Business Wire

EasyPark:Swedish Technologists Halve Time Spent Searching for Parking with New Predictive Parking Technology

3.7.2017 09:00 | Business Wire

Jaa

With the average motorist wasting over 2,500 hours of their life searching for a space in busy city streets, parking is a huge challenge for people and cities. Studies show that 30% of traffic in congested cities is caused by people searching for parking, and that this could contribute to as much as 50 million tons of pollution across Europe.

But there is hope for desperate drivers, thanks to a team of technologists at Europe’s largest parking app, EasyPark, who have invested 10 years of R&D and over €10M to develop the first truly predictive parking technology. Find & Pay, uses big data, predictive analytics and machine learning to reduce the time it takes to find parking in congested cities by up to 50 per cent, reducing stress for motorists and the congestion and emissions associated with city parking today.

Unlike expensive and inaccurate sensor-based technologies, Find & Pay combines huge volumes of transaction data with crowd-sourced location information from users and IoT devices to create an accurate parking probability map of every city block for any given hour of the day. Using this information, Find & Pay gives users a route to their destination that passes along streets with the highest probability of parking availability – constantly balancing time in-car against walking distance to destination to find the optimal route. Find & Pay provides turn-by-turn navigation along the route and lets users remotely manage and pay for the parking space when they arrive, creating a simple, seamless experience.

Johan Birgersson, CEO of EasyPark Group, comments: “Our technology team have worked tirelessly for over a decade to solve one of the toughest unanswered challenges in car travel – how to quickly find suitable parking in our increasingly congested cities. Today’s navigation options take you to your destination, but fall flat when you need to find somewhere to park.

“It’s a very frustrating experience when you get where you need to go, but simply can’t park your car – Find & Pay solves this significant challenge for motorists. We’re hugely excited to start bringing the technology to market and to see the profound impact it will have on driver frustration and the challenges of congestion and pollution in cities. This technology has the potential to reduce emissions in cities by hundreds of thousands of tonnes.”

Find & Pay is currently undergoing large-scale beta testing, using over 500 testers across 31 cities to test, validate and increase predictive accuracy. The system’s self-learning algorithms will continue to improve over time, through continued testing and via continuous user feedback when it is rolled out to the public at large. Find & Pay will launch in Stockholm in September followed by rollout across over 30 major European cities during the fall. London and New York will follow in 2018 and beyond.

Unlike navigation and transportation in general, the parking industry has experienced relatively few major technology breakthroughs. With the EU industry turning over €26 billion per annum (according to the European Parking Association), and employing 569,000 people, the sector holds significant opportunity for technology-led innovation and disruption.

Birgersson concludes, “We are solving the top two needs expressed by motorists in independent surveys: rapidly finding a place to park close to their end destination; and remotely managing and paying for their parking, all in one simple mobile user experience. But this is just the first step; our technologists will continue to innovate alongside the automotive industry, integrating seamless parking experiences with in-car interfaces, alongside the EasyPark app.”

Contact information

Octopus Group
Ioiana Luncheon
0845 370 7024

Tietoja julkaisijasta

For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.

Tilaa tiedotteet sähköpostiisi

Haluatko tietää asioista jo ennen kuin ne uutisoidaan? Kun tilaat tiedotteemme tältä julkaisijalta, saat ne sähköpostiisi yhtä aikaa suomalaisen median kanssa. Tilauksen voit halutessasi perua milloin tahansa.

Lue lisää julkaisijalta Business Wire

Vertex Expands Cloud Platform in Response to Market Demand24.7.2017 19:28Tiedote

Vertex, Inc. today announced it is significantly expanding the capabilities and reach of its cloud platform. Success in the $500 million and below market, the need for more efficient and agile technology in the tax space and significant growth in cloud adoption are fueling enterprise cloud expansion. This enhanced offering, Vertex® Cloud Indirect Tax, runs on the most advanced tax calculation and returns software platform in the industry, used by thousands of businesses from the largest corporations in the world to the smallest ecommerce businesses. Vertex Cloud is right-sized for any organization and is positioned to support all sales and use tax needs. Benefits of Vertex Cloud include: Extended functionality for all types of businesses across the globe; Reduced time and effort to perform tax calculations and returns;

Larsen & Toubro Infotech Limited (LTI) Announces: Net Profit Jumps 5% QoQ; USD Revenue Growth up 2% QoQ and 12% YoY24.7.2017 17:47Tiedote

