Parking. The situation that turns our otherwise civilized roadways into Mad Max-esque anarchy. A no man’s land, where traffic rules are moot and even basic human decency seems to go out the window.
That might be a tad overdramatic. But parking can be a nuisance, to say the least, which is why any system that helps simplify the process is essential to the smooth operation of parking lots the world over.
This is where parking management systems come in. These are typically the machines in parking lots that take your money and, if the mood strikes them, spit out a ticket saying you’ve paid for your spot. The umbrella term can also refer to traveler information systems, real-time vehicle counting, real-time parking guidance displays, video surveillance, and easy payment options. Some advanced parking management systems even allow users to reserve and pay for a parking space via telephone or the internet.
And demand for these systems is not negligible—the Global Parking Management Systems Market is expected to nearly double in value by 2018, growing at a CAGR of 11.69 percent.
TechNavio analysts have delved into the world of parking management to break down some of the main drivers expected to impact this market over the projected period.
More Vehicles, Less Space
It doesn’t take a rocket scientist to figure out that the main reason for increased demand for parking management systems is more cars and less parking spots. Anyone who has spent far too long driving around a parking lot, searching for a spot can probably see the value of intelligent solutions, which enable parking operators to offer parking convenience to customers.
Need to Improve Operator Service Quality
In order to survive in an oversaturated marketplace, businesses understand that they need to streamline processes, and parking is no different. It’s a service that needs to be improved, and parking management systems can help trigger business growth and attract customers. In addition, parking management solutions ensure safety and security of vehicles and provide dynamic parking tariff management.
Need to Save Time in Obtaining Parking Information
Parking management software solutions save time through improved data handling, providing information requests immediately, and responding quickly to customer requests—basically they provide instantly accessible information regarding parking spots through various network-connected systems.
Need to Improve Safety and Security
The need to keep vehicles safe and secure is driving the demand for parking management system solutions. In addition, these solutions help preserve data for future use. These solutions provide various services such as vehicle and passenger counts, spot occupancy, and facility safety and security monitoring.
