TKH Security | Park Assist

Background

TKH Security, a subsidiary of TKH Group NV, specializes in developing smart electronic security, safety, and parking guidance systems. With over 25 years of experience, the company offers comprehensive solutions in security management, access control, video surveillance, and parking facility management. In January 2021, TKH Security merged with Park Assist, a leader in camera-based parking guidance systems, to enhance its technological capabilities and global presence. This consolidation aims to provide clients with cutting-edge smart technologies that cater to evolving needs, optimizing financial security, and broadening product lines and services.

Key Strategic Focus

TKH Security's strategic focus centers on delivering integrated security and parking solutions through innovative technologies. The company specializes in camera-based automated parking guidance systems (APGS), leveraging proprietary smart-sensor technology to enhance parking efficiency and security. Key technologies include the M5 Smart-Sensor System, which offers real-time occupancy data and surveillance capabilities. Primary markets targeted encompass urban infrastructure, commercial properties, educational institutions, and high-traffic public venues.

Financials and Funding

TKH Security operates as a subsidiary of TKH Group NV, a publicly traded company with a market capitalization of approximately €1.6 billion. The financial backing from TKH Group NV provides TKH Security with the resources to invest in research and development, expand its global footprint, and pursue strategic acquisitions to enhance its product offerings.

Pipeline Development

TKH Security continues to innovate within the parking guidance sector. The company has been granted a United States patent for systems and methods for identifying vehicles using wireless device identifiers, effective as of November 1, 2022. This patent enhances the capabilities of the M5 Smart-Sensor System, improving vehicle identification accuracy in parking facilities.

Technological Platform and Innovation

TKH Security's technological platform is distinguished by its proprietary camera-based APGS, notably the M5 Smart-Sensor System. This system utilizes dual CMOS digital cameras to monitor up to six parking spaces simultaneously, providing real-time occupancy data and high-definition surveillance footage. The M5 system's full-spectrum RGB LED indicators offer clear guidance to drivers, reducing parking search times by up to 63%. Additionally, the system's analytics and insights assist facility operators in optimizing garage utilization and revenue.

Leadership Team

Gary Neff: President of TKH Security, overseeing strategic direction and operations.

Scott Dubois: Vice President of Product Management, leading product development and innovation initiatives.

Pete Messman: General Manager for North America, responsible for regional operations and market expansion.

Leadership Changes

In January 2021, TKH Security underwent a significant leadership change with the consolidation of Park Assist and ParkEyes under its brand. This strategic move aimed to unify operations and leverage combined expertise to enhance product offerings and market reach.

Competitor Profile

Market Insights and Dynamics

The global parking management market is experiencing significant growth, driven by increasing urbanization and the demand for efficient parking solutions. The integration of smart technologies, such as camera-based guidance systems, is transforming the industry, offering enhanced user experiences and operational efficiencies.

Competitor Analysis

Key competitors in the parking guidance sector include:

Indect: Specializes in ultrasonic and camera-based parking guidance systems, offering solutions for various facility types.

ParkHelp: Provides parking guidance and management systems with a focus on sensor-based technologies.

Quercus Technologies: Offers license plate recognition and parking guidance solutions, emphasizing data analytics and integration capabilities.

These competitors focus on enhancing parking efficiency through innovative technologies, posing challenges to TKH Security's market position.

Strategic Collaborations and Partnerships

TKH Security has engaged in significant collaborations to strengthen its market position:

Bal Harbour Shops: Implemented the M4 Smart-Sensor System in the luxury shopping mall's new garage, enhancing the parking experience for visitors.

City of Hollywood, FL: Deployed the M4 system in the Nebraska Parking Garage, improving parking efficiency in a high-traffic beachfront area.

Colorado School of Mines: Installed the M5 Smart-Sensor System in the campus parking facility, reducing parking search times and enhancing security.

Operational Insights

TKH Security's strategic considerations include:

Market Position: Leveraging proprietary camera-based technology to differentiate from competitors relying on ultrasonic systems.

Competitive Advantages: Offering integrated solutions that combine parking guidance with security management, providing added value to clients.

Global Presence: Establishing a strong international footprint with installations in over 80 countries, enhancing brand recognition and market penetration.

Strategic Opportunities and Future Directions

TKH Security's strategic roadmap includes:

Product Innovation: Continuing to develop advanced parking guidance solutions, such as the PE360 Smart-Sensor System, which offers 360° visibility and streamlined installation.