A Smart Parking Guidance System (PGS) is an intelligent parking system that provides real-time parking space availability and encourages drivers to park. A wireless PGS uses wireless sensors for parking detection for a vehicle’s presence or absence.

Wireless is the new standard for Smart PGS as it keeps technological pace with the rest of the world. We have all witnessed the technological advancement of the wireless network to support increasing demands to accommodate billions of devices without compromising the quality of service and security and lowers operational costs. Wireless technology has continuously evolved since the first communication using Morse code, now at 5G a century later, there is no end.

Parking Guidance Explained

A Smart Parking Guidance System (PGS) is a parking system that, in real-time, directs drivers to available parking. Two main functions of a PGS system are:

• Saving time and improving user experience for drivers, and
• Increasing operating efficiency of parking facilities by maximizing its capacity utilization.

The smart parking system provides real-time data on the availability of parking spaces and helps the driver park quickly and efficiently. PGS technology addresses the long-term issue of parking and pollution, which harm the environment. Sensors, real-time data, and smart mobile applications allow users to monitor available parking and reduce the time spent finding a parking space.

The growing global smart parking market is driven by an increase in parking concerns, demand for Internet of Things (loT) – based technology, and a high adoption rate in the number of vehicles. Furthermore, an increase in investment in developing driverless vehicles, as well as an increase in government initiatives to build smart cities around the world, are expected to create tremendous opportunities for market growth. The rise of cashless transactions and e-payment options is opening new avenues for smart parking solution providers to pursue. Furthermore, artificial intelligence and machine learning advancements assist businesses in making game-changing discoveries.

A wireless PGS solution relies on per-space battery-operated radio communication sensors, eliminating electric and data cabling for the vehicle detection functionality of a PGS solution.

A PGS can improve a driver’s experience and a parking facility’s revenue.

An important point to highlight is that these are just two specific examples, not all-encompassing representations. Though these are quite representative.

From the driver’s point of view: A driver arrives at a busy shopping center at the height of the holiday shopping season, needing to park. The driver enters the parking facility and begins looking for a parking place. With a PGS, the driver knows if parking is available before entering the garage, but this garage has no PGS system. The driver drives from one level to the next in search of open space. After reaching the top level, they go down, still looking for a space. After spending 15 minutes or more searching for parking, the driver leaves the facility, frustrated, and shopping elsewhere. With PGS, the driver would have found parking within 1-2 minutes, even with only one space left.

From the facility owner’s point of view: A mid-size corporation is moving to a new campus with a parking facility that can accommodate one-third of the employees who work in this office. The corporation rents an overflow surface lot at $15,000 per month to accommodate all employees. The corporation installs a PGS in the main parking facility and the surface lot to improve employee experience and analyze facility utilization. After several months, PGS analysis of the usage data reveals that, even though some levels for the main parking facilities were at more than 90% occupancy during workdays, others remain under-utilized. This insight allows the corporation to terminate the surface lot rental quickly for significant cost savings a few months into operation. Without a PGS, the corporation would have rented unneeded parking for months or years.

Every year, the number of vehicles on the road increases significantly, and parking is an issue in every major city. The supply-demand gap for parking spaces is growing yearly, increasing congestion and pollution. These factors are expected to drive the global smart parking systems market.

The rate of urbanization has increased rapidly as the world population grows. As the number of people who own cars increases, there is an urgent need for more parking spaces. According to the United Nations Department of Economic and Social Affairs, by 2050, nearly 68% of the global population will live in cities. The need for parking, combined with the growing popularity of data-driven operations, and the benefits that come with them, are increasingly making smart parking a need and an expectation.

Parking is an essential element of Proptech

The real estate industry is embracing technology, with proptech playing an ever-important role in maximizing parking. Proptech is driving seamless integrability. Consider the added value of having the same provider of a Parking Management System and Building Management System with all the functionalities offered by proptech companies. Forward-thinking, organizations focused on maximizing their real estate consider parking part of a conscious, convenient, and sustainable future. Proptech may be a young industry, but it is growing rapidly, with 9,000 proptech companies emerging over the past decade, and the market is predicted to be valued at US $86.5 bn by 2032⁴.

Smart parking solutions outlook

The size of the parking management market surpassed $3 bn in 2020 and is expected to grow at a 12% compound annual growth rate (CAGR) through 2027 to $6 billion, according to an October 2021 report from Global Market Insights (GMI) Inc.

The global smart parking solutions market size and revenue are expected to increase from over US $4.4 bn in 2022 to US $30.84 bn by 2032, ascending at a stellar 21% CAGR during the forecast period¹.

A growing adoption for off-street commercial parking

The U.S. parking management market is forecast to register a growth rate of about 10% through 2027, driven by the rise in demand for commercial parking facilities. In the U.K., market demand for parking management from the transportation sector is poised to witness 17% gains by 2027, impelled by the acceleration in the construction of smart cities. The government authorities in the country are fast-tracking the process, led by the growing trend of urbanization. Smart cities enable the implementation of advanced infrastructure combined with sustainable technologies to reduce carbon footprint. This factor has encouraged government bodies to take new initiatives to build the infrastructure for creating a unified smart city system³.

Smart cities are driving sustainable infrastructure

According to the United Nations Department of Economic and Social Affairs, the urban population in 2019 was 55.7% and is projected to reach 68.4% by 2050. The rapidly increasing global population and rapid growth in the urban population are driving the demand for sustainable infrastructure across the globe. Governments across various countries are taking steps and investing heavily to counter the concerns related to rising population rapid urbanization through the development of smart cities⁵.

Predictive analytics transform parking facilities to improve traffic flow and space allocation depending on the time of stay. Data assessment tools can predict the parking space, feasibility, and traffic flow in the upcoming smart city projects in the regions, thus fast-tracking the process.

The global smart cities market reached US $1,025.9 bn in 2021 and is anticipated to rake up around US $7,162.5 bn by 20305.

In 2020, Europe held over 30% of the global revenue share, driven by increasing demand for parking data analytics³.

The rising government investments in transportation management and smart building, among others, in the developing regions, are expected to drive the smart cities market growth.

“Favourable initiatives by governments such as smart city projects, across the globe are supporting the growth of IoT-based equipment. Governments are seeking innovation in areas such as energy conservation, smart traffic management, security system improvements, and others. Such actions are likely to offer various remunerative opportunities to the market in the forecast period².”

