Latest news with #smartparking
Entrepreneur
3 days ago
- Automotive
- Entrepreneur
Parkobot Raises INR 2.09 Cr from Inflection Point Ventures to Expand Smart Parking Solutions
The funds will be used to strengthen infrastructure, expand into new cities, upgrade backend systems, and diversify the company's offerings. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Parkobot has raised INR 2.09 crore in a seed funding round led by Inflection Point Ventures. The funding also saw participation from individual investors. The funds will be used to strengthen infrastructure, expand into new cities, upgrade backend systems, and diversify the company's offerings. The company has developed a unique IoT-powered smart barrier system integrated with a mobile application, allowing users to rent out private parking spaces on an hourly basis. This model effectively turns underused parking spots into income-generating assets while addressing urban congestion. Amrit Choudhury, co-founder of Parkobot, said, "Parkobot envisions decongesting India's streets by utilising underutilised private parking spaces, transforming them into revenue-generating assets via our IoT-enabled Parkobot barrier and app. Our goal is to create cleaner skies, less traffic congestion, and seamless urban mobility for all." Parkobot was founded by Amrit Choudhury, Raj Kumar Bihani, and Animesh Mukherjee. The startup operates as a real-time, on-demand parking solution. Its system supports automated, pre-booked parking with minimal manual effort. It currently facilitates more than 20,000 bookings per month and is built on proprietary technology, including scalable IoT devices and an in-house parking management platform. Mitesh Shah, co-founder of Inflection Point Ventures, stated, "Urban parking is a huge challenge facing today's cities. Poor planning and lack of proper parking spaces lead to encroachment on roads, illegal parking and congestion. However, Parkobot is driving the change by bringing in technology and smart parking systems that provide real-time availability of parking spaces and making underutilized private parking spaces available to the public." Parkobot continues to operate in stealth mode as it prepares for broader market expansion.
Free Malaysia Today
4 days ago
- Automotive
- Free Malaysia Today
Selangor parking plan to involve local councils, state and private firms
A 10-year concession on Selangor's 'smart parking system' involving four local councils is expected to be signed on Aug 1. (File pic) PETALING JAYA : Local councils and a state-owned company, together with a private firm, are reportedly involved in a revised plan for parking fee collections in four cities in Selangor. State executive councillor Ng Suee Lim said an agreement for a 10-year concession was still being finalised and would only be signed on Aug 1. The concession for the 'smart parking system' would cover collections of parking fees and enforcement in Petaling Jaya, Subang Jaya, Shah Alam and Selayang. Ng Suee Lim. It will now involve the local councils, state-owned Rantaian Mesra Sdn Bhd and a private company. Last week, Ng was quoted by Bernama as saying that Rantaian Mesra was appointed as the concessionaire, with revenue collected to be split between the company and state government. However, he said today Rantaian Mesra was not among the 26 companies that responded to a request for proposal, The Edge reported. Ng said enforcement would still be carried out by local council officers under this plan, while Rantaian Mesra will act as a system coordinator. The private company, which has yet to be appointed, will then handle the daily parking operations of the four local councils, he added. He said Rantaian Mesra and the other company are expected to invest around RM200 million to develop the infrastructure for the smart parking system. 'The details covering technical, financial, enforcement and governance aspects among the three parties are being finalised, after which the agreement is expected to be signed on Aug 1. 'We are trying to complete the improvements before Aug 1, but if we need more time, we will ask for an extension from the state executive council,' he was quoted as saying. Ng said the aim of this initiative is to double the amount of parking fees collected, from the current 30% to at least 60%. The local councils are expected to record higher revenue without taking on higher operational costs, he said. Revenue collected would be shared between the local councils, Rantaian Mesra and the private company; however, he did not reveal a breakdown of the shared revenue. Under the previous plan, which involved only Rantaian Mesra, Ng said there would be a 50:50 share, of which 40% would go to the councils and 10% to Menteri Besar Incorporated, the investment arm of the state government. The plan was opposed by several quarters including Selayang MP William Leong, who voiced concern over enforcement powers being privatised and turned into a source of income for a private company. It later came to light that Rantaian Mesra was wholly owned by Selangor MBI after netizens checked on the company's ownership on the Companies Commission of Malaysia's database.
