Today’s parking lot has moved far beyond simply parking cars.

Did you know the installed base of global on-street smart parking spaces is expected to reach 1.1 million by 2026? According to a new survey by The International Parking Institute (IPI), technology continues to transform the ever-evolving parking lot industry. That’s right, the largest emerging trend in parking lots today relates directly to technology, known as smart parking. No single technology offers a complete solution for everything. We’re seeing a combination of different technologies being utilized by city officials and parking operators designed to help transform parking into a more efficient, profitable, and sustainable industry.

Over the past few years, there has been a discernable shift in the smart parking industry. The early stages of smart parking projects were marked by several large, high profile deployments—such as those in Moscow, San Francisco, and Los Angeles. Although these projects have demonstrated success in terms of reducing congestion, obtaining the necessary funding for similarly sized projects has proved challenging. Thus, while the quantity of projects has increased (particularly among smaller cities), the average project size has decreased.

While the deployment of sensor technologies continues to be core to the development of smart parking, a wide variety of other technology innovations are also enabling more adaptable systems. Think cameras, wireless communications, data analytics, induction loops, smart parking meters, and advanced algorithms.

The future of the smart parking market is expected to be significantly influenced by the arrival of automated vehicles (AVs). Several cities around the world are already beginning to trial self-parking vehicles, specialized AV parking lots, and robotic parking valets.

Leading smart cities are recognizing that smart parking infrastructure (i.e., sensors and communications networks) can be leveraged to help enable cars of the future to park themselves. AV fleets are also expected to fundamentally change the way cars are used, affecting how often and where future vehicles will be parked. But all this is only the beginning. Check back with us often for an update on the emerging trends in parking.

Curcio Enterprises offers a full array of services, from striping to custom signage and layouts, to help cities and businesses provide the public with convenient parking options. Contact us today to discuss how Curcio can fight congestion through parking!