Elvicto have developed one of the first LoRaWAN based precision parking solution in India which is extended to key futuristic components and features like AI/ML-based smart parking solutions:

1. Vehicle Detection and Recognition:
   • Camera Systems: Deploy cameras equipped with computer vision algorithms to detect and recognize vehicles entering and exiting parking areas.
   • License Plate Recognition (LPR): Use ML algorithms to read and interpret license plates for automated entry/exit and payment processing.
2. Occupancy Monitoring:
   • Sensor Networks: Implement IP Camera sensors to monitor the occupancy status of individual parking spaces in real-time.
   • Machine Learning Models: Train ML models to analyze sensor data and predict parking space availability.
3. Dynamic Pricing:
   • Demand-based Pricing: Use ML algorithms to adjust parking fees based on real-time demand, helping to optimize pricing and encourage better space utilization.
4. Route Optimization:
   • Navigation Integration: Integrate with navigation apps to provide real-time information on available parking spaces, helping drivers find parking quickly and reduce congestion.
   • Traffic Flow Prediction: Use ML models to predict traffic conditions and guide drivers to less congested areas.
5. User-Friendly Mobile Apps:
   • Mobile Applications: Develop user-friendly mobile apps that allow users to find, reserve, and pay for parking spaces seamlessly.
   • Notifications: Implement push notifications to update users on parking availability and reservation confirmations.
6. Predictive Analytics:
   • Machine Learning Algorithms: Utilize predictive analytics to forecast future parking demand based on historical data, events, and seasonal patterns.
7. Automated Entry and Exit:
   • Barrier Systems: Integrate ML-based recognition systems with entry and exit barriers for automated access control.
8. Security and Surveillance:
   • Anomaly Detection: Use AI for anomaly detection in surveillance footage to identify and respond to security issues.
   • Integration with Security Systems: Integrate with security systems for enhanced safety and monitoring.
9. Maintenance Alerts:
   • Predictive Maintenance: Implement ML algorithms to predict maintenance needs for parking equipment, reducing downtime and improving reliability.
10. Integration with Smart Cities:
    • Citywide Connectivity: Integrate smart parking solutions with broader smart city initiatives to improve overall urban mobility and infrastructure.
11. Environmental Considerations:
    • Electric Vehicle (EV) Charging Integration: Plan for the integration of EV charging stations and optimize parking space allocation for electric vehicles.