Thanks to a strong ROI, parking time management has outperformed many other ANPR applications recently, according to a new report from IMS Research.
Michael Arluck, the report’s author, said: “Parking time management can help car park owners to drive revenue growth by identifying and charging vehicles that have stayed beyond their allotted time limit. At the same time, retailers and shopping center owners will often welcome, and even request, the installation of parking time management systems to help free up parking spaces for new shoppers and thus further drive retail sales.”
In the UK, pressure on law enforcement budgets has led to suppliers switching their focucs to parking monitoring, says IMS. Even as the EMEA market as a whole declined in 2011, the parking segment increased by over 4%.
“The car park segment in Europe has evolved into a different business model than simply selling equipment to the end-user,” said Arluck. “Typically, management companies will approach large retailers and agree to provide ANPR systems with on-going management of parking lots, in exchange for a percentage of the fees collected from tickets. This commission based model has been well received by retailers who might have been otherwise sceptical of the benefits of ANPR, or who are limited in funds to invest into non-core operations.”