The growing number of vehicles and cars in the urban cities has lead to major commute issues and one of them is the lack of car parking space. That is the reason the drivers spend so much of their time searching for a parking spot.
As digitalization is becoming a major trend and has gained huge momentum, it helps to solve all the problems. A mobile app for parking is a good idea to invest in and is becoming an inevitable part of our lives. The on-demand parking app helps the users to locate the nearby parking slots and book them prior in a much convenient manner.
Well, there are a plethora of mobile app development companies that offer featured rich parking apps for the customers. Let’s dive deep into the features, cost, benefits, and more to develop a parking app. So let’s begin:
Rise of Global Smart Parking Market
As per a survey, there is a tremendous increase in mobile applications, and in 2024 the downloads are expected to be 139 billion from the Google Play Store. The smart parking market continues to thrive and is expected to reach $43 billion by 2025 with a CAGR of 20 percent.
- The market is projected to reach $11.13 billion in the year 2027 with a CAGR of 12.6%.
- Asia Pacific would see the highest CAGR of 14.3% during the year 2020-2027.
- As per a report by Market Research Future, global parking apps are expected to rise to $7 billion by 2023.
- The apps are ultimately getting huge revenue, becoming the major reason for the business growth.
Categories of Parking Apps
Parking applications aim to fulfill various parking requirements. You must know about your competitor before you enter the market. The main categories for parking apps are:
1. By functionality
For Management
It has specific tools that allow managing- means it allows the driver to find and reserve a parking spot and pay for it.
For Assistance
Another category of apps has a different function, as the tools help drivers park safely.
2. By Geographical Coverage
Global
When the apps are startups, it is introduced in a specific region, but with popularity the scope increases. The app spreads across different countries. One example of such an application is Kerb.
Local
When the app works for specific countries or cities only, it comes under the local category. One of the examples of such an application is ParkNYC.
3. By Parking Time
Parking on the Fly
These apps allow the parking spot to be discovered on the spot. It does not allow prior bookings.
Parking in Advance
The app allows the user to book the parking spot beforehand and also pay to the app before they decide to park.
4. By Parking Place
On-Street Parking
These tools let you park your car temporarily along the footpath or on the street.
Off-Street Parking
This can be used both indoors and outdoors. It includes a garage, private parking and more.
How does a Parking App Work?
If you are planning to develop a productive parking app with seamless functioning. Here are a few of the easy steps that allow you to reserve spaces for their car promptly:
1. Search
After the app installation, the users of the app use GPS navigation to search for the details. They can also search for the details manually. The users can discover all the closest areas to the park.
2. Compare
There are tons of parking choices with an array of slots to select from. Users can compare the choices and depend on the distance, price, and location they can book their parking.
3. Spot Reservation
After the comparison, the user can book the reservation spot and then receive a passcode for the same.
4. Payment
There are a lot of choices that allow the users to make the payment. A few of the digital methods include Debit/Card, PayPal, and more.
5. Drive Assistance
There is in-built navigational assistance of the parking app.
6. Car Parking
This allows the users to park their vehicles at the spot they have reserved.
Revenue Model for Parking Apps
1. Commission Based
This is one of the major monetization methods. For every booking made for a particular space on the platform, the app owner can charge a certain amount to the user. This way, the parking app owner earns a commission fee when someone books for a parking slot.
2. Subscriptions
This is another revenue model quite beneficial for the app owners. It allows you to offer subscription methods-can be weekly, monthly or quarterly. The users can subscribe and make the payments in advance. This is the best solution for the users who visit frequently, as they don’t have to pay every time they use the app. This enhances the customer experience and in return allows you to increase the revenue.
3. Reward Points
This is yet another way where users can make money through parking applications. It allows you to give reward points to the users for the parking services they avail themselves of through the app. This attracts a loyal user base to your application and there is a sustained revenue collection.
Features to Add for Developing a Parking App
To offer a seamless experience to the users, it becomes crucial to integrate features that are listed below:
User Panel
1. Register
This feature allows creating accounts on the app by filling in their relevant details such as e-mail, contact number. Moreover, give the users an option to sign up/sign in using their social media accounts for quick registration.
2. Track vehicle location
The GPS feature allows the user to track their location, the smart parking app can suggest feasible parking options to them.
3. Search
It enables users to search for all the available parking spaces in their preferred location.
4. Schedule booking
It allows the users to reserve booking in advance, which is the main objective behind using parking apps.
5. Make payments
It can include both advance payments and payments after the service period is over. It includes digital payment methods for the ease of users.
6. Provide ratings and reviews
This is the most essential feature for maximizing user engagement.
Admin Panel
1. Registration
It is similar to the registration feature in the user panel. The user admin can sign in via different methods.
2. Add Slots
The admin can add or reduce the parking slots as per the availability of the users.
3. Manage Pricing
Here, the parking lot owners manage the parking fees that they are going to charge the users.
4. Check bookings
They can track the bookings along with the bookings so that no two users book the parking slot twice.
5. Accept payments
The parking lot owner can accept due payments from the users. The digitized payment options have made it a preferable option for the users.
Advanced Features
1. Vehicle Tracking
With the help of such an advanced tracking feature, even if the user forgets where they have parked their vehicle, the app helps to track their car. This also ensures your parked vehicle is safely located, and you can track it anytime.
2. Nearby Place Suggestions
When the user uses the GPS feature, the parking spot application will suggest all the nearby and most suitable parking places for the users. Also, in case at that spot the parking is not available. The users can search for nearby landmarks and park their vehicle there which makes it more convenient.
3. Push Notifications
This is the feature you certainly cannot miss out on. Well, push notifications helps in keeping the users engaged. All the messages related to the payment, request, discount, and app updates are being sent to the users. They can check it without even have to visit the app again and again.
4. Multiple Cities and Locations
Under this feature, the users can find out the different parking places and offices in different cities. Therefore, with ease, the users can find the most suitable parking places for them.
How much does it cost to develop car parking location apps?
The cost of developing a parking app depends on various features and functionalities. The major factors that help you decide the car parking finder mobile app development cost are:
- Testing and Marketing Platform for app development
- Design
- Development
- Features and Functionalities
Ready to develop a Smart Parking App?
As there is a continuous rise of vehicles in urban cities, it is becoming unavoidable that mobile apps for parking will become crucial for the improvement of the city. The entrepreneurs must take time and effort and invest in a mobile app parking solution.
If you have decided to digitalize your parking, ToXSL has an expert team of developers to offer solutions and help you improve your city. Get in touch with us now!
