Dynamic Parking Rate Control System for Demand-Driven Revenue Optimization

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Solution Overview

Problem

Conventional parking facilities face challenges in efficiently managing parking rates, failing to respond dynamically to demand and maximize revenue, and they do not effectively utilize modern vehicle capabilities such as autonomous features to enhance the customer experience.

Innovation Solution

A parking facility control system that uses historical data and optimization models to dynamically adjust parking rates based on demand and vehicle attributes, allowing for real-time pricing adjustments and utilizing autonomous vehicle capabilities for efficient parking and communication.

Engineering Contradictions & Design Principles

VSEngineering Contradiction Analysis

1Device complexity

If a pre-determined static pricing scheme is used, then the parking facility operation is simple, but the pricing fails to respond dynamically to demand and maximize revenue

Engineering Contradiction:

Improvepricing scheme complexityVSAvoidrevenue generation efficiency

Core Design Contradiction:

Device complexityVSProductivity

Solution Approach 1:

The patent implements dynamic pricing by continuously adjusting parking rates based on real-time demand signals, time of day, day of week, and historical data patterns. The system transitions from static predetermined rates to a dynamic pricing model that automatically responds to changing conditions to maximize revenue while maintaining operational simplicity through automated decision-making.

Inventive Principle:

Principle #15Dynamics

Solution Approach 2:

The system incorporates feedback mechanisms by analyzing historical parking data, occupancy patterns, and demand trends to continuously refine and adjust pricing strategies. This feedback loop enables the pricing scheme to learn from past performance and adapt to changing customer behavior patterns, thereby optimizing revenue generation without requiring complex manual intervention.

Inventive Principle:

Principle #23Feedback

2Ease of operation

If conventional static pricing is used, then the system is easy to operate, but it fails to maximize profit for the parking facility

Engineering Contradiction:

Improvepricing management easeVSAvoidfacility profit maximization

Core Design Contradiction:

Ease of operationVSProductivity

Solution Approach 1:

The pricing system performs self-service by automatically determining optimal rates based on built-in algorithms that process historical data and demand patterns. The system self-adjusts pricing without requiring manual intervention from facility operators, maintaining ease of operation while achieving profit maximization through automated, data-driven decision-making.

Inventive Principle:

Principle #25Self-service

Solution Approach 2:

The system changes pricing parameters dynamically based on multiple factors including time of day, day of week, historical occupancy patterns, and demand elasticity. By automatically adjusting these parameters according to established rules and historical data, the system achieves profit maximization while keeping the operation simple for users who simply need to park.

Inventive Principle:

Principle #35Parameter changes

3Device complexity

If conventional parking facilities do not communicate prices effectively, then the system remains simple, but it fails to attract customers using modern vehicle capabilities

Engineering Contradiction:

Improvecommunication system complexityVSAvoidcustomer attraction capability

Core Design Contradiction:

Device complexityVSAdaptability or versatility

Solution Approach 1:

The system uses mobile devices and vehicle communication systems as intermediaries to transmit pricing information and parking instructions to customers. This intermediary approach enables effective communication with modern vehicles and mobile devices without requiring complex dedicated communication infrastructure, thereby attracting tech-savvy customers while maintaining reasonable system complexity.

Inventive Principle:

Principle #24Intermediary (Mediator)

Solution Approach 2:

The patent replaces traditional mechanical or analog pricing communication methods with electronic and digital communication systems. By using mobile devices, wireless communication, and integrated vehicle systems, the facility can effectively communicate pricing information to customers using modern vehicles, thereby enhancing customer attraction without requiring complex physical signage or manual communication processes.

Inventive Principle:

Principle #28Mechanics substitution (Replace mechanical system)

Data Source

PatentUS20200286304A1Systems and methods for dynamically controlling parking rates at a parking facility

Publication Date: 2020.09.10 DENSO INTERNATIONAL AMERICA INC

AI summary

System, methods, and other embodiments described herein relate to controlling a parking facility. In one embodiment, a method of controlling a parking facility control system is disclosed. The method includes selecting a pricing model, from a set of models based, at least partially, on historical data that indicates past parking rates and past usage levels of the parking facility. The method includes determining, periodically, a dynamic parking rate according to the pricing model. The method includes, in response to receiving a parking request for a vehicle, determining a current parking rate for the vehicle according to at least the dynamic parking rate and attributes of the parking request that indicate at least a parking duration that the vehicle is estimated to be parked at the parking facility. The method includes transmitting a parking notification to the vehicle, the parking notification indicating a parking space and the current parking rate.