Frost & Sullivan 2021 China Smart Parking Report
Summary from Frost & Sullivan’s 2021 China Smart Parking report:
The need for quality parking data
Parking heavily outstrips supply in China, with just 80 million public spaces available to accommodate more than 281 million registered vehicles. According to Parkopedia’s own 2021 Driver Research, almost 70% of drivers expect automakers to provide them with accurate parking information as part of their connected vehicle services, and nearly all respondents are willing to pay a surcharge for this.
The Future of smart parking in China
The summary discusses the benefits and limitations of leading solutions for common parking problems in China, such as:
- AI-powered High-Resolution Cameras
- Indoor Positioning with Ultra-Wideband (UWB)
- Mechanical Stereoscopic Parking Systems
- Contactless Payments
- Autonomous Valet Parking (AVP)
The comparison of leading parking service providers
The project compared parking service providers by the coverage and accuracy of their static and dynamic data, for almost 4,500 on-street and more than 1,400 off-street parking spaces, across 10 major cities in China.
Parkopedia was found to be the leading provider for coverage and accuracy of static data in all 10 cities in both off-street and on-street static data. For dynamic data quality, Parkopedia ranked 1st in all 10 cities for on-street, in 8 of the 10 cities surveyed for off-street.
Commenting on the results, Andy Guo, Executive Director at Frost & Sullivan, added: “The explosive growth of the number of vehicles has raised new requirements for smart parking solutions, which rely heavily on the performance of parking data. With innovative data collection technologies, Parkopedia takes the lead in the highly fragmented China parking market. Its sophisticated data collection method allows them to deliver parking data with an outstanding coverage rate and the highest accuracy.
“Parkopedia offers the most complete, detailed and accurate parking information and services, which are also their competitive advantages when compared with other parking data providers in China. Its sophisticated availability prediction method allows it to deliver parking data with an outstanding coverage rate and the highest accuracy. Parkopedia ranked 1st out of 10 providers in this thorough assessment.”
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