Economic benefits of smart parking solutions

  • Sidney Oluoch
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As parking demand escalates, uncoordinated, inefficient parking management can get in the way of business profitability and performance. For example, retailers want people to stay in their shops for one to two hours, during which time, free parking is offered. The problem is that non-customers can also capitalise on this and take up valuable parking space. Furthermore, driving around in search of a parking spot can be a very frustrating experience. 

Customers, employees and visitors often end up driving elsewhere, resulting in lost revenues and reduced productivity. Outside business hours, enterprise-owned parking areas are often shut down, leading to wasted space as citizens run out of street parking options, especially in the city centres.

With the advent of the Internet of Things (IoT), smart parking systems provide an innovative answer to these challenges. By enabling unprecedented visibility into parking spaces, smart parking solutions provide significant benefits for your establishments.

Highlight inefficiencies through parking duration

Real-time updates on the parking duration of individual vehicles can assist in identifying unusual or illegal parking changes for proactive responses. For instance, supermarkets and retailers can monitor excessive parking time that could imply unauthorised use of their parking areas. Other problematic behaviours such as overtime parking, or one car occupying two lots can be detected instantly with automatic alerts. Likewise, a parking space that has been left empty for long suggests potential issues that require checking.

Over time, a smart parking solution generates data that uncover correlations and trends of users and lots. These trends are invaluable to lot owners as to how to make adjustments and improvements to drivers’ experience.

Improve the parking experience

Digital signs or light indicators retrieve real-time parking data to inform and navigate drivers to the closest available parking spot. Data streamed and stored in the system servers enables the development of specialized services for stress-free parking experiences. In addition to preventing frustration and lost productivity, this also reduces carbon footprint and enhances air quality in indoor parking areas.

Optimize facility usage and create new revenue streams

Sensor data reveals powerful insights into which spaces or areas have the highest and lowest parking traffic. This helps facility owners decide where to expand more parking and where to scale back accordingly. At the same time, misuse of dedicated parking spots or emergency access roads can be detected and controlled more easily. Smart parking solutions can also enable enterprises to generate extra revenue on their parking spaces outside operational hours.

Viable connectivity is at the heart of every IoT architecture. Regarding smart parking systems, cost and power efficiency, along with ease of installation and management, are leading requirements. On top of that, extensive coverage and deep penetration capability are a must to ensure reliable data communications in indoor and underground parking facilities.


The development of the Internet of Things and cloud technology opens up new opportunities for smart cities. IoT-based smart parking system offers real-time slots, parking procedures, and information and improves users’ ability to save time on proper parking. It helps to solve growing traffic congestion concerns. If you would like to experience first-hand the real benefits of smart parking systems then you might be just in luck. USS is here to help you custom design a solution that will meet your requirements and enhance both the parking experience and revenue in your establishment.

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