T2 Systems research links parking to rideshare growth

A survey of 2,000 drivers who use municipal parking facilities in US cities found that 66% spend up to 15 minutes searching for a parking space, with more than half turning to rideshare or public transport to avoid the difficulty. T2 Systems, which conducted the research for its New Municipal Parking Reality Report, found that one in five drivers said it is difficult to find parking when needed, while one in three reported having experienced a confrontation over a parking space.

The most frequently cited frustrations were limited space (28%) and high costs (27%). The study also found that 85% of drivers would be willing to pay modest premiums of under US$5 for benefits such as guaranteed parking or closer spaces, while 52% said cities should invest more in modern parking technology.

In a statement, Lin Bo, President of T2 Systems, said: “When parking isn’t fast or easy, drivers will look for alternatives. That’s why real-time availability, smarter space utilisation, and flexible digital tools for enforcement, permitting, and payments are essential to supporting how people move in today’s cities.”

The survey found that three-day-a-week parkers now represent the largest segment at 21%, followed by daily parkers at 19%, indicating a shift in commuter patterns linked to hybrid working arrangements.

Source: PR Newswire