Topic - Smart Parking System

Project – IT for Managers

Submitted to: Dr. Preeti Sharma

Submitted By:

Name Enrolment Id.

Anjali Khaitan 21A1HP071
Ritika Gattani 21A1HP058
Ritika Agrawal 21A1HP111
Riya Negi 21A1HP089
Sandipan Dawn 21A1HP114
Trisha Singh 21A1HP120

1
I. INTRODUCTION

Your Name: Ritika Gattani, Anjali Khaitan, Riya Negi,

Ritika Agrawal, Sandipan Dawn, Trisha Singh
Any Affiliation (Division, IC,
etc.):
Title of Proposed New Product: Smart Parking System
Proposed start date: 18th March 2022
Proposed end date (product
launch date):

II. EXECUTIVE SUMMARY:

A. Overview: Smart parking system using IoT to identify vacant and occupied positions without
roaming around in search of space for parking. The wireless sensor detects the status of the
parking slot and is then sent to a database with the help of a gateway to transfer and store the
car's information. The system keeps the date and time of both the entry and the exit to and from
the parking area.

Based on automatic and intelligent systems, proper planning for organised parking with the
help of sensors can detect the status of the parking slots as available, occupied, or reserved.
Smart parking with the service of surveillance cameras can streamline parking entry and exit,
simultaneously saving time and fuel. Fire extinguishers are installed in the parking areas to
ensure the safety of both cars and people.

Smart parking also helps avoid traffic jams as there is no need to waste time searching for any
available space for parking the car as the driver is already aware of the exact location for
parking.

1. Traditional parking system - Most houses, offices, and recreational centers have a standard
car parking arrangement. Separate parking spaces are constructed to improve organization and
reduce traffic for seamless access and leave. They use less energy, with lighting being the only
energy demand. The reliability of traditional garages is not affected by power outages.
Traditional garages are 24*7 open, but due to the restricted space in some conventional car
parks, vehicles must hunt for a vacant spot before parking. The capital investment isn't
significant if they have a simple design. Assigning lots to specific individuals can also provide
car protection techniques.

2. Smart parking system - Digitization and smart parking are beginning to provide alternatives
to urban mobility. It is a system that uses IoT and sensor technologies to provide real-time
information on the availability of outdoor and indoor parking lots and traffic and road
conditions. The intelligent parking frame comprises several utilities and processes that work as
a parking spot detector. You can install a sensor or a camera. This allows you to record and process
data and images to create real-time traffic statistics for your travel area. In contrast, cloud-based IoT
solutions connect these devices and centralize data. Then use big data to evaluate the information and
determine the availability and available space for street parking in public and private parking lots.

2
 B. Value Proposition: With the increase in the number of cars, it has become challenging to find
parking spaces at popular areas like airports, hospitals, malls. Due to the lack of available
rooms and not being able to locate vacant slots, people tend to park at places that are not
designated for parking. This leads to traffic jams and slow movement on roads.

Another significant issue arises when even after the availability of parking space, the area is not
in a shape to cater to the increasing number of cars. This is due to weak planning. People tend
to leave their vehicles in the non-designated areas for a longer time leading to severe traffic
jams and congestion. Drivers looking for vacant parking spaces also contribute to traffic
congestion's primary cause.

III. OPPORTUNITY:
A. Description & Design: This can be done by combining innovative smart parking technologies with
IoT connections. The place of the vacant parking lot is determined by the IoT sensor where the IoT
sensor is installed. These IoT data are sent to the cloud server through a wireless connection. All data
from the parking lot is collected and analyzed in real-time, creating a map of the room available to
search for maps in open spaces. Drivers that require a parking lot can find the nearest location using
real-time innovative parking maps. These seats can be booked using advanced technology that can also
accept electronic payments from the driver. The technical components of the case study for
developing innovative IoT parking solutions include the HCSR04 ultrasonic sensor and ESP8266
microcontroller, which use ultrasonic waves to determine the physical distance. Both are available in
all parking lots.

The IoT devices use the MQTT protocol to provide regular updates to cloud servers running AWS IoT
services over wireless signals. The cloud server collects information about all available parking spaces.
This will allow consumers to view the parking spaces open via the web or mobile application to choose
between them. IoT sensors use ultrasound to determine the distance to everything. When the parking
space is occupied, each sensor is embedded in the surface of the parking space to measure the
distance to the underside of the vehicle. IoT sensors use ultrasound to determine the length of
everything. When the parking space is occupied, each sensor is embedded in the surface of the parking
space to measure the distance to the underside of the vehicle.
3
 3 Possibilities for Detection-
Occupation of Space: The sensor detects a distance of 10 to 50 centimeters between an item
(about four to 20 inches).
Space is Unrestricted: The sensor detects a distance of more than 50 cm to an item (about 20
inches).
Space is filthy: The sensor detects that the distance to the object is less than 10 cm. If the condition is
"dirty," something may be blocking or obscuring the sensor, and you should check your device.
Programs running on AWS IoT and AWS Lambda show the available space for the driver in green, the
occupied area in red, and the sensor problem in yellow.

