The Future of Parking Lots: Trends And Opportunities for Businesses | Content | 1

The Future of Parking Lots: Trends And Opportunities for Businesses

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Many entrepreneurs believe that parking lots are just places for people to put their cars. But the world is changing, and that’s no longer the status quo. Top leaders are taking a more holistic approach and turning a once unsexy topic into something that everyone in the C-suite cares about. 

The purpose of this article is to explore the future of the humble parking lot. We take a look at some of the trends and opportunities for business, and how they will likely develop over the coming years. 

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Place-making is one of the most exciting parking lot trends and it’s turning them from a drab reality of urban living to something more communal and exciting. Essentially, place-making involves turning parking lots into destinations themselves, instead of merely a “derived demand” from consumers looking for somewhere to park their vehicles before going on a shopping spree. Today, we’re seeing this process unfold each time someone sets up a food truck or pop-up shop in the parking lot itself. Future parking lots might be home to art galleries and even gardens to make them more attractive, engaging, and appealing. 

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Green Parking

We’re also likely going to see entrepreneurs getting more interested in the concept of green parking. People want to go to parking lots that don’t pave over nature, but actually provide some sort of value to the environment. It’s the ultimate retort to the famous Joni Mitchell song lyric, “They paved paradise and put up a parking lot.” Many business leaders are now wondering whether we can have both. 

Green parking aims to conserve water, reduce vehicle emissions, and generate clean energy. As such, many of these eco-parking lots have solar panels, electric charging stations, and systems to recycle or use local water sources. Rain harvesting technology and semi-permeable pavements are accelerating this process, enabling local businesses and communities to put rainfall to good use (instead of simply allowing it to wash away through the regular drainage system). 

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Smart Parking Technology
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We may also see the rise of smart parking technology in the near future, given the increasing sophistication of modern vehicles. Companies like EverLine Coatings and Services will continue to provide bay marking services, but cameras, sensors, and software will be able to more effectively use these to reverse vehicles into tight spaces without human assistance. 

Parking areas are suitable choices of geolocations for gathering spaces to check in via geomining smartphone apps built on blockchains, which are rewarding visitors and generating traffic among many useful features.

Smart parking technology will also reduce the need to pay machines for time spent in the parking lot. Companies will be able to set up systems to charge customers automatically based on automatic number plate recognition and send them bills to apps on their phones. 

At the same time, companies will be able to spot more non-customers using their parking spaces illegally. They can then use this information to see whether they need to implement control measures. 

In summary, these trends are going to change the way that companies interact with their customers. Better, smarter, and more convenient parking lots enhance customer loyalty and improve worker satisfaction. They may also help firms meet their corporate responsibility targets.

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