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December 12, 2024
Parking apps have made a revolutionary impact on people’s lives. If you are considering developing a smart parking app, you are probably investing in a most productive and effective business plan.
And of course, why not? With a global market size of $5.7 billion, many entrepreneurs stand out in the overall market. However, smart parking app development is evolving like anything!
Want to know how?
Well, while urbanization is on the rise, and the city traffic complexity is growing constantly, especially post-COVID, when everyone seems to be out on the road. Public transport is not easily accessible for all, and parking a personal vehicle is even tougher (and costlier).
Therefore, the requirement for an Internet of Things (IoT)- powered parking system has gained prominence to minimize ongoing traffic congestion and reduce parking availability’s unpredictability. With multiple connected devices on the horizon, devising an IoT smart parking system is quite easy now.
Using AI and IoT for intelligent parking improves the safety of parking lots by avoiding accidents. Integrated with IoT devices, AI uses sensors and computer vision data to help drivers easily find an empty parking spot in the parking lot. It uses real-time data from cameras in different parking locations to provide accurate information about available parking. By providing parking rates, AI makes the process smoother.
So, are you ready to invest but confused about where to begin and what the cost of building an IoT-based smart parking app is? Don’t stress yourself; we have shared a detailed guide below on the cost and features of the IoT Smart Parking App Development.
Keep reading!
Cost to Build IoT-based Smart Parking App
And here comes the essential part that needs your overall consideration— the Cost to develop IoT based smart parking app.
Usually the cost to build IoT-based smart parking app often depends on several factors. Understanding those factors will help you properly assess the software’s requirements and features.
While getting a parking app with the basic feature will only cost you $20,000—$150,000, a more comprehensive and unique app with innovative features can exceed $100,000 or more. However, let us tell you this is just an estimate we provided. The overall cost of smart parking app development is influenced by various factors like the app’s complexity, its phrases, the geolocation where you are getting the app developed, and the platform for which it is developed- whether iOS or Android- and several other factors.
However, you can also consult an offshore app development company to start a parking app business and get a more accurate estimate based on your specific requirements. You will get all the answers to your queries in detail.
Factors Affecting The IoT Smart Parking App Development Cost
The cost to develop IoT based smart parking app can range from $50,000 to $250,000. However, let me clarify that several factors influence the pricing of parking app development, which can be low or high.
Do you want to know about those factors?
Here is the table that includes the breakdown of cost to develop IoT based smart parking app:
| Factor | Description | Estimated Cost Range ($) |
| App Platform (iOS, Android, Web) | The platform(s) you choose for app deployment (iOS, Android, Web, or all). Development for multiple platforms increases the cost. | $10,000 – $30,000 per platform |
| App Design & User Interface (UI/UX) | Custom and responsive design, ease of use, and smooth navigation all contribute to a better user experience. Higher complexity increases costs. | $5,000 – $15,000 |
| Backend Development | Development of the server, database, and application logic to manage parking spaces, user data, and interactions. | $15,000 – $40,000 |
| IoT Integration | Integration with IoT devices like parking sensors, cameras, or gateways that communicate with the app in real time. | $20,000 – $50,000 |
| Real-time Data Processing | Developing algorithms and systems for processing real-time data from IoT devices (e.g., detecting available parking). | $10,000 – $30,000 |
| Third-party APIs | Incorporation of third-party services (e.g., maps, payment gateways, weather, or traffic data). Cost depends on the number and complexity of APIs. | $5,000 – $20,000 |
| Parking Management Features | Features like parking spot reservation, entry/exit tracking, dynamic pricing, and payment processing. | $10,000 – $30,000 |
| Admin Dashboard | Development of an admin dashboard for monitoring parking status, user activity, and generating reports. | $8,000 – $25,000 |
| Security & Data Privacy | Ensuring secure data transmission (SSL, encryption) and GDPR compliance. Security can add to both development and maintenance costs. | $5,000 – $15,000 |
| Cloud Hosting & Storage | Costs associated with cloud infrastructure to host the app and manage data storage. | $3,000 – $10,000 annually |
| Testing & Quality Assurance (QA) | Ensuring the app functions without bugs and performs well under different conditions (e.g., various devices, network speeds). | $5,000 – $10,000 |
| Maintenance & Support | Ongoing maintenance, bug fixes, and updates after app launch. Maintenance costs vary based on complexity and usage. | $2,000 – $10,000 annually |
Note: The total Estimated Cost to develop IoT based smart parking app ranges within $50,000 – $250,000 (Depending on app complexity, features, and platform). However, the above-mentioned cost are just an estimated number. The overall cost depends on several factors.
