Role of IOT and data collected for the future of Urban Mobility: Case study of Parkofon

This article explores the role of IOT and data in the future of urban mobility through the case study of Parkofon. It discusses the various sectors where IOT can be used and how Parkofon is helping in building smart cities. The article also highlights the benefits of IOT in efficient parking, reducing congestion and pollution.

Running Head: Emerging Digital Trends
Emerging Digital Trends
Urban Mobility

Emerging Digital Trends P a g e | 1
Role of IOT and data collected for the future of Urban Mobility: Case
study of Parkofon.
Internet of things to a layman is sensors and actuators which are connected by
networks to computing systems, which has garnered strong attention in the last couple
of years. In order to realize maximum benefits, the understanding of real value has to be
captured by addressing a set of system issues such as interoperability (Whitmore,
Agarwal & Da Xu, 2015). The technology finds a great usage in the following sectors or
industries:
 Vehicle Manufacturing- IOT is used for autonomous vehicles and condition
based maintenance, the size of which lies somewhere between $ 210 Billion to $
740 Billion.
 Smart Cities- Here the technology can be used for Public health and
transportation, the estimated size of the market here is somewhere between $
930 Billion to 1.7 Trillion dollars.
 Logistics and Navigation-IOT has a very strong role to play here, the estimated
size of the market is $ 560 Billion to 850 Billion dollars.
 Human Health and Fitness- Undoubtedly, one of the most evolved sectors in
the last decade, IOT holds a value of over $ 170 Billion to 1.6 Trillion dollars.
 Worksites- IOT has a role to play in operations optimization and health and
safety, the estimated market value stands between $ 160 Billion to 930 Billion
dollars (Dalipi & Yayilgan, 2016).
 Retail environment- The advanced technology has a major role to play in the
evolving retail segment and the estimated size of the market stands between $
410 Billion to 1.2 Trillion dollars.
 Factories- The IOT here can find usage in Operations and equipment
optimization and the value is estimated between $ 1.2 Trillion dollars to 3.7
Trillion dollars (Mc Kinsey & Company, 2015).
 Office space- Here IOT finds usage in Security and energy and has an estimated
market value between $ 70 Billion to $ 150 Billion.

Emerging Digital Trends P a g e | 2
 Home- IOT finds usage in the home in chore automation and security, the
estimated market value stands at $ 200 Billion to $ 350 Billon.
Parkofon aims to make drivers commute in a more pleasant way by indulging as a
partner with smart cities and taxi companies to leverage the sensory technology and to
create new innovation for the parking challenges and to extract more relevant data
which would reduce the increasing stress of urban living. The IOT technology here will
help in efficient parking which would ultimately reduce the congestion and helps in
minimizing the pollution, promoting economic growth by reducing the distance and
make it more enjoyable (Parkofon, 2018).
Parkofon is also helping in building smart cities by the provision of reduced congestion,
real time space availability, demand driven parking & no meters. Parkofon is benefitting
from the growing urban utility and the IOT, also the data collected can be used for
various purposes in creating solutions for the community:
 The provision to park the vehicle anywhere as the metered parking is available
and permitted.
 The provision of receiving notification when the metre attached to the vehicle is
about to expire (Parkofon, 2018).
 The technology does away with the problem of punching in zero number; it
automatically does that for the customers.
 The device is easy to use and handle, as it allows the parker to store the device in
the car and display it whenever required (Parkofon, 2018).
Thus, it can be seen that Parkofon will benefit hugely from IOT and the growth in urban
mobility.

Emerging Digital Trends P a g e | 3
References
Parkofon, (2018). ‘Introducing Parkofon’. Available at https://www.parkofon.com/
[Accessed 06/07/2018]
Whitmore, A., Agarwal, A. and Da Xu, L., (2015). The Internet of Things—A survey of
topics and trends. Information Systems Frontiers, 17(2), pp.261-274.
McKinsey & Company (2015). The Internet of Things: Mapping the value behind the Hype
[online]. Available at: https://www.mckinsey.com/business-functions/digital-
mckinsey/our-insights/the-internet-of-things-the-value-of-digitizing-the-physical-
world. [Accessed 06/07/2018]
Dalipi, F. and Yayilgan, S.Y., 2016, August. Security and privacy considerations for iot
application on smart grids: Survey and research challenges. In Future Internet of Things
and Cloud Workshops (FiCloudW), IEEE International Conference on (pp. 63-68). IEEE.