What is a PGS and how it works

At the very high level, PGS’s main functions include:

• Providing information on parking spaces available to drivers and to parking facility management
  Assisting drivers with finding available parking spaces

A simple example of how Parking Guidance Systems work:

• A car is ‘sensed’ and counted when a vehicle enters a parking facility (for counting solutions) or when parked in an individual space using vehicle detection hardware.
• Car counting data is communicated via a PGS IT network, updating the current facility occupancy information.
• Occupancy information is displayed on Digital Message Signs (DMS), directing the driver to vacancies. Typically, this is by displaying the number of vacant spaces on each level at critical traffic flow intersections. If a PGS solution provides per-space detection granularity, the DMS will display the number of vacant spaces with directions and space type indicators like EV, visitor, disabled, reserved, etc.
• Some PGS solutions utilize per-space overhead indicator lights to display the occupancy status of each space.
• When a car leaves a parking spot (for per-space systems) or exits the facility (for counting systems), occupancy is updated and a new vehicle is directed to the vacant space.

Components of a PGS System

PGS Value Creation

A PGS saves time in locating available parking spaces. Time savings, in turn, leads to value generation for various stakeholders.

PGS Solution Types

PGS solutions can be grouped based on the method of vehicle detection. This choice drives all the main features and characteristics of a particular PGS including its accuracy, cost, level of user experience, and more.

Different solutions can be structured into several types based on these main characteristics:

• Vehicle counting vs. per-space detection
• Camera image analysis vs. direct vehicle sensing for vehicle detection
• Wired vs. wireless

PGS Selection

Considerations for choosing the right solution:

• Facility characteristics (e.g. entrance and exit lanes characteristics, new vs. retrofit, ceiling heights, etc.)
• Usage patterns
• Utilization levels
• Accuracy requirements
• Data granularity requirements
• Driver convenience goals
• Budget

Choosing your PGS solution: Counting vs. Per-Space, Hybrid Solutions

Selecting between these various solutions is typically driven by these several factors:

• Average facility utilization
• Target accuracy level
• Presence of high value/special categories spaces
• Facility complexity and drivers’ preferences

Average Facility Utilization

Current average utilization is a good initial, and most important, factor driving a PGS solution selection for a particular facility.

If the facility is, on average, 40-50% utilized, a PGS would offer limited value, since a driver can easily find available space without a PGS in place. Still, in such situation a different question arises – why the facility is underutilized and whether scaling down the available number of spaces via e.g. sub-leasing is an appropriate course of action. At the same time, a facility that averages 90% occupancy will experience high value from helping drivers locate parking faster and help the facility fill the last 10% vacancy for full occupancy.

While specific time saved by a per-space PGS depends on a wide range of parameters, including the facility’s characteristics, driver behavior, etc., in general, it grows exponentially as a facility fills up. Thus, as a rule, the higher the level of the current average utilization of the facility, the higher the value a PGS can generate for it.

Below is a graph demonstrating a correlation between the facility’s current average utilization and estimated driver time savings for a typical medium-sized parking garage. For example, at 60% occupancy, a per-space PGS solution would save an average of 1 minute of searching time per driver, at 80% – 5 minutes, and at 99% – 15+ minutes on average, reaching 30+ minutes when drivers must leave the facility in search of parking elsewhere.

In situations of medium utilization, a car-counting PGS can be a good initial solution. Vehicle counter systems are installed at the entrance and exit from an enclosed parking lot or a garage structure and count the number of vehicles entering and leaving the facility. Vehicle counting is an excellent way to measure the overall level of parking activity and approximate lot utilization and overall usage statistics.

For a vehicle counter to be a viable solution, the parking lot must be enclosed with defined and relatively narrow entrances and exits. Such a solution is inappropriate for municipal on-street parking and will work less for parking lots with multiple and wide entrances/exits.

Target accuracy level

An important consideration of counting solutions is “error accumulation”. While no vehicle detection and counting hardware is 100% accurate, best-in-class counting technology provides 98%-99% accuracy. And unlike per-space solutions, where this error is automatically resets every time a parking space is occupied or vacated for overall solution accuracy, such detection error accumulate in a counting solution until it is manually reset. When 1 to 2% errors build up with each counting detection event, in 10 days, the accumulated error can exceed 10%. The only way to minimize this problem is regular manual counting and adjustment or reset of the counting solution. However, there are human errors and factors, too: you cannot always be sure that a manual reset is 100% accurate.

Due to the nature and limitations of the counting solution, it is typically most appropriate when “order of magnitude” occupancy numbers for a facility (e.g. 40% vs. 60% vs. 90%) are sufficient. As summarized below, such data can still provide significant value to both drivers and facility owners. On the other end of the spectrum, per-space solution delivery always accurate and most granular actionable data for both drivers and facility owners.

Presence of high-value spaces

In addition to regular parking spaces, most facilities today have a limited number of special category spaces designated, such as EV, disabled, reserved, etc. Obviously, the availability of these spaces is a much more important factor for these category drivers than the total spaces available in the facility. Thus, the same “average occupancy” concept can be applied not only to the total spaces but to each of these categories to determine an optimal PGS solution for these drivers.

For example, let’s take a facility that is, on average, only 60% occupied, so a total count of PGS seems to be the right answer here. However, let’s also say that 20 EV spaces are, on average, 90% occupied. It follows that for the EV drivers using this facility, these spaces are high-utilization spaces and they will benefit significantly from having granular occupancy data about these spaces. In such situations, a counting PGS system can be complemented by per-space sensors for these high-value spaces, making it a so-called “hybrid” PGS solution. Having granular data for these high-value spaces would provide the facility owner/management with the analytical insights needed to make decisions about the corresponding capacity changes.

If a facility has a large percentage of the high-value spaces, e.g. > 50% of total spaces, from the cost-value and accuracy point of view, it starts making sense to consider a full-per-space PGS system.

Facility complexity and driver preferences

Let’s again take an example of a facility with 60% average utilization. But, this facility had a complex driving pattern resulting in highly-used areas next to most logical driving patterns and underused “pockets” where fewer drivers venture out. For this situation, a typical driver would experience more difficulties in finding a free space, effectively making it a higher-utilization facility for a typical driver.

Let’s also consider human behavior and driver preferences. In general, people prefer to park in “higher convenience” zones, e.g. next to the exit/elevators, etc. and, in general, prefer to park in the lower (first to drive in) levels of the facility and, in particular, try to avoid parking on the roof/open levels. Such preferences tend to lead to higher occupancy for certain areas/levels of a facility vs the theoretical “average” occupancy for this facility, increasing the perceived occupancy for an average driver and, thus, increasing the benefits of a more granular PGS system.

While thinking about counting vs. per-space PGS selection, it is important to note that, in principal, it does not have be one or the other. A counting solution can be viewed as “starter” PGS solution that can be expanded and grow with time to a “hybrid” PGS and a full per-space solution if required.

