The global smart parking systems market is expected to grow at a compound annual growth rate of 22.1 percent and reach $30.16 billion by 2030. Rapid urbanization in metro cities and growth in the automotive industry has hugely contributed to the growth of this market in India. We have witnessed the emergence of various solution providers in this segment who are collaborating with corporations and residential societies for seamless operations in parking management. However, the increasing traffic and unavailability of parking spaces is a problem for all metro cities currently. Where we can see that in-house parking systems are in place, the parking solutions for on-going traffic cannot be easily found. This challenge is being faced by the public in all metro cities of India and there is a huge requirement for parking solutions that reach directly to the customers.

Namm Parkiing understood this gap in the market and started with a B2C framework in parking management, driven by the latest technologies and specializes in turning unutilized and underutilized parking spots into performing assets.

The company has developed a smart application that can provide information about all the parking lots in the city of Bangalore to users. This is one of the unique in-app features provided by Namm Parkiing which makes it stand apart in the market. It also has a B2B approach, where it has tied up with various corporations and residential societies and provided them with a holistic solution in parking management. Development of solutions using the latest technologies is at the core of the company, as it specializes in developing customized solutions for clients, and provides both hardware and software in terms of parking management. “We first ventured into the B2B space and realized the problems faced by end customers, and launched the B2C vertical. We did extended research regarding the underutilized and unutilized parking lots across metro cities and came up with value-added parking management solutions”, mentioned Nitin Prabhakar, Founder & CEO, Namm Parkiing.

Organized Parking through the App
Categorization in services makes Namm Parkiing one of-a-kind in the parking management sector. First is the B2B solutions and services, where it has clients in the corporate sector as well as in real estate. There are a bunch of value-added solutions and services in this regard that include valet services, additional parking space, and several others. Valet services provided by the company are of premium standards and very punctual.

In a B2B format, punctuality plays a vital role when it comes to valet services. This is the reason why the company has gained the trust of many corporate clients and residential societies in this regard. It provides top-notch and always on-time valet services so that customers do not have to wait for a single moment.

Namm Parkiing did extended research regarding the underutilized and unutilized parking lots across metro cities and came up with value-added parking management solutions

The Valet App, an innovative offering from Namm Parking, allows users to conveniently access the service through the Android or Apple Store and request their vehicles whenever needed, eliminating unnecessary wait times. Corporate clients can manage their parking slots effort lessly through the app's dashboard. It provides real-time updates on the number of vehicles parked and available slots, enabling building owners and companies to optimize parking space usage and generate revenue from underutilized spots.

The category that comes next is the B2C aspect which is an out-of-the-box idea executed by the company. There aren’t any solutions or service providers in parking management for ongoing city traffic and this application has been a game changer for Namm Parkiing. Because of the user-friendly application and affordable registration costs, the user base for B2C applications has been rapidly growing and is being accepted by all end users at large.

“Our idea behind this initiative was to provide a solution to the traffic and parking problems that are currently there in the metro cities. It is great to see that people like our application and our user base is increasing every day”, stated Nitin.

Technology prowess is also a differentiating factor for the company as it uses all the latest technologies and tools available in the market to develop its solutions. Smart parking management is primarily a technology driven idea and the management understands it from the heart.

They leave no stone unturned in providing the most up-to-date solutions to clients, along with various other value-added services. The B2C application is a one-of-a-kind application available for all, and Namm Parkiing’s technology regarding its development can also be a pioneering aspect for the country.

Future Endeavours
Since its inception in 2023, the company has gained significant trust and recognition in the market because of the uniqueness of its solutions and services. Looking ahead, it will be focusing on expanding the B2C solutions and services because of the growing opportunities in all the metro cities of India. Currently, it is operating out of Bangalore and plans on expanding to other metros in the coming years. “We plan on achieving 10,000 users by April this year and 1,00,000 by September”, concluded Nitin.