Report

Teaser, summary, work performed and final results

Periodic Reporting for period 1 - FASTPRK-2 (Enhanced on-street parking management system)

Teaser

Smart on-street parking systems enhance current regulated parking spots with occupancy sensors that permit to provide additional features and services reducing CO2 emissions thanks to the reduction of traffic in cities, while improving user experience and parking area...

Summary

Smart on-street parking systems enhance current regulated parking spots with occupancy sensors that permit to provide additional features and services reducing CO2 emissions thanks to the reduction of traffic in cities, while improving user experience and parking area management. However, current commercial solutions achieve these benefits in a limited way, and in most of the cases are far from attractive for the decision makers and local authorities who are demanding reliable solutions for traffic management (related to parking areas), including fraud control and automatic enforcement, variable pricing and automatic billing, and other added-value services for citizenslike guidance, recommendations or reservations.

The aim of FASTPRK-2 has been to assess the potential market penetration of a new smart on-street parking solutions, by the introduction of certified 100% accuracy occupancy detection systems with advance services for cities and citizens.

Current FastPrk solution (sensors + network + services) is one of the most competitive ones in the market, consisting on a flush or surface mount magneto-resistive device powered with batteries, which communicates occupancy data through a proprietary high range low consumption wireless network to a central management server providing services for assets management, streaming of raw real-time information, business intelligence (multiple dashboards and data processing), network management and Service Level Agreement management.

FASTPRK-2 has explored the extension of current functionalities by improving:

- Sensors: Increase current parking sensors accuracy up to 100%, integrate vehicle/user identification solutions (RFID, Bluetooth, etc.), reduce maintenance costs by 20%, increase product lifespan (currently limited by batteries) and reduce energy consumption by 50%.

- Network: Improve data security and encryption for automatic enforcement and billing.

- Services: Extension of current data processing and Business Intelligence for real-time fraud prevention and automatic enforcement, variable pricing and automatic billing, occupancy forecast and recommendation, parking spot guidance and reservation, enhanced accuracy for occupancy detection (crossed sensors measurements), and user experience (UX).

- System: Improve system robustness, reliability, availability, scalability, compatibility/connectivity, by means of specific system design, selection of components and development of specific tools like self-checking and new APIs (Application Programming Interface), minimize installation by means of design strategies and updated procedures; minimize maintenance costs by means of preventive/predictive maintenance.

In parallel, Worldsensing has validated the technical and economic viability of the new product (FASTPRK-2) by means of a feasibility study, including a business plan for the commercialization of the system.

Work performed

FastPRK-2 has pursued the improvement of the current commercial version of the product by implementing a full smart on-street parking management system. This feasibility study has been developed with the following objectives in mind:

- Objective 1: Technical study (validation of the new ideas supporting the product improvments). The tangible results have been:
1) A first version of the new platform to be complemented by innovative tools such as a Decision Support System (DSS) in the next future;
2) New detection technologies analysed in laboratory and real environment conditions. Detection accuracy of almost 100% achieved;
3) Energy harvesting solutions successfully tested in laboratory experiments;
4) By interpreting the historical data owned by Worldsensing a list of key parameters have been identified. They will set-up the basis for defining innovative services on the context of parking management (prediction maintenance, etc.)

- Objective 2: Market study. The tangible results have been:
1) A market assessment report has been completed for understanding the attractiveness and the dynamics of the IoT sector within the smart city context. This work provides a clear roadmap that FastPrk-2 should follow for attracting customers and involving new end-users;
2) This first analysis has been enriched with a top-down approach at two levels: an overview of the European market on the transportation sector and a look on the “on-street smart parking” vertical;
3) Worldsensing has also conducted a market risk and competitors assessment, allowing a detailed SWOT analysis for FastPrk-2 opportunity.

- Objective 3: Economical feasibility study. The tangible results have been:
1) Identification of new business opportunities in unexplored countries by Worldsensing;
2) Detailed cost analysis for the complete architecture considering both levels: hardware and related services;
3)Taking into account the abovementioned points, Worldsensing has assessed the potential project impact with three key indicators: (i) Total Revenues, (ii) Revenues Growth % and (iii) Total staff. Three scenarios have been introduced: low/medium/high-impact.

Final results

FastPrk-2 will represent a solution that addresses some H2020 objectives as follows:

1) Efficiency and Flexibility: step forward in the operational efficiency of transport services (public and private), in terms of: (i) identification of better route alternatives; and (ii) clever organisation and use of available resources. FastPrk-2 will allow collecting real-time information from the parking spots merging it with those data coming from other Worldsensing’s products in a cloud platform to foster interoperability. The proposed solution is scalable with the users’ needs.

2) Safety: the main factors influencing road injuries are: (i) exposure (total travel time), accident rate (accident risk per unit of exposure), and accident severity (injuries per accident). Given all these factors, FastPrk-2 will offer solutions that reduce exposure and risk of accident.

3) Sustainability: FastPrk-2 will offer solutions to (i) improve traffic conditions and (ii) guarantee environmental-friendly mobility.

On the other hand and from an economic impact point of view, FastPRK-2 development is a critical milestone to increase Worldsensing value by boosting the impact of this SME in the smart parking market at global level.

Website & more info

More info: https://www.youtube.com/watch.