Parking optimization, also known as smart parking, relies on IoT-enabled sensors and video connected through fast, reliable networks to monitor both on-street and garage parking to analyze trends over time. By collecting and connecting all your parking data together in the cloud, city managers, parking lot operators, city planners, traffic enforcement and others can access the key metrics they need to understand occupancy and turnover in real-time to better understand parking patterns.
Using this data, parking operators can optimize their pricing structures to both maximize revenue and steer demand to open spots. By understanding the impact of time of day, weather, special events, a new business or building opening in the neighborhood and other factors, cities can determine where to expand or contract available parking, where to focus parking violation enforcement efforts, and how to optimize projects to reduce disruption.
In addition, this information can be shared with drivers’ devices to help them find nearby available spots while they’re still on the way, instead of manually searching for a spot once they get there. Digital signs outside parking garages can be updated with real-time data on available parking spots so that drivers know which garages to go into.
In addition, the data you gather can be used to better understand where you need parking, and just as importantly, where you don’t. For example, if you are seeking to put in a bike lane, you may discover that one street has far more demand for parking than a parallel street a few blocks away. This will allow you to put the bike lane on the street that will cause the least disruption to drivers, making bike commutes safer in the process.