INRIX has unveiled its new Population Analytics platform, with the platform using billions of anonymised and aggregated mobile network and GPS data points.
INRIX provides transportation information, analytics and driver services to governments, transport authorities, city planners, retailers and advertisers.
According to a market forecast from Machina Research, the smart city applications market is expected to be worth $1bn by 2020, additionally, the cumulative revenue opportunity for the period of 2015-2020 is predicted to be 7.96bn Euros.
This is due to governments investing large sums of money in order to reduce the impact of traffic congestion, upgrade infrastructure and improve urban mobility.
The combined annual cost of traffic jams in the US and Europe is expected to reach $293bn by 2030, which would represent a 50% increase from 2013, according to an INRIX/CEBR Cost of Congestion report.
Rafay Khan, Chief Revenue Officer, INRIX, said: "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.
"In pioneering movement analytics in the UK with our public sector customers, we have proven we can deliver accurate population movement insights through combining mobile network and GPS datasets and drive revenues for operators."
INRIX operates in the UK by using its mobile partners’ anonymised data to provide population movement insights. Travel habits of groups and detailed knowledge of trips, in return the operations gain additional revenue streams.
Emil Berthelsen, Principal Analyst at Machina Research, said: "Mobile operators need to recognise 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 monetise 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’s movement analytics were used during the London 2012 Olympics by TFL, which enabled them to better manage population movements.
Khan, continued: "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."
"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."
