Parking Tech

In-ground magnetic sensors detect vehicle presence above each parking space with 98%+ accuracy. Camera-based computer vision systems use AI to detect occupancy across entire parking facilities from a small number of cameras, reducing per-space hardware costs compared to in-ground sensors. Mobile payment apps enable cashless parking transactions through smartphones, automatically extending time and processing payment. Dynamic pricing algorithms adjust parking rates in real time based on occupancy, time of day, day of week, nearby events, and weather conditions. License plate recognition (LPR) cameras enable gateless parking (automatic identification at entry and exit), automated enforcement, and frictionless payment for registered users. Navigation integration through Apple CarPlay, Google Maps, and Waze guides drivers directly to available spaces based on real-time occupancy data. EV charging integration combines parking and charging into unified transactions, managing both the parking fee and the energy cost in a single payment.

ParkMobile enables drivers to pay for street parking through their smartphone, automatically extending time when needed and sending expiration warnings. SpotHero allows drivers to search, compare, and pre-book parking in garages near their destination, often at rates 50-60% below drive-up pricing. Dynamic pricing systems in San Francisco's SFpark program adjust meter rates to achieve 60-80% occupancy on each block, reducing circling and double-parking. LPR-equipped garages enable drivers to enter and exit without tickets or payment at the gate: the camera reads the license plate, the system calculates the duration, and charges the registered payment method automatically. Occupancy sensors at airports display real-time space availability on LED signs at garage entrances, directing drivers to open levels. ParkMobile's combined EV charging and parking service enables drivers to find a parking space with an available charger, park, charge, and pay for both services in a single app transaction.

The global smart parking market reached $7.45 billion in 2025 and is projected to grow to $64.5 billion by 2034 at 21.6% CAGR. The broader parking industry represents $100+ billion in the US alone across municipal, commercial, airport, and event parking. ParkMobile serves 50+ million users in North America. SpotHero operates in 300+ cities. The market spans hardware (sensors, meters, gates, LPR cameras), software (management platforms, mobile apps, analytics), and the emerging parking-EV charging convergence.