Larsen & Toubro Infotech (BSE code: 540005)(NSE: LTI), a global technology consulting and digital solutions company, announced its Q1 FY18 results today. In US Dollars: Revenue at USD 259.2 million; growth of 2.0% QoQ and 12.2% YoY Constant Currency Revenue growth of 1.5% QoQ and 11.8% YoY In Indian Rupees: Revenue at Rs 16,707 million; decline of 0.4% QoQ and growth of 7.4% YoY Net Income at Rs 2,672 million; Net Income growth of 5.0% QoQ and 13.3% YoY   “We continue our growth trajectory with a 2% QoQ increase in USD revenues, reflecting the resilience of our portfolio. Digital Services and Infrastructure Managem

Moody’s Analytics Voted Best Credit Risk Solution Provider in Waters Rankings for Second Year in a Row24.7.2017 17:00Tiedote

Moody’s Analytics today announced that it has been voted “Best Credit Risk Solution Provider” for its RiskCalc™ solution in the 2017 Waters Rankings. The RiskCalc solution provides a global suite of models for evaluating commercial and industrial credit risk. 2017 marks the second straight year that Moody’s Analytics has won the “Best Credit Risk Solution Provider” category in the Waters Rankings. Each year, these rankings are determined through a poll of the readers of Waters magazine, a financial IT publication with a readership of over 10,000 professionals. “We are proud that industry practitioners have again recognized RiskCalc software as the best credit risk solution,” said Mehna Raissi, Senior Director-Product Management at Moody’s Analytics. “This honor reflects the value our clients receive from using RiskCalc software. We understand our customers’ challenges, the r

Synectics Wins European Contract for Train-to-Ground ‘Passenger Help’ Solution24.7.2017 16:59Tiedote

Synectics is to develop a train-to-ground solution that will enable a major European rapid transit operator to receive, manage and respond to on-vehicle passenger help requests remotely, from a central command center. Following a year-long competitive tender process ‒ which identified Synectics as the most suitable provider to deliver against the technical requirements involved ‒ the global surveillance specialist has been chosen to design and deploy the tailored solution across 680 trains servicing the capital city. To answer the brief, Synectics has developed an “audio gateway” hardware solution which interfaces with the customer’s on-vehicle passenger help system to enable audio in/audio out transmission via the train’s cellular modem. Using Synectics’ Synergy command and control platform to integrate the communications data, authorized personnel based a

Calvin Klein, Inc. Announces Fall 2017 CALVIN KLEIN 205W39NYC Global Advertising Campaign24.7.2017 16:00Tiedote

Calvin Klein, Inc., a wholly owned subsidiary of PVH Corp. [NYSE: PVH], today announced the Fall 2017 CALVIN KLEIN 205W39NYC global multi-media advertising campaign. The campaign features the debut CALVIN KLEIN 205W39NYC collection by Chief Creative Officer Raf Simons. This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20170724005416/en/ FALL 2017 CALVIN KLEIN 205W39NYC GLOBAL ADVERTISING CAMPAIGN (Photo: © 2017 Willy Vanderperre) Shot by photographer Willy Vanderperre, the visually striking campaign presents a cast of 22 models shot against a series of billboards that feature images from last season’s CALVIN KLEIN: American Classics campaign. The billboards of the previous campaign – which include works by artist Andy Warhol – were erected in the California desert in the days le

Samsung Bioepis Announces RENFLEXIS™ (infliximab-abda) Now Available in the United States24.7.2017 15:04Tiedote

Samsung Bioepis Co., Ltd. today announced the launch of RENFLEXIS ™ (infliximab-abda), a biosimilar referencing Remicade® (infliximab), in the United States (US). RENFLEXIS ™ was developed by Samsung Bioepis, and is being commercialized in the US by Merck, which is known as MSD outside of the US and Canada. RENFLEXIS™ was approved by the US Food and Drug Administration (FDA) in April 2017. This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20170724005616/en/ Christopher Hansung Ko, President & CEO of Samsung Bioepis. (Photo: Business Wire) “Since we were established five years ago, we have strived to bring high-quality treatment options at a lower cost to US patients. RENFLEXIS is our first step in meeting this important commitment,” said Christopher Hans

Uutishuoneessa voit lukea tiedotteitamme ja muuta julkaisemaamme materiaalia. Löydät sieltä niin yhteyshenkilöidemme tiedot kuin vapaasti julkaistavissa olevia kuvia ja videoita. Uutishuoneessa voit nähdä myös sosiaalisen median sisältöjä. Kaikki STT Infossa julkaistu materiaali on vapaasti median käytettävissä.

Tutustu uutishuoneeseemme