Ever heard parking industry in India? America has huge businesses which are devoted only to parking problems. India will soon be one of the major hubs of the parking industry. Right now, India is on its way to becoming the most populated nation and to cope with, we have only had the 7th largest land worldwide.
More so, we still have an existential parking crisis but mainly it is confined to metropolitan areas like Delhi, Mumbai and much more. Pandemic is still going on but when we are back to normal parking is one problem we are bound to face again and again.
This can be one of your opportunity for something big. The parking industry has not yet gained momentum despite the technological advancement we are going through. Moreover, there is not much competition as well. So, making a parking app can be the start of your entrepreneur career.
Plus, parking apps can be drivers ace to save money and times. Also, it will help the government in urban infrastructure planning.
There is a lot of potentials to be fulfilled in this industry as to others. We have not yet seen a giant in making in the parking industry. So let’s analyse all whys before we set in how to create a parking app.
Average working Indian youth hardly gets any time for personal celebrations let alone parking problems. Besides, people in India all the time looks to not involved in parking issues.
Entrepreneurs or startups can easily profit from such a situation by developing good parking apps. On the other hand, people can get the convenience and sense of safety for their car parking. Check these stats
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 per cent, 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
Stats hardly fault, as by current dynamic there will be only increased demand for parking app in near future. Thus, a more than a reason to invest in.
Currently, Parkmobile is the best and fastest-growing business in the online parking industry. This app focuses on offering more cities than the number of locations in one particular city.
Also, this app is available on both android and iOS platforms. From this app, user can park in 3/ways
Other worth names are BestParking, Parkopedia, and Park me. They also follow the same model but with different nuances.
As we all know “it easy said than done”, this industry too, falls deeper and divulge into more complex commerce.
Creating a parking app like any other business niche app has various business models. Let’s divulge into
2. Parking at a place – This type of parking business model offers selected parking according to the turf. More so, it is quintessential in areas like shopping malls and centres because of the scarcity of parking lots. The fee too, varied as per proximity.
Also, the parking business can go with a combination of both for their business model. It all varies from vision to vision to which model is fit for the business.
We have for you have toned down the whole process and create a 6 step guide on how to create a parking app efficiently.
First of all, decide your vision and purpose of your online parking business. Then choose the business model as mentioned above.
Study the parking lot market and carefully analyse its derivatives. Search your competitors in dept and the business potential this niche has to give.
Hired an expert and professional team of app developers who can help you ride out this venture.
Pick a natural design that goes with business vision and purpose. Also, a key marketing component to delight your audience.
Install an end-to-end features in your parking to create a robust platform.
Create an MVP or beta product of your app. Also, timely embed your parking app with modifications. This upgradation should be coming directly from the feedback and review system.
After completing all steps, one must be able to launch a parking app in the marketplace.
But be vigilant in this competitive market and always look on to add new features and advancements to stay in the competition.
The parking Industry, still speaks alot potential.
November 26, 2021