Smart parking systems would provide real-time visibility into the availability of parking spaces across a city. Residents could identify and reserve the closest available spaces. Traffic wardens could recognize non-compliant usage. And municipalities could introduce variable pricing.
• New things created: Connected parking spaces, parking meters
• New data flows: Space availability
• Process innovation: Pricing and payments, enforcement, finding parking spaces
• People impact: Traffic wardens, citizens, drivers, city planners
The potential value from the Internet of Everything would come from a projected 30% increase in compliance, the sale of city data, reduction in traffic congestion, and increased revenue from dynamic pricing.