The IoT (Internet of Things) has transformed into a mature technology. Integration of sophisticated solutions into municipal management and administration processes is now a breeze. Some examples of places where this is a problem include cities where the number of cars on the road is growing rapidly.
You’ll need a ground-breaking concept to make the following possible in this setting:
1) Reduce your time spent searching the parking spot
2) Reduce accidents caused by parking
3) Reduce emissions of greenhouse gases
ince urban populations are only expected to grow, this is an urgent problem to solve now. The majority of the world’s population increase will occur in cities, reports the United Nations Department of Economic and Social Affairs. By 2050, this increase could reach 68%.
Both public and private organisations are feeling the pressure to address this issue. This is because it’s necessary to make more room for employees, customers, and residents (in increasingly cramped spaces). As a result, the Internet of Things (IoT) smart parking market is projected to be worth an astounding $11.13 billion worldwide by 2027.
But let’s not jump the gun; first, let’s define it.
What is Smart Parking
“Smart parking” refers to an Internet of Things solution that makes use of in-vehicle wireless sensors. This method, when coupled with appropriate software, alerts passing motorists to available parking spots. Sensors in this case can tell whether or not a car has been parked in a designated area. If a sensor detects movement in a reserved parking spot, it will notify the driver. For instance, the system may direct the driver to a specific empty parking space after notifying them that one has become available. Whenever a car pulls out of a parking spot, the cycle begins again. Another driver gets a real-time alert and is guided to the open parking spot.