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Parking Intelligence

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  1. 1. Need• Time wasted when looking for parking: 7 min/each parking → 14 min/day → 1½ hour/week → 5 days/year• Money wasted on fuel used on looking for parking: 1 mile extra/each parking → 2 mile/day → 730 miles/year → $120-140 in gas/year• Extra CO2 emissions hurts climate: 1000 lbs/year extra per person → estimated 500 million tons/year for SF• Estimates say that up to 50% of traffic in congested areas is comprised of people looking for a space• Finding a parking space adds frustration and unpredictable delays• Emerging parking need due to an increasing urban population and more car owners every day
  2. 2. Approach Triangulation Car GPS Smartphone AGPS Data processing Car navigation system Website Algorithms integrating: - weather - road work Cell phone - events
  3. 3. Approach continuedType Technology Pros Cons OpportunityParkedIn 1.0 AGPS and - Fast - Frequent data - Live directions on edge/3G/4G streams your cell phoneSmartphones - Real time data - Ethic dillema: - Google Earth - Automatic ParkedIn knows integration - Accurate where you are all - Multiple tracking - Easy to use the time features - Detailed dataParkedIn 2.0 GPS - Seamless - Data transferred - Partner with integration manually TomTom andCar Navigation Garmin →System - Accurate - Data has to be parking maps in extractable - Easy to use exchange for - Inaccuracy in - Automatic upload data areas with tall buildings
  4. 4. Approach continuedHow to reach the sufficient data quality on street parking availability that deliversvalue to the customers?Distribute 500 free GPS trackers to selected people geographicallyrepresenting the city of San Francisco.Each GPS tracker stores a month of parking behavior:- Exact location of parking- Time it took to find parking- Distance covered
  5. 5. Benefits Customer Benefits Public and Environmental Benefits • • Cleaner air due to overall Less time finding parking reduction in CO2. • Money saved on gas • Decrease in vehicle congestion • Less stress and frustration • Better oriented drivers (fewer • Easier to plan ahead accidents) • Optimization of available city • More time to enjoy local offerings parking space capacity • New user possibilities: • Deeper understanding of traffic Review your own GPS tracks and flows for future planning parking behavior (stats) • Cost: - Free for contributors - 5$/month for non contributors
  6. 6. CompetitionCompany Product/ User action Difference Level of competition TechnologyMobileParking LLC MobileParking matches Users call a number and is Focus on paid • parking customers with the guided by an operator to the parking closest parking garage that closest available paid parking has space available spaceStreetline Networks Streetline Networks offers No private customers Focus on public ••• parking management systems based on wireless vehicle sensor technology Superior real time parking dataSpotScout SpotScout provides an Users have to create and Focus on paid •• internet based account and subscribe to the parking marketplace for parking service. Users can sell their and private information on garages, parking space to highest buyer/seller Similar user interface private/residential and on- bidder. Access to parking agreements street availability information online by mobile phone or computer
  7. 7. Competition continued Company Product User action Difference Level of competition Spark Parking Spark Parking uses wireless Users have to create an Focus on paid •• sensors to detect parking account and subscribe to the parking options availability in paid parking service. Users access the areas. Users can parking information by mobile Similar user interface additionally pay for parking phone or computer using their phone ParkMatch ParkMatch is an online Users have to create an Focus on private • “Craigslist” for short term account. Parking space can be listings parking bought and sold accordingly●●● Direct competitor with better technology and strong financial backing●● Indirect competitor with substitute product and strong financial backing● Not a current threat, can become competitor when focus is shifted towards street parking
  8. 8. Revenue ModelPrimary Revenue Streams:• 5$/month for subscription – customers can pay with money or parking data• 10$/month for pro subscription – gives you access to your entire GPS track historySecondary Revenue Streams:• Website advertisement – banners (e.g. Garmin, TomTom, car parks etc.)• Phone advertisement – adds integrated into parking mapsAlternative Revenue Streams:• The city (traffic, police)• Garmin & TomTom (additional feature on GPS systems)• Real estate companies (traffic data on real estate add)• Various web based mapping services (GoogleMaps, MapQuest etc.)Future Revenue Streams:• When real time data becomes standard (through GPS phone technology or internet equipped car navigation systems), maps can be updated faster Categories of parking maps based on update rates: - Fastest (add $5/month) - Faster (add $3/month)
  9. 9. Sales ForecastLinking Variable Source Estimated Market Potential Value1. Population of San Wikipedia 744,041 Francisco (+ incoming non-resident commuters. Estimate: 500,000) (1,244,041)2. Population in target age Wikipedia 69% 513,388 group (20-65 year) (858,388)3. Amount of households with San Francisco 67% 343,969car/cars Planning and (+ households with more than one car. Urban Research Estimated 100,000) Association (SPUR) (575,119)4. People who say they would Customer survey 75% 257,977use ParkedIn (431,339)5. People who say they would Own estimate 50% 128,988use ParkedIn and actually use (215,669)it6. Number of paying Customer survey 25% 32,247customers (non contributors) (53,917)
  10. 10. Why shouldn’t you also know where to park?
  11. 11. SWOT Strengths Weaknesses • First to build a database with high • No unique technology quality parking statistics • High dependency on user data • Low start up expenses • Unconfirmed relation between data and • Prepared to capitalize coming trends in quality of maps GIS Opportunities Threat • GPS becoming standard in phones, • Overrun by better technology •cars • Wireless vehicle sensors is installed and other mobile devices on every street • Market soars for car navigation systems • Ethic ruling: Companies are not allowed to monitor peoples • Growing usage of mobile phone driving/parking behaviour application
  12. 12. Data challengeAmount of data Quality / value to customers
  13. 13. Spotfinder Smartpark Parkwis e Parkster ParkMe Parkinsight Parkalecious EasyPark ParkemonSpaceacquaint ParkVision FindR