Director Chief Sales & Marketing Officer
In a world of technology, parking is still a search - based on luck. From any city perspective an effective parking management is an essential tool to facilitate the efficient use of road space and to ensure free passage for pedestrians, cyclists, public transport, and users within a smart city. The answer is irrefutable - people have to be predictably diverted off the road, into a guaranteed parking spot. In addition, appropriate parking fees can ensure that personal motor vehicle users compensate the city for the use of valuable land on which they park their vehicles. Bangalore based iRAM Technologies is aligned to monitor parking spaces within cities through its IoT Architecture & sensor based smart parking system to meet the various needs of commuters and municipalities.'
iRAM Technologies smart parking platform provides real time dashboards hosted on cloud or at parking operations control center of any city. The company’s key strength is real-timeparking data acquisition through IoT components of sensors and gateways from the field. iRAM is currently working with half a dozen smart cities to establish customized parking solutions as per their needs. For instance, removing pilferages in parking fee collection is key area being addressed for one of the municipalities while other municipality is focused on registering all parking inventory (Public as well as Private) in parking platform and provide users convenience of finding appropriate parking space. Parking enforcement is another important use case being addressed in some smart cities.
Driving Growth through Operational Efficiencies
iRAM’s approach towards driving growth is through operational efficiencies with 100 percent parking inventory utilization, removing pilferages by deploying Technology, optimization of Technology & Manpower resources through disruptive and innovative Mobile Applications. There is no need to install conventional and high Capex equipment’s like Auto Pay Meters, Ticket validators, ticket dispensers, entry stations,and exit stations. User Mobile Application along with IoT sensors can easily replace them while providing enhanced convenience and accuracy of data. Currently parking is significant cash generation business for operators to be replaced with governments mandate of cashless and digital payment system. iRAM envisions achievement of 90 percent plus cashless payments in Parking domain within next 2-3 years.
iRAM is currently working with half a dozen smart cities to establish customized parking solutions as per their needs
Till date, India saw limited orzero deployment of camera based parking sensors or surface sensors paving a path for iRAM to be in a spearheading position in this field. Their edge computing enabled smart parking sensors, a robust user app and analytics rich back end parking guidance management system suite is technically and functionally positioned to deliver best in class, most efficient and cost effective solutions customized as per Indian cities and Indian consumer behaviors.
Besides the Smart Parking solution, iRAM is also working onvarious other smart city applications/components like Intelligent Poles,Smart Street Lighting, Environment sensor systems,
smart and energy efficient buildings solutions.
Smart Street light solution is another major part of the iRAM Smart City initiative. Efficient management of Street Lights results in great amount of energy savings thereby reducing the carbon footprint. Central management system with dashboard facilitates effective maintenance of lights and better services to the citizens.
Positioning Future SmartParking Technology
The company has well laid out mid to longterm expansion plans. These plans cover the product roadmap, GTM & Technology alliances, revenue growth in India & Overseas along with raising external investments to fund the robust growth. With customer acquisitions and proven Technology iRAM is highly confident of completing Pre Series'A' investment round with a strategic investor in near future. These investments will be used in existing product enhancements, new product development and geographical expansion.
iRAM envisions itself as a Smart Parking Technology Thought leader by being the en-abler of IoT Architecture Based Smart Parking Solutions. By utilising IoT and Edge Computing combined with Mobile pervasiveness iRAM wants to position itself as a disruptive player, challenging conventional and CAPEX intensive parking solutions.
Through their innovative IoT enabled Parking sensors(camera based or Anisotropic Magneto Resistive)& gateway systems iRAM is trying to help citizens & municipalities by
• Establishing an effective and 100 percent accurate parking feecollection system
• Proper Parking enforcement
• Utilization of 100 percent parking inventory either on-street,off-street or multi-level car parking
• Informed decisions to build more parking spaces.
• Citizen services by providing realtime parking availability, route guidance to parking spaces,online reservations and highly convenient parking fee payment through mobile