Press Release: Parknav and INRIX Announce Agreement for Innovative On-Street Parking Solution
Parknav and INRIX Announce Agreement for Innovative On-Street Parking Solution
Agreement adds static and real-time on-street parking data in top German cities
Chicago and Seattle – January 19, 2016 – AI Incube, Inc. (Parknav), the global leader in real-time on-street parking availability data, today announced that it will supply INRIX, Inc., a leading provider of traffic information and driver services, with its real-time street parking availability information in Germany. Leveraging machine learning and artificial intelligence, drivers using INRIX On-Street Parking will now be able to accurately and efficiently find available on-street parking in the 30 largest cities in Germany.
“Real-time on-street parking information has now become essential to an intelligent and informed driving experience,” said Eyal Amir, president and chief executive officer of AI Incube, Inc. (Parknav). “We are pleased that, together with INRIX, we can now empower drivers in Germany with the most advanced and innovative on-street parking solution available.”
Experts estimate up to 30 percent of traffic in urban areas is caused by drivers looking for parking. In an effort to reduce traffic congestion caused by looking for parking, Parknav integrates on-street parking predictions in the top German and U.S. cities. The new licensing agreement adds more than 20 German cities to INRIX On-Street Parking, bringing its total coverage to over 40 cities worldwide. BMW vehicles equipped with ConnectedDrive will be the first to include the INRIX On-Street Parking service.
“INRIX has always focused on analyzing and facilitating the movement of vehicles around the world, whether it’s to avoid congestion or find the best parking spot,” said Steve Banfield, chief marketing officer of INRIX. “Parknav helps expand our quality and accuracy of our on-street parking data in one of the most important markets to automakers.”
With more than 400 customers in 45 countries, INRIX is the preferred provider of parking and traffic services to leading automakers and transportation agencies including Audi, BMW, Lexus, more than 60 U.S. Departments of Transportation, the U.K. Highways Agency and the Danish Road Directorate.
Founded in 2009, Parknav has revolutionized the real-time on-street parking availability industry with its innovative, highly accurate and scalable data-based solution. Its solution works 24/7 for all streets in a city, covers all types of on-street parking (including free, metered, and permit parking), and has an accuracy that surpasses 80%. Currently, Parknav has over 1.5 billion recorded parking events and is available in the U.S. for the top 40-metro cities as well as Germany for the top 30-metro cities.
Parknav already serves over 100,000 users on its free mobile application and customer integrations. The Parknav app for iOS and Android is available for 24 of Parknav’s 70 cities (20 cities in the U.S. and 4 cities in Germany).
Parknav and its employees are committed to providing drivers with the safest and most advanced driving experience when searching for parking in today’s metropolitan areas.
INRIX is one of the fastest growing big data technology companies in the world. Through cutting-edge data intelligence and predictive technologies, INRIX helps leading automakers, fleets, governments and news organizations make it easier for drivers to navigate their world.
Our vision is simple – to solve traffic, empower drivers, inform planning and enhance commerce. Whether through an in-car or smartphone navigation application, a local newscast or our mobile apps, our up-to-the-minute traffic information and other driver services help millions of drivers save time, fuel and frustration. INRIX delivers traffic and driving-related insight, as well as sophisticated analytical tools and services to over 400 customers, on five million miles (8 million km) of road in 45 countries. Acquired by INRIX in 2015, ParkMe has built the world’s most comprehensive parking database that includes more than 29 million spaces in over 90,000 locations spanning 4,000 cities in 64 countries.
 Donald Shoup, The High Cost of Free Parking, Chicago: Planners Press, 2005 and 2011.