Periodic Reporting for period 2 - FastPrk-2 (ENHANCED ON-STREET PARKING MANAGEMENT SYSTEM)
Reporting period: 2017-06-01 to 2018-07-31
Worldsensing designs sustainable and market-oriented technologies, offering end-to-end solutions for the Internet of Things (IoT) panorama. In one of its vertical markets, the company focuses on smart on-street parking systems, which enhance the use of current regulated parking spots with occupancy sensors that allow additional features and services while improving the user experience and the parking area management.
At this juncture, Fastprk2 has developed a leading end-to-end solution with advanced features compared to competitors’ alternatives: the functionalities of the product range from the certified parking occupancy detection to smart services offered to end-users.
(i) a final architecture for the Fastprk2 solution (Objective 1),
(ii) the assessment of the new technological elements at prototype level (Objective 2),
(iii) the validation of the final product and the quality upgrade of the company’s internal procedures (Objective 3),
and (iv) an immediate market impact (Objective 4).
It is safe to say that the project has been implemented according to the master lines of the original EC-GA, despite some corrective actions were added to guarantee the market competitiveness of the final product and minimize the impact of the rising risks. These changes have been formalized through two amendments to the contract signed with the EC and a fluent communication with the EC-PO.
As this is being written, a new smart parking solution (FastprkDuo) has been added to the product offering of Worldsensing with technical performances that respond to the functional requirements listed at the beginning of Fastprk2. This point has been validated in an ambitious pilot campaign in Europe and the US involving stakeholders and key players of the smart parking sector.
In the light of the pilots’ results and the active dissemination efforts made during the action, the product acceptance has been extremely successful with commercial projects already running and many others on the horizon. In parallel, Worldsensing has actively worked to upgrade its internal quality procedures to cope with the expected increase in turnover with proven guarantees. To this end, the company has been certificated with the ISO 9001 and it is in process of achieving the ISO 27001 in the coming weeks.
In view of the above, it can be concluded that Fastprk2 has been a true agent of change for Worldsensing which has resulted in a new commercial product and a more mature company with the realization of the four objectives set in the EC-GA.
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. FastPrk2 allows 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, Fastprk2 offers solutions that reduce exposure and risk of an accident.
3) Sustainability: Fastprk2 offers solutions to (i) improve traffic conditions and (ii) guarantee environmental-friendly mobility.
On the other hand and from an economic impact point of view, Fastprk2 development is a critical milestone to increase Worldsensing value by boosting the impact of this SME in the smart parking market at a global level.