking

The first thing that pops in our mind when we sit in our car to go to work is the idea that we may not find the parking space in time.

It is high-friction experience for most drivers. It does not matter if it involves hunting for the curbside opening, circling the block or rushing to vacate the space you found, because it can get stressful.

Since technology allowed us to reduce the hassle when it comes to numerous daily activities from paying bills to shopping, the parking still resisted the idea of technological advancement in the last few years.

You should check Amano parking solutions on the link we shared with you, so that you can determine what will happen next. It is vital to remember that the help is coming right ahead, and the experience will change significantly due to latest business models and technologies.

You can probably think a few ways this innovation will change, for instance, by implementing Internet of Things for additional connectivity and possibility to increase overall visibility.

However, long-term trends will include the emergence of autonomous vehicles and shared mobility that can change the demand as well as infrastructure of parking industry.

Some parking businesses decided to add latest technology so that they can create innovative solutions that will regulate supply, demand as well as customer requirements.

In all these cases, you should know that in the world of parking industry, the changes has to happen in the next few years because we have high demand and low supply of technologically advanced parking yards.

How Does Parking Industry Function Currently?

In the USA, parking market is consolidated and stable, and it generates approximately thirty billion dollars in parking revenues on annual basis. The industry involves a wide array of players including parking operators that manage facilities and plan necessary technology and staff.

Everything depends on location, fee type, as well as real estate type. Remember that most local governments will provide public parking facilities and lots, but the goal is to completely privatize this particular sector.

You should click here to learn more about parking in general.

However, due to lack of transparency when it comes to pricing and availability, the consumer frustration is reaching the peak especially due to economic crisis and problems we live in.

For instance, averagely Americans tend to spend 17 hours per year searching for an empty space, which leads up to $400 expense for wasted emissions, fuel and time. These expenses tend to increase in overpopulated areas.

That is why people in New York tend to spend more than hundred hours per year and up to $2500 in expenses that are connected with it. This particular problem affects the local businesses as well as customer traffic.

Therefore, most cities across the U.S. tend to seek ways to ensure sufficient spaces to meet both visitors’ and customers’ needs, which will ultimately reduce the number of vehicles on streets.

Parking operators can implement wide array of technological solutions that can help them improve the convenience for customers and increase overall profit. Most of them are aimed at helping drivers find the closest lot, while they can also pay online.

For instance, rental-car and airline industries have found ways to use data to create demand-planning algorithms, which will help them plan ahead. The main problem is that parking operators have not adopted the standard when it comes to these issues.

Innovative Solutions

As time goes by, the future of this particular industry will have to adapt and upgrade because that is the only way to manage demand and optimize supply.

Check out this link: https://www.wikihow.com/Park-in-a-Parking-Lot to learn how to park properly.

We will present you the current developments and what we can expect in the future.

1. Value-Add Services

When it comes to management firms and real estate companies that operate parking facilities, they would need to maximize their competitive advantage by adding additional services to the current lots.

We are talking about enhanced security features, electric-vehicle charging stations, as well as automated parking that use lifts and sensors to place cars with ease. Finally, they should implement vehicle maintenance and service additions so that they can charge a premium.

2. Space Management

Telematics as well as data analytics can create process that will completely match vehicles with their particular spots, which will depend mostly on demand and supply.

For instance, one Spanish company has implemented an automated parking solution in Germany for Audi’s factory that features more than 40 thousand employees.

This particular innovation uses sensors to detect which vehicles are entering and leaving the parking sector. Afterward, the system will calculate the occupancy data and provide real-time information through digital displays to the closest space with an idea to reduce congestion.

Other cities such as Florida and Jacksonville have implemented sensors as well as mobile apps so that drivers can find empty spaces in real time, which is still in its initial phase, but we can expect that it will improve as time goes by.

3. Flexible Facilities

Since the popularity of ridesharing increased due to ecologic conscience as well as autonomous vehicles that can drive wherever you want by it, operators will have to convert their facilities and create new ones that will provide them multi-functionality as the hedge against the vehicles that do not require parking.

Remember that structural requirements will also change in ways to accommodate residential or retail spaces. That is why real estate developers will have to connect with parking operators to create a perfect facility that will accommodate people as well as their vehicles.

4. Pricing and Payments

Dynamic pricing can increase the chances of bright future of parking owners, because responsive pricing with the use of mobile app and online payments will change the way people think and operate.

San Francisco started a program back in 2017 where they combined 14 city-operated garages and 28 thousand public parking spaces with algorithmic, real-time methodology to optimize parking fees.

The best way to understand what will happen with this particular industry is by clicking here.

These apps will enable mobile payments and allow drivers to add time remotely by using mobile devices.