Arabian Business
09-07-2025
- Business
- Arabian Business
Dubai Municipality and Parkin sign deal to transform public parking
Dubai Municipality has signed a Memorandum of Understanding (MoU) with Parkin to enhance the quality and efficiency of the emirate's parking infrastructure through smart, sustainable solutions. Under the terms of the MoU, Parkin will take on management responsibilities for select free public parking spaces owned by Dubai Municipality. The partnership also covers joint efforts in planning and regulation, streamlining permit procedures, and exchanging data to enable smarter parking management. Dubai Municipality and Parkin partnership The agreement, signed in the presence of Marwan Ahmed Bin Ghalita, Director General of the Municipality, and Ahmed Hashem Bahrozyan, Chairman of Parkin's Board of Directors, outlines a strategic framework to drive operational excellence, improve user experience, and support long-term urban mobility goals. Bader Anwahi, CEO of the Public Facilities Agency at the Municipality, said: 'This MoU aligns with our efforts to develop integrated infrastructure that meets Dubai's aspirations for a smart and sustainable future. 'Through this collaboration, we aim to improve the quality and efficiency of public services, enhance the customer experience, and support Dubai's strategic vision for sustainable urban mobility.' The agreement opens the door for future investments in multi-storey parking structures and expanded services at major events. It also includes developing unified criteria for converting private plots into public parking zones and implementing smart access and payment systems. Mohamed Abdulla Al Ali, CEO of Parkin, said: 'This partnership with Dubai Municipality reflects Parkin's commitment to advancing the emirate's vision for a smarter and more sustainable future. 'Leveraging our extensive expertise in managing public parking, and in alignment with the Municipality's long-term urban planning goals, we are developing integrated infrastructure to enhance urban mobility and support the Dubai 2040 Urban Master Plan.' The MoU underscores a broader public-private collaboration to help position the city as a global benchmark for urban innovation and mobility, in line with the principles of the 2040 Urban Master Plan.
Yahoo
09-07-2025
- Automotive
- Yahoo
Smart Parking Systems Market to Reach Valuation of US$ 47.99 Billion By 2033
Smart parking systems market is accelerating as cities prioritize efficiency over road expansion. Policy mandates and sensor advances spur rapid deployments, while MaaS integrations unlock new revenue layers. Collaborative ecosystems strengthen competitive differentiation and resilience. Chicago, July 09, 2025 (GLOBE NEWSWIRE) -- The global smart parking systems market was valued at US$ 9.28 billion in 2024 and is expected to reach US$ 47.99 billion by 2033, growing at a CAGR of 21.03% during the forecast period 2025–2033. Cities worldwide are experiencing record traffic density, and motorists now lose roughly ninety hours a year circling for spaces in Los Angeles, London, and Mumbai alike. The smart parking systems market therefore sits at the center of every 2024 congestion-reduction playbook. A recent ScienceDirect overview stresses that 'drivers searching for available spots' has become a primary trigger of urban gridlock and emissions spikes, cementing parking modernization as an immediate priority for planners. Because roadway expansion is rarely possible in built-out downtowns, connected sensors, camera-based space counters, and reservation apps are viewed as low-disruption alternatives that free curb capacity without new asphalt. Download Sample Pages: Momentum is no longer confined to megacities. Mid-tier hubs such as Valencia, Spain, and Columbus, Ohio, installed more than 4,000 in-ground sensors apiece between January 2023 and March 2024, illustrating sharply improved project economics. Vendors now bundle air-quality nodes and EV-charger status into the same network, letting municipalities capture multiple data streams through one deployment. Grand View Research notes that the smart parking systems market sustained robust shipment growth through 2023 despite inflationary pressures. Because every newly connected bay feeds anonymized occupancy intelligence into regional traffic-management centers, local governments increasingly treat smart parking as foundational digital infrastructure rather than a convenience feature, ensuring the segment's strategic relevance through the rest of the decade. Key