Smarter technology can help. Parking solutions can detect when vehicles are entering or leaving spaces and combine pricing data from city-owned and private spaces, then share that information with drivers looking for available spaces to make navigation and parking decisions faster while easing traffic congestion.

Parking information can be integrated into existing applications, such as MapQuest, to steer drivers to open parking. Getting better information into the hands of drivers will help cities make the most of their highest-valued real estate – on-street parking spaces.

Cities and private parking owners can use parking analytics to create policies and rates, adapting them to changing conditions or shifts in demand. Parking analytics help managers better understand pricing and maximize revenue in different parts of the city. This can also be adjusted for special events or if new businesses move into a location.

Parking managers can use historical and current availability and events to help decide when to expand or contract available parking, to enforce violations, and optimize staffing and associated services.

A cloud-based solution can easily transmit that information to those who need it and can be continually upgraded and modified to adapt to changing needs.

The World Economic Forum estimates that 48% of parking spaces will change function once autonomous vehicles (AV) are widely in use. But in order to know how a parking space will change its function it’s important to know how it was being used in the first place—drop-offs, pickups, short-term parking, long term parking, etc.—data that an intelligent parking solution can accurately provide. For example, many parking operators are beginning to reimagine their spaces by becoming more of a transit hub that supplies locations for pickups and drop-offs (to accommodate AV) as well as parking.

It will take investments from cities, private parking lot operators and car makers to integrate parking and traffic information to ease congestion, optimize city resources and ease mobility. Yet the power of delivering real-time information creates significant benefits for everyone, and especially you…

Fast-forward to a smarter day…

It’s taken six months to get another reservation at your extravagant restaurant, but this time the city has helped you prepare. Your car app shows you an accurate map where you see the location of seven open spots a mere block away. You arrive in style with time to spare. As you and your better half toast a drink at the bar, you serendipitously meet the celebrity chef, who treats you to his latest kitchen masterpiece.

Life is good with better parking.

Click here for more information on parking optimization.

Jason Schulz works in Verizon’s Smart Communities organization as a Product Manager overseeing the Parking solution.