Objective
Traffic levels on strategic roads will be 24% higher in 2040 than they are today. Without investment, conditions on the most important routes are expected to worsen by 2040. Smart City solutions are expected to attract €1.415 trillion in expenditures by 2020, with Smart Mobility alone accounting for 8% of this spending, creating a €1.1bn market. Traffic management, road maintenance and planning new infrastructures are the 3 main factors to successfully contribute to the growing vehicles mobility needs. An opportunity arises in using smart traffic data to optimise long-term road management, allowing for a more efficient use of resources in infrastructure planning and maintenance. It is estimated that over $1 trillion can be saved in the next 20 years through a more efficient infrastructure productivity plan, of which 25% are related to road networks alone. SMApp is the first smart, standardised, web based tool to monitor, analyse and predict traffic data information in real time over a road network. Through our propietary LPR (License Plates Recognition) algorithm we will be able to obtain a truly global and continuous road network solution (currently being discreet over specific sections) by OD matrices, gaining access to a source of accurate, objective and valuable data in an unprecedented manner, to provide a more efficient planning and maintenance of the existing and future road networks.Since 2009, we have already invested €620K to develop SMApp to its current functional prototype stage, which is being tested by the Spanish National Traffic Authority (DGT) and proofing our Technology Readiness Level at 6. Setting a selling price between €100K and €300K per annum, including the maintenance fee for the service, for an average of 85% gross margin, we expect a turnover in the fifth year of €5.05 million and a net profit of €4.38 million. After €1.82 million total investment, we forecast a Return on Investment (ROI) of 4.09 by Y5.
Fields of science
- engineering and technologycivil engineeringurban engineeringsmart cities
- engineering and technologyelectrical engineering, electronic engineering, information engineeringelectronic engineeringsensorsoptical sensors
- natural sciencescomputer and information sciencesdata sciencebusiness intelligence
- social sciencessocial geographytransport
- natural sciencescomputer and information sciencesdata sciencedata processing
Programme(s)
- H2020-EU.3.4. - SOCIETAL CHALLENGES - Smart, Green And Integrated Transport Main Programme
- H2020-EU.2.1.1. - INDUSTRIAL LEADERSHIP - Leadership in enabling and industrial technologies - Information and Communication Technologies (ICT)
- H2020-EU.2.3.1. - Mainstreaming SME support, especially through a dedicated instrument
Topic(s)
Funding Scheme
SME-1 - SME instrument phase 1
Coordinator
15004 A Coruna
Spain
See on map