Findings in Smart Parking Systems Market Market Forecast (2033) US$ 47.99 billion CAGR 21.03% Largest Region (2024) North America (36%) By Hardware Smart Meters (41%) By Software Parking Guidance System (76%) By Application Commercial (42%) Top Drivers Government smart city investments and congestion regulations accelerate parking deployments. Urbanization and vehicle ownership growth intensify demand for efficient parking. Advancing IoT sensors, LPR cameras improve effectiveness, analytics driving adoption Top Trends Mobile applications enabling real-time reservation and contactless payments dominate deployments. AI-powered analytics optimize occupancy, dynamic pricing, predictive maintenance gaining momentum. Automated valet and robotic parking solutions expanding across urban facilities Top Challenges High implementation costs and integration complexity hinder adoption in municipalities. Electromagnetic interference disrupts RFID signals, causing misdetection and reliability issues. Limited benefits awareness slows user acceptance and smart parking adoption Advanced Sensors and Vision Analytics Revolutionize Occupancy Detection Accuracy Worldwide Hardware innovation is transforming the competitive core of the smart parking systems market. Ultrasonic puck sensors, once standard, are being replaced by battery-less magnetometers that draw energy from vehicle-induced vibrations, cutting maintenance truck rolls by nearly a third. At the same time, curbside cameras equipped with neural processing units now classify vehicle types in under forty milliseconds, allowing differential enforcement for trucks, ride-hail cars, and delivery robots. A ScienceDirect review of emerging architectures confirms that multisensor fusion dramatically improves stall-status reliability under snow, fallen leaves, or low-light conditions. Equally significant, mmWave radar modules have fallen below the forty-dollar threshold, enabling their integration into smart streetlights across Seoul, Copenhagen, and Austin. These radars operate unaffected by rain or fog and can track micro-mobility objects, which broadens use cases beyond typical automobile bays. Meanwhile, cloud-delivered computer-vision models are being retrained every forty-eight hours on anonymized footage from more than two hundred municipal lots, ensuring continuous accuracy improvement without firmware updates. Such advances explain why procurement specifications in 2024 emphasize plug-and-play sensor interchangeability and over-the-air calibration capabilities. Vendors that cannot demonstrate sub-second latency or open API access increasingly struggle to qualify for public tenders, sharpening the technology race within the smart parking systems market. Mobility-as-a-Service Integration Transforms Urban Parking Into Seamless Travel Experience Ecosystems The smart parking systems market is converging with Mobility-as-a-Service (MaaS) platforms, creating unified trip-planning interfaces that blend transit schedules, micro-mobility availability, and now real-time parking reservations. In Helsinki, the Whim app saw a sixfold rise in in-app parking transactions after integrating municipal space data in late 2023, validating the demand for single-screen journey orchestration. Because commuters expect door-to-door predictability, MaaS operators view parking as the final puzzle piece that locks users into subscription bundles. From the vendor side, open data standards such as the Alliance for Parking Data Standards (APDS) specification are being embedded by default, letting curb-availability feeds mesh with ticketing APIs from bus and rail agencies. Source code contributions on the APDS GitHub repository climbed above twenty-five thousand commits in 2024, indicating healthy developer engagement. Insurance carriers are also tapping the same feeds to price short-duration coverage for high-value vehicles left in unattended lots, widening revenue streams for data owners. ScienceDirect literature emphasizes that 'parking allocation has become a major problem' and that coordinated guidance strategies significantly cut cruising time. Given these synergies, MaaS operators increasingly form long-term data-sharing pacts with parking platform providers, reinforcing cross-industry dependencies and extending the influence of the smart parking systems market well beyond curb boundaries. Cloud-Edge Synergy Enhances Scalability, Security, and Real-Time Decision Making Capabilities Digital architectures underpinning the smart parking systems market have evolved