NB-IoT to turn 'smart parking' into reality

Real-time information on open slots will increase efficiency, reduce traffic

A technological solution is about to hit the market as the nation's expanding droves of drivers thirst for an upgrade of parking lot capabilities.

Narrow Band Internet of Things, or NB-IoT, is a Low Power Wide Area technology that enables the connections between IoT devices to be faster with wider range than the existing bluetooth and Wi-Fi approaches while at the same time being cheaper and consuming less power.