INRIX Reveals New Population Analytics Platform; Machina Research Report
Identifies Billion Dollar Movement Analytics Market for Smart Cities
LONDON, February 16, 2015: INRIX® Inc., a leading global provider of transportation information, analytics and driver services for the connected car and smart cities worldwide, today unveils its new Population Analytics1 platform2, which utilises billions of anonymised and aggregated mobile network and GPS data points to provide population movement insights to governments, transport authorities, city planners, retailers and advertisers.
Through partnering with INRIX, movement analytics creates an opportunity for operators to benefit from lucrative new revenue streams in a market forecast by Machina Research to be worth USD$1 billion by 20203 for smart city applications alone, as governments invest huge amounts to reduce the impact of traffic congestion4, upgrade transport infrastructure and improve urban mobility as more and more people move into our largest population centers.
“Mobile operators are sitting on a treasure trove of rich information and have started to explore the significant opportunities available to them if they are able to monetize their data assets,” said Rafay Khan, Chief Revenue Officer, INRIX. “In pioneering movement analytics in the UK with our public sector customers, we have proven we can deliver accurate population movement insights through the use of mobile network and GPS datasets and drive revenues for operators.”
In the UK, INRIX uses its mobile operator partners’ anonymized data to provide population movement insights, such as detailed knowledge about the trips and travel habits of groups of people. In return, the operator gains an additional revenue stream. For operators that have yet to benefit from movement analytics, partnering with companies like INRIX with advanced analytics capabilities would negate the need to invest in new and costly infrastructure.
Emil Berthelsen, the Principal Analyst at Machina Research, said: “Mobile operators need to recognize that movement analytics is not an extension of their traditional data analytics operation and will require them working with established providers with sophisticated platforms. To effectively monetize their data assets, operators also need partners who are accustomed to working with and selling into governments and cities and other vertical sectors like retail.”
INRIX has a heritage in delivering analytics services to the public sector. Its extensive customer base includes transport authorities around the globe, such as the I-95 Corridor Coalition in the US. During the London 2012 Olympics, Transport for London (TfL) was one of the first transport authorities to use INRIX’s movement analytics capability to analyze real-time population flow and density across the capital, enabling TfL to make better-informed transport planning decisions.
“By helping governments improve urban mobility and the efficient movement of goods and services in cities, operators can play a crucial role in smart city development,” said Khan. “Our existing heritage in delivering data analytics to transport authorities globally will help mobile operators to enter new markets while taking advantage of lucrative new revenue streams.”
To view the Machina Research White Paper on movement analytics: https://inrix.com/resources/monetizing-movement-analytics-new-revenue-opportunities-for-mobile-operators/
Notes to editors
1INRIX Population Analytics is a data-driven analytical technique for monitoring the origin and destination of whole populations. Its power comes from the ability to understand not just where anonymous groups of people are at a given time, but where they’ve been, how they got there, and where they may be going next. Knowing the location and volume of people at a major sporting event, for example, can help authorities plan and manage security and crowd management with greater precision. Similarly, a retailer who knows what percentage of customers live in a particular area has a much clearer view of its customer demographics and can modify its strategy accordingly.
2INRIX Population Analytics Platform
- Origin-Destination (OD): An innovative creation of trips from probe (cellular and/or GPS) data, demonstrating population movement and flow in space and time. Provided in aggregated matrices in a spatial region that shows how people moved to or from that region and when. Additional attributes of that population such as mode of travel and demographics are also available.
- Population Density: Provides real-time population density visualization based on the movement of probes (cellular and/or GPS) in an area. Access is provided through a web viewer for one-off events or for continuous monitoring.
3 Machina Research identified, for Smart Cities alone in Europe, a EUR2.0 billion revenue opportunity in services by the end of 2020, which for the period of 2015-2020 has a cumulative revenue opportunity of EUR7.96 billion. Approximately EUR175 million could be accounted for by analytics alone in this single segment across that period. Extrapolated to a global level identifies a cumulative global market opportunity of around EUR877 million (approx.USD$1B) by 2020.
4The combined annual cost of gridlock in the US and Europe is expected to soar to $293 billion by 2030, a 50% increase from 2013. Source: INRIX/CEBR Cost of Congestion Report.