Americans alone drive nearly three trillion miles a year. Every driving event requires a place to park the vehicle. Locating parking spaces is often a frustrating and expensive endeavor. In fact, some studies indicate that between 30% and 50% of intra-city traffic is caused by people trying to find parking.
ParkMe operates a free app that alerts users as to the best parking options around their destinations. In determining optimum real-time parking options, the ParkMe app typically takes into account such issues as parking lot and metered street availability as well as sign restrictions and street cleaning schedules. The app also features a “rate calculator”, which automatically calculates the total price of parking, based on the amount of time a driver would like to stay.
Another dimension of the ParkMe app consists of notifying users when their meters expire. This notification enables users to wirelessly deposit more money in the meters, thereby avoiding the risk of receiving tickets and the inconvenience of shuttling back and forth to the meters.
While ParkMe may shake up the $30 billion (US) parking industry it is important to realize that ParkMe’s business model is congruous with powerful industry players. For instance, one of the primary concerns for local businesses is reasonably priced and highly accessible parking. Cities not only want to placate their local businesses but desire to maximize their parking related receipts. Further, ParkMe enables local parking operators to promote their parking spaces to drivers searching for parking options in real time.
ParkMe has more than 25,000 worldwide locations in more than 500 cities, 19 countries and 3 continents. ParkMe generates its revenue from licensing its technology to navigation and auto companies as well as for the lead generation it provides to parking operators.Efficient Parking App,