Updated: Aug 18
The parking industry has undergone significant changes in recent years, driven by advancements in technology and changing customer preferences. As Q1 comes to a close, we want to share the top 3 biggest trends we’re seeing in the parking industry.
Mobile Payment Options
With everyone using smartphones, mobile payment options are becoming the norm in 2023. Traditional payment methods such as physical pay stations and cash-only options are gradually being phased out. Adopting mobile payment options not only enhances the user experience by providing greater convenience and flexibility, but also aligns with the trend towards digitalization and modernization in the parking industry.
Mobile payment parking also offers benefits for parking operators and cities. By using mobile payment systems, operators can reduce the need for physical payment kiosks and ticket machines, which can be expensive to maintain and can take up valuable space. Mobile payment systems can also provide valuable data on parking usage patterns, allowing operators to optimize their parking resources and adjust pricing as needed to ensure that parking spaces are used efficiently.
Sustainability has become an increasingly important focus in the parking software industry. One example of this trend is electric vehicle (EV) charging stations. Many parking software vendors are installing EV charging stations in their parking lots and garages to encourage the use of electric vehicles and reduce greenhouse gas emissions.
Transition from Physical to Virtual
The move toward digitizing the parking operation is gaining traction as more cities and parking facilities are looking for ways to streamline the parking process and reduce the need for physical permits and tickets. One of the key components of this trend is the adoption of virtual permits. Virtual permits offer numerous benefits over physical permits, including increased convenience for parkers, reduced administrative overheads, and improved data accuracy. Parking software providers need to ensure that their platforms support virtual permits and are capable of managing them efficiently.
Another aspect of the move toward digitization is the adoption of gateless parking access and revenue control (PARC) systems. These systems use license plate recognition (LPR) and other technologies to automatically identify and bill vehicles as they enter and exit parking facilities. This eliminates the need for physical tickets, payment kiosks, and gates. These are costly pieces of equipment that require routine maintenance and time. Moving to virtual and gateless options both speed up the parking process and help reduce overall costs.
The move toward digitization is also part of a broader trend toward smart city platforms that integrate a wide range of technologies and services to improve urban life. By leveraging data and connectivity, these platforms can help cities and parking operators optimize the use of parking resources, reduce emissions, and improve the overall parking experience for drivers.
The parking industry is undergoing a significant transformation, and these trends are likely to continue in the coming years. Mobile payment options, integration of sustainable technology, and the move towards digitization are all expected to revolutionize the way parking is managed in the future. That’s why we make sure our all-in-one platform is always ahead of the curve. This ensures we keep up with the latest trends and continue to innovate to meet the ever-changing needs of the industry.