Smart parking is an essential element of modern urban design and smart cities, providing numerous benefits to facilities such as shopping malls, universities, hospitals, and large residential areas. The benefits of successful smart parking implementation are numerous and include improved facility access management, improved driver experience, better traffic management, revenue opportunities, parking profile development, reduced operational costs, and improved safety.

Facility access management is a key benefit of smart parking solutions, allowing facility management to control vehicle access to entrances and exits. Smart parking solutions can use a variety of technologies such as ANPR, RFID cards, proximity cards, and ticketing systems to enable the creation of white and blacklists for vehicles, as well as the ability to segment parking spaces into multiple zones for different purposes.

Smart parking solutions also improve the driver experience by providing parking guidance systems that allow drivers to quickly and easily find available parking spots and pay for parking. This leads to less congestion in the parking space, reducing the number of cars driving around looking for spaces and less stress on the environment.

In addition to improving the driver experience, smart parking solutions provide revenue opportunities through paid parking, variable rate options, loyalty program participation, valet parking, lost ticket and parking violation fines.

The business intelligence data collected from smart parking systems can be used to develop comprehensive parking profiles, enabling lot managers to identify short-term trends and longer-term insights that can inform decisions around the use and maintenance of parking assets. This can lead to reduced operational costs by automating and streamlining manual activities associated with traditional parking, such as operating gate barriers, issuing tickets, and payment.

Finally, smart parking solutions improve safety by providing real-time data to parking lot employees and security to help with violations and suspicious activity.

In summary, smart parking solutions are an essential element of modern urban design and provide numerous benefits to facilities including improved facility access management, improved driver experience, better traffic management, revenue opportunities, parking profile development, reduced operational costs, and improved safety.