A technology firm that provides data on the parking industry haslaunched a new tool that aims to arm lot operators, real estateowners and local governments with benchmarks in the new world ofCOVID-19, where work commuting and other activity has decreasedmarkedly.

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San Francisco-based Smarking's "Parking Benchmark," allows users"to gain a holistic view of parking performance across NorthAmerica, understand drivers' behaviors, and keep a pulse onmarket-level trends."

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The firm, citing its own data in the release, noted a more than90% drop in the demand for parking in March of thisyear. And, according to a recent blog post from Smarking, year overyear, off-street commuter parking activity has decreased 62%, andoff-street visitor parking activity has decreased 77%, in 2020.

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"While often overlooked, parking is one of the most importanturban mobility infrastructures, facilitating the daily needs of100MM+ commuters across the US every day," according to Smarking."A market-level view of this industry is vital to truly evaluatethe health and performance of businesses across the U.S. It'sindicative of business health, provides insight on consumerbehaviors as businesses re-open, and uncovers regional andnational trends."

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The data "empowers users to better understand andmeasure the performance of their locations, and identifycompetitive gaps by comparing key metrics to the entire industry,"the release added. "With 1-click, users can see how their locationstacks up against the industry, in real-time."

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The tool uses data from more than 2,000 parking locations acrossNorth America. Users who contribute data may use the benchmark,according to Smarking's website, which invites users to schedule ademo.

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David Gialanella

David Gialanella, Editor-in-Chief, Business of Law and The American Lawyer, has been with ALM since 2010 in various roles. He previously managed the New Jersey Law Journal and oversaw all of ALM's regional brands. Reach him at [email protected].