Otonomo Research Shows that Smart City Demand for Vehicle Data is Expected to Increase

Rhea-AI Summary

Otonomo Technologies Ltd. (OTMO) released a report examining the use of vehicle data in 50 smart cities across 26 states. While 62% utilize vehicle data, they mainly depend on outdated systems like cameras and road sensors, limiting their potential. Key findings include that 36% use data to enhance business travel experiences, and only 22% for real-time traffic management. The report emphasizes the need for a consolidated vehicle data platform to optimize city operations and improve quality of life, with applications in road safety, emergency planning, and EV expansion.

Positive

• 62% of smart cities surveyed currently use vehicle data to enhance citizens' quality of life.
• 36% are using vehicle data to improve experiences for business travelers and tourists.
• Otonomo's Mobility Intelligence solutions are designed to empower smarter city planning and operations.

Negative

• Reliance on legacy infrastructure restricts the transformative potential of vehicle data.
• Only 22% of cities currently use vehicle data for real-time traffic management.

• Traffic Management and Event Planning are the current primary use cases
• Reliance on legacy data sources prevents smart cities from becoming smarter

HERZLIYA, Israel and SAN JOSE, Calif. and LAS VEGAS, Jan. 06, 2022 (GLOBE NEWSWIRE) -- Otonomo Technologies Ltd. (Otonomo) (Nasdaq: OTMO), a leading mobility intelligence provider, today announced it has published a new research report titled “What 50 Smart Cities Say About Using Vehicle Data.”

The report surveyed 50 smart city stakeholders across 26 states to understand how they are using vehicle data to increase the quality of life for their citizens. While 62% of respondents use vehicle data for a variety of purposes, they rely primarily on legacy infrastructure such as cameras and in-road sensors to capture vehicle data, substantially limiting their ability to tap into its transformative potential.

“A single-source vehicle data platform is essential to meet the growing demand by smart cities coupled with the increased prevalence of connected cars,” said Ben Volkow, CEO and Co-Founder of Otonomo. “In fact, our recently launched Mobility Intelligence solutions foster smart city innovation by eliminating guesswork and empowering change across the mobility and transportation landscape. With accurate data, insights and intelligence solutions, city planners will be able to provide tailored services to their citizens as well as the riding and driving community.” Volkow continued, “When leveraged properly, connected vehicle data and mobility intelligence make a smart city smarter with improved road safety, upgraded emergency planning, reduced congestion and accelerated EV expansion in their communities.”   

Key Takeaways:

• 62% of smart cities sampled are using vehicle data to improve the quality of life for their citizens in the following ways:
  • 18% to improve roadway management and infrastructure
  • 18% for monitoring road usage and capacity 
  • 18% for zoning and urban planning
  • 14% to manage high accident areas
  • 6% to improve parking
  • 2% to mitigate environmental impact
    
    
• 36% are using vehicle data to improve the experience of business travelers and tourists, with an additional 28% planning to do so in the future
  
  
• Only 22% are using vehicle data for real-time traffic management. However, 31% plan to do so in the future, and 68% report using vehicle data for managing mass events. We believe these responses point to a large increase in using vehicle data to improve traffic management
  
  
• 46% are planning to build applications integrating vehicle data in order to provide information on public and private transportation options to city residents, with nearly 30% planning to use or increase their use of vehicle data to do so
  
  
• Only 34% have, or plan to use, vehicle data for EV charging stations, with 62% reporting that it’s difficult to get reliable EV data
  
  
• Only 8% of the cities surveyed currently use connected car data to deliver better transportation and mobility services. Here’s the full breakdown of what tools these cities currently use to gather vehicle data:
  
  
  • 32% - cameras
  • 24% - in road sensors/toll payment sensors        
  • 16% - human surveyors                
  • 4% - GIS data 
  • 16% - mobile phone data
  • 8% - connected car data
    

Report Methodology: In July 2021, Otonomo commissioned Lead to Market, an independent survey firm, to query decision makers and data science experts with an interest in mobility. Those surveyed included C-suite executives, senior leaders in finance, compliance, and procurement departments, senior transportation directors and many other decision makers from 50 cities in 26 states, among them California, Florida, Illinois, New York, Massachusetts, and Wisconsin. 

Download the report: https://info.otonomo.io/hubfs/PDF/OOOO-Smart-Cities-Survey-Promise-of-data.pdf

About Otonomo

Otonomo fuels a data ecosystem of OEMs, fleets, and more than 100 service providers spanning the transportation, mobility, and automotive industries. Our platform securely ingests more than 4 billion data points per day globally from over 40 million vehicles licensed on the platform and massive amounts of mobility demand data from multimodal sources, then reshapes and enriches it, to accelerate time to market for new services that improve the mobility and transportation experience. We provide deeper visibility and actionable insights to empower strategic data-driven decisions – taking the guesswork out of mobility and transportation planning, deployment, and operations. Privacy by design and neutrality are at the core of our platform, which enables GDPR, CCPA, and other privacy-regulation-compliant solutions using both personal and aggregate data. Use cases include emergency services, mapping, traffic management, EV management, subscription-based services, micro-mobility, parking, predictive maintenance, insurance, media, in-vehicle services, and dozens of smart city solutions. 

More information is available at otonomo.io

Otonomo on Social Media

•       Follow Otonomo on LinkedIn
•       Like Otonomo on Facebook
•       Follow Otonomo on Twitter
  

For press inquiries, please contact:

Otonomo
Jodi Joseph Asiag
Head of Content and Communications
jodija@otonomo.io

For investment inquiries, please contact:

MS- IR for Otonomo
Miri Segal
msegal@ms-ir.com

Forward Looking Statements

This announcement contains certain forward-looking statements within the meaning of the federal securities laws, including statements regarding the services offered by Otonomo, the anticipated technological capability of Otonomo, the markets in which Otonomo operates and Otonomo’s projected future financial and operational results. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this announcement, including, but not limited to, the ability to implement business plans, forecasts, and other expectations, the ability to identify and realize additional opportunities, and potential changes and developments in the highly competitive data marketplace. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in Otonomo’s prospectus filed with the SEC on November 3, 2021, and other documents filed by Otonomo from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Otonomo assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Otonomo gives no assurance that it will achieve its expectations. 

FAQ

What did Otonomo announce regarding smart cities on January 6, 2022?

Otonomo published a report on the utilization of vehicle data in 50 smart cities, revealing significant reliance on legacy data sources.

What percentage of smart cities use vehicle data according to Otonomo's report?

62% of surveyed smart cities utilize vehicle data to enhance quality of life.

What challenges do smart cities face with vehicle data integration?

Many cities rely on outdated systems, limiting their ability to leverage the full potential of vehicle data.

How does Otonomo plan to improve smart city operations?

Otonomo advocates for a single-source vehicle data platform to optimize city planning and traffic management.