In the last few years, advances in machine learning, have enabled more “intelligent” vision system with the final goal of automating tasks that goes well beyond what the human visual system can perform. Real-time computer vision has been applied in a wide range of fields and has a myriad of applications ranging from medical image processing to industrial inspections.
For example, looking for parking in urban areas consists of 10% of the total circulation and causes 30% of traffic congestion. This comes at a huge cost for customers and operators; the average driver in the US spends 17 hours per year looking for parking, which translates to paying an extra $345 per driver on gas, emissions, and wasted time. Parking is also among the top revenue sources for a city; however, municipalities lose a lot of money on parking meter maintenance and enforcement.
Parquery has developed an industry leading computer vision platform uniquely able to work with off-the-shelf cameras to bring visibility and automation across several industries. Company’s first product is smart parking software solution using deep learning algorithms for image or video analysis to deliver parking analytics., The solution enables smart parking services at a very low cost without any additional hardware or retrofitting and works under a variety of light and weather conditions offering extended coverage.
The solution provides real-time, reliable, precise information on parking availability, parking duration, and flow analysis. While Parquery developed a strong customer and partner base in smart parking, the technology is currently being adopted by a wider range of other use cases.