Smart and Effective Realtime Parking

What is SmartPark — Real Time Parking Management Harnessing smart technology to respond to urban parking conundrums, SFICs introduces its unique experimental solution; a pimped-out system known as SPIM System. SmartPark works with parking lot owners and local governments to deploy surveillance cameras that can determine the status of a certain spot (filled vs. free) on what it calls an "easy to use app" showcasing open spots in green and occupied areas in red.

Key Features:

Realtime Space Detection: The app uses CCTV footage to recognise free Parking Spaces and displays on the APP.

Automated License Plate Recognition(LPR) using image processing to detect the licence plate on Cars and automating ticketing with payment received.

Booking Online: Allows users to book parking spots beforehand via the app.

Traffic Management: Making meaningful reductions in traffic congestion, by directing drivers to open spots immediately so search time is eliminated.

ADVANCE SECURITY: monitor parked car and hand brake act, prevent comment fire function), help to correct the behavior of keeping traffic started out from your home well.

Revenue Model:

Collects Parking Fees: Automatically detects license plates and issues an electronic ticket, collecting parking fees directly from the App. These charges can be collected by the hour or day, depending on how long a car parks.

Booking Fees: Provides the revenue from users who reserve parking slots beforehand. This service may incur a small convenience fee.

Subscription Model: This works for regular or business users who can subscribe to a premium service that includes all of the above.Guaranteed parking spots, discounted rates, and additional security features are typically part of this subscription.

Public/Private Sector collaboration : It is in talks with the local governments to manage public parking spaces and a revenue share of all fee collected would go through city authorities thereby creating an unique case for public-private partnership.

Earnings — Ad revenue: Shows ads based on users' original searches or provides local businesses with offers, creating new streams of income for the app.

Social Impact:

Traffic Jam: It significantly eases the traffic jams as it provides real-time data on available parking that would guide drivers to be parked soon faster thereby vacating bottlenecks.

Vehicle Theft Safer: monitors the vehicle status in real time, informs immediately any unauthorized activity.

Automated Fines — Specifies a way for the process of imposing penalty payments to be rolled out in an automated fashion, and violations verified by means of application.

Green Benefits: Decreases carbon emissions by causing less time idling or circling around looking for a place to park.

Conclusion: Not just a parking app; but that larger solution to cities perennial transportation challenge. Smart technology and real-time data make it more convenient, secure, efficient — creating the first mobile on-demand bike rental platform that has multiple revenue streams to help municipalities work smarter not harder.SaveChanges so far in 2016?

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