Finding available parking can be frustrating. The needs of drivers and businesses change all the time. Yet parking prices remain constant, regardless of availability and demand.
Fybr can help. The highly accurate information collected by our sensors shows when vehicles come and go in every space. This data is the key to being able to adjust pricing based on ever-changing parking needs.
On blocks where parking spaces are always full, rates can be increased until there are always a few spots available. In areas where there is an abundance of parking spaces, rates can be lowered to make those spots more attractive.
There are two types of pricing strategies that can be implemented to help make parking more efficient: Dynamic and Demand-Based. With Dynamic pricing, rates can be adjusted in real-time – allowing for changes to occur immediately. With Demand-Based pricing, rates are only adjusted periodically – based on historical sensor data. When done properly, parking congestion is reduced as occupancy becomes better balanced.