Mobility, Smart Cities, Artificial Intelligence

Intelligent technology for automated parking management

With an AI, effective control of parking spaces is ensured in real time, statistical analysis is provided, and higher revenues are generated.

Problem

One third of traffic congestion in cities is due to drivers looking for a parking space, as the average time spent looking for a free space is 26 minutes. In addition, there are queues in front of or broken pay stations and the problem, that some drivers forget where they parked and have to spend time looking for their vehicle.

Only 50% of drivers pay for their parking space. 70% of drivers say that parking is an important factor in their choice of destination.

Solution

Thanks to many intelligent functions, Wisesight permanently remedies these problems. The company offers a service for parking lots that efficiently guides drivers to a free space based on cameras, ensuring optimal and reliable guidance. 

The system offers any customer in the parking lot the ability to connect with him to know exactly where he parked. He can be directed there and view a video transmission of his vehicle in real time, which provides additional security. This not only avoids hassle, but more importantly, frees up spaces for new parkers.

Market size 

• B2G, B2B2C, B2B
• TAM: $6.6 million

Business model 

Wisesight’s technology is focused on two main areas, in both of which the customer has been put at the center and separate services have been developed to meet their respective needs:

Advanced parking services for smart cities and innovative capabilities for traditional parking lots and garages.

The control center makes it possible to monitor and view the parking lots and take appropriate action. To this end, an advanced center has been developed with almost no action required outside the system, either by compound managers or field staff working on site. 

Each camera provides a live video image that can be viewed at any time to enhance security in the area. A system has been implemented that provides statistical analysis for each parking space. It includes congestion display, payment options, revenue, and parking hours, and once analyzed, results in a significant increase in revenue.

Competitive advantages

Everyone in this cycle benefits from the advantages: The customers, the parking operators and the cities/municipalities.

Customers

Less waiting time, digital payment, the increase of security due to 24/7 video surveillance. Customers receive a payment reminder on their smartphone if they have not paid, saving additional fees.

Operator

The statistics allow for targeted pricing, depending on location and time of day. Thanks to real-time online information showing which users have paid and which have not, employees can complete their route based on relevant data and routine patrols are no longer necessary, reducing costs.

Cities

A feature that identifies areas/parking lots with a high rate of non-paying users and provides the municipality with several options, such as dispatching a parking attendant, sending a text message to the driver, recording via video the location and vehicle, sending an invoice, and more. 

Real-time transmission provides additional protection by increasing security and the ability to target parkers who are in reserved or handicapped parking spaces.