Investing in smart parking… More benefits than you see with the naked eye
“It is not through financial profit alone that investment will be successful,” a saying mentioned by many economic theories, but it seems that smart positions and garages destroy them greatly, because they combine the advantages of profit and open prospects for the future.
Investing in smart parking is one of the main pillars of the future, powered by artificial intelligence and cloud computing technologies.
The American “Future Cities” website, which specializes in the field of smart cities, describes that “smart garages” have become one of the most growing investment resources around the world, especially since it is applicable in various places, whether university campuses, shopping centers or hospitals.
Why smart parking?
ElevenX answers the question, “Why is the application of smart parking so attractive to investors? By transmitting analyzes to investment experts around the world, they said that smart parking provides flexible and easy solutions to deploy in cities and institutions, especially those looking to implement the principles and initiatives of smart cities.” Which is based on the Internet of Things.
The technology in smart garages can provide short-term profits, by benefiting from collecting data from the cars that you use for marketing purposes, in addition to increasing those smart garages from the capacity of the parking lots, helping them to raise short-term profit rates.
But smart garages also achieve other profits in the long run, which may go beyond mere material profit, to reach economic and social profits related to the surrounding community, which we will mention in the next report.
And because the purpose of any investment is always to achieve return and profits, smart garages are one of the most prominent sources of profit and return, more than traditional garages.
Apart from increasing the capacity of cars in those garages, the profit in smart parking can be increased through a number of the following things:
- Capturing traffic flow patterns, which will help create a suitable marketing environment for advertising companies that can target the owners of those cars.
- Tracking the usage data of a specific space, which can greatly help in providing a better experience for drivers and providing more value to parking owners, so that the rates of car usage can be increased by knowing the exit and entry times of cars, and revising and improving the quality of that process, so that the investor returns faster turnover of capital.
- Reducing operating costs, especially since parking assets can eat up large portions of budgets these days, but with the provision of a greater number of cars thanks to smart parking, the costs of those garages can be reduced, especially those related to monitoring, maintenance and developments, which in turn is beneficial. Economically, not only for the project, but for the surrounding area in general.
A smart parking application can not only have a positive impact from an economic point of view, but it can also have an enormous impact on the environment.
Reports suggest that up to 30% of delays and restrictions in the flow of traffic are due to drivers slowing down or turning around in search of a parking space.
This congestion also has a significant impact on the environment, due to increased carbon emissions.
Investing in “smart parking” is based on the idea of helping drivers find a parking space, and the positive results of getting people to where they want can have a huge impact on parking owners and local businesses as well, as a seamless experience helps with positioning and managing the capital cycle more efficiently. Faster.
How can reducing traffic increase your profits from investment, as we mentioned earlier, smart garages will contribute, less congestion which is good economically, because this will help drivers to reach those parking lots more quickly, which will increase the number of cars that need to use those parking lots, and thus Raise the percentage of profits, and increase your ability to develop those parking lots to accommodate a larger number of cars.
Smart parking can also provide new opportunities for revenue and profits, but it also provides, thanks to the various loyalty programs between users and owners of those garages, in improving the assets of those parking lots and their infrastructure, which will allow you to collect more data about the cars that use those parking, which is what You can use it to develop your services and increase your investment.
Collected data can help identify short-term investment trends, as well as long-term insights, to help managers of those investments make better decisions regarding the use and maintenance of their parking assets.
Smart garages are always characterized by being based on low operating costs. After installing the infrastructure for these garages, they can achieve the highest possible return with the lowest operating costs, and without significant risks, they can make you pay compensation for cars that may be injured in accidents as a result of human errors.
Smart parking also helps enhance safety and security factors, as it helps reduce damage to the parking infrastructure or the cars that use those parking lots, as a result of human errors expected in traditional parking.
Also, most of these smart parking lots use only a single supervisor, which reduces the presence of any suspicious activity in those parking lots, which reduces the exposure of cars parked in those parking lots to any damage, whether by theft or accidents.
Moreover, reducing the presence of supervisors and workers prevents drivers from being distracted, which in turn reduces accidents and human errors.
Many car manufacturers have started to rely on the idea of self-driving vehicles, and it is expected that in 2035, these self-driving cars will dominate the market