Tables below summarize some of the most important considerations driving an initial PGS selection between counting and per-space approach for a particular facility, with a “hybrid” solution potentially offering a balanced approach for many typical facilities.

Selecting between Counting and Per-Space PGS

Counting vs. Hybrid vs. Per-Space PGS: Driver and Facility Owner/Operator Benefits

Sensors vs. Cameras

Based on the vehicle detection method, PGS solutions can be grouped into two categories:

• Camera-based – indirect vehicle detection, based on camera image analysis, commonly employing machine learning algorithms to recognize various vehicle images.
• Sensor-based – direct vehicle identification using a range of physical detection or sensing techniques (magnetometer, radar, lidar, ultrasonic, light, etc.)

For detailed analysis of the pros and cons of PGS solutions, refer to the Nwave Smart Parking Planning Guide. Below is a chart excerpt from the Guide and important considerations.

Important Considerations:

Camera-based solutions

• Detection accuracy can be affected by environmental factors, such as lighting conditions, line of sight obstructions, and inclement weather including rain and snow. Cameras are not recommended for outdoor applications.
• Initial hardware, electric, and data infrastructure costs are significant.
• Each project requires individual planning and customization to take into account specific environmental conditions. Complex camera tuning to facility lighting conditions and learning driving patterns by highly-specialized technical staff is typically required for initial deployment, Ongoing monitoring, technical support and adjustment are required to accommodate changes in environmental conditions, driving, patterns, etc.
• Dirty camera lenses reduce recognition accuracy, regular camera lens cleaning is required to maintain accuracy..

Overhead wired per-space ultrasonic/radar sensors

• Overhead sensors do, generally, provide high detection accuracy for “normal” vehicles. However, it is not uncommon to see these sensors not being able to detect smaller vehicles and other objects that may be blocking the parking spaces (e.g., forklifts) – displaying the spaces as “free”, while not actually available for parking. Installation requires electric and data cabling and supporting infrastructure and is limited to indoor applications.

Ground wireless per-space sensors

• Wireless sensors are highly accurate and can be deployed in all indoor and outdoor applications, including locations with inclement weather.
• Ground per-space sensors work based on direct physical detection signal processing principles vs. indirect image-based analysis for cameras.
• Sensor deployment process is simple and is standardized, can be performed both the end client, and by a wide range of electrical and general contractors.
• Ease of installation and standard deployment procedures lead to easy scale up – same process to follow for 10-space and 1000-space project, indoor and outdoor, curbside or off-street lots.

What wireless PGS is, and how it compares with wired PGS

In simplified terms, a fully “wired” sensor-based PGS requires an extensive network of electrical and data wires and conduits to connect all critical components of a PGS system: vehicle detection sensors, lights, and Digital Messaging Signs (DMS). Wireless PGS, on the contrary, leverages battery-operated sensors and wireless communications between all major PGS components to minimize wiring and conduits infrastructure requirements.

Wiring was the accepted industry standard in the early era of Smart Building Parking Guidance systems, and for decades, there have been few alternatives. Wired PGS is costly to install and maintain, has accuracy limitations and is typically limited for indoor projects only. A wireless alternative is game-changing for small and large facilities that need a less expensive, flexible, and highly accurate PGS.

Modern wireless PGS solutions utilize data cloud architecture (e.g., AWS, Azure, etc.) for central solution management. Such architecture effectively manages multiple projects with thousands of sensors across multiple geographical locations, centrally deploys all software updates, and provides customer device status alerts.

The growing number of vehicles and lack of proper and designated parking spaces drive the need for parking management solutions, specifically PGS. Additionally, the growing pace of development of smart cities, combined with government support for the expansion of parking solutions, is driving the industry demand.

Cost savings versus wired solutions are among the most significant factors driving wireless PGS adoption.

Wired PGS solutions require extensive infrastructure, including power and data cables and overhead hardware to support wired sensor infrastructure.

This results in high per-space costs in terms of materials, planning, and installation labor. Long installation times delay revenue and increase opportunity costs. Installation of wireless PGS is fast and efficient in comparison.

For wireless PGS, adhesive-based installation of wireless sensors and a limited number of wired elements significantly reduces the need for wires and hardware infrastructure and allows full system installation planning in terms of hours and days vs. weeks or months for an average-size built project.

Below is a summary comparison of a high-level relative comparison between wireless sensor per-space PGS (taken as the “base” 1X/Y cost) vs. a traditional wired overhead sensor PGS for a typical medium-size covered/built facility. Section 9 presents an additional costs benefits analysis for a range of various types of PGS solutions.

Complex designs and high implementation costs were limiting factors for most facilities until now.

Cost, flexibility, and the speed of implementation are among the most significant factors driving wireless PGS adoption.

Simplified Planning and Installations

A wireless PGS solution’s key element significantly simplifies the planning and installation process and makes such solutions easy to modify. In his article, Peter recalls a case of loop wires embedded in the wrong place vs. painted ramp lanes, illustrating the high cost of errors in a wired PGS deployment. Wireless adhesive-installed sensors can be re-positioned as necessary to optimize locations for sensor counters and add or remove sensors in designated spaces. As the projects evolve, wireless PGS simplifies adapting to new conditions with the capability to easily re-program, add new or move existing DMSs and add or remove wireless sensors.

An important consideration for indoor PGS projects is to ensure adequate clearance between overhead-mounted hardware (sensor and signs) and the floor to ensure adequate clearance for vehicle traffic. These clearances, also referred to as “Above Finished Floor” (AFF), is determined by many factors, such as the parking facility’s geometries, local codes, and vehicle headroom requirements. In the case of a wireless PGS, with low-profile sensors installed on the ground, no per-space sensor hardware infrastructure above, and only a limited number of the overhead directional DMSs, it is clear how such a solution significantly simplifies PGS-related AFF planning vs. a typical wired solution and reduces the probability of costly mistakes.

Improved system reliability

Electrical and data cable or wired parking guidance system connection failures can be difficult to locate and resolve. Moreover, power or data connection failure of a single row of wired sensors can lead to a loss of the total parking management system’s accuracy.

Unlike fully wired and semi-wireless parking guidance solutions that still rely on electricity to power their sensors/cameras. Nwave PGS platform ensures that any local electric failure does not impact the functionality and accuracy of the overall automated parking guidance system.

In case of a local electric power failure, battery-powered sensors, backed up by 2-3x redundant long-range wireless base station coverage, ensure that all parking availability data continues to flow to the cloud, ensuring continuous operation and accuracy of the Parking Guidance Mobile App, operational Digital Signage and Analytics Dashboard.

