Smart Parking, A Silver Bullet for Parking Pain by INRIX

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You Are Here:Smart Parking, A Silver Bullet for Parking Pain by INRIX

Today, INRIX Research launched the first ever study to quantify the economic and non-economic costs of parking pain. The study combined data from the INRIX Parking database of 100,000 locations across 8,700 cities in more than 100 countries, with results from a large-scale survey of nearly 18,000 drivers in 30 cities across the US, UK and Germany.

Our research found that the total economic impact of parking pain in the UK is more than £30 billion a year. It’s also a universal problem, costing drivers in the US and Germany dearly as well at $96 billion and €45 billion respectively.

It’s clear that parking is causing considerable pain, but what’s the underlying problem? While 71% of UK drivers said there isn’t enough parking available, occupancy for spaces in the UK can be as low as 50%. We have an information problem more than a parking problem. A problem that technology can help fix.

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