from monolithic cloud stacks to distributed cloud-edge hybrids. Edge gateways installed inside lighting poles now preprocess license-plate images locally, pushing only hash values and metadata to regional clouds, a design that lowers cellular bandwidth consumption by about four gigabytes per gateway each month. This local processing also supports low-latency enforcement alerts, letting officers receive violation notifications in under three seconds. A ScienceDirect technology review points out that Internet of Things proliferation allows 'complex solutions to be implemented seamlessly within urban governance frameworks,' referencing precisely this edge-cloud interplay. Cybersecurity has benefited as well in the smart parking systems market. City of Toronto's 2024 deployment uses edge-resident hardware security modules to store encryption keys, so raw plate numbers never transit public networks. Meanwhile, disaster-resilient architectures replicate occupancy databases across three geographically distinct data centers, providing continuous service during fiber outages. Scalability gains are pronounced: Auckland expanded from eight hundred to six thousand monitored bays in just twelve weeks by flashing additional edge nodes over the air, sidestepping on-site truck rolls. Because uptime and data integrity directly affect parking revenue and regulatory reporting, municipalities now rank zero-trust networking and automated patching as top tender criteria, raising technical entry barriers and shaping product roadmaps throughout the market. Innovative Funding Models Bolster Infrastructure Upgrades and Inclusive Urban Services The economics of deploying thousands of connected bays remain challenging for cash-strapped municipalities, yet 2024 witnessed inventive financing mechanisms that keep the smart parking systems market moving. Under Madrid's public-private 'concession-plus-data' model, vendors front hardware costs in exchange for ten-year shares of occupancy analytics revenue. The city retains policy control while avoiding immediate capital expenditure, a template now under evaluation in Buenos Aires and Denver. Elsewhere, transport authorities are packaging parking modernization with broadband development. Melbourne's 'curb fiber swap' lets telecom operators run last-mile fiber through new sensor conduits, reducing trenching duplication and generating lease income that offsets equipment costs. Further, the European Investment Bank's Green Mobility window now approves low-interest loans specifically for digital curb projects that demonstrate quantified emission reductions, aligning fiscal support with climate policy. Additionally, crowdsourced funding is emerging: Brooklyn residents collectively raised over three million US dollars via municipal bonds to outfit fifteen residential blocks with occupancy sensors, ensuring neighborhood-level accountability. These hybrid approaches transform parking from an isolated line item into a multi-stakeholder investment opportunity, broadening the addressable universe for suppliers and reinforcing long-term growth prospects across the smart parking systems market. Data-Driven Personalization Elevates User Experience and Dynamic Pricing Strategies Worldwide User-centric design is now a core differentiator in the smart parking systems market, and data science sits at its heart. Mobile apps in San Francisco's Port District compile driver preferences—such as proximity to EV chargers or well-lit areas—and automatically rank available bays to minimize walking distance. Because the recommendations derive from six months of anonymous behavioral logs, accuracy improves continuously without manual tuning. Similar personalization appears in Tokyo, where in-dash infotainment units receive curb occupancy feeds every thirty seconds and highlight spaces matching driver's profile, including ADA compliance or shading requirements during summer heatwaves. Dynamic pricing is the financial counterpart to personalization. Instead of flat hourly fees, Seoul's Gangnam district now updates tariffs every fifteen minutes by algorithmically weighing space scarcity, air-quality indices, and public-transit headways. During pilot rollouts, peak-hour cruising distance dropped by half a mile per driver, saving fuel and cutting noise complaints. Retailers have joined the loop, offering real-time discounts inside the same app when adjacent bays sit underutilized, effectively turning parking inventory into an ad channel. Such cross-vertical linkages demonstrate how granular