Vision
For many years parking has been a challenging issue in urban areas. 30% of traffic congestion is caused by drivers trying to find an open space. The average driver spends about 20 minutes looking for a parking space. The average driver also wastes about 55 hours each year looking for parking. People are frustrated by the time and fuel wasted and the environment is also negatively affected by pollution. Businesses often lose revenue due to the lack of available parking.
Our goal is to develop a mobile app with a user-friendly interface that allows users to digitally find the nearest available parking space. Users will see a map of the parking infrastructure, their location, and which spots are open. Users will also be able to reserve their parking space in advance and pay parking meters. Users will be warned if they are in a restricted zone. We will also bring awareness to the adoption of mobile/contactless payments and connected car services. We are planning for the mobility ecosystem of the future while partnering with forward-thinking companies.
Parking is a multi-billion-dollar market in the U.S. today (35B). According to the National Parking Association (NPA), projections are that parking will be a (100B) industry in the next 10 years due to advances in technology.
