As much as we’d all like to hear of a one-size-fits-all solution, frankly, there isn't any. The issue is much more complex than it seems. A deeper understanding of the disparity between parking demand and supply can help draw a better and more realistic conclusion. Now, while all eyes are focused on somehow expanding parking spaces, the existing spaces do not receive proper attention; hence, they continue to remain mismanaged – no concrete parking regulations in place, inadequate pricing methods, no real-time spot occupancy information for drivers, no provision for optimizing traffic flow during the peak hours, and unsustainable streetscape that makes walkability or cycling almost impossible. Then comes the problem of accurate data and its communication for both the on-street (metered) parking and off-street parking.

Smart parking systems with their IoT-based technologies can help solve part of the puzzle – fair dynamic pricing can be used as a tool to regulate supply and demand of parking occupancy. App based real-time information can help motorist to discover alternate legal parking lots. Such apps can also help people make decision of whether to take out their personal vehicle or use taxi or public transport depending on availability of parking. This also improves the walkability of an area, encouraging people to walk or cycle for short-distance commuting. 

About creating new supply of parking, we shouldn’t just rely on building new multi-level parking lots - though they are very much needed. We should also look at unlocking some of the captive parking spaces already around us like residential societies, corporate offices, institutional campuses, etc. There are ofcourse apprehensions of allowing strangers to enter such places for parking. But with a smart access control system at the entry and exit points, it is possible to allow only verified users with app based authentication. This way empty slots of existing private properties in dense urban areas can be converted into controlled public parking and the revenue goes back to them.

The other part of the problem can only be solved by encouraging shared mobility and strengthening the public transportation system. And only through such multi-pronged strategy we can solve the current parking crisis.

How can the industry use technology to help deal with it?

We need to use smart parking systems that enable drivers to find the relevant parking slot and help operators run the parking operations efficiently. Smart parking is a parking technology ecosystem that automates the various operations involved in parking for all the stakeholders involved. There is a lot of modern technology combined like IOT, mobile apps, cloud softwares, and data analytics. It reduces revenue leakage and brings efficiency, centralised on-the-fly control, and vigilance.

Internet of Things or IoT, involving the use of smart sensors and cameras, is able to detect when a car enters and leaves a parking spot. This information can be relayed to a centralized data platform, and later converted into clear insights for drivers via smartphone applications – based on the real-time information so provided; motorists looking for a parking spot close by will be notified of space availability. This will address parking spillovers and traffic congestion, one vehicle at a time. 

Moreover, fair dynamic pricing regulated via apps and digital public displays will ensure that motorists are charged fair prices based on their usage time and peak hours, no matter the parking lot. Finally, automated parking systems or robotic valet parking will further preserve land by maximizing space usage – vehicles entering and leaving a robotic parking facility will be moved up and down the different levels of the facility via robotic arms. Besides being a completely secure method of parking, this technology further reduces the park search time. Smart parking helps drivers explore every possible parking option, which enhances their arrival experience. Besides improving parking experiences and curbing emissions, smart parking optimizes facility usage and introduces new revenue streams for lot owners.

AI, ML, Robotics, and automation. Do these technologies find a place in the parking industry innovation sphere? How do you see the new-normal and things moving in the industry?

Yes, all of the above-mentioned technologies find their place in the parking industry innovation sphere, especially in the new-normal, which makes social distancing and minimal physical contact the need of the hour. The world is gradually going completely cashless. Connected Smart Cars are now hitting the roads, and more and more people are waking up to the power of technology in making their lives easier, including parking. 

The smart parking system running on IoT-based technology and automation will meet all the demands of the new-normal – welcome zero-contact parking. Where robotic valet parking will cut the need for unnecessary human contact within a parking lot, so will ML based dynamic pricing engine powering the app based payments help drivers make hassle-free digital payments. 

Moreover, technologies such as AI Camera based license plate recognition and smartphone-based parking solutions will make the entire experience of parking a free flow one. What awaits for motorists in the near future of parking is an end-to-end minimal contact parking experience – motorists can search, navigate, access, and pay directly for parking through their smartphone app or in-car touchscreen dashboard. 

On a final note; COVID-19, though an unprecedented crisis, has certainly overturned economies, industries, and lives within a short span; however, for the parking industry, there is some silver lining of unexpected acceleration of digital automation of the industry that was needed for so long. And most importantly, society collectively will be able to save a lot of time, fuel, and curb emissions. The technology with promises of hassle free parking in the future is here and it’s high time our urban development plans adopt them.