analytics recast a seemingly mundane asset into a responsive, revenue-optimal system, deepening customer loyalty and advancing the sophistication of the smart parking systems market. Need Custom Data? Let Us Know: Strategic Collaborations Shape Competitive Landscape and Accelerate Product Innovation Worldwide Collaborative maneuvers are redrawing competitive lines throughout the smart parking systems market. In December 2023, a major automaker and a top sensor provider launched joint embedded-parking modules preinstalled in new vehicles, eliminating the need for aftermarket dongles. Concurrent tie-ups between payment processors and curb-management startups allow tap-to-park functionality through digital wallets, streamlining consumer adoption. A literature review on ScienceDirect underscores that 'complex solutions can now be implemented seamlessly' when multi-party governance structures are in place. Equally telling are alliances between hardware incumbents and cloud hyperscalers. These partnerships supply municipal clients with end-to-end service-level agreements that guarantee ninety-nine hours of monthly downtime at most, a threshold small vendors struggle to meet alone. On the standards front, fifteen companies formed the 2024 Curb Data Commons to publish anonymized global occupancy datasets for academic research, hoping to accelerate algorithmic breakthroughs that benefit all members. Finally, venture investment is concentrating around platforms that demonstrate ecosystem-readiness; funding rounds increasingly stipulate that proceeds be used to strengthen interoperability layers and developer outreach. Such coalition building indicates that no single firm can address the full complexity of modern curb management, and therefore collaborative depth will remain a critical success factor shaping the future trajectory of the smart parking systems market. Global Smart Parking Systems Market Major Players: Altiux Innovations Amano McGann, Inc. Amco S.A. BMW AG (ParkNow GmbH, Parkmobile LLC) Cisco Systems, Inc. CivicSmart, Inc. Deteq Solutions Gtechna INDECT Electronics & Distribution GmbH Kapsch TrafficCom Libelium Comunicaciones Distribuidas S.L. Meter Feeder, Inc. Mindteck Municipal Parking Services, Inc. Nedap N.V. Park Assist Flowbird ParkHelp Technologies ParkJockey ParkMe Inc. Robert Bosch GmbH Siemens AG SKIDATA AG Smart Parking Ltd. SpotHero, Inc. Swarco AG Urbiotica, S.L. Other Prominent players Key Segmentation: By Hardware Pucks (Wireless Sensors) Cameras & LPRs Smart Meters Signage Parking Gates By Software Parking Guidance System Analytics Solutions Service Outlook Consulting Service Engineering Service Mobile App Parking Service By Type On-street Off-street Garage Parking Lot Parking By Application Commercial Government Transport Transit By Region North America Europe Asia Pacific Middle East Africa South America Have Questions? Reach Out Before Buying: About Astute Analytica Astute Analytica is a global market research and advisory firm providing data-driven insights across industries such as technology, healthcare, chemicals, semiconductors, FMCG, and more. We publish multiple reports daily, equipping businesses with the intelligence they need to navigate market trends, emerging opportunities, competitive landscapes, and technological advancements. With a team of experienced business analysts, economists, and industry experts, we deliver accurate, in-depth, and actionable research tailored to meet the strategic needs of our clients. At Astute Analytica, our clients come first, and we are committed to delivering cost-effective, high-value research solutions that drive success in an evolving marketplace. 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Gulf Business
09-07-2025
- Business
- Gulf Business
Paid parking in Dubai: Authorities sign MoU to enhance efficiency
Image credit: Getty Images Dubai Municipality has signed a Memorandum of Understanding (MoU) with Parkin Company PJSC, the largest provider of paid public parking facilities and services in Dubai, to enhance operational efficiency and service quality across the emirate's public parking infrastructure. Eng. Marwan Ahmed Bin Ghalita, Director General of Dubai Municipality, and Ahmed Hashem Bahrozyan, Chairman of Parkin's Board of Directors, attended the signing ceremony. The MoU was signed by Bader Anwahi, CEO of the Public Facilities Agency at Dubai Municipality, and Mohamed Abdulla Al Ali, CEO of Parkin, Read- Framework for smarter parking solutions The agreement establishes a framework for collaboration