SWOT Analysis of Smart Parking:
1.Advantage
1.Improve the utilization of parking lots: through the intelligent parking APP, parking lots can more effectively manage parking resources, improve the utilization of parking spaces, and increase income.
2.Provide users with a full range of parking service experience: intelligent parking APP can provide online parking fee payment and other functions to provide users with a full range of parking service experience. Compared with the traditional parking lot, the owner also needs to queue up to pay for the parking space, which not only wastes the owner's time, but also affects the efficiency of the parking lot.
The most typical success stories of smart parking applications are as follows
ParkWhiz makes money by charging user fees, partnerships, value-added services, advertising and more, becoming the most popular and only smart parking app in the United States, which is widely welcomed by the American public. Therefore, this successful application case can be used as a reference for the commercialization of smart parking applications in Ireland.
2.Weakness
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Dependence on technology: If the company fails in technology or is unable to innovate continuously, it may lead to product lag and decline in recovery.
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Customer acceptance: Some customers may not be used to or accept intelligent parking systems, reducing the potential market.
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The cost is significant. Implementing a smart parking system can require a significant investment, increasing the financial pressure on a company.
3.Opportunity
1. Meet the need of smart citizens: Expand into new markets and cities to cope with increasing urbanization
Integrated with smart city initiatives for better urban planning and traffic management
4.Threats
1. lack of funds :Limited financial funds are available for start-up costs and application launch
2.New competitors :other new technology may offer the same service in other cities,for example create a smart parking website.