ParkTAG has been set up as a company to address individual, as well as societal problems related to parking space search and road congestion by building a smart, integrated, technology-based, easy to use and cost-free system that renders the traffic more efficient thereby decreasing negative effects on humans and the environment while at the same time fulfilling today's need for fast and individualised urban mobility. The technology prototype is based upon an elaborated set of algorithms that match car drivers' predicted and actual behaviour in order to allocate nascent parking space.
The SOUTHPARK project is set up to fulfil two overall objectives:
- First, it will localise the ParkTAG system to the contexts of three European cities of more than one million inhabitants. The aim of the project is to demonstrate that the technology functions in the operational environment. This will be achieved when ParkTAG reduces the time of the participating test users spent on parking in three cities by 80 %.
- Second, the SOUTHPARK project will enhance the existing ParkTAG algorithms with a component that enables the technology to self-adapt to new local settings, thereby significantly reducing the implementation time and costs. This will enable the company to swiftly role out and commercialise the product on the world market. The ambition is to reduce both time and cost of localisation to new cities by 75% after the project.
The outcome of the project will be an ensemble of algorithms that have been tested on a large scale in the operational environment of three European cities. These algorithms will have the capacity to self-adapt to the parking situation in new cities thereby significantly decreasing the time millions of car drivers cruise to park. The technology will thus become a crucial part of the value chain in many products of the motorised vehicle industry.