PGS is a sustainable parking solution

The most significant source of U.S. greenhouse gases is the transportation sector, with most emissions coming from vehicles. The U.S.needs to make changes to reach net-zero emissions by 2050.

PGS can immediately reduce C02 emissions through less idling and searching for parking.Long-life sensor batteries eliminate the need for hard-wiring devices to AC power, reducing energy usage. Moreover, sensors with a replaceable battery reduce landfill and guarantee the most extended product life.

Additionally, modern wireless PGS is easily configured for permanent and dedicated EV charging stations on the fly.

Facilitating touchless payment solutions

Post-COVID, there has been an increase in reliance on digital methods for safety purposes. The market has seen an increase in demand for automation across different applications for system management and seamless user experience

Touchless parking allows drivers to pay their parking charges without touching any payment machine. Parking Guidance Systems improve efficiency and user convenience of payment solutions by giving drivers the ability to quickly find a free parking space. The same data sets give parking operators the ability to better and more efficiently manage all aspects of their parking assets, including increasing the facility’s utilization, facilitating compliance, supporting variable rate capabilities, and providing insights into the facility usage and drivers’ behavior.

Enabling efficient counting and hybrid solutions

Some wireless sensors, including Nwave, provide counting functionality. Such functionality allows the building of cost-effective wireless ingress/egress lane counting solutions to provide overall vehicle count and space availability for a parking facility without physical infrastructure, power, or data cabling at the install location. Combining counting functionality with per-space sensors for high-value or non-standard spaces (e.g., EV, Disabled, etc.), enables flexible “hybrid” solutions that provide the right mix of accuracy and granularity vs. cost for each facility and circumstance. Moreover, the wireless nature allows it to evolve seamlessly by “tacking on” additional per-space monitoring spaces for higher data granularity and accuracy.

The main objective of a good in-facility traffic flow management system is to efficiently direct traffic flows to various levels/areas of a facility to save space-searching time for an average driver. In essence, these systems are the means to deliver real-time occupancy data gathered by the PGS’s vehicle detection/sensing systems to the drivers. Accordingly, the selection of the type and the number of these systems would primarily be defined by the counting vs. hybrid vs. per-space PGS selection process discussed earlier.

Red-Green Overhead Lights

Red-green parking indicators can undoubtedly enhance the user experience. They provide a quick visual cue to drivers about the availability of parking spaces, potentially reducing the time spent searching for a spot. However, from a visitor’s perspective, these indicators may bring less value as some might believe.

While entering and navigating within a typical garage in search of available spaces, drivers typically need to know two types of information:

• Which floor has the spaces they are looking for.
• Directional information (left/right/straight) to quickly get to the available spaces once on the target floor.

A system of red-green overhead lights alone is insufficient for providing navigational information due to the multi-level and complex layouts of typical garages. Drivers would struggle to see all the available lights and navigate effectively in a 3D space. Therefore, most systems still require Directional Message Signs (DMSs), also known as Visual Message Signs (VMSs), to direct major traffic flow within the garage.

Directional DMS

Effective traffic flow management in large built facilities with multiple levels and complex levels layout can strongly benefit from directional DMSs positioned at key traffic intersections. The DMSs need to be large and bright to be clearly visible to be effective, which drives relatively high-power consumption. And although solar-powered wireless signage is feasible for outdoor, it may not be as bright and visible as mains-powered. For indoor garages, these signs are going to be powered by via electrical cables. Still, with some modermains powered DMS. At the same time, some modern DMS products rely on wireless data communication, eliminating the need for data (Ethernet) cabling or mobile internet connectivity, which allows to significantly reduce the costs.

Another trend we see with DMS development is full RGB matrix DMSs that display text or graphical information and can vary displayed information as project requirements change. It is easy to see how bringing these fully data-wireless fully-matrix DMSs into a wireless PGS solution can take the system cost efficiency, functionality, and flexibility to yet a new level.

A PGS system based on wireless sensors providing occupancy data and a pure DMS-based wayfinding approach can offer a superior user experience while keeping overall system costs lower than a typical red-green light wired system. Providing a bigger and more functional set of directional DMSs positioned at all key intersections with both direction and number of regular and designated spaces (such as EV charging, ADA, and visitors) can provide a very informative, intuitive, and efficient directional wayfinding experience to drivers.

Positioning smaller DMSs indicating the position and availability of special category spaces within the driving rows can further complement directional DMSs to efficiently direct such drivers, further reducing the incremental benefit of overhead lights over a DMS-based wayfinding approach.

While red-green overhead lights in PGSs can enhance the user experience by providing quick visual cues about parking space availability, especially in large and complex facilities, their necessity is debatable. From a cost and efficiency perspective, a PGS system based on wireless sensors and comprehensive DMS-based wayfinding offers a more intuitive and cost-effective solution. By providing detailed directional information and space availability, such systems can better meet the needs of drivers without the extensive infrastructure requirements of traditional wired systems.

Overhead Lights

While overhead lights can complement a wireless PGS solution, the value such lights bring to a PGS depends on the size and layout of a particular facility. Many smaller garages utilize a simple spiral unidirectional pattern that directs a driver through all the floors and all the parking spaces. A single entrance DMS that informs a driver about space availability on each level is sufficient for such facilities. In more extensive facilities with a more complex layout, directional DMSs would be beneficial to efficiently direct traffic flows to levels and areas of the facility with space availability.

In very large parking facilities, with hundreds of spaces per floor, and complex bi-directional driving patterns, in addition to the directional DMSs positioned at major traffic flow intersections, isle-mounted overhead light indicators can provide a cost-effective last-turn solution for drivers. A one-to-four overhead isle-mounted lights, where one light indicates the availability of at least one of the four nearby spaces, provides most of the incremental benefit of the overhead light solution in most such facilities, while still remaining a more cost-effective option vs. per-space overhead light option.

The Importance of Data Analytics Parking Lot and Garage Management

Data analytics are an extremely valuable tool for parking operations. Parking data insights drive everything from where and how a facility is used, to planning infrastructure repairs and mainteance and even predict demand and trends for optimized pricing and increased revenue.

How Parking Data Analytics Works in Lot and Garage Management

“Real-time analytics is the discipline that applies logic and mathematics to data to provide insights for making better decisions quickly. For some use cases, real time simply means the analytics is completed within a few seconds or minutes after the arrival of new data.” – Gartner

In parking, data analytics refers to converting data into information, knowledge, and insight to improve operations by understanding how drivers use parking spaces or garages. Transactional reporting delivers a higher level of understanding and insight into parking data, including parking diversity, frequency of use, space turnover, and duration of stay trends.

