Spacer Tackles America’s $96 Billion Parking Crisis with Innovative Technology

Spacer Technologies, known for America's leading parking marketplaces Spacer and Where I Park, has announced a new parking management system aimed at reducing emissions and decarbonizing transport. This system can help businesses double their parking capacity without requiring additional physical space, addressing the significant $96 billion parking problem in the U.S.

Since its North American launch in 2018, Spacer has focused on peer-to-peer shared parking. The new corporate arm, expanding through strategic partnerships, is expected to boost revenue by 50% in 2024. The partners range from hotel chains to tech giants in major cities including Seattle, San Francisco, and New York.

This advanced technology allows businesses to optimize parking usage. Shifting employees can share spots, and unused spaces can be leased out, creating additional revenue. Americans spend an average of 17 hours annually searching for parking, costing each driver $345. Spacer's mission is to utilize these spaces more efficiently, supporting sustainable transportation practices.

Mike Rosenbaum, Founder and CEO of Spacer Technologies, emphasized the goal to reduce parking issues and promote sustainable practices. The system aims to help businesses monetize underused spaces while minimizing waste.