SANTA CLARA, Calif., Jan. 4, 2017 /PRNewswire/ -- Based on its recent analysis of the smart parking technology market, Frost & Sullivan recognizes Streetline with the 2016 Global Frost & Sullivan Award for Product Line Strategy Leadership. Streetline's Hybrid Data Collection Platform is an end-to-end Smart Parking solution that revolutionizes how parking data is captured and utilized by a wide range of end users including motorists, merchants, enforcement teams, and city parking departments.
Streetline provides real-time parking availability guidance to motorists with a degree of accuracy greater than 90%. Accurate guidance to available parking is critical in the smart parking sector as motorists who are guided to parking that is not available will quickly stop using the guidance application.
Merchants can embed Streetline's high quality parking data on their websites to be more accessible to their customers. As many cities aspire to become Smart Cities, parking is a great place to start in light of the fact that up to 30% of traffic in a city is caused by motorists looking for parking. Streetline's solution is a win for everyone in the city and its platform is far more powerful and far more accessible to cities than ever before.
"Streetline's platform maintains high data quality and can cover an area that is ten times larger at the same cost," said Frost & Sullivan Yiru Zhong, Senior Industry Analyst. "We believe that Streetline's platform is the best approach to cities looking to achieve 'Smart City' status via a 'Smart Parking' strategy."
Streetline deploys its solutions in cities, universities, and corporate campuses across the globe.
Each year, Frost & Sullivan presents this award to a company that has developed a comprehensive product line that caters to the breadth of the market it serves. The award recognizes the extent to which the product line meets customer base demands, the overall impact it has in terms of customer value, as well as increased market share.
Frost & Sullivan Best Practices awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research to identify best practices in the industry.
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SOURCE Frost & Sullivan