In practical terms, choosing a PGS solution comes down to choosing two main domains:

• Type of Vehicle Detecting/Sensing solution
• Type of In-Facility Wayfinding solution

As discussed above, to a large extent, the selection of the vehicle detecting/sensing solution largely defines the selection of the wayfinding solution. It is obvious that if you gather only ingress/egress total vehicle count data for the entire facility, you cannot do any level or directional wayfinding inside of the facility, simply because you do not have the data.

In addition to the available data granularity, the layout of the facility and the budget/costs considerations will, typically, be primary drivers for selecting the optimal type and number of the hardware elements for a specific in-facility wayfinding solution. As discussed earlier, we believe that a combination of entrance, level and directional DMSs provide the best value-vs-costs approach for a majority of built facilities.

Putting together all of the information discussed earlier, below is a practical step-by-step decision tree to assist in optimal PGS selection.

As technology permeates every aspect of our lives, it’s tempting to embrace every innovation that promises to make life easier. One such technology is wired ultrasonic sensors and camera-based parking guidance systems with overhead red-green LED parking space indicators, designed to guide drivers to available parking spaces quickly. However, while these systems might seem beneficial at first glance, a closer inspection reveals that they are not as necessary as they might appear.
Overview of wired PGS Systems with Overhead Red-Green Lights

Green and red lights, commonly seen in many parking facilities, have become synonymous with smart parking systems in the public’s perception. However, as newer systems emerge, it’s worth reevaluating their actual utility against the costs involved in a Parking Guidance System (PGS).

Traditional wired PGSs often include these overhead red-green lights to indicate the status of parking spaces—red for occupied and green for available. Initially, systems utilized individual space lights where vehicle detection sensors and lights were separate entities. Modern systems, however, employ aisle-mounted lights that indicate the availability of multiple spaces on both sides of an aisle—typically one light per four spaces (two on each side). In these configurations, lights and detection sensors are often integrated into a single unit to optimize hardware and installation costs.

Although aisle-mounted systems offer cost efficiencies compared to individual per-space wired systems, they still require extensive ceiling support, conduits, and cabling infrastructure. Additionally, the aisle-mounting of detection sensors can negatively impact the vehicle detection accuracy of these PGS systems.

To summarize, the key elements involved in a typical wired PGS system:

• Ceiling support infrastructure, conduits, electric and data cabling
• Wired vehicle detection sensors (camera-based or ultrasonic)
• Red/Green overhead indicator lights

Each element of such system has its own set of implication on the overall PGS accuracy, reliability, efficiency, user experience and costs.

PGS Systems with Overhead Red-Green Space Lights Triple Cost of PGS

While red-green parking indicators can enhance the user experience, they are a “nice to have” feature rather than an essential component. From a visitor’s perspective, these indicators are merely an add-on and not as crucial as some might believe. Let’s explore why.

While entering and then navigating within a typical garage in search of available spaces, drivers typically need to know two types of information:

• which floor has the spaces they look for, and, once entering the target floor,
• directional information (left/right/straight) to quickly get to the available spaces.

A systems of red-green overhead lights alone is insufficient for providing navigational information due to the multi-level and complex layouts of typical garages. Drivers would struggle to see all the available lights and navigate effectively in a 3D space. Therefore, most systems still require Directions Message Signs (DMSs), also known as Visual Message Signs (VMSs), to direct major traffic flow within the garage.

When drivers are properly guided to a parking row with available spaces, they can usually spot the spaces as they drive through the lane, even without the overhead lights. This makes the lights more of a beneficial “last turn” addition to the DMSs. Conversely, the limited directional DMSs included with wired systems offer minimal guidance to reduce overall system costs. This solution restricts directional information, relying heavily on overhead lights and providing limited utility to drivers.

At the same time, a PGS system based on wireless sensors providing occupancy data and pure DMS-based wayfinding approach can both offer a better user experience and keep the overall systems costs lower vs. a typical red-green light wired system. Providing a bigger and more functional set of directional DMSs positioned at all key intersections with both direction and number of both regular and designated spaces (EV charging, ADA, visitors, etc.) can provide a very informative, intuitive and efficient directional wayfinding experience to drivers. Positioning smaller DMSs indicating position and availability of special category spaces within the driving rows can further complement directional DMS to efficiently direct such drivers, further reducing the incremental benefit of overhead lights over a DMS-based wayfinding approach.

The Hidden Costs of Using LED Indicators in Parking Facilities

Assessing the financial impact of having overhead red-green indicators within parking garage guidance systems reveals a significant increase in overall costs. While these indicators can enhance user experience and traffic flow efficiency, they require a substantial investment compared to PGS systems that maximize wireless communications and DMS for wayfinding. The combined costs of the installation, maintenance, and energy consumption result in a tripling of expenses associated with these advanced systems. When evaluating the cost-effectiveness of PGS systems with red-green LED parking lights, it is essential to consider both the initial and ongoing financial commitments. The installation of these systems requires significant capital investment, covering the cost of hardware, supporting infrastructure, and labor. Additionally, ongoing maintenance, including cameras calibration and regular cleaning, LED lights and/or ultrasonic replacements cabling failures and associated repairs contributes to the long-term expenses. These costs can accumulate, impacting the overall financial viability of the parking facility. Moreover, any technological malfunctions or system downtime can lead to further unexpected expenses, thus challenging the anticipated return on investment.

High Cost of Installation and Maintenance

One of the most significant drawbacks of wired PGS systems with overhead LED indicators is their high cost. Installing these sophisticated systems requires substantial initial investment. The process involves not just the purchase of the systems hardware, but also provided an elaborate network of ceiling infrastructure to support deployment of these systems, conduits and cabling. This cost can be particularly prohibitive for smaller parking facilities or areas operating on tight budgets.

Moreover, the expenses don’t end after installation. Regular maintenance is necessary to ensure the system functions correctly, which entails additional costs. Camera-based systems require regular cleaning of the camera lenses and calibration, to ensure their optimal performance. Vehicle detection sensors in the PGS systems based on wired ultrasonic sensor have a limited total cycle life, leading to a choice between lower sampling rate and thus longer detection time delays, or more frequent sampling and a risk of sensors reaching the end of their useful life and needing replacement. These ongoing expenses can strain the financial resources of the facility, making it a less viable option in the long run.