Below, we have shared some of the key factors that can affect the cost to build IoT mobile app. Each factor is in a table with estimated costs to provide a more precise understanding:
Complexity Of App Development
So, the number of functions of an app refers to the complexity of a mobile app, feature components, interactions, and features in a software codebase. Also, it is possible to define complexity as the number of struggles the programmers may face during app development. Eventually, as you may have thought, the level of complexity in a parking app development can influence the period. Thus, the time period can influence the cost of parking applications.
Here is the overview of cost of developing parking app based on the level of complexity:
| Level Of Complexity | Average Time | Development Cost |
| Low Level | 3-4 Months | $10,000 to $30,000 |
| Medium Level | 4-9 Months | $30,000 to $70,000 |
| High Level | 10+ Months | $70,000 to $150,000+ |
Development Cost Based On the Platforms
So, the custom app development cost of the parking app can also depend on the platform you choose for your app. Depending on your budget and targeted audience, you can build iOS, Android, web, or cross-platform apps. However, as per our suggestion, go for iOS app development and Android App development to target a huge customer base:
| Type Of App | Average Cost |
| Native Apps ( Android & iOS) | $50k- $100k |
| Cross Platform | $25k- $60k |
| Web Apps | $15k- $50k |
| Hybrid apps | $10k- $150k |
Development Team Expertise
| Expertise Level | Estimated Hourly Rate |
| Senior Developers | $100 – $200/hour |
| Mid-Level Developers | $60 – $120/hour |
| Junior Developers | $30 – $60/hour |
| Freelancers/Contractors | $25 – $100/hour |
API Integration
| Complexity Level | Total API Integration Cost |
| Basic Integration | $2,000 – $5,000 |
| Moderate Integration | $5,000 – $10,000 |
| Complex Integration | $10,000 – $20,000 |
Location of Development Team
In case you are looking for offshore mobile app developers for your parking app development, here is location-based smart parking app development cost.
| Location | Description | Estimated Rate |
| United States/Canada | Typically, the huge cost due to expertise and market demand. | $100 – $200/hour |
| Western Europe | Slightly lower costs but still premium quality. | $70 – $150/hour |
| Eastern Europe | More affordable, with many highly skilled developers. | $40 – $80/hour |
| Asia (India, Philippines) | Typically lower cost due to the competitive market and skilled labor. | $20 – $50/hour |
| South America | Offers a balance between affordability and expertise. | $30 – $60/hour |
Maintenance and Updates
| Maintenance Factors | Average Cost |
| Servers | $20-$60 |
| Push Notifications | $10 |
| Payment Gateways | $149 (depends on % of each commission) |
| Maintenance Types | $50 |
| App Store Fee | $25-Google play$99-Apple App |
Developing a parking app can cost approximately $50,000 and $250,000. However, this is just an estimation; the total cost of parking app development can vary significantly depending on these factors. For example, app complexity, development team, full maintenance, and API & feature integration
Features to Integrate in IoT Smart Parking App Development
Now comes the essential part: integrating the features within your IoT-based smart parking app. And guess what? This is one of the essential steps that needs your consideration to make a productive and competitive app. Features keep your audience engaged within your app. Below we are sharing a some of the must-have features to integrate in the
Access Control and Management
Parking lot owners can access control and management systems to enable only authorized users to enter in a parking area. In fact, The car parking system using IoT requires user authorization through a mobile app or license plate scanning. Comparatively, at the exact moment, the controller on the barrier or gate has access to allow or refuse drivers to park their cars according to the set parameters with your app.
Parking Monitoring
Another task that an IoT Smart parking management system solves is monitoring the movement of people and cars in a parking lot. Video surveillance can enhance parking administration and troubleshoot potential parking issues, for example, traffic accidents or theft, by controlling which cars enter the area.
Parking Reservation
Your IoT-based smart parking system must also include the feature to solve the problem of overcrowded parking lots. Enable drivers to reserve parking spaces in advance through your app.
Individual solutions, like parking locks, can also be used for reservations. These devices are installed directly on parking slots. When a parking space owner leaves the territory, a parking lock blocks entry for other cars.
Parking Management
Parking administrators can supervise all facility processes using an IoT-based parking system. This solution monitors parking space availability and facilitates the billing process.
Steps to develop a Parking app
Getting a parking space is easy and without frustration after the search struggles every morning. However, who knows their fortune if they will get the perfect parking space on time and effortlessly free from other automobiles?
Stand out in this critical situation with a top-notch parking app. Consider these steps to develop a fabulous app:
Step 1— Must Know The Market
Conduct thorough market research to understand the parking industry’s dynamics, demand, and competition. Identify gaps or pain points in the market that your app can address. Conceptualize your app, defining its unique features, value proposition, and target audience.
Step 2— Partner With The Right App Development Company
After researching the parking app business, you need an experienced development company to help you build and launch your smart parking app on different platforms. The development company will analyze your project needs and business requirements to decide how they can effectively build and shape your smart parking business.
Step 3— Decide A List Of Features For Your Parking App
Here comes the essential of wisely choosing the features and API in your park app. Based on market research, you can create a list of features to add to your smart parking app. We have also discussed the list of both basic and advanced features, such as user registration, location search, payment integration, location tracking, etc., that are essential for your smart parking app.
Step 4— Choose A Design For Your Parking Platform
A great app design can help you deliver your app users the best and most simplified parking experience. Make sure the UX &UI designers you hire only choose designs for your app that are simple and engaging enough to let your users easily interact with them. You can get prototype development services from your concerned IT company to experience your app’s user interface before it enters the back-end development stage.
Step 5— Test Before You Launch Your Final App
It is a development stage in which your app will become fully functional by starting its backend and front-end development. The development team will also build and set up its database, servers, APIs, storage solutions, etc., to make your app fully functional and ready to launch.
The development team will also test you multiple times to ensure your smart parking is free of technical bugs and drawbacks.
The app launch is also important when starting your innovative parking app platform. When launching an app, you must follow the rules and guidelines of each distribution platform where you will launch your intelligent parking app.
Step 6— App maintenance
You are done with every strategy, from planning to testing and deployment. But now what? How do you justify parking so it works smoothly in every era? Per our suggestion, all your investments are wasted unless you don’t keep your app updated with new trends and technologies. This stage will allow you to improve your app with each update by offering the latest features and eliminating technical glitches.
Let RichestSoft Manage Your IoT Smart Parking App Development
Today, many other entrepreneurs stand out with their existing car parking apps. So, how do you make an impactful position in the vast competition?
Well, that’s when choosing ideal app development plays an essential role in providing businesses with an effective and productive app. Honestly, RichestSoft is the perfect choice for you. We specialize in IoT-based parking management solutions and have years of experience helping entrepreneurs create new and productive versions of their businesses.
We specialize in helping many businesses develop apps from scratch or develop clones like SpotHero. We analyze business requirements, understand your requirements, and then move forward and help you at each development phase. With more than 15 years of experience, RichestSoft has come a long way. So, contact us now! We will help you develop a competitive app that fully caters to your needs.
Conclusion
Overall, we hope that this comprehensive guide to parking app development complete cost breakdown has provided you with all the information on its development cost to help you stand out in the market. Don’t be stamped if you have any queries.
Fortunately, RichestSoft is here to help you! We ensure businesses with an excellent solution on a very affordable budget. Yes, for more than 15 years, we have been helping our clients successfully hold a competitive position in this online market world with our developed app.
So, want to get your practical and powerful app in your budget? Feel free to contact us!
