The automated parking systems market will enjoy a 15% growth rate by 2027. Today, the industry draws a massive 1.3 billion euro in revenue: a figure that’s partly the result of an increase in the number of vehicles being driven around the world, but partly due to the impressive innovation shaking up the sector.
Automated parking systems have been reinvented to minimise parking volumes through mechanical multi-storey garages that can stack car upon car without increasing their footprint. Digital innovations like pay-by-text and ticketless parking systems can now increase turnover with the added tools of radio-frequency identification and license plate recognition. When you replace sluggish cash and card payments with quick, automated identifiers, vehicles can enter your lot without stopping. Clients don’t need to hunt through pockets and glove compartments in search of lost tickets or change, so bottlenecks are becoming a thing of the past. Drivers can now wield apps instead of tiny cardboard tickets, and that has a bigger impact on your revenue than you might think.
Defining Ticketless Parking
You’ve probably heard of cashless parking—a system that does away with cash payments by offering pay-by-text and card terminals. Ticketless systems take that concept a step further by removing parking tickets from the equation as well. Parking payments are a grudge purchase if there ever was one, and the queuing times they cause build just as many resentments. No shopper wants to begin their trip with a 20-minute hunt for an empty space, and no shopping mall wants to lose parking profits to angry, underserved clients. Ticketless systems address all those pain points in one simple solution.
Drumming up more chatter than most other ticketless solutions are parking apps. Most of them require the simple addition of a camera and license plate recognition system to identify each license plate as it arrives. That, in turn, opens up a parking payment transaction on the user’s app. Add a range of payment options and you can add a new level of automation to your bookkeeping.
Once you’ve gone ticketless, you can track every vehicle in your lot. Armed with that data, you can turn cars away when you’ve reached capacity. You can also increase exit speeds, vehicle turnover times and profits. You can use the data you gather through contactless transactions to run analytics that highlight blockages that once went unacknowledged. When you know exactly who is using your lot and when you can push your lot security to new heights. Car thefts can finally become a thing of the past. Physical car park barriers can improve your flow, so you can finally cut back your queues. The automation doesn’t require any on-site staff, so it’s an investment that will quickly become cheaper than old fashioned alternatives. A ticketless solution usually pays for itself within the first year of installation.
Automated parking systems
The most advanced automated parking systems (APS) on the market are robotic, moving cars up and down within a multi-storey facility. This way, cars don’t need space for entry and exit, so the entire lot can be leveraged for profit. That requires a significant upgrade in a lot, but there are easier ways to incorporate automatic parking solutions into your lot.
Every ticketless system requires some form of automated vehicle identification. RFID is one of the most common solutions, and it packs some interesting potential in your system. Its asset tracking powers are fully customisable, letting you build your new technology into almost any other digital system, including your security tools and digital support software. Every time your system records a vehicle, it generates valuable data that can eventually be used to improve your performance. Your HR department can use RFID information to automate your payroll and check up on individual employees, your marketing department can use it to churn numbers after running important campaigns to find out how well they’ve performed, your security team can use the data to work out when their busiest hours are. There are few limitations to how you can leverage a digitised system to your benefit. Automation can also:
- Count vacant parking spaces to give motorists a real-time count of available slots.
- Use tracking sensors like GPS and onboard diagnostics systems to process data on occupancy numbers.
- Use the internet and smart technology to improve traffic compliance. This way, you can report parking violations and gather visual evidence to support your case.
- Automate mechanical barriers to prevent cars from exiting without permission.
- Perform radio-frequency identification (RFID) or license plate recognition to process cashless payments via a website or app.
The inclusion of an app adds significantly to your customer lifetime values.
With your clients’ names and vehicles in your system, you can run loyalty programs. This method can transform one-time users into lifetime clients. The mere existence of an app locks users into your system purely by virtue of its ease of use, but add loyalty points and discounts to the mix, and you have a solution that can increase your repeat business exponentially. It can collect traffic and redirect it to your primary website, adding to your online presence. Client retention has never been easier to control.
Adding Digital Payments to Your Arsenal
When you’re operating online, you can use secure payment gateways that reduce card fraud. Payments can be fully automated, so you can wave goodbye to long, error-filled cash ups. Modern parking lots require no human service staff, so they’re cheaper and less error-prone than those of the past.
Ticketless systems have transformed everyday parking experiences from grudging time-thieves into the smooth, easy systems they were always supposed to be. Profits and happier customers are always quick to follow.