XRCE wins Innovation award for Pricing Engine for Parking
The 2014 International Parking Institute Award for Excellence was given to the Xerox Innovation Group for its dynamic pricing engine deployed in the Los Angeles Express Park system.
Does intelligent parking management reduce time spent cruising for parking and related traffic congestion and associated pollution? The Los Angeles Department of Transportation (LADOT) recently put this concept to the test. From June 2012 through February 2014, its downtown LA Express Park™ operated as a U.S.-sponsored demonstration site for a complete intelligent transportation system (ITS), using vehicle sensors and a real-time parking guidance system to optimize the use of public on- and off-street parking. Sensor data showed that the demand for parking remained high through the evening in many areas, so the city extended enforcement hours to 8 p.m. It eliminated rate zones and adjusted fixed rates based on each blockface's demand patterns. When occupancy data suggested that a day-long fixed rate did not match variance in demand, the city substituted three Monday-to-Friday pricing periods and an all-day Saturday rate. By pricing each block based on occupancy thresholds, LADOT was able to increase parking availability and reduce circling for spaces.
The pricing engine was developed by Xerox Research Centre Europe. The team designed and implemented demand based smart pricing algorithms based on study patterns in data obtained from on-street sensors and developed methods to communicate the changes in rates.
As a result, average occupancy in congested areas in LA has decreased by 15%.
The award was given in the category “Innovation in a Parking Program/Operation & Excellence in Sustainability Relating to Existing Facilities” at the annual IPI Conference & Expo in Dallas June 1- 3, the world's largest educational and networking event for parking and transportation professionals.
The pricing engine was recently joint winner of the International transport Forum Promising Innovation in Transport Award.
More info on the IPI award.
More info on the XRCE dynamic pricing engine.