B. Impact of Product: One of the goals of smart parking is to reduce the time it takes to find a parking
space. Being able to direct the driver to an accessible location accurately has several environmental
benefits. Reduce CO2 emissions, noise, and other pollutants. You can use smart parking with an
intelligent environment to monitor air quality and parking space availability.
Smart Parking provides an extensive dataset that can be used to identify trends, peak hours, and other
metrics that can be used for forecasting and reporting for local governments, parking operators, or
businesses. MI says that sensors and data can be linked to city management systems. When the driver
knows exactly where to go, he spends less time idling and drives unnecessary miles. This will improve
traffic flow in busy areas.
Street parking has traditionally required the purchase of a parking meter or hiring a parking inspector.
Innovative parking technology can reduce these costs by automating the process and providing
targeted enforcement measures. Driving around the city looking for available parking space can be
annoying, especially during rush hours. Failure to find a parking lot can lead to loss of business or
encourage customers to shop elsewhere. Shoppers and visitors can quickly identify areas, reducing
friction and improving the overall experience. The comfort aspect is crucial for drivers with disabilities,
public service vehicles, and emergency vehicles.

IV. MARKET ASSESSMENT & COMPETITIVE LANDSCAPE:

A. Trends & Funding: The global intelligent parking system market is estimated to be $ 3.9 billion in
2019 and is expected to reach a CAGR of 17.4% between 2020 and 2027. The global parking
management market was valued at $ 3,682.1 million in 2019, is worth $ 5,762.8 million by 2025, and is
projected to grow at a CAGR of 10.3% from 2020 to 2025. The number of cars is expected to reach 2
billion by 2040.
4
 B. Organizational Capabilities: Cisco Systems, Inc., Altiux Innovations, Siemens AG, SKIDATA
AG, Robert Bosch GmbH, Amano McGann, Inc., BMW AG (ParkNow GmbH, Parkmobile
LLC), and ParkMe, Inc. are among the significant market participants. To stay ahead of the
competition, leading organizations provide innovative solutions and hardware equipment. Players
in the smart parking market are stepping up their work with parking management organizations to
meet the ever-changing needs of parking management. For example, Park Assist debuted its
Parking Guiding System (PGS) in The City of Hollywood's Nebraska parking garage in
November 2021. Residents and visitors will be able to use ParkMobile and Pay-By-Plate payment
methods through the system and the parking garage.

C. Government Policy & Funding: Bangalore's state government is planning an on-street paid
intelligent parking system for the entire city, based on a prototype system that is now in place on ten
roads in the town, effectively prohibiting free and haphazard parking. They planned to impose strict
parking regulations in light of the city's rising automobile population. The state government is now
proposing to install technology-enabled paid parking services across the city, including features
such as a smart parking app and parking meters connected to a central command and control center.
Central Parking Services, based in Bengaluru, has been awarded the contract to implement the
system on 86 roadways.

D. Competition: Cisco Systems, Inc., BMW AG (ParkNow GmbH, Parkmobile LLC), Flowbird, Kapsch
TrafficCom, ParkMe Inc., Robert Bosch GmbH, Smart Parking Ltd., Siemens AG

V. FINANCIAL PROJECTIONS:
Billing for parking is either a critical source of revenue for cities, car park operators, and
landowners or a helpful control mechanism for driving behavior. As a result, parking fines and
payment enforcement are essential aspects of the parking value chain. By applying diverse rules
in similar ways, smart parking can help with both of these aspects - income, and behavior. By
ensuring that information about parking fees is available, the city can confirm that it is
configured to encourage or prevent individuals from parking in specific locations.
Prices may be higher during peak hours to maximize revenue, while off-peak rates may be
reduced to encourage people to visit city centers for leisure activities. Accurate pricing can be
based on how long a car is parked, and IoT sensors enable cities to track this correctly; thus,
per-minute billing could be utilized in some cases. This is especially useful for on-street
parking, which lacks the entry and exit points of off-street parking, making time parked more
challenging to track and enforce.

Report Attribute Details

Market Size 2020 Value USD 4.40 Billion
Market Forecast for 2026 USD 14.15 Billion
Expected CAGR Growth CAGR 21.5% from 2021-2026
Base Year 2020
Forecast Year 2021-2026
5
 Altiux Innovations, Inc., BMW AG
(ParkNow GmbH, Parkmobile LLC), Inc.,
Top Market Players
CivicSmart, Inc., Deteq Solutions,
Flowbird, gtechna, and Others
Hardware, Software, Service, Type,
Segments Covered
Application, and Region
Request customized purchase options to
Pricing Options
meet your research needs.

6
VI. MEASURES OF SUCCESS: