Welcome to 2021, the era of New Normal. With things normally being restored, one is bound to encounter an everlasting problem, ‘The Parking’! With life restored to normal, we will again face the issue of parking the vehicle around. Is this an opportunity for something really big? Are you thinking about how to make a parking app? You can never be this right before!

Parking apps are a true catch for drivers, helping them save time and money. Besides, these tools are incredibly useful for urban infrastructure, as they reduce inner-city traffic, reduce the number of accidents and improve the use of space. Why do they have an everlasting need ahead?

• Almost 30% of the traffic in cities is caused by inappropriate parking, IBM research suggests.
• Searching for Parking Costs Americans $73 Billion a Year.

One must have realized the potential of this industry by now. Still, an entrepreneur needs to know everything about parking apps well in advance before one begins to strategize the plan. Let’s go ahead with the Whys.

Why Invest in Parking Industry?

Individuals do not want to spend their time searching for parking spots. By developing these applications, the app owners are minting a lot of money as these not only provide users with convenience but also give them a sense of security. The futuristic success of these apps is evident from the stats listed below.

1. The Global Car Parking Lift Market Growth is anticipated to rise at a considerable rate between 2021 and 2025, suggests research by Marketwatch. 
2. The global smart parking market is expected to grow to some 3.8 billion U.S. dollars by 2023, at a CAGR of 14 percent, a Statista report suggests.
3. The global smart parking market was valued at $6.05 billion in 2019 and is projected to reach $11.13 billion by 2027, registering a CAGR of 12.6%. Source: Allied Market Research

These stats highlight the high prospects of the parking industry and the increasing demand for parking apps in the days to come. So how are the best in the parking industry doing in their business nowadays?

A Look at The Best in Parking Industry

One must be familiar with the famous parking app, Parkmobile. ParkMobile is the fastest-growing mobile app for parking. It focuses on providing more cities with its services than the number of locations in a particular city it serves.

In January 2018, BMW acquired the ParkMobile app and the app reached a user base of 22 million users in over 1000 American and European cities.

ParkMobile allows you to park primarily in three ways, including Park Now, Parking Reserve, and Event Parking. For both Android and iOS devices, this app is available.

By now, you must be intrigued into building a parking app to make money from this ever-evolving industry. Let’s get started!

Creating a Parking App

While the concept may sound easy, it is not. It has a lot more complexities that one may come to know as one digs deeper into the industry. Creating a parking app may have various business directions and not only one, like parking at a scheduled time, or parking at a place, or even a mix of them.

1. Parking at a time

In this direction, one may provide parking according to the booking time, irrespective of the place. One may provide parking on an immediate basis or one may provide scheduled parking to customers. Parking fees may vary accordingly.

2. Parking at a place

In this direction, one may provide specified parking according to proximity. This might be limited to a region or parking lot it navigates. It is quite useful for parking outside malls or shopping centers. One may provide far-away parking or closer parking from the destination. Parking fees may vary accordingly.

One may think of integrating these two directions into one app, which is absolutely fine. It all depends on the business model and vision behind it.

Below is an infographic depicting the walkthrough of a parking app.

6 Step Guide on How to Create a Parking App

We have below a brief 6 step guide on how to create a parking app and go about your business most effectively.

Step1: Determine your goal and decide what will be your business model going forward.

Step2: Perform in-depth market research about parking lots around, analyze your competitors and the business potential in your niche

Step3: Pick an app development team, like Code Brew who has skilled expertise in the field and can perform wonders for you

Step4: Choose innate design because this becomes a part of your marketing strategy to woo the potential customers

Step5: Choose key features to integrate into your parking app after deep R&D in the same industry

Step6: Create an MVP for your model and keep sight of feedbacks and reviews for improvement if any.

After completing all of the above-mentioned steps, one may launch the app in the market. You are ready. But to stand out among the competitors, one must constantly look to integrate new and next-gen features into the app to stand out.

Summing Up…

This is about how to make a parking app. Want to know about features one may integrate into such an app and what features one may put in extra to stand out? Stay Tuned with Codebrew for more details.