Potential for Malfunction or Failure

Another significant concern is failure or malfunction. Many of the wired PGS systems with LED lights integrate detection sensors and the LED light into a single unit, or positional closely to each other and relying on the common electric cabling. With both sensors and lights susceptible to physical failures, such systems can present a range of problems even with a single malfunctioning unit. Electricity outages can also have significant negative impact on the wired PGS’s operation.

A malfunctioning system can lead to significant confusion and frustration among drivers. For example, when drivers rely extensively on the LED lights for navigation, even a single failure or incorrect detection can either send drivers on a wild goose chase or lead to the specific space not “visible” to drivers. With multiple failures, and in high-traffic environments, these malfunctions can escalate into larger problems, reducing the overall efficiency of the parking facility and leading to negative user experiences.

Further, as many of these systems are installed in such a way that a failure of one sensor unit can trigger the entire line of sensors and lights to stop functioning, both significantly impacting the accuracy of the vehicle counting and wayfinding efficiency of such systems.

Accuracy Limitations

Even the best modern camera-based systems offer a practical accuracy of c. 95%, leaving those 5% of spaces as potentially misidentified. Even wired ultrasonic overhead sensors, if placed in the isles, can miss smaller and shorter vehicles or other unconventional objects/vehicles occupying the spaces, negatively impacting the overall system’s accuracy.

From the financial point of view, inability to accurately detect these remaining, let’s say 5% of spaces could have a substantial lost revenue opportunity. For example, for a typical large 5,000-space facility, this 5% would mean that up to 250 spaces can be misidentified. With @$20/day per space rate, this could add up to $5k daily revenue loss, growing to $150k/mo and almost $2M per year.

From the driver’s point of view, having misidentified parking spaces, represented by the incorrect overhead light information can be particularly frustrating – an important consideration by itself, leading many garage operators away from displaying the per-space information using the light indicators. Driving to a green overhead light in the hope of capturing that one last premium spot, only to find the space being occupied can be a very frustrating experience, even worse than a long search for available parking spaces.

On the flip side, showing red indicators for spaces otherwise available can keep drivers from driving to these locations, perpetuating limited usage of these spaces and reducing the overall utilization of the facility. Locating such spaces accidently, can lead drives to lose confidence in the overall system’s accuracy, encouraging them to “double check” the system by circling through “red light” areas in high-demand locations, negating some of the key benefits why the PGS system was installed in the first place.

Though less critical in the lower utilization facilities or during off-peak hours, the above considerations become more important for high-usage facilities, during peak hours and for high-stress environments such as airport or hospitals parking facilities.

Limiting Vertical Clearance (AFF clearance)

Extensive ceiling support infrastructure, combined with the need to locate detection sensors and LED lights at a certain height optimal for detection and observation, can significantly impact the vertical clearance available for passing vehicles, making such systems particularly difficult to fit into older facilities with low Above Finished Floor (AFF) vertical clearance.

All or Nothing

Since these systems require significant fixed supporting infrastructure, such systems are typically designed and implemented for the entire facility, whether really needed or not, leading to a significant upfront cost. On the contrary, systems that leverage wireless communications can be deployed in a modular way, addressing the biggest paint points first, and thus reducing the initial capital outlay.

Overhead Lights Don’t Work on Rooftops or Outdoors

Another limitation of the PGS systems with overhead LED indicators is their inability to be installed on rooftops or in outdoor parking areas, necessitating the use of alternative vehicle detection technologies in these spaces.

Environmental Considerations

The energy consumption associated with the constant operation of LED indicators, as well as the environmental impact of producing, maintaining, and eventually disposing of these electronic components, cannot be overlooked. As facilities aim to reduce their carbon footprints, the adoption of non-essential technologies that contribute to energy use and electronic waste becomes a significant factor to reconsider.

A Better Approach

While overhead LED indicators are a modern solution, they are not the only way to improve parking efficiency. Traditional methods, such as better signage, can be just as effective when designed and implemented correctly. Clear, strategically placed signs can guide drivers to available parking sections and exit points, reducing the need for per-space LED solutions.

One promising alternative to overhead LED indicators is the implementation of Nwave Wireless PGS based on its high-performance wireless vehicle detection sensors. Such systems provide a cost-effective and reliable per-space solution for parking management. By deploying Nwave Wireless PGSs, facilities can achieve precise, real-time vehicle detection and wayfinding capability without the exorbitant costs associated with wired PGS systems with overhead LED lights.

Embracing Wireless PGS for Parking Management

Unlike wired overhead LED indicators, a Wireless PGS offers a more cost-effective solution due to their lower initial installation costs and simpler maintenance requirements. Wireless vehicle detection sensors, placed directly on the ground within each parking space, eliminate the need for extensive wiring and complex infrastructure. Additionally, their durable design minimizes the likelihood of malfunctions, reducing the frequency and cost of maintenance. Though electric cabling is still required to power DMSs, since DMSs are deployed only in a limited number of strategically selected locations, and by leveraging wireless data connectivity of such DMSs, the scope and cost of the needed conduit and cabling work is significantly reduced via wired PGS systems.

Since these wireless sensors rely on battery power, they continue detecting vehicles even in case of a complete or partial loss of power at a facility. This allows for de-coupling the vehicle detection functionality of such PGS systems from its wayfinding function, resulting in higher system’s resilience in case of power failures. If, for example, there is a power failure in a section of a garage, the specific DMSs in this section may not be functioning, but the data from these sensors would still be collected via redundant wireless coverage, allowing the total system and the functioning DMS to still show correct total, floor and directional space availability data.

By implementing wireless ground sensors, parking facilities can achieve efficient space management while significantly cutting down on both upfront and ongoing expenses. This approach not only enhances operational efficiency but also ensures a more reliable and sustainable parking management system.

Wireless PGS Advantages

• Lower Installation Costs: These sensors are easier and cheaper to install, requiring no infrastructure changes.
• Reduced Maintenance: Wireless sensors have longer lifespans and lower maintenance requirements.
• Improved Overall System’s Reliability: Battery-operated sensors continue providing occupancy data even in case of power failure.
• Energy Efficiency: They consume far less energy, contributing to overall cost savings.
• Wireless ground sensors. combined with DMSs, offer a modern and efficient alternative to the wired PGSs with overhead red-green LEDs in parking facilities. Here’s how they work and the benefits they provide:

Application on Rooftops and Outdoor Parking Facilities

Wireless ground sensors present a distinct advantage in rooftop and outdoor parking facilities, where traditional LED indicators often fall short. These areas pose unique challenges, such as exposure to weather elements, which can affect the functionality and durability of LEDs. However, wireless sensors are designed to withstand various environmental conditions, including rain, snow, and UV exposure, ensuring reliable performance over time.

