Parking Apps Are on the Move

According to a Gartner survey, parking apps are in high demand among motorists, ranking only behind mapping and traffic updates. IBM's Commuter Pain Index study cites estimates that over 30 percent of city traffic is caused by drivers looking for parking. Clearly there is a need for better solutions to finding parking.

The number of apps serving as intermediaries, connecting cities and parking facilities with drivers in real-time continues to increase. Using smartphone technology as a payment gateway, they are beginning to enable payments for other transactions as well (e.g. car washes, convenience stores).

Companies in this space include Pango, ParkMe (partnered with Audi), Parkopedia (BMW's parking info provider), and Google's Waze.

Benefits include timely and efficient guidance to parking spaces, which reduces congestion, fuel consumption and emissions, and crash-risk exposure. These apps can also permit extending parking time remotely, saving the user from having to physically go to the meter.