Smart parking solutions are providing improved visibility and effectiveness for both parking enforcement officers as well as drivers. Besides, the IoT-powered technology proves to be Agile, intelligent, and adaptive. The global smart parking market was worth $6.05 billion in 2019 and is expected to grow to $11.13 billion by 2027.

Omri shafran, the founder and CEO of Surespot inc, have some big words to say regarding the list of advantages carried by this smart parking technology thing. The ever-growing traffic congestion and uncertainty in the parking lot availability increase hassles.

In this regard, the smart parking Technology ensures optimized parking space usage while driving the parking operations thoroughly. In addition to that, it also improves the efficiency of well-designed parking solutions.

In this article, you will come to know regarding the smart parking solutions advantages and limitations.

The parking management systems can ensure giving the benefit to the drivers needs without compromising on living and Recreation space.

· The smart parking solutions ensure simplifying the parking process resulting in less guesswork while also reducing unpredictability. Real-time monitoring is one of the many benefits of smart parking solutions.

· The parking IoT solutions can help find the space without wasting one time around the jam-packed parking lot.

· Business and law enforcement authorities are adopting smart parking solutions and can ensure safety by notifying drivers regarding when they are about to leave the vehicle. The traffic law enforcement authorities also get the opportunity to update the efficient framework of parking violations.

· Monitoring systems are also very essential when it comes to incorporating smart parking solutions. The parking team can get alerts regarding the parking violations and the situations where the driver has parked the vehicle in the non-designated spot.

· Optimization of the space is a common issue. The tight and busy urban environment face issues when there are high chances of traffic jam. So for the mitigation of the traffic jam problem, the smart parking solutions will allow the city residents to save production time.

· The availability of the IoT-based parking facility management tools ensures convenience to the business owners for making the most of the available space. The parking management system automatically adjusts the parking fares that will be based on the current Occupancy.

· The flow of vehicles by analyzing parking routines is one of the topmost benefits of smart parking solutions.

· The connected parking management system turns out to be the missing variable in the decision-making process to ensure additional clarity and insight for parking Optimisation.

· When you have real-time driver data, it becomes easy to determine the complex seasonal patterns and Trends.

· The wide range of behavioral and environmental insights that smart parking solutions offer ensures the convenient flow of vehicles throughout the year. The optimized use of the parking spots accordingly is a benefit.

Omri shafran Houston says that although the smart parking proves to be one of the topmost technologies in 2021, there are certain challenges associated with smart parking solutions.

· Implementation and coordination with multiple departments turn out to be challenging. Besides, the hardware and software need synchronization with various city departments like the parking owners or the revenue collection department, traffic police, local corporations for the regulations.

· The approval process takes a lot of time, thus leading to overall time loss.

· Existing parking operations usually find compromises with the person in charge that can become the source of the problem.

· Adaptability to technology turns out to be a huge issue in most developing countries. The utilization of smart Technologies is an obstacle for the general people.

Smart parking technology, as per Omri shafran texas, can ensure allowing the users to monitor the availability and unavailability of the parking spots. The goal is automation and it decreases the time spent manually searching for the optimal parking lot.