1. Robustness in Harsh Conditions: The resilience of wireless ground sensors allows them to function effectively in open-air environments without the risk of damage from weather conditions. Unlike LEDs, which may require additional housing or protection from the elements, these sensors are built to endure harsh climates.
2. Efficient Space Management: In rooftop and outdoor parking facilities, accurately monitoring space occupancy is crucial for efficient management. Wireless sensors can be effortlessly installed in each parking spot, providing precise data on availability. This data can then direct drivers to vacant spaces through mobile apps and digital displays at entry points, streamlining the parking process.
3. Minimal Infrastructure Requirements: One of the significant benefits of wireless sensors is their independence from extensive infrastructure. They do not rely on complex wiring networks, making them particularly suitable for rooftop installations where running cables may be impractical or costly. This reduces installation time and expense, offering a more practical solution for outdoor settings.
4. Enhanced Scalability and Flexibility: Adaptability is key for parking management in varied environments. Wireless sensors can be easily expanded or reconfigured as needed, supporting dynamic changes in parking layouts. This flexibility is especially beneficial for seasonal adjustments, special events, or facility expansions, where the parking demands may fluctuate.

By integrating wireless ground sensors in rooftop and outdoor parking facilities, operators can overcome the limitations posed by LED indicators, enhancing operational efficiency while providing a seamless user experience.

Decision Matrix

To assist in determining the most suitable parking management solution for your facility, the following decision matrix compares key factors between traditional wired PGS systems with overhead LED lights with Wireless PGS systems with DMS.

Using this decision matrix, operators can evaluate their specific needs and prioritize the factors that are most critical for their parking management system, ensuring an informed and optimal choice.

Conclusion

The comprehensive assessment of wired Parking Guidance Systems (PGS) with overhead red-green LED indicators underscores the significant costs and limitations associated with these systems. While they may enhance user experience and streamline traffic flow, the substantial financial burden—stemming from installation, maintenance, and energy consumption—far outweighs the benefits. Additionally, the accuracy limitations, potential for malfunction, and impact on vertical clearance present further challenges.

On the other hand, Nwave’s Wireless PGS offers a compelling alternative, with lower installation and maintenance costs, improved accuracy, and resilience in power outages. Wireless ground sensors, combined with Dynamic Message Signs (DMS), provide a cost-effective and reliable solution for modern parking management. They are particularly advantageous for older facilities with low AFF clearance and rooftop or outdoor parking areas where traditional LED systems are impractical.

In conclusion, while the allure of advanced wired PGS systems with overhead LED indicators is understandable, the hidden costs and limitations necessitate a reevaluation. Embracing wireless technology, such as Nwave’s Wireless PGS, can lead to more efficient, cost-effective, and sustainable parking management solutions.

For parking managers, operations managers, and smart city planners who plan to utilize a Parking Guidance System (PGS) in a covered/garage environment a detection technology decision must be made—typically between wired ultrasonic sensors, camera-based system and wireless “puck” sensors like those from Nwave. Camera-based systems in particular have become increasingly popular recently and are seen by many as a modern choice for garage PGS applications.

While using LPR cameras for access control is a must-have feature for modern garage parking systems, using cameras for a PGS inside of the facility may not be an optimal solution when compared to wireless sensor-based systems.

Understanding the Technology: Wireless Sensors vs Camera-Based Solution

Wireless Sensors

Best-in-class Wireless Sensors are known for their high detection accuracy, long battery life, and ease of installation. These sensors use radio communication to provide real-time updates on parking space availability. They are designed to withstand harsh weather conditions and heavy traffic loads, making them ideal for both indoor and outdoor use.

• High Accuracy: wireless sensors can boast an accuracy rate of over 99%.
• Easy Installation: These sensors are easy to install and can be deployed in various environments, including indoor, outdoor, and rooftop parking.
• Long Battery Life: wireless sensors can come with a battery life of up to 10 years, providing long-term cost savings.
• Real-Time Updates: The sensors provide real-time updates on parking space availability, reducing search time for drivers and improving overall user experience.
• Directional DMS for Wayfinding: A set of strategically-placed and informative Directional Message Signs complement sensors to deliver flexible and cost-efficient wireless PGS solution.
• Increased Solution Reliability: With sensors operating on battery power, they continue operating and collecting occupancy data during local or total power outages, providing data for the system elements that remain functional (e.g entrance, directional DMSs).

Camera-Based Sensors

Camera-based sensors, on the other hand, use computer vision to detect and monitor parking spaces. These systems are often integrated with License Plate Recognition (LPR) technology to enhance security and provide detailed occupancy data. However, they require significant infrastructure investment, including high poles, power, and Ethernet connections.

• Multi-Functionality: Cameras can estimate occupancy and provide security surveillance.
• Accuracy Dependent on Conditions: Indoor camera accuracy ranges from 90-97% depending on lighting, obstructions, regular maintenance, etc
• Infrastructure Intensive: Requires significant investment in infrastructure like high poles, power, and Ethernet connections.
• Single point of Failure: With cameras and their overhead indicator lights typically wired to the same source of power, even a local power failure can lead to loss of accuracy for the total system.

Where do LPR Cameras Fit in?

License Plate Recognition (LPR) cameras are a specialized type of camera-based sensor used primarily for PARCS (Parking Access and Revenue Control Systems). They capture license plates and associate them with parking tickets, providing accurate vehicle identification and efficient entry/exit management.

LPR cameras excel in controlled environments with limited entrance and exit points. They require less infrastructure compared to general PGS camera-based sensors and offer reliable performance in identifying and tracking vehicles.

In fact, using LPR cameras for access control and wireless sensors for occupancy and parking guidance may be the most accurate and cost efficient overall solution for many garages.

Comparison of Accuracy and Reliability

Wireless Sensors

Best-in-class Wireless Sensors boast a detection accuracy of 99.9%, significantly higher than the industry average of 95%. They offer fast occupancy detection times (5 seconds) and maintain high performance even under challenging conditions, can reliably detect smaller and electric vehicles, non-conventional vehicles parked in parking spaces (e.g. golf carts).

Camera-Based Sensors

Camera-based sensors typically achieve an accuracy of 93-97% in real-life indoor conditions.

Assuming that a camera-based system can deliver, on average, let’s say 95% detection accuracy, from the financial point of view, inability to accurately detect these remaining 5% of spaces could have a substantial lost revenue opportunity. For example, for a typical large 5,000-space facility, this 5% would mean that up to 250 spaces can be misidentified. With @$20/day per space rate, this could add up to $5k daily revenue loss, growing to $150k/mo and almost $2M per year.

