Elvicto: Simplified Parking via Precision Parking Management

CIO Vendor With the increased figures in population and vehicles, parking and traffic congestion are constant sources of frustration for drivers, merchants, employers and governing bodies of municipalities in cities worldwide. Focusing on precision smart parking solutions, Elvicto, headquartered in Kerala, provides Multilevel parking (MLP) on an IoT platform which will assist the driver to find vacant spaces in a real time parking. This helps to reduce the time spent on finding a parking spot and enables finding the nearest parking space.

Elvicto’s primary focus is to enable Precision Parking with the help of LoRaWAN sensors. These sensors enable wireless, cost effective technological advent and are also at the heart of the emerging SmartCity developments. To run the Precision Parking, Elvicto leverages E2E system through Business support System (BSS) & Operation support systems (OSS). Elvicto focuses more on OSS which talks aboutprocess, events, data, applications and technology for running the cloud based digital service delivery. In a cloud service delivery, a mobile client or a WAP application is available for customers’ interface which acts as the front-end platform. This service delivery and business rule act as Ubiquitous Computing Cloud Platform (UDP). The synchronization of these platforms makes a comprehensive design of precision parking for consumer experience. Apart from LoRaWAN sensors, Elvicto solution has various components including a mobile application for the customers to search, reserve and pay for parking. The application is also designed to provide administrative control to city authorities and law enforcement agencies for parking policy, tariffs, preferential treatment for elderly or differently able and monitoring data of vehicles parked.

Furthermore, the need of parking management may vary based on various challenges. For instance, there is a lack of technology awareness and the
resources for IoT domain are not adequately skilled either. The cost, quality & durability of sensor devices are not up to the mark as most of it are of short duration and cost of implementing system is also expensive. More so, there is no clear regulatory guideline available from the government agencies to manage smart city and it is difficult to integrate & cross sell the data in multiple systems which are working in silos. So, to address all these challenges, Elvicto has designed ELPARK Intelligent Parking App which provides industry standard solutions. This app takes full control of city authorities to define the parking rates, peak hours, special treatment of elderly or any category, and centralize information of vehicle at public parking at any point of time. The application uses the internet, GPS, maps, and payment gateways to execute this process. ELPARK, coupled with IoT based precision sensors connected to cloud and mobile, helps citizens to find, reserve, park and pay for parking thereby making their commute truly convenient.

Resolving Parking Issues at Tier2 Level
With such incredible solutions, Elvicto create a traffic assessment for India’s largest IT Park, Techno Park in Trivandrum. The traffic was about 5000 vehicles per day and the available parking spaces fell short of the demand. To reduce this hassle, employers adopted many solutions such as deploying shuttle services and car pooling mobile apps. However, all these options didn’t work out as the employees find it more convenient to transit in their own vehicle during busy office hours. After implementation of Elvicto’s IoT based parking solution ‘ELPARK’, the employees were able to know the availability of parking spaces at any given time and schedule the parking accordingly.

After the first successful implementation of ELPARK in Techno Park Trivandrum, it is expected that the company’s revenue will reach USD 0.5 million in the first year. Now the company is looking forward to building traction in superior technology and architecture. Leveraging a partnership model, Elvicto intends to partner with parking operators and self funded groups. This strategy will also help the company to target USD 14 to USD 15 million revenues in 5 years’ time. Elvicto also aims to partner with government organizations and the life style business segments to fulfill the parking needs of the citizen.