Neural Network-Based Parking System Object Detection and Predictive Modeling

A neural network-based parking system with real-time license plate detection and vacant space detection using hyper parameter optimization is presented. When number of epochs increased from 30, 50 to 80 and learning rate tuned to 0.001, the validation loss improved to 0.017 and training object loss improved to 0.040. The model mean average precision mAP_0.5 is improved to 0.988 and the precision is improved to 99%. The proposed neural network-based parking system also uses a regularization technique for effective predictive modeling. The proposed modified lasso ridge elastic (LRE) regularization technique provides a 5.21 root mean square error (RMSE) and an R-square of 0.71 with a 4.22 mean absolute error (MAE) indicative of higher accuracy performance compared to other regularization regression models. The advantage of the proposed modified LRE is that it enables effective regularization via modified penalty with the feature selection characteristics of both lasso and ridge.