However, even indoors, line of sight limitations, bad lighting, large obstructing vehicles can further reduce real-life accuracy. Camera-based systems may also have hard time detecting non-conventional vehicles parked in the parking spaces.

Modern camera-based aisle-mounted systems use a single camera to monitor multiple spaces, typically from 2 to 4 per camera. While it seems like a great idea from the efficiency and cost point of view, there are several downsides to such approach that are typically not well understood. With each camera monitoring several spaces, a careful physical alignment of each camera and tuning of the image-recognition software needs to take place to ensure that each camera’s field of view is accurately mapped to the parking spaces layout and to take into account overlayed fields of view from multiple cameras. After years of operation, the system can come from out of alignment, impacting the detection accuracy and requiring a costly re-turning involving high cost specialized professional assistance.

Regular camera lens cleaning is also required to maintain the designed system’s accuracy. Without such regular maintenance, the accuracy of a camera-based system can deteriorate significantly.

Cost Analysis Installation, Maintenance, and Long-Term Benefits

Wireless Sensors

Best-in-class Wireless Sensors are relatively easy to install, requiring no pavement drilling. Their long battery life (up to 10 years) reduces maintenance costs. The initial investment is lower compared to camera-based systems, and the long-term benefits include reduced operational costs and enhanced user experience.

• Installation: Quick and straightforward, with minimal infrastructure requirements.
• Maintenance: Low maintenance costs due to their durable design and reliable performance.
• Long-Term Benefits: High accuracy leads to better space utilization and higher revenue.

Camera-Based Sensors

Camera-based systems require a significant upfront investment in infrastructure. Maintenance costs can also be high due to the need for regular calibration and software updates. However, they offer detailed data and enhanced security features that may justify the higher cost for some applications, though the accuracy and utility of such features may be less than expected.

• Installation: Requires substantial investment in poles, power, and Ethernet connections.
• Maintenance: Higher maintenance costs due to the need for regular cleaning and calibration.
• Privacy concerns: Though most modern camera-based system promise “on site” image processing and removal of the original video data, security and privacy of having internet-connect camera-based system is still a source of concern for privacy-conscious customers, such as high-tech enterprises, medical, government facilities.
• Additional Features: Additional data on vehicle types, license plates, video security benefits.

Due to a number of factors such as lighting conditions, line of site limitations, a wide range of vehicle types, colors and non-standard license plates, accuracy of such additional vehicle and license plate data may be limited. With a video security system already installed in a typical garage, an incremental benefit of having the additional security video footage from the system may also be quite limited.

Thus, though camera-based PGS systems promise to deliver a lot of benefits, they generally do not do either one particularly well – underdelivering on it’s core function of occupancy detection accuracy, while offering a set of side benefits also of a limited accuracy and utility.

User Experience, Operational Efficiency, and Increased Revenue

Wireless Sensors

Wireless sensors provide real-time updates on parking space availability, improving user experience by reducing the time spent searching for parking. This leads to increased operational efficiency and higher revenue for parking facilities.

Camera-Based Sensors

Camera-based systems offer more detailed data on parking occupancy and security. However, their lower accuracy and higher maintenance costs can impact user experience and operational efficiency.

Both technologies have the potential to increase revenue by optimizing space utilization and improving operational efficiency. The choice between them depends on your specific requirements and priorities.

Conclusion: Making the Right Choice

Choosing the right parking management solution depends on various factors, including budget, infrastructure, and specific needs. Best-in-class Wireless Sensors offer high accuracy, ease of installation, and lower maintenance costs, making them an excellent choice for most applications.

Camera-based systems, while more expensive and complex, provide detailed data and enhanced security features that may be beneficial in specific scenarios.

Ultimately, the decision should be based on a thorough analysis of your requirements and a comparison of the available options.

Below is a table presenting a high-level comparison of average installation times and relative per-space costs and the overall PGS solution value for a number of wired and wireless counting and per-space PGS variations for a typical 400-space, high-utilization (80-90%) garage with medium driving pattern complexity. This comparison is not inclusive of all possible solutions available in the market, but rather aims to provide a high-level comparison of major PGS solution categories. Individual systems from different providers differ substantially in terms of costs, accuracy and value provided. Thus, this table aims to present a simplified view of “average” system in each category, based on the authors’ best information. For the same reasons, relative values are used for the “Cost per Space” and “Solution Value” estimates, taking one of the solution options as the “base” (100%) value.

Cost benefit analysis observations

Wireless counting vs. per-space solutions:

Wired ultrasonic solution with overhead per-space lights is less than optimal.

Per-space wireless PGS with Entrance (WLS) and Directional DMS (WLSD) present the best value for this particular facility vs other solution options:

Modeling Value Generation

Specific value (NPV, ROI) that can be generated from installing a PGS system in a specific parking facility can be estimated based on several considerations and drivers, including:

• Nature of the facility (free or paid parking)
• Nature of the facility owner (e.g. enterprise vs. commercial parking operator)
• Current facility utilization
• Expected increase in facility’s utilization due to the PGS’s installation
• PGS costs
• Parking costs (for paid parking), implied value of people’s time (for free parking e.g. employees, customers, etc.)
• Average base paid utilization for each space (for paid parking)

Please see below several examples how some of these key parameters impact estimates of value generated for a typical 400-space high-utilization garage we considered in the section above by a typical Wireless Nwave PGS solution with directional DMS (WLSD):

Free Parking: Value Increase vs. Time Saved per day and Implied Value of Driver Time

Assumptions:

• Current facility utilization: 90%
• Hourly parking rate: none

Paid Parking: Value Increase vs. Paid Base Utilization and PGS Utilization Boost

Assumptions:

• Current facility utilization: Average Base Space Paid Utilization
• Hourly parking rate: $2/hr

Wireless PGS is a highly configurable, flexible, robust, and easy-to-install evolution from expensive and restrictive wired systems. Cloud-based PGS platforms streamline operations, improve revenue, increase asset use, and reduce emissions while making parking fast and easy. This, combined with the exponential growth of cars on the road and a significant push by smart cities to drive green sustainability initiatives, is expected to speed PGS adoption.

About Nwave

Nwave is powering the world’s leading tech enterprises and proptech projects. Because there are no cables, planning and deployment are flexible and fast, with installation and launch typically requiring a tenth of the time of traditional systems. Initially designed for outdoor environments, wireless sensors are becoming increasingly popular in indoor environments due to the ease and simplicity of installation.

¹ Fact MR, April 2022
² IoT Insider, October 2022
³ Global Market Insights
⁴ Future Market Insights Global and Consulting, June 2022
⁵ Precedence Research