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Smart Parking System
Smart Parking System
Team Members
1.Diksha Raj
2.Ananya Agrawal
3.Lakshaya K
Faculty Mentor
Dr. S Girirajan
(Ctech)
SRM SDG INTERNAL HACKATHON 2023
Problems Statement: Smart Parking system for 2 and 4
wheelers (SDG 11 – Sustainable Cities and Development)
1. Smart Parking Systems: Implement smart parking systems that use sensors and cameras to monitor
parking spaces in real-time. These systems can provide information about available parking spaces to
drivers through mobile apps and electronic signs, reducing the time spent searching for a parking spot.
2. Mobile Apps and Reservation Systems: Develop a mobile app or use existing platforms to allow users to
reserve parking spaces in advance. This can help reduce congestion and ensure that parking spaces are
available when needed.
3. Multi-Level and Automated Parking Structures: Construct multi-level or automated parking structures to
increase the parking capacity in densely populated areas. These structures can efficiently utilize limited
space and reduce the need for surface parking lots.
For Example: Business Model for Smart Parking Solution in SRM Nagar
Estimated Users:
SRM Nagar is home to a large university campus with students, faculty, and visitors. Let's estimate
500 daily users for the smart parking solution.
Pricing Model:
Price per Parking Spot: Charge users a fee for each parking space.
Price for Open Parking Spaces: $2 per hour
Price for Reserved Spaces: $5 per hour
Monthly Subscription: $50 for unlimited access
Price for Mobile App Usage: Offer the app for free and charge a 10% convenience fee for
reservations.. SRM SDG INTERNAL HACKATHON 2023
Business model
Business Collaborations:
SRM University: Collaborate with SRM University to provide smart parking solutions for students and faculty. Offer special
discounts for university members.
Local Businesses: Partner with nearby restaurants, cafes, and shops to provide special discounts for your users who visit these
establishments.
Local Transport Services: Integrate with local transportation services, such as rickshaws or shuttles, to provide easy access from
parking areas to the university campus.
Revenue Estimation: If you have 500 daily users, and 20% of them make reservations at an average of $5 per reservation, you'd
generate $500 daily from reservations alone. Additional revenue would come from hourly and monthly parking fees.
Costs and Expenses: Account for infrastructure setup, maintenance, server costs, employee salaries, and marketing expenses. For this
scenario, let's say it amounts to $5,000 per month.
Data Security and Privacy: Invest in data security measures to protect user information and payment data, allocating a portion of your
expenses for this purpose.
Scaling Strategy: Plan for expanding to nearby areas or universities if your smart parking solution succeeds in SRM Nagar.
User Feedback and Improvement: Continuously collect user feedback to enhance the user experience and improve your services.
Legal and Regulatory Compliance: Ensure compliance with local parking regulations and data protection laws
Comprehensive Integration:
Implementing a smart parking system involves the comprehensive integration of various technical components, including
sensors, cameras, data communication infrastructure, user interfaces, central servers, reservation and payment
systems, LED displays, security and surveillance systems, access control systems, data analytics and reporting modules,
mobile apps for users, and admin dashboards. Ensuring the seamless integration of these components is crucial for the
efficient functioning of the system.
2. "A Smart Parking System Based on Mobile App" by Min Chen, Jie Shao, Li Huang, and
Wei Wang
3. IEEE Xplore
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SRM SDG INTERNAL HACKATHON 2023