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Wejo Joins MONET Consortium to Further International Mobility Innovation
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
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Rhea-AI Summary
Wejo has joined the MONET Consortium, enhancing its role in promoting mobility innovation in Japan.
This opportunity allows Wejo to collaborate with diverse leading companies, potentially tapping into a $61 billion market for mobility-as-a-service (MaaS) by 2030.
CEO Richard Barlow noted an addressable market of nearly $3 billion for Wejo's services in Japan, aligning with the country's advanced automotive industry, producing 8.1 million vehicles annually.
Positive
Joining the MONET Consortium promotes collaboration for mobility innovation.
Potential access to a $61 billion market for mobility-as-a-service by 2030.
Addressable market of nearly $3 billion for Wejo's products and services in Japan.
Negative
None.
Wejo becomes one of a growing list of companies to join the Consortium in a united front for mobility innovation
MANCHESTER, England--(BUSINESS WIRE)--
Wejo, a global leader in Smart Mobility for Good™ and cloud and software solutions for connected, electric, and autonomous vehicles, today announced it has joined the MONET Consortium, an organization actively promoting collaboration and innovation for mobility services in Japan. As part of the MONET Consortium, Wejo will have the opportunity to work with companies selected from the hundreds of diverse and industry-leading members to drive forward mobility innovation and the mobility-as-a-service (MaaS) market, which could be worth $61 billion in 2030, according to Yano Research Institute.
Bringing its groundbreaking solutions to the table, Wejo will provide new perspectives and ideas to the collective conversation while extending its influence in Japan which has the 3rd largest economy in the world and a high level of urbanization, making it naturally incentivized to develop smart mobility innovations. Japan, according to Statista’s “Automobile Sector in Japan” report, also produces 8.1 million vehicles per year, which aligns with Wejo’s aim to make a more globalized impact with its connected vehicle data and Smart Mobility for Good™ technology.
“With the anticipated growth of MaaS offerings in Japan, we see the potential for a nearly three-billion-dollar addressable market by 2030 for Wejo Smart Mobility for Good products and services,” said Richard Barlow, founder and CEO at Wejo. “We’re honored to be a part of the MONET Consortium and be part of the conversations that will help accelerate mobility innovation in Japan.”
Founded in March 2019 by MONET Technologies, Inc., a jointly sponsored venture between SoftBank Corp., Toyota Motor Corporation and other mobility-focused companies, it includes organizations from a wide range of industries such as construction, finance, education, and real estate. With this assortment of member companies, the MONET Consortium takes advantage of a diversity of thought that can enhance and better serve the mobility technology used by governments and businesses today, as well as those being developed for the governments and businesses of the future. Through MaaS business development in anticipation of autonomous solutions, the MONET Consortium aims to drive next-generation mobility services, address social issues in mobility, and create mobility values.
Wejo’s role in the MONET Consortium will be to offer expert input for the betterment of the mobility ecosystem. In return for its contributions, Wejo hopes to draw valuable insights from fellow member companies to craft a more holistic suite of data analytics products so that they can better address the needs of potential customers.
Wejo Group Limited is a global leader in cloud and software analytics for connected, electric, and autonomous vehicles, revolutionizing the way we live, work and travel by transforming and interpreting historic and real-time vehicle data. Wejo enables Smart Mobility for GoodTM smarter mobility by organizing trillions of data points collected from approximately 13 million vehicles and 76.7 billion journeys to date, across multiple brands, makes and models, and then standardizing and enhancing those streams of data on a vast scale. Wejo partners with ethical, like-minded companies and organizations to turn that data into insights that unlock value for consumers. With the most comprehensive and trusted data, information and intelligence, Wejo is creating a smarter, safer, more sustainable world for all. Founded in 2014, Wejo employs more than 300 people and has offices in Manchester, UK and in regions where Wejo does business around the world. For more information, visit: www.wejo.com or connect with us on LinkedIn, Twitter, and Instagram.
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