Park Assist M4 System Becomes the Only Patented Camera-Based PGS

NEW YORK, NY – March 21, 2017 – Park Assist®, the company that pioneered the first camera-based parking guidance system (PGS), has announced patent awards for its M4 Smart-Sensor System in both the United States and the United Kingdom. This recognition of Park Assist’s proprietary technology has established the M4 system as the world’s only patented camera-based PGS.

When Park Assist originally entered the PGS market, the less-sophisticated ultrasonic sensors of that time were limited to detecting whether parking spaces being monitored were vacant or occupied. Incorporating elements such as License Plate Recognition (LPR) technology, the camera based M4 Smart-Sensor system redefined what a PGS could do and is expected to do. The first sensor-with-a-brain with a dual-core processor, a network of M4 smart-sensors brings intelligent processing power to the parking-bay level. This network of camera-based sensors feeds robust data to the proprietary Park Assist platform — a standard feature of every installation — for advanced data aggregation and analysis.

“Until we introduced the M4 system, the business case for a PGS was solely about guidance,” says Gary Neff, CEO of Park Assist. “Now the business case is really about the data. It’s about how that information can be used to improve performance, streamline costs, increase revenues and more. All while elevating the parker experience.”

Over the past seven years, the M4 Smart-Sensor System has been field-proven in real-world use. With the most camera-based PGS installations in the industry, the Park Assist customer base includes prominent facility owners and developers across an array of vertical markets. “Park Assist has invested millions of dollars to invent and enhance the camera-based parking guidance system. The development of the base product has led to many new innovations that are quickly becoming useful management tools.  We are pleased to receive the intellectual property protection the USPTO has granted us with the issuance of our Patent.  It provides us with the comfort that our inventions are protected, and encourages Park Assist to invest more and continue to innovate, creating new solutions for our clients,” Neff concludes.

Both for day-to-day operations and macro level decision-making, owners and operators of M4-system enabled facilities have access to actionable data, predictive analytics and valuable insights. “These strategic tools can be used by owners and operators to optimize their parking assets — whether it’s a single facility or a widespread portfolio of properties,” says Dr. Ilan Goodman, Chief Technology Officer of Park Assist.

Another exclusive component of the M4 Smart-Sensor System is a rich ecosystem of API-driven add-ons, such as Park Finder™, Park Alerts™, Park Surveillance™ and Park SelectRate™.  These stable, secure and readily integrated APIs (application programming interfaces) are created by Park Assist to provide specific business advantages for parkers, owners and operators.