Commercial parking models usually charge for parking spaces through self-service parking meters, incurring high equipment and supervision costs and ineffective occupancy status monitoring.
The NB-IoT Smart Parking solution uses magnetic parking sensors to detect availability of parking spaces, where NB-IoT networks synchronize the parking lot status with application servers, greatly decreasing labor costs while optimizing resource allocation.
On the demand side, drivers can easily search for available parking lots and navigate to them using a mobile app, saving time while reducing traffic congestion and fuel usage.
Due to NB-IoT chips' high energy efficiency, the lifecycle of magnetic parking sensor batteries can be extended to four years.
Established in 2010, Fangle develops and sells smart parking devices and management systems, and operates a commercial parking business in a few Chinese cities.
Fangle has also implemented smart parking projects in several Chinese cities, and other markets including Brazil, the UAE, Germany, Canada, and the UK.
Zhejiang InnoTek Co., Ltd. is a high-tech innovation and business development enterprise. InnoTek has attracted considerable attention from local and state leaders in China and notably from Nobel Laureate and angel investor Myron Scholes.
InnoTek is active in more than fifty tier-1 and tier-2 cities in China, owning more than 60% of the commercial parking market in China.