iParko: Transforming Urban Infrastructures with Advanced Smart Parking Applications

Shreekesh Pillai, Co-founder & Business Head
The Global Smart Parking Market is set to gain immense momentum, with Technavio predicting market to grow at a CAGR of over 18percent and reach USD 26.2 billion by 2021. The growing adoption of intelligent transportation systems, increased usage of smart parking sensors,and the deployment of analytics on telematics to reduce traffic congestion, are some of the key factors contributing to this growth. Moreover, with functionalities for traffic management, vehicle diagnostics, and video surveillance, Smart Parking can facilitate smart management of transportation systems through automating and decreasing the time invested in finding optimal parking spots, while also contributing to increased safety, decreased management costs and reduced pollution. As a result, Smart Parking can be immensely beneficial in optimizing a country’s infrastructure, particularly in India where the country’s high population density levels and increased buying capacity, has led to major parking problems across its metropolitan cities. Stepping forward to address these challenges, Chennai headquartered iParko leverages the benefits of Smart Parking to equip the country with advanced parking optimization applications.

Founded by Shreekesh Pillai, an MBA graduate and budding entrepreneur, and Pushpendra Tiwari, an IT graduate, iParko was established with a vision to transform the urban infrastructure of the country through complete digitalization of the parking industry. The company has thus builtits own mobile parking application, iParko Parking Solution, to facilitate better handling of parking and traffic across cities. “The major problem in Smart cities today is the unavailability of sufficient parking spaces and iParko has worked vigorously to alleviate the various pain points associated with time, energy and money, and manage the parking needs of cities,” explains Shreekesh Pillai, Co-founder & Business Head, iParko.

We believe in growing together and thus work to support the growth of both the parking industry and the consumers, which in turn will indirectly grow the iParko app

With an objective to optimize and augment the Parking industry, the iParko app works to hard code the parking information and equips users with details of the parking spot. The application accomplishes this with the help of its dashboard which communicates with parking owners in real-time and facilitates them with sales related information, thereby helping them increase their revenue. “We believe in growing together and thus work to support the growth of both the parking industry and the consumers, which in turn will indirectly grow the iParko app,” affirms Shreekesh. Furthermore, the app has been designed to also cater to Off Street Parking, and is focused on creating and providing more offstreet parking spaces.

Pushpendra Tiwari, SDE/Co-Founder

Despite a recent beginning,the iParko app has acquired an expansive clientele, which in turn has helped the company carve a niche for itself in this segment. Leveraging this expertise, the company has devised an elaborate blueprint for the future that involves carrying out research on IoT- based products and bringing smarter parking applications to ameliorate the infrastructure of smart cities, in the upcoming future.