between both parties in several key areas, including developing planning and regulatory standards, streamlining permit procedures, and enabling data exchange to support service optimisation. The MoU further authorises Parkin to manage selected free public parking facilities owned by Dubai Municipality, expanding the company's growing portfolio of smart-parking solutions. Bader Anwahi, CEO of the Public Facilities Agency at Dubai Municipality, said: 'This MoU aligns with our efforts to develop integrated infrastructure that meets Dubai's aspirations for a smart and sustainable future. Through this collaboration, we aim to improve the quality and efficiency of public services, enhance the customer experience, and support Dubai's strategic vision for sustainable urban mobility.' Driving innovation and urban development The agreement includes exploring opportunities for investment in and development of multi-storey parking structures, managing regulated facilities, and delivering value-added parking services at major events. The scope also includes developing unified criteria for using private plots as public parking areas and identifying innovative mobility solutions, including smart access and payment systems. Commenting on the collaborative nature of the MoU, Mohamed Abdulla Al Ali, CEO of Parkin, said: 'This partnership with Dubai Municipality reflects Parkin's commitment to advancing the emirate's vision for a smarter and more sustainable future. Leveraging our extensive expertise in managing public parking, and in alignment with the Municipality's long-term urban planning goals, we are developing integrated infrastructure to enhance urban mobility and support the Dubai 2040 Urban Master Plan.' The MoU highlights both organisations' roles in driving Dubai's transformation into a leading global city through effective public-private collaboration, as set out under the principles of the Dubai 2040 Urban Master Plan. It aims to support the creation of modern urban infrastructure that meets the evolving demand for smarter parking solutions. Parkin announces Variable Parking Tariff Policy in Dubai In March, Parkin Company PJSC announced an update regarding the Variable Parking Tariff Policy. As previously communicated by the company, the Variable Parking Tariff Policy was scheduled to take effect in Dubai on 4th April 2025, a Introduced by the Roads and Transport Authority (RTA), the new policy applied peak and off-peak tariffs across 100 per cent of the public parking portfolio and approximately 35 per cent of developer spaces. The tariff structure was based on the type of parking facility—Standard or Premium Parking—and whether the service was used during peak or off-peak hours. Premium Parking was defined as parking facilities located in high-demand, densely populated areas, often adjacent to or near public transport infrastructure. These zones were clearly marked with dedicated signage and displayed tariff information. Additional details were made available on the Parkin website, mobile app, and social media channels. Updated parking designations and tariffs Following further discussions between Parkin and the RTA, approximately 40 per cent of the company's public parking portfolio was designated as Premium Parking—an increase from the previously communicated 35 per cent. The remainder of the public parking spaces were categorised as Standard Parking. As of year-end 2024, the company operated 3,200 parking spaces across six Multi-Storey Car Parks (MSCPs). The MSCP parking tariff remained unchanged at Dhs5 per hour, charged around the clock, 365 days a year. However, customers parking for more than eight hours within any 24-hour period were subject to a maximum fee of Dhs40. Extension to developer spaces and event tariffs Also as of year-end 2024, Parkin's private developer portfolio consisted of 19,200 spaces. Following discussions with the RTA, it was anticipated that approximately 35 per cent of this portfolio—up from a previously expected 0 per cent—would be subject to the variable tariff. In line with the public parking portfolio, the Variable Parking Tariff Policy was also set to apply to developer parking spaces from April 4, 2025. A breakdown of applicable tariffs for developer spaces was provided in the appendix. To manage increased vehicle volumes during major events, a special tariff of Dhs25 per hour was to be applied from 8:00 am to 10:00 pm in the area surrounding the Dubai World Trade Centre (DWTC). This event tariff was applicable to approximately 200 spaces.
