Frost & Sullivan Releases Independent Analyst Report on Streetline, Inc.; Recognizes Streetline with 2013 North American Competitive Strategy Leadership Award
Report finds Streetline to be most innovative smart parking technology company in U.S. and Europe
MOUNTAIN VIEW, CA--June 27, 2013: Based on its recent analysis of the smart parking market, Frost & Sullivan recognizes Streetline, Inc. with the 2013 North American Frost & Sullivan Competitive Strategy Leadership Award for Intelligent Parking Solutions. Frost & Sullivan commends Streetline's execution on its pioneering market strategy as the company continues to reinvent the parking industry through its expansion in the U.S. and internationally. The report is available at the following link: Parking Technology Whitepaer
Streetline's unique product portfolio has enabled cities in the U.S. and Europe to focus on and reinvent the parking industry. The smart parking system provides clear statistical data that enables metropolitan areas to make data-driven decisions on better parking management in their downtown neighborhoods. Streetline has always insisted on innovation and collaboration; by working closely with partners, such as IBM, Siemens, Cisco, Xerox, ParkMobile, and Citi, it is able to bring together the technology, service, and equipment that are essential to creating seamless solutions. Streetline introduced the platform in Europe in 2012, with the first two deployments in Braunschweig, Germany, and Birmingham, U.K., and Manchester, U.K. in early 2013. The expansion into Europe builds on the company's growing presence in the United States, which includes smart parking programs in California, Maryland, New Jersey, New York, North Carolina, and Washington D.C.
"Frost & Sullivan research clearly shows that Streetline is taking advantage of emergent technologies, such as the 'Internet of Things,' and is implementing its state-of-the-art solutions for improvements in society," said Neelam Barua, industry analyst at Frost & Sullivan. "Streetline is truly reinventing the parking industry by approaching the market holistically by serving the best interests of consumers, cities, universities, car manufacturers, and other stakeholders, as well as opening up the possibilities of what the Internet of Things will bring for our connected cities."
Parking, a $25 billion industry in the U.S., primarily operates and functions in a traditional manner with very little focus on innovation and smart parking. A quarter-billion registered U.S. passenger vehicles remain parked more than 90 percent of the time. Efficient parking and use of available parking spaces have always been a challenge for city dwellers and drivers. In addition to the typical traffic congestion that is caused by daily commutes, gridlock from construction and accidents, and ineffective traffic assistance systems, it has been estimated that more than 30 percent of traffic in a city is caused by drivers whom are searching for a parking spot. Inefficient and mismanaged parking systems result in congestion and increased carbon emissions, thereby wasting commuters' time and affecting productivity and economic opportunities. It has been also estimated in the U.S. that all car parking spaces (i.e., 800 million) combined add 10 percent to the CO2 emissions of the average automobile emission to the atmosphere. In terms of space in the U.S., parking spots total 160 billion square feet of concrete and asphalt. Efforts have been made in this direction to complement the city's traffic management and parking management system to cater to the needs of the commuters and removal of unused parking lots and garages. City councils and local residents are working together to free up urban areas. Several companies are partnering with local-level government in the U.S. and Europe to resolve the challenges that pertain to traffic congestion and parking availability. Intelligent and innovative parking solutions are being developed and implemented across the U.S. and European nations. Many private-public joint initiatives have delivered key results in smart parking at many of the largest cities, such as Los Angeles, San Francisco, Chicago, and Boston in the U.S., and Zurich, Amsterdam, and Brussels in Europe. This initial success has led other varied stakeholders to indulge in attractive parking solutions and services, which have become a key element of Smart Cities. Premium automakers' foray into the smarter parking ecosystem is evident with alliances between parking operators and app providers in the U.S. and Europe. Frost & Sullivan recognizes that this trend outlines the importance of the intelligent parking industry in modern-day cities, which are laden with millions of vehicles.
"The report by Frost & Sullivan, a well-respected third-party analyst, provides an in-depth examination of Streetline's intelligent parking market strategy against competitors in both the U.S. and Europe," said Zia Yusuf, president and CEO of Streetline, Inc. "Being presented with the Competitive Strategy Leadership Award for Intelligent Parking Solutions with the finding of 'the most innovative company for parking technology in the U.S. and Europe' is beyond an honor."
"Each year, Frost & Sullivan presents this award to the company that has leveraged competitive intelligence to successfully execute a competitive strategy that results in stronger market share, competitive brand positioning and customer satisfaction. In recognition of these achievements, Frost & Sullivan is pleased to present Streetline, Inc. with the 2013 Frost & Sullivan Competitive Strategy Leadership Award for Intelligent Parking Solutions," said Barua.