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Smart Parking Solution

Technology Overview

Locating a parking lot can be time consuming, and is an inefficient use of fuel. The occupancy state and turnover rate for traditional roadside parking are often not recorded, or can be inaccurate. This smart parking solution will allow users to find available parking lots with ease, and can be implemented easily at a low cost. A device is placed at each parking lot, and uses a magnetic sensor to detect the presence of a vehicle parked at the lot. The device has a long battery life of 3 to 5 years, reducing maintenance needs. It is wirelessly connected via Sigfox, a leading provider of connectivity for the Internet of Things (IoT).

Technology Features & Specifications

The following are the specifications of this device:

-          Device size: 230mm x 28mm (DxH)

-          Operational temperature range:  -20˚C to +60˚C

-          Certified CE/FCC

-          Dual detection: magnetic field and Received Signal Strength Indicator (RSSI)

-          Robust waterproof IP68 enclosure

-          Out-of-the-box operation (no programming needed)

-          Connectivity: LoraWan or Sigfox

-          High capacity lithium battery: 10,400 mAh

-          Up to 5 years of uninterrupted operation

Potential Applications

This smart parking solution will enable a more efficient search for a parking space, thus reducing the time spent on the road while locating a parking lot. Carpark operators will be able to get an overview of the parking space's occupancy state.

Market Trends and Opportunities

According to Allied Market Research, the global smart parking market is valued at $5,001.1 million in 2017, and is projected to reach $11,553.6 million by 2025, registering a CAGR of 11.2% for the forecast period from 2018 to 2025.

Customer Benefits

  • Improve parking revenue
  • Obtain accurate parking data to optimise parking fees for management
  • Easy-to-use management platform, with little need for maintenance

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