Number of Pages : 90 leaves
Adviser : Dr. Serafin D. Talisayon
Executive Summary
This project entitled "The Future of the Parking Industry in the Philippines : A Technology and Market Foresight" specifically aims to provide an assessment of the technology and market foresight of the parking industry and to identify the trends and probable business opportunities in the parking app industry in the Philippines.
The traditional parking system discussed in the introduction focused on the history of the parking management system in the country. In this chapter, the different kinds of parking systems discussed and defined along with their respective stakeholders, are the contributing factors that will drive the parking industry to provide more effective services to potential market segments.
The review of related literature, which summarized studies of local and foreign students and professionals, is equally important to validate the project's importance and necessity. In this chapter, the existing startup companies that develop parking apps enumerated their features and functionalities to provide real-time information to the crowd looking for parking spaces. The companies are all on their infancy stages, and this makes the industry interesting to explore and provides the impetus to study the possibilities of the parking app industry in the next few years. Will it be lucrative venture in the parking industry? Will it be marketable in the future?
Will the parking industry solve the traffic congestion in the Philippines? Parking is an accessory to the problem of traffic congestion. The high volume of vehicle sales in the Philippines means that the need of parking spaces is also high. Total vehicle sales averaged 5,276.68 from 2002 until 2018 (Chamber of Automotive Manufacturers of the Philippines, 2019). This rapid growth intensifies the problem of the scarcity of parking spaces, while on some occasions, there are more parking spaces than the number of parked vehicles. The main problem is finding a parking space. During rush hours, it is difficult for a driver to locate a parking space because of the lack of information on available spaces. According to one study, 30% percent of traffic in a typical downtown area consists of cars seeking for a place to park with a minimum of 8 minutes to find a vacant space (IBM Global Parking Survey, 2011).
To complete the project and provide conclusions and recommendations, the project methodology to be used is the 10-step scenario building, using the second generation of forecasting that focuses on the technology and market assessment of the parking industry.
The traditional parking system discussed in the introduction focused on the history of the parking management system in the country. In this chapter, the different kinds of parking systems discussed and defined along with their respective stakeholders, are the contributing factors that will drive the parking industry to provide more effective services to potential market segments.
The review of related literature, which summarized studies of local and foreign students and professionals, is equally important to validate the project's importance and necessity. In this chapter, the existing startup companies that develop parking apps enumerated their features and functionalities to provide real-time information to the crowd looking for parking spaces. The companies are all on their infancy stages, and this makes the industry interesting to explore and provides the impetus to study the possibilities of the parking app industry in the next few years. Will it be lucrative venture in the parking industry? Will it be marketable in the future?
Will the parking industry solve the traffic congestion in the Philippines? Parking is an accessory to the problem of traffic congestion. The high volume of vehicle sales in the Philippines means that the need of parking spaces is also high. Total vehicle sales averaged 5,276.68 from 2002 until 2018 (Chamber of Automotive Manufacturers of the Philippines, 2019). This rapid growth intensifies the problem of the scarcity of parking spaces, while on some occasions, there are more parking spaces than the number of parked vehicles. The main problem is finding a parking space. During rush hours, it is difficult for a driver to locate a parking space because of the lack of information on available spaces. According to one study, 30% percent of traffic in a typical downtown area consists of cars seeking for a place to park with a minimum of 8 minutes to find a vacant space (IBM Global Parking Survey, 2011).
To complete the project and provide conclusions and recommendations, the project methodology to be used is the 10-step scenario building, using the second generation of forecasting that focuses on the technology and market assessment of the parking industry.
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